Key Takeaways: 💸 Dollar weakened against major currencies after softening labor market signaled potential interest rate cuts by the Federal Reserve 📉 Dollar slipped against yen as global financial markets favored safe-haven assets 📊 Job openings data impacting Fed rate cut decisions 📉 U.S. stocks remain weak amid concerns about the economy and tech sector … Read more
Key Takeaways: 💵 Dollar’s dominance in global financial system is not ending according to JPMorgan 🌎 China’s rise and economic sanctions are leading to diversification away from the dollar 📈 Dollar-denominated bank deposits in emerging markets are increasing 🛢️ Oil trading is shifting towards non-USD currencies in commodities markets 💳 Fragmentation of international payments system … Read more
Key Takeaways 💵 Citi anticipates the US jobs report to have a significant impact on G10 FX markets, especially the US dollar 📊 Market reaction to data for the USD has been asymmetric, with data beats being relatively neutral while data misses result in USD weakness 🌍 Growth concerns in the rest of the world, … Read more
Key Takeaways: 💵 UBS downgraded its long-term US dollar targets 📉 Currency analysts recommend fading the USD rebound in early September 📊 VIX volatility decreased but FX implied volatility remains high in carry pairs 💹 USD could see a near-term rebound due to positive seasonal patterns 🌍 UBS downgraded USD outlook into end-2024 and 2025 … Read more
Key Takeaways: 💱 Indian rupee dropped to a record low of 83.98 to the U.S. dollar 🏦 Reserve Bank of India (RBI) is actively supporting the currency to prevent further devaluation 🌎 Negative global cues impacted Indian equities and currencies 📉 Weakness in U.S. equities affected Asian and European markets 📈 Odds of a 50-basis-point … Read more
Key Takeaways 💰 Safe-haven currencies like the Japanese yen and Swiss franc gained against the dollar due to concerns about the U.S. economy and tech sector valuations 📉 U.S. equity indexes fell, with Nvidia dropping nearly 10%, sparking a risk-off mood that spread to Asia and Europe 📊 Traders are nervous ahead of crucial monthly … Read more
Key Takeaways: 💵 India’s central bank is selling dollars to prevent the rupee from hitting a record low 💱 The rupee is currently at 83.9650 to the U.S. dollar, avoiding falling below the lifetime low of 83.9725 📉 Offers to sell dollars at 83.97 are consistently seen on the interbank order matching system and from … Read more
Key Takeaways 💴 Safe-haven Japanese yen strengthened while riskier currencies like Aussie weakened 📉 Poor U.S. manufacturing data caused worry about the economy 📈 Dollar draws safety bids despite concerns about U.S. economy 🌐 Cryptocurrencies also declined 💰 Odds of Federal Reserve interest rate cut increased to 38% 💰 Yen surged as investors sought safe-haven … Read more
Key Takeaways 💵 The US dollar hit a 2-week high against the euro 📉 The euro declined by 0.24% against the dollar 📊 Investors are anticipating crucial payrolls data for impact on Federal Reserve’s decision 📈 Market expects interest rate cuts with a 63% chance of 25 basis point cut and a 37% chance of … Read more
Key Takeaways: 💱 The dollar rose to a two-week high against the euro 📊 Focus on jobs data this week after Powell’s comments on interest rate cuts 🛠️ Improvement in U.S. manufacturing but trend still indicates subdued factory activity ⏰ Markets expect a 63% chance of a 25 bps cut by the Fed in September … Read more