Key Takeaways: 💸 Japanese officials are using novel tactics for FX intervention, making it difficult for investors to predict their moves 📈 Bank of Japan likely spent nearly 6 trillion yen this month to shore up the yen 🕰️ Officials stepped in as the dollar traded at 160 yen two weeks ago, causing a drop … Read more
Key Takeaways 💰 Commodity currencies are struggling due to weakening raw material prices 📉 Canadian dollar hits a three-month low ahead of the likely rate cut by Bank of Canada 🇦🇺 Australian dollar falls against the yen and is down nearly 7% in two weeks 📉 New Zealand dollar falls to a near three-month low … Read more
Key Takeaways: 💵 Dollar Index rose by 0.1% to 104.232 🇪🇺 Euro fell by 0.2% to 1.0835 after disappointing eurozone activity data 📉 Growth in eurozone business activity stalled in July with a PMI dropping to 50.1 🏴 GBP/USD traded 0.1% lower at 1.2898 due to strong British business activity 🇨🇦 USD/CAD rose 0.1% to … Read more
Key Takeaways 💸 Commodity currencies like AUD, NZD, and CAD are sliding to multi-week lows. 🔻 Yen is surging to its highest in two months against commodity currencies. 📉 Falling prices for industrial metals are impacting currency movements. 📉 Markets are pricing in an 84% chance of a 25 basis point rate cut in Canada. … Read more
Key Takeaways: 💵 Commodity currencies hit multi-week lows due to weak Chinese demand 📉 Currency short-sellers are closing profitable "carry trades" in yen ⛏️ Falls in oil, iron ore, and copper prices are impacting currencies such as the Aussie, Kiwi, and Canadian dollar 🇨🇦 Canadian dollar hits six-week low ahead of expected rate cut 🇨🇳 … Read more
Key Takeaways: 💰 The yen rose against the dollar on comments about normalizing monetary policy 🇺🇸 The U.S. dollar was firmer as traders awaited inflation data 🇨🇳 The Australian and New Zealand dollars struggled after China’s interest rate cuts 🏦 Expectations for the Bank of Japan’s next rate decision 📉 The U.S. dollar index rose, … Read more
Key Takeaways: 🌍 Africa’s banking systems at risk of collapse from nature loss affecting agriculture and forestry sectors 💰 Agriculture, mining, and food sectors in Africa face intense challenges from biodiversity loss 🌾 Ghana’s farming firms and Zambia’s mining firms could suffer significant earnings drops in the next 25 years 📈 Expected credit losses in … Read more
Yen Gains Strength as Traders Anticipate BOJ Actions, Dollar Remains Stable
Key Takeaways: 💪 Barclays remains confident in the US dollar despite current political climate 🇺🇸 Vice President Kamala Harris’ chances for Democratic nomination are rising 📉 USD is facing challenges in 2024 due to Trump and Vance partnership 🛡️ Imposition of heavy tariffs on U.S. imports could positively impact USD 🏦 Jerome Powell’s Federal Reserve … Read more
Key Takeaways: 💹 The yen rose following comments from a Japanese politician urging the BOJ to hike rates 📉 The Australian and New Zealand dollars decreased after China’s interest rate cut 🇨🇳 China cut major interest rates to boost growth, impacting Antipodean currencies like AUD and NZD 💹 JPY gaining momentum as BoJ contemplates rate … Read more