The Kansas Fed Composite Index and Manufacturing Index came in as expected, which wasn't a huge surprise, but it's what the ECB's Simkus said that caught my attention - $100 oil will have repercussions on inflation, and honestly, it's pretty obvious. The inflation risk has increased, and it seems like the ECB is taking a wait-and-see approach, which is fair given the current situation. If you were watching the majors, you'd have noticed they're all within a tight range, not doing much of anything.
It's been a pretty quiet day in the markets, but if you were watching the GBP, you'd have noticed it didn't budge much despite the inflation data coming out. The CPI, Core CPI, and Inflation Rate were all released at the same time, and honestly, it was a bit surprising to see the pound just shrug it off. I mean, we've seen some big moves on less significant data in the past, but today it just didn't seem to matter. The British Pound / Australian Dollar is still sitting at 1.9112, which is basically unchanged.
It's been a wild day, with the US Dollar making some big moves against its major counterparts. If you were watching EUR/USD, you'd have noticed it edged lower, hovering near one-week lows around 1.1405, which was pretty wild considering the stronger ZEW sentiment data out of Europe. And let's not forget USD/JPY, which briefly reached 163.04, marking its first move above the 163.00 level since December 1986 - that's a big deal. According to FXStreet, the US Dollar remains supported by safe-haven demand, which is no surprise given the ongoing tensions between the US and Iran.
The day was pretty muted, with most majors closing near flat, which was honestly surprising given the high-impact data releases from Canada. CPI, Core CPI, and Core Inflation Rate all came out at 12:30 pm, but none of them seemed to have a significant impact on the US Dollar. If you were watching USD/CAD, you'd have noticed it closed at 1.4057, unchanged on the day. And it's not like the data was expected to be a game-changer or anything, but still, a bit of a reaction would've been nice.
It's been a wild day, with the US Dollar losing ground after a mixed batch of economic data. If you were watching AUD/USD, you'd have noticed it traded higher near 0.6980, recovering from an initial decline. And honestly, it was pretty surprising to see the Aussie bounce back like that. But what really caught my attention was the USD/CHF, which has been on a rollercoaster ride this week, with sharp swings in both directions but little net progress. FXStreet pointed out that the pair remains under pressure as safe-haven demand for the Swiss Franc offsets modest support for the US Dollar.
It's been a wild ride today, with the US Dollar gaining ground against most majors, and you'd have noticed the Pound Sterling was one of the biggest losers, trimming its Wednesday gains versus the Greenback. The Philly Fed data was a big story, with the Manufacturing Index surprising sharply to the upside, which was pretty wild, and it likely reflected improved business sentiment following the Middle East tensions. FXStreet pointed out that the Pound dove by over 0.28% after solid US data and amid risk aversion, and that's augmented the safe-haven appeal of the Dollar.
The big story today was Fed Chair Kevin Warsh's testimony in front of the Senate Banking Committee, where he said current inflation pressure won't be permanent, which was pretty wild considering the latest inflation measures are still unsatisfactory. And honestly, it's been a while since we've seen the Fed take such a dovish stance, so this was a significant development. The market reacted quickly, with the Pound Sterling rising by some 0.60% against the US Dollar after the latest Producer Price Index in the US showed prices edging lower. But what really caught my eye was the Bank of Canada's decision to leave its policy rate unchanged at 2.25%, which was widely anticipated, but Governor Tiff Macklem's hawkish tone in the press conference that followed was a surprise.
It's been a pretty wild day, with the US inflation figures coming in weaker than expected, which was honestly surprising, given the recent trends. The Core CPI and CPI s.a both missed their marks, and that sent the US Dollar tumbling, at least for a little while. If you were watching EUR/USD, you'd have noticed it didn't really budge, though - it's still stuck in that tight range. And the Yen? It's just cruising along, not really reacting to anything, with the US Dollar / Yen closing at 161.9630.
The yen's been on a wild ride lately, which was pretty wild, and today was no exception - it weakened again, pushing USD/JPY back above 162.00. According to FXStreet, higher energy prices and the fading impact from last week's verbal intervention are weighing on the currency. If you were watching USD/JPY, you'd have noticed it's been trading in a pretty tight range, but it looks like it's trying to break out. And honestly, it's not surprising, given the current market conditions.
It's been a pretty quiet day in the markets, but we've seen some interesting moves. The New Zealand Dollar is holding steady against both the Euro and the US Dollar, with the NZD/EUR and NZD/USD closing at 0.5029 and 0.5751, respectively. But the big story is the US Dollar itself, which didn't get much of a boost from stronger-than-expected jobless claims data. And honestly, it's not that surprising - FXStreet pointed out that the New York Fed's latest analysis warns many US firms still plan tariff-related price increases, implying persistent inflation. If you were watching GBP/USD, you'd have noticed it trading higher near the 1.3400 area, as the US Dollar failed to find support.
It's been a pretty quiet day in the markets, but the Fed Minutes release at 6:00pm was the main event, and it didn't disappoint. The Fed stayed dovish, which was pretty wild considering the recent rate hikes. If you were watching EUR/USD, you'd have noticed it barely budged, closing at 1.1410, but the real action was in the US Dollar Index, which consolidated modest gains on the day. And honestly, it's not surprising given the renewed tensions between the US and Iran, which has everyone on edge.
It's been a wild ride, honestly. The US Dollar was all over the place, but it didn't really move much against the Yuan Renminbi, closing at 6.7929, which was pretty much unchanged. And if you were watching the New Zealand Dollar, you'd have noticed it didn't budge much either, closing at 0.5692 against the US Dollar. But here's the thing - the Euro was a different story, it was slightly softer against the US Dollar, but according to Scotiabank strategists Shaun Osborne and Eric Theoret, it's still supported by a sharp recovery in yield spreads and stronger German industry.
The week's off to a rocky start, with the US Dollar finding its footing despite some soft jobs data - which was pretty wild, considering how strong it's been lately. If you were watching EUR/USD, you'd have noticed it took a hit, trading around 1.142, and honestly, it's not looking great for the Euro right now. FXStreet pointed out that the Euro's trading on the back foot against the US Dollar, and it's hard to argue with that. The Pound Sterling, on the other hand, is steady, with GBP/USD near 1.3338, outperforming on crosses despite some weak construction Purchasing Managers' Index numbers.
The US jobs report came in weaker than expected, which was pretty wild, and it sent the US Dollar tumbling on Thursday. But on Friday, it stabilized, and we didn't see a whole lot of movement in the majors. If you were watching EUR/USD, you'd have noticed it held onto modest gains, but it struggled to extend its advance. The British Pound, on the other hand, steadied against the US Dollar, and it's poised to end the week with gains of over 1%.
The US economy added a mere 57,000 jobs in June, which was pretty wild considering forecasts were looking for 113,000. And if you were watching the news, you'd have noticed that prior months were also revised down by 74,000. This wasn't exactly what the Fed was hoping for, and it's no surprise that September Fed hike bets fell sharply. The dollar took a hit, especially against the yen, with USD/JPY falling 0.92% to trade around 161.05. But what's really interesting is that the euro gained against the dollar, which didn't seem like an obvious move given the overall economic landscape.