News/Event

Societe Generale analysts highlight CNY’s firm trend, with the currency advancing to 6.7424, its strongest level since February 2023, on Dollar weakness and lower US yields.

The US Dollar Index (DXY) extended its slide on Friday, holding below 100.00 at fresh lows after a fourth straight soft US data print.

The EUR/USD registers gains of over 0.32% as traders face key resistance at the 100-day Simple Moving Average (SMA) at 1.1567, as bulls eye the 1.1600 psychological figure. At the time of writing, the pair trades at 1.1564 after bouncing off daily lows of 1.1526.

Ethereum (ETH) derivatives interest has been ranging sideways over the past week after a mild flip in seller dominance.

USD/CAD extends its decline farther below 1.4000 on Friday and heads for a third consecutive weekly loss. At the time of writing, the pair trades around 1.3877, at levels last seen in early July.

TD Securities’ Robert Both expects Canadian headline CPI to rise to 2.9% year-on-year in July, driven by higher gasoline and food prices, while ex. food/energy components stay muted.

Nordea strategists argue that while near-term risks for the Dollar are broadly balanced, the longer-term outlook remains negative.

Royal Bank of Canada (RBC) economist Claire Fan highlights that Canadian growth rebounded strongly in Q2, supported by resilient domestic demand and improving net trade. She notes that U.S.

TD Securities’ Ryan McKay and Bart Melek note that CTA (Commodity Trading Advisors) net long positioning in Gold is becoming more entrenched as discretionary demand improves.

MUFG’s Lee Hardman notes the US Dollar (USD) is trading on a softer footing as Fed rate hike expectations are scaled back following weaker labour data and a mixed United States (US) Producer Price Index (PPI) report.

TD Securities’ Oscar Munoz argues that Chair Kevin Warsh’s communication strategy has undermined market confidence in the Federal Reserve’s inflation-fighting resolve.

Danske Bank’s Danske Research Team notes that US July PPI came in slightly below expectations, with volatile trade and transport services dragging the headline lower while broader services stayed firm.

The British Pound (GBP) trades 0.35% higher to near 1.3533 against the US Dollar (USD) during the European trading session on Friday.

Brown Brothers Harriman’s (BBH) Elias Haddad notes the USD index (DXY) is trading near the lower end of its recent 99.50–100.00 range as cooling United States (US) Consumer Price Index (CPI) and Producer Price Index (PPI) have cut implied odds of a September Fed rate hike.

The Canadian Dollar (CAD) outperforms a majority of its currency peers on Friday, with the USD/CAD pair trading 0.32% lower at around 1.3888. The Canadian currency gains on hopes of a United States (US)-Canada interim deal.

The New Zealand Dollar (NZD) appreciates on Wednesday as the US Dollar (USD) loses ground across the board amid dwindling hopes of immediate Federal Reserve interest rate hikes.

The University of Michigan (UoM) will release the preliminary estimate of August’s Consumer Sentiment Index on Friday.

The Euro (EUR) holds moderate gains against the US Dollar (USD) on Friday, as Eurozone Gross Domestic Product (GDP) came in line with market forecasts while June's Trade Balance beat forecasts.

Rabobank strategist Elwin de Groot reports that the Reserve Bank of Australia (RBA) left rates unchanged, with markets initially reading the statement as dovish.

TD Securities’ Gennadiy Goldberg and Molly Brooks analyze the Federal Reserve’s decision to halt Reserve Management Purchases (RMP) after tapering from $40bn to $10bn per month.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, continues to lose ground through the first half of the European session on Friday and retreats further from a two-week high, touched the previous day.

Societe Generale notes India’s headline CPI rose slightly to 4.45% year-on-year in July, backing the RBI’s decision to keep policy unchanged. The central bank has reportedly been active in FX markets as the trade deficit widened.

Deutsche Bank analysts highlight that Brent Oil has finally broken a six-day winning streak, with prices pulling back modestly as some geopolitical risk premium is removed.

ING FX Strategist Francesco Pesole highlights that EUR/USD appears modestly undervalued, with short-term fair value estimated around 1.160–1.1650 based on swap spreads.

Here is what you need to know on Friday, August 14:

The Euro (EUR) is trading practically flat against the British Pound (GBP) on Friday, holding moderate gains after bouncing from three-week lows on Thursday. The EUR/GBP pair, however, is struggling to find significant acceptance above 0.8550, and remains on track for a 0.2% weekly loss.

The Bank of Japan (BoJ) is set to raise interest rates as soon as September and is likely to hike more aggressively thereafter from the current pace of roughly twice a year, three sources familiar with its thinking told Reuters.

West Texas Intermediate (WTI), futures on NYMEX, trades 0.4% higher around $81.40 during the early European trading session on Friday.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is losing ground for the second successive day, trading around 99.90 during the Asian hours on Friday.

Ethereum (ETH) continued to consolidate in the tight $1,800-$2,000 range on Thursday amid weak signals across key on-chain metrics.

SharpLink Gaming (SBET) announced plans to stake $200 million in Ethereum (ETH) through Lido as part of its strategy to generate returns from its ETH treasury, according to a Thursday announcement.

The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 99.90 in the Asian trading hours on Friday. The DXY weakens following cooler US inflation data.

The USD/JPY pair loses traction to near 159.45 during the Asian trading hours on Friday. Softer US inflation reports and fears of currency intervention weigh on the US Dollar (USD) against the Japanese Yen (JPY).

The EUR/USD pair gains ground to near 1.1535 during the early Asian session on Friday. The US Dollar (USD) softens against the Euro (EUR) following a softer-than-expected US inflation report. The US July Retail Sales data will take center stage later on Friday. 

The largest weekly build in American Crude Oil inventories in three and a half years landed on Wednesday into a market that two forecasting agencies spent the same morning describing as physically short, and the barrel has been selling since.

USD/JPY is trading sideways on Thursday, hovering in the mid-159.00s and holding within its recent range. It is more of the same for the pair, which continues to move in consolidation as opposing forces cancel each other out.

Gold (XAU/USD) price declines on Thursday as the US Dollar (USD) trims some of its earlier losses, as economic data in the US showed that the disinflation process continues, amid a moderately softening jobs market.

AUD/USD is trading little changed on Thursday, shrinking near the 0.7050s below the multi-week high reached on Wednesday near 0.7091. The pair holds its ground after US data pointed to cooling price pressure, keeping the US Dollar (USD) stagnant.

The Japanese Yen (JPY) struggles to gain traction against the US Dollar (USD) on Thursday, even as the Greenback weakens modestly following softer-than-expected US Producer Price Index (PPI) data. The Yen strengthened immediately after the release, briefly pushing USD/JPY toward 159.

The Pound Sterling registers modest gains versus the Greenback as US inflation data in the producer side came below or aligned with estimates, revealing that the disinflation process continued. The GBP/USD trades at 1.3503, up 0.06%.

TD Securities reports that United Kingdom (UK) Gross Domestic Product (GDP) for June surprised to the upside at 0.3% m/m, driven by a strong services sector expanding 0.4% m/m. May was revised to flat, leaving June as the only positive month in Q2.

EUR/GBP is trading sideways on Thursday near the 0.8540 level, with the Euro (EUR) steadying after three consecutive days of losses despite the Pound Sterling (GBP) gaining support from UK economic growth data that was broadly in line with expectations.

Rabobank's Senior FX Strategist Jane Foley analyzes the US Dollar’s (USD) evolving relationship with Oil and its safe haven role.

India’s Consumer Price Index (CPI) inflation accelerated slightly to 4.45% year-on-year in July from 4.38% in June, primarily propelled by rising food costs.

Brown Brothers Harriman’s (BBH) Elias Haddad highlights USD/JPY trading just below 160.00 as Japan’s government signals support for faster Bank of Japan (BoJ) rate hikes, reinforcing narrowing US–Japan differentials and a lower USD/JPY case.

Brown Brothers Harriman’s (BBH) Elias Haddad notes NZD/USD briefly dipped below its 200-day moving average as the Reserve Bank of New Zealand (RBNZ) Q3 inflation expectations survey showed mixed but well-anchored readings near the 2% midpoint.

EUR/GBP edges higher on Thursday as the Euro (EUR) draws support from hawkish European Central Bank (ECB) expectations, overshadowing stronger-than-expected UK Gross Domestic Product (GDP) data that would otherwise have supported the British Pound (GBP).

Gold (XAU/USD) posts marginal losses on Thursday, after meeting resistance at the $4,450 area, yet with price action holding just above previous highs around $ 4,380 at the time of writing.

Brown Brothers Harriman’s (BBH) Elias Haddad notes GBP/USD trading directionless near 1.3500 as United Kingdom (UK) Q2 and June Gross Domestic Product (GDP) data show encouraging activity. Growth was driven by investment and consumption, with government spending a drag.

UOB’s Alvin Liew assesses United States (US) inflation and Federal Reserve (Fed) policy after the July Consumer Price Index (CPI) report. Liew notes headline and core CPI remain above the Fed’s 2% target but sees inflation gradually easing, with headline CPI averaging 3.5% and core 2.8% in 2026.

The EUR/USD pair drops to a one-and-a-half-week low during the first half of the European session, though it manages to recover a few pips from the vicinity of the 1.1500 psychological mark.

BNY’s Geoff Yu argues that the July Fed meeting marked a peak in Dollar dehedging rather than an end to U.S. exceptionalism. Cross-border investors are rebuilding USD hedges, reducing effective unhedged U.S. exposure while maintaining broadly solid underlying demand for U.S. assets.

ING analysts Warren Patterson and Ewa Manthey note Oil prices have eased, with Brent crude ending largely flat as US-Iran talks remain in deadlock and Russian port infrastructure escapes major damage.

The British Pound (GBP) attracts slight bids against the Japanese Yen (JPY) during the European trading session on Wednesday, following the release of the preliminary United Kingdom (UK) Q2 Gross Domestic Product (GDP) data.

The Australian Dollar (AUD) trades 0.17% lower at around 0.7050 against the US Dollar (USD) during the early European trading session on Thursday.

The USD/CHF pair prolongs the weekly uptrend for the fourth consecutive day and climbs to a two-week high, around 0.8045, during the Asian session on Thursday amid a firmer US Dollar (USD). Moreover, the fundamental backdrop favors bulls and backs the case for further appreciation for spot prices.

Gold (XAU/USD) retreats after touching a fresh high since June 5, around the $4,450 area, during the Asian session on Thursday and is currently placed near the lower end of its daily range.

New Zealand's (NZ) inflation expectations ease on a two-year frame in the third quarter of 2026, the Reserve Bank of New Zealand’s (RBNZ) latest monetary conditions survey showed on Wednesday.

Bitcoin (BTC) is showing signs of growing market exhaustion, with weakening liquidity and subdued demand leaving the market vulnerable to a sharp move, according to a Glassnode report on Wednesday.

DBS Group Research’s Radhika Rao reports that Indonesia’s onshore markets welcomed President Prabowo’s nomination of Deputy Governor Destry Damayanti as the next Bank Indonesia Governor.

The Euro reversed course after reaching a two-day high of 1.1563, following the release of a benign US inflation report for July, which triggered a repricing for a less “hawkish” Federal Reserve, throughout 2026.

Silver price surges over 1.40% on Wednesday as the latest inflation report in the United States (US) shows that prices are cooling, on its way towards the Federal Reserve’s goal of 2%. The XAG/USD trades at $65.53.

The Japanese Yen trims its gains against the US Dollar (USD) on Wednesday as in-line US CPI data fails to trigger a significant move. At the time of writing, USD/JPY trades around 159.20 after touching an intraday low of 158.58.

BNY notes Crude Oil prices remain elevated as doubts over a U.S.–Iran deal heighten supply concerns. The IEA reports global Oil markets tightened further in July, with demand, supply, refining runs and inventories all affected by geopolitical disruptions and high fuel prices.

Silver (XAG/USD) accelerates its advance on Wednesday and trades around $66.00 at the time of writing, up 2.18% on the day.

TD Securities strategists note that July US inflation came in broadly in line with expectations, with headline CPI rising 0.1% m/m and core CPI increasing 0.2% m/m.

Scotiabank strategists Shaun Osborne and Eric Theoret report the British Pound (GBP) is posting fractional gains versus the US Dollar (USD) and outperforming G10 peers as improving sentiment supports price action.

National Bank of Canada's (NBC) Jocelyn Paquet analyzes how China’s sharp reduction in petroleum imports helped offset the Middle East supply shock and limit Oil price gains. The July rebound in Chinese imports is highlighted as historically large in percentage terms.

The US Dollar (USD) reflects a sideways performance against its peers ahead of the United States (US) Consumer Price Index (CPI) data is scheduled to be published at 12:30 GMT.

Brown Brothers Harriman’s (BBH) Elias Haddad notes markets are steady ahead of the United States (US) July Consumer Price Index (CPI) release, which is seen as pivotal for Fed funds expectations and the Dollar.

OCBC’s Sim Moh Siong and Christopher Wong highlight that the US Dollar (USD) stayed mixed as markets waited for the key United States (US) Consumer Price Index (CPI) release, with Middle East tensions and hawkish Federal Reserve (Fed) rhetoric offsetting each other.

The GBP/USD pair extends its sideways consolidation around the 1.3500 psychological mark through the first half of the European session on Wednesday. Traders opt to wait on the sidelines ahead of important macro data from the US and the UK.

The Swiss Franc (CHF) is down against its major currency peers during the European trading session on Wednesday. As of writing, USD/CHF trades 0.17% higher at around 0.8125.

DBS Group Research Strategist Chang Wei Liang highlights that the Japanese Yen (JPY) remains undervalued but that this undervaluation has narrowed after Japan’s second FX intervention of 2026, conducted jointly with the United States (US).

The GBP/JPY cross climbs to a nearly two-week high, around the 215.35-215.40 area, during the first half of the European session on Wednesday and looks to prolong its recent solid recovery from the lowest level since early March, touched last week.

OCBC’s Sim Moh Siong and Christopher Wong note the Reserve Bank of Australia (RBA) kept rates unchanged at 4.35% but retained a modest tightening bias, with the Board having actively considered a hike.

MUFG’s Teppei Ino reviews recent USD/JPY price action following coordinated Japan-US intervention. The pair opened near 157.58, dropped toward 155.20 on official confirmation of joint action, then recovered and traded above 158 by 7 August.

Here is what you need to know on Wednesday, August 12:

Gold prices rose in India on Wednesday, according to data compiled by FXStreet.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending gains for the third successive day and trading around 99.90 during the Asian hours on Wednesday.

NZD/USD continues its losing streak for the third consecutive day, trading around 0.5870 during the Asian hours on Wednesday. The pair depreciates as the US Dollar (USD) gains ground on increased safe-haven demand amid rising uncertainty surrounding Middle East peace talks.

The USD/JPY pair touches a one-and-a-half-week high during the Asian session on Wednesday, with bulls now looking to build on the momentum further beyond mid-159.00s amid a supportive fundamental backdrop.

The Reserve Bank of Australia (RBA) unanimously held rates at 4.35% in August, but major economic forecasters offer varying takes on what comes next:

On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7882 compared to the previous day's fix of 6.7900 and 6.7430 Reuters estimate.

The EUR/USD pair struggles to gain any meaningful traction and holds steady around mid-1.1500s during the Asian session on Wednesday, within a familiar range held over the past week or so.

West Texas Intermediate (WTI) oil price extends its gains for the third successive day, trading around $82.70 per barrel during the Asian hours on Wednesday. Crude oil prices advance as investors weigh mixed signals regarding a potential deal between the United States (US) and Iran.

Over the past two years, Ethereum (ETH) has faced one of its biggest challenges — its circulating supply has been in an uptrend, a direct stab at its ultrasound money thesis.

The single currency registers minimal losses against the Greenback on Tuesday as traders and market participants prepare for the release of the US Consumer Price Index (CPI) on Wednesday, which could set the path for the future of US monetary policy.

Commerzbank’s energy team notes fading hopes for a US–Iran agreement to reopen the Strait of Hormuz, driving Brent toward USD 90 and gas oil to nearly USD 1,350 per ton. Drone attacks on refineries in Saudi Arabia, Russia, Libya and tight diesel supply add to the risk premium.

The Pound Sterling holds firm against the Greenback on Tuesday following the release of US jobs data, which was softer than expected, while investors await US inflation data and UK data releases on Thursday. The GBP/USD trades at 1.3508, nearly unchanged.

USD/CAD trades under pressure on Tuesday, staying on the back foot for a third straight day. However, the pair lacks follow-through selling as the US Dollar (USD) holds firm ahead of Wednesday’s US Consumer Price Index (CPI) data.

Brown Brothers Harriman’s (BBH) Elias Haddad explains USD/JPY has retraced half of its post-intervention drop, with US–Japan rate spreads already narrowing in favor of the Japanese Yen (JPY).

AUD/USD trades moderately higher above the 0.7060 price region after the Reserve Bank of Australia (RBA) left interest rates unchanged at 4.35% in a unanimous decision at the August monetary policy decision.

Rabobank's Senior FX Strategist Jane Foley examines Japanese inflation dynamics and Bank of Japan policy. The report notes elevated Oil prices and supply risks, but stresses BoJ’s focus on core inflation and wage-driven pressures after decades of deflation.

Silver (XAG/USD) extends its correction on Tuesday and trades around $65.05 at the time of writing, down 2.31% on the day.

OCBC’s Sim Moh Siong and Christopher Wong note the US Dollar (USD) softened as Fed hike expectations moderated and the US yield curve steepened.

Talks between Oman and Iran have reached an advanced stage, Qatar’s Foreign Ministry spokesperson said on Tuesday.

HSBC strategists discuss the sharp post-intervention drop following coordinated action by Japan’s Ministry of Finance and the US Treasury. They argue that joint intervention is more effective than unilateral moves but unlikely to change the broader trend without improved Japanese fundamentals.

The US Dollar Index (DXY) appreciates for the second consecutive day on Tuesday, favoured by a mix of concerns about the stalled US-Iran negotiations and hawkish Fed speak, which keeps hopes of a September rate hike alive.

Rabobank's Senior Macro Strategist Bas van Geffen reports that the Australian Dollar (AUD) slipped briefly after the RBA left its policy rate unchanged, as markets interpreted the statement and downgraded growth and inflation forecasts as dovish.

Deutsche Bank strategists highlight that Brent Oil has broken above $85, closing near $88 as the Strait of Hormuz remains shut and rhetoric between the US and Iran escalates.

EUR/CAD continues its losing streak for the fifth consecutive day, trading around 1.6080 during the European hours on Tuesday. The Euro (EUR) is under pressure as rising risk aversion, driven by escalating US-Iran tensions, weighs on the cross.

Societe Generale strategists note the Japanese Yen (JPY) remains the main G10 laggard despite higher domestic yields and Bank of Japan (BoJ) tightening.

TD Securities’ Prashant Newnaha and Alex Loo note that the Reserve Bank of Australia left the cash rate at 4.35% in a unanimous decision, with the Statement and updated forecasts sounding less hawkish than expected.

Silver (XAG/USD) trades lower on Tuesday, retreating to levels below $64.50, after rejection at seven-week highs around $66.60 on Monday.

The Euro (EUR) nudges lower against the US Dollar (USD) on Tuesday, weighed by the stalemate in the US-Iran negotiations and higher oil prices, which put additional pressure on the crude-importing eurozone economies.

The AUD/USD pair slides below mid-0.7000s after the Reserve Bank of Australia (RBA) announced its policy decision, though it lacks follow-through.

The broader cryptocurrency market shows mixed sentiment as Bitcoin (BTC) drops to $64,000 under institutional selling pressure. The Fear and Greed Index at 37, down from 40 the previous day, signals renewed bearish pressure.

Gold (XAU/USD) scales higher for the third consecutive day – also marking the fifth day of a positive move in the previous six – and climbs to its highest level since June 5, further beyond the $4,400 mark during the Asian session on Tuesday.

West Texas Intermediate (WTI) oil price moves little after registering gains over 6.5% in the previous day, trading around $81.40 during the Asian hours on Tuesday.

BlackRock’s Head of Digital Assets Robert Mitchnick said the company has reduced the minimum for Bitcoin (BTC) exchange-traded fund (ETF) in-kind conversions from $25 million to $1 million.

The New Zealand Dollar (NZD) trades near 0.5900 against the US Dollar (USD) on Monday, giving back a little ground after a run toward multi-day highs last week.

Silver price (XAG/USD) climbs over 3% on Monday even though US Treasury yields had climbed, with the white metal refreshing one-month highs at $66.07. At the time of writing, the XAG/USD Trades at $65.76 with buyers eyeing key resistance levels.

West Texas Intermediate (WTI) jumps more than 6% on Monday, erasing last week’s losses as uncertainty over when the Strait of Hormuz will reopen keeps supply concerns and the geopolitical risk premium firmly in place. At the time of writing, WTI trades around $81.15 per barrel, near a one-week high.

Gold (XAU/USD) price edges up at the beginning of the week as the reopening of the Strait of Hormuz faces delays due to demands from Iran to the US, and is capped by the modest strength of the Greenback, with traders eyeing the release of crucial US inflation data.

Strategy (MSTR) reported on Monday the sale of Bitcoin (BTC) worth roughly $109 million between August 3 and August 9, raising money for its STRC stock buybacks.

Rabobank's Senior FX Strategist Jane Foley notes Eurozone Q2 Gross Domestic Product (GDP) and Purchasing Managers' Index (PMI) data surprised to the upside, suggesting resilience despite higher energy prices and supply disruptions.

TD Securities’ US economists Oscar Munoz and Eli Nir expect US output growth to move sideways in 2026 as the lingering Oil shock and Iran-related risks keep the Federal Reserve on hold through year-end.

GBP/JPY edges higher on Monday as the Japanese Yen (JPY) underperforms across the G10 currency space, with structural headwinds limiting the impact of recent intervention. At the time of writing, the cross trades around 214.70, up 0.85% on the day.

TD Securities’ commodity strategists report that Gold is holding gains after weaker US jobs data reduced perceived Fed hike risks, but CTAs (Commodity Trading Advisors) are unwinding length.

Societe Generale’s Kenneth Broux notes AUD/USD has defended its 200-DMA and established a pattern of higher highs and higher lows, signalling a short-term uptrend.

Brown Brothers Harriman’s (BBH) Elias Haddad notes that JPY is underperforming as firmer Oil prices support USD/JPY, while the Bank of Japan's (BoJ) latest meeting minutes did little to shift rate expectations.

MUFG’s Derek Halpenny notes that weaker US jobs data have not triggered a strong reaction in Dollar or rates, as markets await key Consumer Price Index (CPI) releases and another Nonfarm Payrolls (NFP) before the September Federal Open Market Committee (FOMC).

Rabıobank's Senior FX Strategist Jane Foley discusses recent EUR/USD strength, noting it was mainly driven by a softer Dollar after weak United States (US) labour data reduced Federal Reserve (Fed) rate hike expectations.

ING analysts Ewa Manthey and Warren Patterson note that Oil prices remain supported by uncertainty around the Strait of Hormuz as US-Iran negotiations continue.

Deutsche Bank strategists note that Friday’s mixed United States (US) Nonfarm Payrolls (NFP) report led to a notable repricing of September Federal Open Market Committee (FOMC) odds, with futures-implied probability of a hike falling to 44%.

The Australian Dollar (AUD) holds gains, in the mid-range of the 0.7000s against the US Dollar (USD) on Monday, with two-month highs of 0.7088 at hand. The Aussie is capitalising on the US Dollar’s weakness, as hopes of Federal Reserve (Fed) rate hikes wane.

Gold holds gains around $4,350, with two-month highs at $4,380 under pressure.

Bitcoin (BTC) holds above $65,000 at the time of writing on Monday, after recovering more than 2% last week, with bulls finding support around the 200-week Simple Moving Average (SMA). Strong spot Exchange Traded Funds (ETFs) inflows point to renewed institutional demand.

The USD/CHF pair struggles to attract any meaningful buyers and remains on the back foot below the 0.8100 mark through the first half of the European session on Monday.

BNY’s Geoff Yu and David Tam expect the Reserve Bank of Australia (RBA) to keep rates unchanged at 4.35%, noting that markets doubt its willingness to hike despite persistent inflation and robust labor and spending data.

The GBP/JPY cross catches aggressive bids at the start of a new week and builds on its strong recovery move from the vicinity of mid-209.00s, or the lowest level since early March touched last Monday.

The US Dollar (USD) edges up against its peers on Monday after a vertical decline on Friday. At press time, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades marginally higher to near 99.70.

The Euro (EUR) trades subduedly at around 1.1550 against the US Dollar (USD) during the early European trading session on Monday. The EUR/USD pair edges down as the US Dollar rebounds after a significant fall on Friday.

USD/CHF inches higher after registering over 0.5% losses in the previous trading day, hovering around 0.8090 during the Asian hours on Monday.

The broader cryptocurrency market holds steady, with Bitcoin (BTC) trading near $65,000, above its 50-day Exponential Moving Average (EMA) of $64,702. The Bank of Japan (BoJ) released the summary of opinions from its July meeting, with nearly half of the board members leaning hawkish.

The Bank of Japan (BoJ) published the Summary of Opinions from the July 30-31 monetary policy meeting, which showed a split between members wanting to hold rates to assess the impact of the last rate hike and others pushing to continue or accelerate tightening. Key findings noted below.

Standard Chartered’s Jonathan Koh and Edward Lee now expect Bangko Sentral ng Pilipinas (BSP) to keep its policy rate unchanged at the 27 August meeting, abandoning a previously projected hike.

US Treasury yields drop across the curve amid growing speculation that the Oman-Iran deal is about to be sealed, which has so far pushed energy prices lower, while investors also digest a “bad” Nonfarm Payrolls report in the US.

EUR/JPY trades on the back foot on Friday, easing away even as the Euro (EUR) posts solid gains against the US Dollar (USD). The Japanese currency surged suddenly near the start of the American session after a surprisingly weak United States (US) employment report.

ABN AMRO’s Chief Economist Nick Kounis highlights renewed US labour market weakness, with Nonfarm Payrolls falling and household employment data softening. He notes the unemployment rate declined as labour force participation dropped to multi-decade lows, signalling cyclical weakness.

USD/CHF edges lower on Friday, erasing most of the previous day’s gains as the US Dollar (USD) weakens following a downside surprise in the US Nonfarm Payrolls (NFP) report. At the time of writing, the pair trades around 0.8080, down 0.53% on the day.

TD Securities strategists Ryan McKay and Bart Melek highlight that strong discretionary and Asian buying is supporting Gold, even as CTA (Commodity Trading Advisors) positioning has plateaued.

Commerzbank’s Carsten Fritsch sees continued volatility in Brent as Strait of Hormuz negotiations remain unresolved and inventories tighten.

Silver (XAG/USD) jumps nearly 4% on Friday as buying accelerates following a decisive break above the 50-day Simple Moving Average (SMA) near $62. At the time of writing, the grey metal trades around $63.94 after briefly testing the $65 psychological mark.

The British Pound (GBP) strengthens against the US Dollar (USD) on Friday after a disappointing US Nonfarm Payrolls report prompts traders to scale back bets on Federal Reserve (Fed) interest-rate hikes. At the time of writing, GBP/USD trades around 1.3506, hovering near three-week highs.

Commerzbank’s Thu Lan Nguyen argues that the US Dollar's (USD) current support from perceived hawkish Federal Reserve (Fed) policy is likely to fade as markets reassess United States (US) rate expectations over coming quarters.

Brown Brothers Harriman’s (BBH) Elias Haddad expects the July United States (US) non-farm payrolls to show resilient labor demand, with consensus around 80k jobs and unemployment steady at 4.2%.

The Australian Dollar (AUD) trades slightly higher to near 0.7040 against the US Dollar (USD) during the European trading session on Friday.

Gold (XAU/USD) resumes its bullish trend on Friday, after a brief consolidation on Thursday, to reach fresh three-week highs above $4,300, with bulls aiming for mid-June highs in the $4,380 area.

Commerzbank’s Tatha Ghose reports that the Czech National Bank (CNB) kept its policy rate at 3.75% and returned to a wait-and-see stance after June’s 25bp hike, despite still citing upside inflation risks.

Silver (XAG/USD) resumes its near-term bullish trend on Friday, after a brief hesitation on Thursday, reaching fresh six-week highs at $63.90, although it is still due to confirm the break of the resistance area at $63.30.

The Euro (EUR) is trading flat around 1.1520 against the US Dollar (USD) on Friday, following a mild pullback from three-week highs at 1.1560 and on track for a minor weekly decline.

West Texas Intermediate (WTI), futures on NYMEX, extends Thursday’s recovery move slightly to near $77.80 during the day. The Oil price underperformed in the last two weeks on hopes of the Strait of Hormuz reopening, a critical chokepoint to almost 20% of global energy supply.

Ethereum (ETH) continues to trade sideways, hovering around $1,901 on Friday, hinting at a potential breakout ahead. Meanwhile, steady Exchange Traded Funds (ETFs) inflows and rising accumulation among large ETH holders suggest that bullish pressure could be building beneath the surface.

EUR/USD extends its losses for the second consecutive day, trading around 1.1520 during the Asian hours on Friday. The currency pair faces downward pressure as the US Dollar (USD) gains strength, propelled by renewed safe-haven demand among global investors.

Ethereum (ETH) large holders have been accumulating the supply of retail investors in 2026.

Hyperliquid Research Collective (HRC) reported on Thursday broad growth across Hyperliquid's key operating metrics in Q2 despite a decline in revenue, as adoption of its HIP-3 ecosystem and HYPE token continued to accelerate.

The US Dollar (USD) posted gains against every major currency on Thursday, with the US Dollar Index (DXY) up 0.26% near the 100.00 level as Oil rallied 3% on the reported Strait of Hormuz vessel ban, while Gold and Silver declined.

ING economists Deepali Bhargava and Lynn Song flag renewed policy uncertainty for the Indonesian Rupiah (IDR) after the surprise resignation of Bank Indonesia’s (BI) governor, just as sentiment toward Indonesian assets was improving.

Scotiabank’s team notes the Pound is fractionally weaker versus the Dollar, with fundamentals less supportive as yield spreads soften. However, sentiment is improving as markets fade earlier political concerns following PM Burnham’s arrival and stronger-than-expected construction PMI.

Some details of the Oman and Iran plan to manage the Strait of Hormuz revealed that ships belonging to the US, Israel and other “hostile” countries will be prohibited. 

Gold (XAU/USD) has staged a dramatic rebound, surging over 4% on Wednesday to move within striking distance of the $4,300/oz threshold.

Standard Chartered’s Christopher Graham analyzes recent United Kingdom (UK) polling, noting Labour has regained a lead over Reform UK and Conservatives after Andy Burnham became prime minister.

MUFG notes that USD/JPY remains well below pre-intervention levels. Japanese retail traders entered the episode with a record short position in the pair and likely covered those positions during the intervention-led decline, partially offsetting official yen purchases.

Gold (XAU/USD) consolidates its recent gains on Thursday after briefly climbing above $4,300 as the US Dollar (USD) steadies while traders await confirmation of a possible Iran-Oman agreement on the Strait of Hormuz. At the time of writing, XAU/USD trades around $4,270, up 0.53% on the day.

The cryptocurrency market is somewhat lethargic on Thursday, with Bitcoin (BTC) approaching $65,000, Ethereum (ETH) holding above $1,900 while Ripple (XRP) trades under pressure around $1.05.

Silver price (XAG/USD) holds onto two-day gains at around $62.00 during the European trading session on Thursday. The white metal trades firmly amid hopes of a further decline in oil prices.

The AUD/JPY cross attracts some sellers on Thursday, snapping a two-day winning streak and stalling this week's solid bounce move from its lowest level since late March.

Standard Chartered’s Nicholas Chia expects the Reserve Bank of Australia (RBA) to keep the cash rate at 4.35% at its 11 August meeting, with no further hikes this year. Q2 core inflation and short-term expectations have eased, while the labour market has softened.

OCBC’s Christopher Wong and Sim Moh Siong highlight a sharp rebound in Gold as easing Middle East tensions weighed on Oil and US Treasury yields, softening the US Dollar.

Here is what you need to know on Thursday, August 6:

The USD/CHF pair attracts some buyers near the 0.8060 region on Thursday amid a modest US Dollar (USD) uptick. Spot prices, for now, seem to have snapped a two-day losing streak and trade around the 0.8080-0.8085 region during the first half of the European session, up nearly 0.15% for the day.

Commerzbank’s Michael Pfister argues that lower Oil prices can initially restrain the Euro (EUR) by reducing European Central Bank (ECB) rate expectations.

The British Pound (GBP) trades marginally lower at around 1.3460 against the US Dollar (USD) during the European trading session on Thursday.

The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 99.75 in the early European trading hours on Thursday.

West Texas Intermediate (WTI), futures on NYMEX, trades 0.45% lower to near $74 during the early European trading session on Thursday, closer to its three-week low of $73.51 posted the previous day.

The GBP/USD pair drifts lower to near 1.3460 during the early European trading hours on Thursday. Conflicting rhetoric from the US and Iranian officials about a potential deal fuels market concerns, dragging the British Pound (GBP) lower against the US Dollar (USD).

The Indian Rupee (INR) opens almost flat against the US Dollar (USD) on Thursday. The USD/INR pair trades around 95.12 after rebounding from the fresh monthly low of 94.83 posted the previous day.

The GBP/JPY cross struggles to capitalize on this week's solid rebound from the vicinity of mid-109.00s, or a four-month low, and edges lower during the Asian session on Thursday.

Gold (XAU/USD) builds on the previous day's blowout rally of over 4% and advances for the fourth straight session, rising to its highest level since June 18 during the Asian session on Thursday.

The USD/CAD pair remains on the back foot during the Asian session on Thursday, with bears now awaiting a break below the 1.4000 psychological mark before positioning for an extension of the previous day's pullback from a one-week top.

AUD/USD steadies after two days of gains, trading around 0.7060 during the Asian hours on Thursday. The pair moves little as the Australian Dollar (AUD) remains silent following the release of domestic Trade Balance data.

The GBP/USD pair is seen consolidating its gains recorded over the past two days and trading around the 1.3470 region during the Asian session on Thursday.

Federal Reserve (Fed) Bank of San Francisco President Mary Daly said on Thursday that tariffs have had a clear impact on inflation, though she pointed to early signs that effect is beginning to ease.

Gold (XAU/USD) price surges to its highest level in nearly seven weeks, gaining nearly 3.80% on Wednesday as the Greenback loses ground and US Treasury yields fail to gain traction. The XAU/USD pair trades at $4,232, its highest level since June 18, after bouncing off daily lows of $4,065.

Silver (XAG/USD) jumps more than 4% on Wednesday as weaker-than-expected US ADP employment data and easing energy-driven inflation prompt traders to scale back expectations for Federal Reserve (Fed) rate hikes. At the time of writing, XAG/USD trades around $62.30, near its highest level in a month.

Societe Generale’s Kunal Kundu and Galvin Chia judge the Reserve Bank of India's (RBI) August policy outcome as neutral for the Indian Rupee (INR). They highlight fewer comments on INR and flows, but recall Governor Malhotra’s view that INR is not undervalued.

TD Securities strategists see the recent intervention-driven USD/JPY decline as cyclical rather than regime-changing. They expect December as the more likely timing for the next Bank of Japan (BoJ) hike and doubt sustained joint US‑Japan intervention support.

Brown Brothers Harriman’s (BBH) Elias Haddad notes the Dollar is mixed as global equities rise and Oil stabilizes. Haddad argues the USD rally from May has likely ended, with US Dollar Index (DXY) expected to consolidate in a 96.00–100.00 range.

Gold (XAU/USD) climbs to a one-month high on Wednesday as renewed optimism over the reopening of the Strait of Hormuz sends Oil prices lower. At the time of writing, XAU/USD trades around $4,155, up nearly 1.90% on the day.

The US Dollar (USD) reflects a subdued performance against its peers ahead of the United States (US) ADP Employment Change and the ISM Services Purchasing Managers’ Index (PMI) data for July, which will be published in the North American session.

Bitcoin (BTC) hovers near $64,000 at the time of writing on Wednesday, buoyed by a marginal improvement in crypto sentiment amid growing optimism that the United States (US) and Iran could potentially reach an agreement to open the Strait of Hormuz this week.

Gold (XAU/USD) has accelerated its recovery on Wednesday, favoured by a softer US Dollar as lower Oil prices and downbeat US macroeconomic data cooled market expectations of Federal Reserve (Fed) rate hikes on Tuesday.

The Australian Dollar (AUD) trades flat against the US Dollar (USD) at around 0.7050 during the European trading session on Wednesday. The Aussie pair struggles for a direction as investors await the United States (US) ADP Employment Change data for July, which will be published at 12:15 GMT.

The British Pound (GBP) claws back its early losses against the Japanese Yen (JPY) and edges higher to near 212.25 during the European trading session on Wednesday.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $74.50 during the early European trading hours on Wednesday. WTI declines on mixed US-Iran messages.

The Euro (EUR) remains practically flat against the British Pound (GBP) on Wednesday, trading at 0.8573 at the time of writing and holding gains from the last two days after bouncing from the 0.8540 area on Friday.

Commerzbank’s Thu Lan Nguyen argues that the recent historic intervention in USD/JPY, powered by US Treasury participation, may not secure a lasting Japanese Yen (JPY) recovery.

The GBP/USD pair posts modest gains near 1.3455 during the early European session on Wednesday, bolstered by softer US economic data and cooling US-Iran tensions. Traders brace for the US ADP Employment and ISM Services Purchasing Manager Index (PMI) reports, which are due on Wednesday.