News

Fed's Waller: Inclined to support policy hold if August inflation data shows progress

While speaking at the Reuters NEXT Newsmaker event in Washington, Federal Reserve Governor Christopher Waller said on Thursday that if August Consumer Price Index data confirms inflation pressures are cooling off, he is inclined to support holding the policy rate steady at the September policy meeti

Source  Fxstreet1788440034
European Central Bank: September hike with cautious path – TD Securities

TD Securities’ macro team, including Pooja Kumra, expects the ECB to raise the deposit rate by 25bp to 2.50% in September. They see limited forward guidance, with the Governing Council reiterating its data-dependent, meeting-by-meeting approach.

Source  Fxstreet1788439243
US Initial Jobless Claims increased to 206K last week

According to a report from the US Department of Labour (DOL) released on Thursday, the number of US citizens submitting new applications for unemployment insurance rose to 206K for the week ending August 29.

Source  Fxstreet1788438807
Federal Reserve: September hike bias shifts – ING

ING’s James Knightley argues Kevin Warsh’s Jackson Hole speech has shifted the Federal Reserve’s reaction function toward a September rate hike, even though ING’s macro projections suggest the Fed could wait.

Source  Fxstreet1788434974
Economists agree: ECB to hike rates on September 10 – Reuters poll

According to the latest Reuters poll, the 65 economists surveyed have favored that the European Central Bank (ECB) will raise the deposit rate by 25 basis points (bps) to 2.50%.

Source  Fxstreet1788434933
Swiss Franc: Swiss data supports dip-buying case – Societe Generale

Societe Generale strategists note Swiss August Consumer Price Index (CPI) and second-quarter Gross Domestic Product (GDP) surprised to the upside, triggering profit-taking in EUR/CHF and USD/CHF but leaving Swiss National Bank (SNB) policy expectations unchanged.

Source  Fxstreet1788429937
Japan’s Mimura keeps threat of FX intervention alive

Japan’s top currency diplomat Atsushi Mimura reiterates on Thursday that authorities remain ready to act in the foreign exchange market, as Tokyo continues to closely monitor currency moves.

Source  Fxstreet1788427564
Polish Zloty: NBP language turns cautious after FX pressure – Commerzbank

Commerzbank’s Tatha Ghose notes that NBP Governor Adam Glapinski used G20 remarks to shift towards a more neutral, flexible stance, avoiding earlier dovish hints of imminent rate cuts. With August CPI surprising hawkishly and the Zloty underperforming CE3 peers, the bank is seen on the back foot.

Source  Fxstreet1788427099
ISM Services PMI Preview: US service sector expected to expand in August

On Thursday, we’ll get the latest read on the US service sector when the Institute for Supply Management (ISM) publishes its August gauge. Consensus points to a marginal improvement to 54.3 from July’s 54.1.

Source  Fxstreet1788426000
Japanese Yen: Intervention jitters linger – ING

Chris Turner at ING notes that a near 1% drop in USD/JPY within minutes, followed by another slide, sparked talk of renewed Japanese intervention after the Bank of Japan’s earlier $96 billion sales.

Source  Fxstreet1788425506
Oil: Rally pace moderates after Iran strikes – Commerzbank

Commerzbank analysts note that Brent extended its rally and closed above USD95, although gains moderated after President Trump suggested the renewed US bombing campaign against Iran could be short-lived.

Source  Fxstreet1788423582
British Pound gains capped as fiscal, geopolitical risks persist

GBP/USD gains after two days of losses, trading around 1.3500 during the European hours on Thursday. The currency pair experiences an upward push as a sharp rally in the Japanese Yen (JPY) weighed heavily on the US Dollar (USD).

Source  Fxstreet1788422360
BoJ mulls hiking interest rates to 1.25% in September meeting – Bloomberg

According to a report from Bloomberg, the Bank of Japan (BoJ) is leaning toward raising its benchmark interest rate by a quarter point in the two-day meeting ending on September 18 in response to upward price risks.

Source  Fxstreet1788422178
US Dollar: Upside risks persist – ING

ING strategists Francesco Pesole, Frantisek Taborsky and Chris Turner note that a sharp USD/JPY move briefly weighed on the Dollar, but only Australian Dollar and Canadian Dollar held gains.

Source  Fxstreet1788420905
Equities: Stabilise with lower yields – Deutsche Bank

Deutsche Bank's Jim Reid notes that US equities stabilised after three consecutive declines, with the S&P 500 gaining 0.46% as strength in the Magnificent Seven, particularly Nvidia and Meta, supported the market.

Source  Fxstreet1788420099
Asian stock markets reflect mixed trend in countdown to US NFP data

Stock markets in the Asian region demonstrate a mixed performance as investors shift their focus to the United States (US) Nonfarm Payrolls (NFP) data for August, which will be released on Friday.

Source  Fxstreet1788417456
Indonesian Rupiah strengthens as US Dollar declines on potential Yen intervention

USD/IDR loses ground for the second successive day, trading around 17,730 during the Asian hours on Thursday. The currency pair experiences downward pressure as a sharp rally in the Japanese Yen (JPY) weighed heavily on the US Dollar (USD).

Source  Fxstreet1788412575
Australian Dollar weakens against Japanese Yen following China’s Services PMI data

AUD/JPY extends its losses for the fourth consecutive day, trading around 113.50 during the Asian hours on Thursday. The Australian Dollar (AUD) remains subdued following a wave of mixed economic data from Australia and China, putting downward pressure on the currency cross.

Source  Fxstreet1788402677
New Zealand rebounds above 0.5850 on stronger Chinese services PMI

The NZD/USD pair recovers some lost ground to near 0.5860, snapping the four-day losing streak during the early Asian session on Thursday. The New Zealand Dollar (NZD) strengthens against the US Dollar (USD) following the upbeat Chinese economic data.

Source  Fxstreet1788401657
China’s RatingDog Services PMI jumps to 51.4 in August, vs. 50.6 expected 

China's Services Purchasing Managers' Index (PMI) climbed to 51.4 in August from 50.4 in July, the latest data published by RatingDog showed on Thursday. This figure came in stronger than the market expectations of 50.6. 

Source  Fxstreet1788399981
Australia’s Trade Balance shows a surplus of 1,923M MoM in July, vs. 1,390 expected

Australia's Trade Balance narrowed to A$1,923M MoM in July, followed a surplus of 1,929M in the previous reading, according to the latest foreign trade data published by the Australian Bureau of Statistics on Thursday. The market consensus was for a surplus of A$1,390M. 

Source  Fxstreet1788399153
Euro steadies below 1.1600 as hawkish Fed rhetoric limits gains

The EUR/USD pair holds steady near 1.1590 during the early Asian session on Thursday. The potential upside for the major pair might be limited amid hawkish Federal Reserve (Fed) expectations and escalating conflict in the Middle East.

Source  Fxstreet1788396672

New Zealand Terms of Trade Index came in at -9% below forecasts (-2.2%) in 2Q

Source  Fxstreet1788389102
South Korean Won: Strong exports and BoK stance back gradual KRW gains – Commerzbank

Commerzbank highlights that South Korea’s export boom and a large trade surplus, combined with a hawkish Bank of Korea, are supportive for the Korean Won. They argue that changing FX flow dynamics should allow more of the surplus to translate into KRW strength.

Source  Fxstreet1788376020
Fed’s Beige Book shows modest growth as prices rise

The Federal Reserve released its Beige Book, in which the US central bank revealed that economic activity increased modestly since early July, while overall employment rose slightly. Regarding inflation, prices rose in eight districts.

Source  Fxstreet1788373308
Indonesian Rupiah: Higher oil prices add to IDR pressure - MUFG

MUFG’s Lloyd Chan remains cautious on the Indonesian Rupiah as domestic inflation accelerates and Gross Domestic Product (GDP) growth stays above 5%. The trade balance has improved slightly but remains weaker than 2025 averages due to higher Oil and gas imports.

Source  Fxstreet1788372466
Singapore Dollar: Downside risks remain against US Dollar – OCBC

OCBC’s Sim Moh Siong and Christopher Wong note that USD/SGD is rebounding alongside a stronger US Dollar (USD), supported by higher US Treasury yields and firmer Fed hike expectations.

Source  Fxstreet1788371023
British Pound: Break below 1.35 shifts focus lower against US Dollar – Scotiabank

Scotiabank strategists Shaun Osborne and Eric Theoret describe GBP/USD as soft but mid-pack within the G10, with domestic data and Bank of England (BoE) events limited ahead of Governor Bailey’s speech.

Source  Fxstreet1788369840

Russia Unemployment Rate rose from previous 2.2% to 2.3% in July

Source  Fxstreet1788364801
US August Nonfarm Payrolls Preview: How Much Will It Impact the Fed's September Rate Hike Decision?

TradingKey - The U.S. Bureau of Labor Statistics will release the August nonfarm payrolls report on September 4 Eastern Time. As the last full set of employment data before the Federal Reserve's Septe

Source  Tradingkey1788356275
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