TradingKey - Japan is set to release July inflation data on 22 August 2025. Market consensus predicts that the national Consumer Price Index (CPI) excluding fresh food will see its year-on-year increa

The S&P Global Ratings agency affirmed the US 'AA+/A-1+' sovereign ratings while maintaining a ‘Stable’ outlook on steady, albeit high, deficits.

US Secretary of State Marco Rubio said on Tuesday that he will work with European allies and non-European countries on security guarantees for Ukraine. 

Australia Westpac Consumer Confidence rose from previous 0.6% to 5.7% in August

Australia Westpac Consumer Confidence up to 98.5% in August from previous 0.6%

Ukraine’s President Volodymyr Zelenskyy late Monday emphasized the need for true peace and welcomed US involvement in security guarantees. Zelenskyy also confirmed major US arms purchase plans. 

New Zealand Producer Price Index - Output (QoQ) came in at 0.6% below forecasts (1%) in 2Q

New Zealand Producer Price Index - Input (QoQ) below forecasts (1.4%) in 2Q: Actual (0.6%)

United States (US) President Donald Trump confirmed that he would be beginning the preparation steps for a trilateral meeting between Russian President Vladimir Putin, Ukrainian President Volodymyr Zelenskyy, and himself at some point in the near future.

The US Dollar (USD) managed to leave behind part of Friday’s retracement, regaining upside impulse in a context of heightened caution ahead of the Trump-Zelenskiy gathering and the upcoming Jackson Hole Symposium.

United States (US) President Donald Trump announced an ongoing desire to resolve the ongoing Russia-Ukraine war during a joint press conference with Ukrainian President Volodymyr Zelenskyy on Monday.

United States NAHB Housing Market Index came in at 32 below forecasts (34) in August

Canada Canadian Portfolio Investment in Foreign Securities fell from previous $13.37B to $9.04B in June

Canada Foreign Portfolio Investment in Canadian Securities came in at $0.71B, above forecasts ($-4.75B) in June

Canada Housing Starts s.a (YoY) came in at 294.1K, above forecasts (265K) in July

Slight increase in momentum is likely to lead to US Dollar (USD) trading in a higher range of 7.1800/7.1950. In the longer run, downward momentum is building; for a continued decline, USD must first close below 7.1700, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

The much-anticipated summit between the US President and his Russian counterpart did not have a significant impact on the US dollar, despite the generally negative reporting in its aftermath (see the article below).

The summit in Alaska between US President Trump and Russian President Putin generated some diplomatic optics but no resolution or ceasefire. Talks reportedly centred around land swaps, security guarantees and the outline of a trilateral format with Ukraine.

The Western press was quick to conclude that Friday's summit between US President Donald Trump and Russian President Vladimir Putin was a failure in that Trump had been dragged down an off-ramp away from a ceasefire and renewed Russian sanctions.

EUR/CHF has stabilized above the 50-day moving average, reducing downside momentum. The pair now tests the 0.9500 resistance zone, where a breakout could pave the way for a broader rebound, while support remains at 0.9390/0.9360, Société Générale's FX analysts note.

EUR/GBP is looking more comfortable at the lower end of a 0.8600-0.8700 range, ING's FX analyst Chris Turner notes.

European currencies seem to be holding onto recent gains, ING's FX analyst Chris Turner notes.

West Texas Intermediate (WTI) price remains subdued after registering more than 1% losses in the previous session, trading around $62.10 per barrel during the early European hours on Monday.

Switzerland Industrial Production (YoY): -0.1% (2Q) vs previous 8.5%

Japan Tertiary Industry Index (MoM) came in at 0.5%, above expectations (0.3%) in June

USD/CAD loses ground after two days of gains, trading around 1.3800 during the Asian hours on Monday. The pair depreciates as the US Dollar (USD) could face further challenges amid the prevailing dovish tone surrounding the US Federal Reserve’s (Fed) policy outlook for September.

TradingKey - On 20 August 2025, the Eurozone will release its July Harmonised Index of Consumer Prices (HICP) data. Market consensus anticipates the headline HICP to rise by 2% year-on-year, with the

US President Donald Trump said early Monday that Ukrainian President Volodymyr Zelenskiy can end the war with Russia almost immediately if he wants to, or he can continue to fight.

United Kingdom Rightmove House Price Index (YoY) rose from previous 0.1% to 0.3% in August

United Kingdom Rightmove House Price Index (MoM): -1.3% (August) vs previous -1.2%