Deutsche Bank strategists report that falling energy prices and softer Federal Reserve (Fed) expectations helped push the S&P 500 and other major equity indices to new record highs last week.

The Indian Rupee (INR) opens on a negative note against the US Dollar (USD) at the start of the week. The USD/INR pair rebounds to near 95.22 as oil prices extend their recovery move and the US Dollar regains ground after a weak Friday.

USD/IDR holds gains after registering over 0.5% losses in the previous trading day, hovering around 17,860 during the Asian hours on Monday. The pair continues to trade with an upward bias as the Indonesian Rupiah (IDR) faces pressure following the release of domestic Consumer Confidence data.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is gaining ground after registering modest losses in the previous day and trading around 99.70 during the Asian hours on Monday.

Indonesia Consumer Confidence fell from previous 117.8 to 116.8 in July

Japan Current Account n.s.a. below expectations (¥1512B) in June: Actual (¥-92.3B)

Japan Current Account n.s.a. below expectations (¥1512B) in June: Actual (¥923B)

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.

West Texas Intermediate (WTI) oil price depreciates after registering over 4% gains in the previous trading day, hovering around $76.40 per barrel during the Asian hours on Monday.

DBS Group Research anticipates China’s credit demand to stay weak in July, with new Yuan loans around RMB 10.8 billion and M2 growth at 8% year-on-year. Corporate and household medium- to long-term lending are likely to soften amid cautious borrowing and mortgage prepayments.

United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann see USD/CNH confined to a narrow intraday range, with flat momentum suggesting consolidation between 6.7450 and 6.7550.

DBS Group Research expects Singapore’s final 2Q26 GDP to be revised up to 5.9% year-on-year and 1.3% quarter-on-quarter seasonally adjusted, driven by stronger manufacturing and services.

A US official says that there is progress in Oman-Iran talks and that a deal could be signed soon, according to Reuters. Once the deal is announced, this would restore commercial shipping, and the US would lift the blockade. 

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.

Commerzbank’s FX analysts, including Charlie Lay and Moses Lim, note that USD/IDR slipped slightly but stayed below the key 18,000 level as softer global Oil prices and stronger Indonesia Q2 GDP supported the Rupiah.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note USD/SGD has firmed modestly, with the pair closing at 1.2835 after testing both 1.2800 and 1.2840. Short-term momentum now favors a mild upside, though strong resistance at 1.2850 is expected to cap gains.

TradingKey - According to media reports, sources said the Trump administration has taken its personnel pressure on the Federal Reserve a step further by formally launching removal proceedings against

Standard Chartered’s Aldian Taloputra notes Indonesia’s Q2 GDP grew 5.3% year-on-year, slowing from 5.6% but beating consensus. Stronger-than-expected H1 data leads the bank to raise its 2026 GDP forecast to 5.3%.

Royal Bank of Canada’s (RBC) Nathan Janzen reports that Canada’s labour market strengthened in July, with a 75k employment gain following robust increases in May and June and a decline in the unemployment rate to 6.4%.

The New York Fed Survey of Consumer Expectations shows that households’ inflation expectations decreased slightly over the short-term horizon and remained unchanged at the medium and longer-term horizons. One-year inflation expectations eased from 3.7% in June to 3.6% in July

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.

National Bank of Canada (NBC) economists Matthieu Arseneau and Alexandra Ducharme highlight robust Canadian labour data for July, with 75.1K jobs added, a lower unemployment rate and stronger private-sector hiring.

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

Thomas Barkin, President of the Federal Reserve (Fed) Bank of Richmond, participated in an online event hosted by the National Association for Business Economics on Friday.

TD Securities economists Robert Both and Emma Lawrence highlight a strong Canadian labour market, with July employment up 75k and unemployment at 6.4%.

Societe Generale’s Dev Ashish reports that Banxico left its policy rate at 6.50%, signalling an extended pause as inflation hovers near target and real rates sit close to neutral.

Commerzbank’s Carsten Fritsch notes that the Silver price has surged over 10% this week to USD 63.9 per troy ounce, its highest level since late June, pulling the gold/silver ratio back below 70.

TradingKey - The latest data released by the U.S. Department of Labor shows that U.S. nonfarm payrolls decreased by 23,000 in July, ending the previous trend of continuous growth and indicating that t

Nordea analysts Kirsti Sunde Midttun and Ole Håkon Eek-Nielsen argue that AI profitability faces structural pressure from high inference costs, rapid model depreciation and growing competition from free and open alternatives.