EUR/USD trades on the front foot on Wednesday as broad US Dollar (USD) weakness, led by a sharp rally in the Japanese Yen (JPY), supports the pair. At the time of writing, EUR/USD trades around 1.1647, up 0.20% on the day.
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Societe Generale economist Kunal Kundu expects India’s August Consumer Price Index (CPI) inflation to rise to around 4.8% year-on-year from 4.4% in July, the highest reading under the new CPI series.
BNY’s Geoff Yu notes USD/JPY slipping back below 153 as markets heed U.S. Treasury Secretary Scott Bessent’s warning on testing Japanese Yen intervention. The report stresses that a sustained move depends on a broader Bank of Japan tightening cycle.
ING’s Chris Turner notes the Dollar has been unexpectedly soft despite higher energy prices and firm short-dated US rates ahead of the US August CPI and a likely 25bp Fed hike.
Private-sector hiring in the US has gained some pace in late August. According to the NER Pulse, the weekly companion to the ADP National Employment Report, companies added an average of 12K jobs per week in the four weeks ending August 22.
Nomura’s Anderson, Buckley and Szczepaniak expect the Swiss National Bank (SNB) to keep its 0.00% policy rate unchanged for the foreseeable future, with inflation below 1% and the neutral rate estimated at around 0%.
TradingKey - 동부표준시 9월 9일 미 증시 개장 전 거래에서 3대 주요 지수 선물이 일제히 하락했다. 보도 시점 기준 다우존스 선물은 0.54% 하락했고, S&P 500 선물은 0.26%, 나스닥 100 선물은 0.35% 내렸다.[출처: CME 그룹]유가 상승과 미국 국채 금리 상승이 개장 전 거래의 주요 시장 동인으로 작용했다. 장중 브렌트유
DBS Group Research strategist Chang Wei Liang reiterates that USD/JPY has likely peaked for this cycle, with the pair retreating toward 153 as the Japanese Yen (JPY) leads G10 and Asian currencies.
EUR/GBP trades in a narrow range on Wednesday as buyers struggle to extend Tuesday’s rebound. The 100-period Simple Moving Average (SMA) at 0.8599 limits the immediate upside, although momentum indicators retain a modest bullish bias.
TradingKey - 미 동부시간 9월 9일 수요일 장 개장 전 거래에서 미국 3대 주가지수 선물은 신중한 흐름을 보였다. 미국과 이란 간의 군사적 충돌이 더욱 격화된 가운데, 브렌트유는 7월 이후 처음으로 배럴당 100달러를 돌파했다. 유가 급등은 인플레이션 반등과 고금리 장기화 가능성에 대한 시장의 우려를 자극하며 미국 주가지수 선물에 부담을 가했다.
Ripple (XRP) ticks higher, trading at $1.42 on Wednesday while building on a recently confirmed support range between $1.30 and $1.35. The token also sits above major moving averages, reinforcing the bullish outlook.
ING’s Frantisek Taborsky expects the Polish central bank to keep rates at 3.75% as Middle East tensions and higher Oil prices limit easing scope. Markets now price around 80bp of tightening, similar to the Czech Republic, but the NBP is less hawkish.
The New Zealand Dollar trades lower against the US Dollar (USD) for the third consecutive day on Wednesday, extending losses below 0.5850 to test four-week lows at the 0.5835 area.
BNY Mellon’s Geoff Yu highlights Brent crude breaking above $100/barrel, with institutional investors rebuilding exposure to energy stocks while retail investors take profits.
The British Pound (GBP) trades 0.3% lower at around 207.80 against the Japanese Yen (JPY) during the European trading session on Wednesday.
USD/JPY declines 0.39% on Wednesday and trades around 153.40 at the time of writing. The Japanese Yen (JPY) benefits from renewed demand as investors increase their bets on further monetary tightening by the Bank of Japan (BoJ).
Gold (XAU/USD) rebounds on Wednesday, snapping a three-day losing streak, but struggles to extend its recovery.
Commerzbank’s Antje Praefcke argues that despite currently low Swedish inflation readings, the Riksbank is likely to maintain its guidance that the policy rate could rise by year-end.
Nomura’s analysts see Norges Bank delivering another rate hike in November as inflation remains sticky, before a 25 bp cut next year and further reductions beyond 2027 towards 3.50%.
The US Dollar (USD) is failing to capitalise on the risk-averse market this week, as tensions in the Gulf escalate, threatening to widen into a full regional war.