BNY’s Geoff Yu says rising Swedish import prices and continued weakness in the krona are adding to inflation risks. He expects the Riksbank to adopt firmer language on SEK valuations and sees scope for the market to bring forward expectations for the next rate hike.

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 fell to 203K for the week ending August 22.

Societe Generale analysts highlight that Brent has pulled back after testing resistance at $95, a level defined by a prior downside gap and a descending trend line from April.

The European Central Bank (ECB) Accounts of the July 22-23 monetary policy meeting show that policymakers remain open to further monetary tightening despite unanimously deciding to keep interest rates unchanged.

Standard Chartered economist Dan Pan expects the Bank of Canada (BoC) to keep its policy rate at 2.25% and delay a 25bps cut to December, citing a Q2 growth rebound that reduces the need for immediate easing.

Societe Generale’s Kenneth Broux and colleagues note that EUR/GBP has rebounded sharply after forming an interim low near 0.8450 in July, but the recovery has stalled around 0.8585.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is remaining stronger for the second successive day and trading around 99.20 during the European hours on Thursday.

DBS Group Research strategist Sherilyn Chew says hawkish Reserve Bank of India (RBI) minutes and volatility at the long end of the US Treasury market have pushed India rates higher.

BNY’s Geoff Yu argues that Euro strength is amplifying import price pass-through risks for Poland, with EUR/PLN gains feeding into higher import prices. The Monetary Policy Council’s guidance of unchanged rates contrasts with market pricing for a return above 4%.

OCBC Bank strategists Sim Moh Siong and Christopher Wong note Australian inflation surprised on the upside, keeping alive the risk of another Reserve Bank of Australia (RBA) hike even as their base case is that the tightening cycle has ended.

GBP/USD remains subdued for the second successive day, trading around 1.3590 during the European hours on Thursday. The pair depreciates as the US Dollar (USD) remains stronger following the robust economic data released on Wednesday.

In a statement on Thursday, a spokesperson from China's Commerce Ministry said, regarding the United States (US) overcapacity tariff, “We will continue to closely monitor and comprehensively assess the follow-up measures taken by the US.” The spokesperson added, “We reserve the right to take all nec

Here is what you need to know on Thursday, August 27:

The Deutsche Bank strategists describe a modestly positive shift in equity sentiment following Nvidia’s earnings. After a quiet cash session for the S&P 500 and Nasdaq, Nvidia’s revenue beat and bullish AI outlook pushed its shares up 4.7% after-hours, lifting S&P 500 and Nasdaq futures.

USD/IDR gains ground for the third successive day, trading around 17,800 during the Asian hours on Thursday. The currency pair is under downward pressure as the Indonesian Rupiah (IDR) struggles against fragile domestic sentiment.

Bank of Japan (BoJ) Deputy Governor Ryozo Himino said on Thursday that the central bank will reach decision on rates balancing need to gain information on economy, financial conditions, and acting in timely fashion to avoid being behind the curve on inflation.

The South Korean Won (KRW) trades higher against the US Dollar (USD) on Thursday, with USD/KRW falling 0.3% to near 1,380 during the Asian trading session. The pair revisits its 11-month low as back-to-back interest rate hikes by the Bank of Korea (BoK) have strengthened the currency.

The United Kingdom Maritime Trade Operations (UKMTO) said on Thursday that an "unknown projectile" struck a tanker in the Strait of Hormuz, causing a fire that has since been put out, Reuters reported.

Bank of Japan (BoJ) Deputy Governor Ryozo Himino said on Thursday that central bank should persist in raising policy rate and adjust monetary support based on economic, price, and financial trends. 

Australia Private Capital Expenditure below forecasts (0%) in 2Q: Actual (-3.6%)

The Islamic Revolutionary Guard Corps (IRGC) stated that it reached a revenue-sharing agreement with Oman on the Strait of Hormuz, as Tehran and Washington’s standoff over control of the crucial waterway continues, Bloomberg reported on Wednesday.

Gold price (XAU/USD) falls to near $4,610 during the early Asian session on Thursday. The precious metal retreats from a three-month high as US inflation data came largely in line with expectations, increasing expectations of a Federal Reserve (Fed) interest-rate hike next month. 

Chris Turner at ING notes USD/CNH is consolidating after last week’s sharp decline, as investors hesitate to buy Renminbi with the PBoC slowing lower USD/CNY fixings and US–Iran sanctions risks in focus.

On Wednesday, the Bank of Mexico (Banxico) releases its Quarterly Report for Q2 2026, in which the institution revises its forecasts for economic growth and inflation.

Geoff Yu at BNY highlights that EM EMEA equities have outperformed, with strong buying in Poland, South Africa and Turkey since before the July Fed meeting, despite weaker regional currencies and bonds.

Commerzbank’s Dr. Henry Hao and Charlie Lay highlight that Taiwan’s booming AI-driven exports and strong external surplus create a fundamentally supportive backdrop for the Taiwan Dollar (TWD).

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann report USD/CNH slipped to 6.7166 and closed slightly lower, with short-term downside momentum gradually building.

Prashant Newnaha at TD Securities notes that the RBA’s August minutes were overall less hawkish than June, but still emphasized upside inflation risks and the possibility of preemptive tightening.

ABN AMRO’s Georgette Boele highlights that EUR/PLN has risen as interest rate expectations diverge between the Eurozone and Poland.

Commerzbank’s Dr. Henry Hao and Charlie Lay underscore that Taiwan’s industrial production and exports are surging on AI and high-performance computing demand. July manufacturing output and export orders point to Q3 GDP growth around 12–12.5% year-on-year, after 12.9% in Q2.