Rabobank's Senior FX Strategist Jane Foley says speculation over a structural shift in Japanese Yen (JPY) valuation is challenging traditional carry trade assumptions and Japanese investors’ appetite for foreign assets.

TD Securities’ Molly Brooks analyzes how US rates markets are pricing the September Federal Reserve meeting, highlighting unusually high uncertainty around a potential hold or 25bp hike.

Nomura strategists expect the European Central Bank (ECB) to raise rates this week, taking the depo rate to 2.50%, and to keep it there for the foreseeable future.

Commerzbank’s Tatha Ghose expects Poland’s NBP to leave rates unchanged at 3.75% and sees the key question as whether the MPC formally drops earlier dovish language.

TradingKey - O Departamento de Estatísticas do Trabalho dos EUA divulgará o Índice de Preços ao Produtor (PPI) de agosto às 8h30 ET do dia 10 de setembro. Em um cenário em que o payroll de agosto nos

Deutsche Bank strategists note a broad-based decline in US equities, with the S&P 500 down 0.58% and more than 70% of its constituents lower.

USD/IDR extends its losses for the second successive day, trading around 17,570 during the early European hours on Wednesday.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is losing ground for the third consecutive day and trading around 98.80 during Asian hours on Wednesday.

AUD/JPY pares its daily losses following the release of key economic data from China, Australia's primary trading partner. However, the currency cross remains in negative territory and is trading around 111.00 during Asian hours on Wednesday.

China’s Consumer Price Index (CPI) climbed 0.8% in August from a year ago after arriving at a rise of 0.5% in Juuly, the National Bureau of Statistics of China reported on Wednesday. The market consensus was for 0.8% in the reported period.

China Consumer Price Index (MoM) registered at 0.4% above expectations (0.3%) in August

US President Donald Trump is banning Canadian products, including alcohol, dairy and motor vehicles, as Canadian retaliatory tariffs on American goods come into force, BBC reported on Tuesday.

West Texas Intermediate (WTI) oil price extends its gains for the third successive day, trading around $92.30 during the Asian hours on Wednesday. Crude oil prices rise as the US struck several Iranian tankers near Kharg Island, a major crude export hub.

OCBC’s Christopher Wong reports USD/CNH briefly fell to its lowest level since February 2023 before rebounding after the PBoC set a higher-than-expected daily fix.

TD Securities economists Oscar Munoz, Eli Nir, Gennadiy Goldberg and Molly Brooks expect August Core CPI to rise 0.19% m/m, with services driving gains and core goods offsetting. They project Core CPI at 2.3% y/y and Headline CPI steady at 3.4% y/y.

United States Consumer Credit Change registered at $18.06B above expectations ($11.7B) in July

Scotiabank strategists Shaun Osborne and Eric Theoret note that the Japanese Yen (JPY) is modestly firmer, with USD/JPY extending losses through prior intervention lows near 155, a move seen as technically significant and potentially pointing to further Yen gains.

Argentina Industrial Output n.s.a (YoY): -4.9% (July) vs previous 2%

Deutsche Bank’s UK Chart Of The Week, authored by Sanjay Raja, Shreyas Gopal and Maui Brennan, argues that UK fiscal consolidation since the 2024 election is primarily tax-driven and heavily backloaded.

Scotiabank strategists Shaun Osborne and Eric Theoret highlight a mixed US Dollar (USD) as markets weigh rising Oil prices, Japanese Yen (JPY) strength, and escalating US trade tensions.

United States 3-Year Note Auction climbed from previous 4.291% to 4.474%

The New York Fed revealed the August Survey of Consumer Expectations in which households' inflation expectations dipped in the medium-term, while expectations about the labor market remained mixed, as unemployment and job finding deteriorated, while job losses and quit expectations improved.

TD Securities notes that the Colombian Peso (COP) has been a top high-yield performer but sees its supportive mix of tight monetary and loose fiscal policy fading.

Bank of England (BoE) Governor Andrew Bailey said on Tuesday that he does not think the United Kingdom (UK) economy is on the verge of a recession, with the latest data showing slightly stronger activity, according to Reuters.

BNY Markets strategist John Velis says a strong United States (US) jobs report has pushed expectations for a September Federal Reserve (Fed) rate hike back above 60%, despite Governor Christopher Waller’s more cautious comments.

Deutsche Bank’s Mark Wall and Michael Kirker report that survey respondents expect the European Central Bank (ECB) to continue hiking, with a strong bias toward another move in September and a terminal rate between 2.50% and 3.00%.

Brown Brothers Harriman’s (BBH) Elias Haddad notes that Brent Oil’s surge toward $100 is pressuring stocks and bonds while giving the Dollar a modest lift. However, he stresses that Friday’s US August Consumer Price Index (CPI) will be decisive for the Federal Reserve’s September 16 meeting.

Rabobank's Senior FX Strategist Jane Foley discusses how United Kingdom (UK) Chancellor Healey’s pro-growth rhetoric and commitment to fiscal rules have left questions over funding, with EUR/GBP still range-bound.

ING’s Francesco Pesole notes that stronger second-quarter Eurozone growth and resilience to geopolitical and commodity shocks have kept the Euro (EUR) relatively expensive.

ING strategist Francesco Pesole reports that Sterling gained modestly, helped by Chancellor John Healey’s first major speech stressing fiscal discipline and keeping long-end gilt moves aligned with global bond selling.