Author: admin

BNY’s Geoff Yu notes that Eurozone assets remain supported by steady composite PMI readings and improving signs in German demand, while speculation over ECB leadership succession grows. He highlights Friedrich Merz’s upcoming meeting with ECB officials and questions surrounding Christine Lagarde’s tenure and a possible German candidate for the presidency.Leadership questions meet steady PMIs”German Chancellor Friedrich Merz will meet ECB officials next week ahead of the bank’s rate decision, with markets expecting a 25bp hike to 2.50%. The meeting gives Merz an opportunity to discuss Germany’s improving economic outlook, but it also comes amid growing speculation over the ECB’s leadership…

Here is what you need to know on Thursday, September 3:The Japanese Yen (JPY) continues to gather strength against its major rivals in the European session on Thursday, building on Wednesday’s impressive rally. In the second half of the day, the US economic calendar will feature weekly Initial Jobless Claims data and the Institute for Supply Management’s (ISM) Services Purchasing Managers’ Index (PMI) report for August. Japanese Yen Price This week The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies this week. Japanese Yen was the strongest against the New Zealand Dollar. USDEURGBPJPYCADAUDNZDCHFUSD-0.17%0.25%-1.99%-0.67%-0.28%1.02%0.12%EUR0.17%0.43%-1.80%-0.52%-0.12%1.14%0.30%GBP-0.25%-0.43%-2.31%-0.94%-0.54%0.71%-0.21%JPY1.99%1.80%2.31%1.24%1.71%2.93%2.02%CAD0.67%0.52%0.94%-1.24%0.40%1.68%0.74%AUD0.28%0.12%0.54%-1.71%-0.40%1.26%0.34%NZD-1.02%-1.14%-0.71%-2.93%-1.68%-1.26%-0.91%CHF-0.12%-0.30%0.21%-2.02%-0.74%-0.34%0.91% The…

The rupee opened 67 paise stronger at 94.30 per US Dollar on the back of a whopping $127.226 billion flowing into Foreign Currency Non-Resident (Bank) deposits under the RBI’s concessional swap facility, which was open from June 8 to August 31.The Indian currency is currently trading at 94.39 per USD. Intraday, it tested a high/ low of 94.26/94.4350 so far.Madhavi Arora, Chief Economist, Emkay Global Financial Services, observed that the higher-than-expected FCNR++ (including ECBs and OFCBs) mobilisation of $137 billion likely explains why the RBI chose to close the concessional swap facility early (August 31 against the earlier plan of…

EUR/JPY extends its losses for the second successive day, trading around 183.00 during the Asian hours on Thursday. Technical analysis of the daily chart indicates the currency cross remains within a symmetrical triangle, signalling a consolidation phase.However, the EUR/JPY cross is retaining a bearish near-term bias as it holds beneath both the nine-period and 50-period Exponential Moving Averages (EMAs). The short- and medium-term EMAs now cap the topside and suggest that rallies are likely to be sold, while the 14-day Relative Strength Index (RSI) at 37.31 is edging toward oversold territory, hinting that downside momentum is slowing rather than reversing.The…

The Indian rupee is set to add to its ​recent rally on Thursday after ​a massive $127 billion mobilisation through foreign-currency non-resident bank deposits far ​exceeded market expectations, bolstering the central bank’s capacity to support the currency.The rupee is expected to open in the 94.30 to 94.35 range against the U.S. dollar, per traders, ‌having settled ⁠at 94.97 ⁠on Wednesday.India attracted a much larger-than-expected $136.38 billion through special foreign-currency mobilisation schemes, the Reserve Bank ​of India said on Wednesday, swelling India’s FX reserves and providing RBI more scope ​to contain pressure on the rupee.The bulk of the haul came from…

US President Donald Trump said that while the US is prepared to strike Iran again at any time, he doesn’t expect the renewed fighting to last “too long,” Reuters reported on Wednesday.Iran’s Supreme Leader Mojtaba Khamenei said that Iran’s armed forces have “unforgettable lessons” in store for the US in his first message since fighting resumed after a month of relative calm.Meanwhile, Supreme National Security Council Secretary Mohsen Rezaei said Washington will soon witness Tehran’s “new strategy” for war.Market reactionAt the time of writing, the West Texas Intermediate (WTI) is down 0.04% on the day at $91.12. WTI Oil FAQs…

Economists initially anticipated around $80-100 billion, but banks accelerated their efforts, particularly in the final days. Attractive interest rates and leverage incentives helped banks mobilise a staggering $127.226 billion in fresh Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits under the Reserve Bank of India’s concessional swap facility, which was open from June 8 to August 31.“It’s come as a surprise, as the expectation was that about $80-100 billion would come in,” said Madan Sabnavis, Chief Economist, Bank of Baroda. During the 85-day period, banks raised $65.397 billion between June 8 and August 21, they accelerated efforts in the final 10 days,…

The Dow Jones Industrial Average trades near 53,000 and roughly 250 points higher, having opened just above 52,750, dipped to a session low beneath the rising 50-day Exponential Moving Average (EMA) near 52,700, and recovered the whole of that ground. The rebound attempt arrives after three consecutive lower sessions and is worth about half a percent. What it is not is an equity event, because nothing in the case for owning these thirty companies changed between Tuesday and this morning.The bid was placed in the bond marketThe benchmark 10-year Treasury note yield touched 4.818% during the session, a level last…

In an interview with CNBC on Wednesday, New York Federal Reserve (Fed) Bank President John Williams said that tariffs and the Middle East war are big drivers of inflation over target, per Reuters.Williams flags strong economy-driven yields as Fed stays focused on 2% inflation goal Fed’s Williams delivered a slightly more hawkish-than-usual tone, with a 6/10 FXS Speechtracker score marginally above the 5.9/10 historical average, emphasizing that rising yields reflect a strong economy and robust outlook rather than an unanchored inflation profile. By stressing that yields are being pushed up by strong investment demand and geopolitical factors such as tariffs…

Dow Jones futures inch higher by 0.05% to trade near 52,850 during European hours on Wednesday. Meanwhile, S&P 500 futures decline by 0.4%, to trade around 7,640, while Nasdaq 100 futures lose 0.19% to trade around 29,070.US stock futures posted mixed results as traders adopted a cautious stance amid a global bond selloff. The benchmark 10-year US Treasury yield surged to 4.80%, reaching its highest level since early 2025.Fed pricing edges higher as energy costs climbAnalysts at MUFG/BTMU highlight that markets are now assigning a modestly higher probability to further tightening, noting that “there are now 17bps of Fed hikes…