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The Canadian Dollar caught an early decline on Friday, but Greenback declines are squaring Loonie positioning.Canada shed jobs in July after the pace of hiring declined faster than expected.Coming up next week: US CPI inflation figures to dominate market sentiment early.The Canadian Dollar (CAD) stumbled on Friday, falling against the US Dollar (USD) before broad-market Greenback sentiment overtook Loonie positioning to chip away at the USD’s late-week strength. Canadian jobs data came in far below expectations, kicking the legs out from beneath Loonie bulls before general market sentiment continued forcing the US Dollar lower and giving the CAD a mulligan…

USD/CHF trades below 0.8100, stuck in a narrow range amid cautious sentiment.Risk-on mood driven by strong global equities dampens safe-haven demand for CHF.US imposes new import tariffs on 1kg and 100oz Swiss Gold bars, rattling bullion markets.The Swiss Franc (CHF) remains subdued against the US Dollar (USD) on Friday, with USD/CHF hovering in a familiar range established this week, as traders weigh the latest US tariff decision targeting Swiss Gold exports and its potential fallout on Switzerland’s economy and trade relations.At the time of writing, the pair is trading around 0.8080, struggling to break out decisively in either direction amid…

Gold spot steady at $3,397, while Comex futures hit all-time high on US import tariffs.The Financial Times reports US imposed duties on one-kilo Gold bars, citing Customs & Border Protection letter.Markets price in 25 bps Fed cut in September after weak NFP and soft ISM Services PMI employment data.Upcoming US data: CPI, PPI, Retail Sales, Jobless Claims, UoM Sentiment, and multiple Fed speakers.Gold Price steadies in the spot markets, yet the futures reached a record high of $3,534 on reports that the United States (US) will apply tariffs on imports of Gold bars. Besides this, market players continued to digest…

Gold edges lower after hitting a two-week high of $3,409 on Friday.Gold futures soar to record highs after US imposes tariffs on 1-kg and 100-oz Gold bars.Technicals show Gold struggling below $3,400 but holding above key moving averages.Gold (XAU/USD) is trading slightly lower on Friday after peaking at $3,409 earlier in the day, its highest level in two weeks amid a cautious market mood. At the time of writing, the metal is hovering near $3,400 during the American trading session and is on track to post modest weekly gains of around 1%.The precious metal remains underpinned by concerns over the…

GBP/USD trades flat at 1.3437 as Dollar recovers modestly.BoE cuts rates 25 bps in a 5–4 split, signaling a cautious approach; markets see 87% chance of no change in September.Trump administration rumored to favor Fed Governor Christopher Waller to replace Powell in 2026.St. Louis Fed’s Musalem says inflation remains off-target, but job market risks tilt lower.The GBP/USD remains steady during the North American session as the Greenback recovers some ground, even though traders seem convinced that the Bank of England’s (BoE) rate cut on Thursday may be the last during the year. At the time of writing, the pair trades…

EUR/GBP rebounds from a one-week low of 0.8653, trading around 0.8670 on Friday.The BoE cut rates by 25 bps to 4.00% on Thursday in a tight 5–4 vote, signaling a cautious easing path.Chief Economist Huw Pill, who dissented, warned that the current pace of cuts may not be sustainable due to rising inflation risks.The EUR/GBP cross is showing signs of stabilization on Friday, following a slide to a one‑week low of 0.8653 earlier in the day. At the time of writing, the cross is hovering around 0.8672 during American trading hours, as traders digest the aftermath of Thursday’s Bank of…

St. Louis Federal Reserve President Alberto Musalem said on Friday that the US economic activity remains stable, per Reuters.Key takeaways”Bankers report that funding pressures have diminished, credit quality is good.””Companies continue to report a shortage of skilled labor.””Firms remain cautious on capital spending and hiring.””Companies are using different strategies to adapt to tariffs, including cost-cutting and negotiating with suppliers.””Companies are not yet resorting to layoffs to reduce costs.””Companies that are most dependent on imports are passing along costs; those closer to consumers are less likely to raise prices so far.””The Fed is now missing on its inflation target but not…

The latest trade data from China were more or less neutral for the Copper price, Commerzbank’s Head of FX and Commodity Research Thu Lan Nguyen notes. China Copper imports rise despite tariff threats”Both imports of unwrought Copper and imports of Copper ores increased in July compared to the previous month. This indicates robust demand as well as consistently high metal production, both of which are surprising. One might have expected that the recent threat of US tariffs on unprocessed Copper would have led to more of these flowing to the US in advance.” “However, the tariffs did not materialize, or…

Data from Bloomberg suggests that US President Trump’s threat of punitive tariffs against India has apparently already had an effect, Commerzbank’s commodity analyst Carsten Fritsch notes. China’s crude oil imports remain high”According to the data, Russia’s seaborne oil shipments to India fell to just 460,000 barrels per day last week. This was the third significant weekly decline in a row and the lowest level since April 2022. Until mid-July, the four-week average of Russian oil deliveries to India was still around 1.6 million barrels per day.” “According to people familiar with the matter, state-owned refineries are to stop buying Russian…

Saudi Arabia has raised its official selling prices for oil deliveries to Asia in September, Commerzbank’s commodity analyst Carsten Fritsch notes. Buyers of Russian oil likely to look for other major suppliers”The price premium for Arab Light compared to the Oman/Dubai benchmark will increase by $1 to a five-month high of $3.2 per barrel. The increase was in line with expectations. Despite rising supply, Saudi Arabia appears to be finding sufficient buyers for its oil.” “Given the pressure from the US on buyers of Russian oil, these are likely to look for oil from other major suppliers, including Saudi Arabia.…