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Editors’ Picks
USD/JPY gains traction above 148.00 as Japan’s PM Ishiba to step down
The USD/JPY pair gains momentum to around 148.30 during the early Asian session on Monday. The Japanese Yen weakens against the US Dollar after Japan’s Prime Minister Shigeru Ishiba’s resignation raised worries over political uncertainty in Japan. Japan’s Gross Domestic Product for the second quarter will be released later on Monday.
AUD/USD consolidates around mid-0.6500s as risk-on mood offsets USD strength
AUD/USD kicks off the new week on a flattish note and oscillates in a narrow range around mid-0.6500s amid mixed cues. The US Dollar moves away from an over one-month low, touched in reaction to the dismal US NFP report on Friday, and caps the currency pair. That said, rising Fed rate cut bets limit the USD upside, which, along with the risk-on mood, acts as a tailwind for the Aussie.
Gold: Bullish breakout leads to new record-high
Gold broke out of its four-month-old trading range and rallied to a new record-high near $3,600, fuelled by safe-haven flows and renewed US Dollar weakness. As the Federal Reserve enters the blackout period ahead of the September policy meeting, August inflation data from the United States could be the next significant catalyst for XAU/USD.
Week ahead: US CPI and ECB meeting to test market nerves
US CPI and PPI data to take centre stage ahead of Fed decision. ECB to likely hold rates, might signal long pause. OPEC decision and Chinese data to shape sentiment at start of week. Bond markets on alert for Treasury auctions and French budget vote.
All eyes on NFP report as Fed rate cut bets intensify
Will August jobs report shock again? It’s almost one month ago that the July payrolls numbers generated not just considerable volatility in the markets but also a lot of controversy, as it offended President Trump’s record on the economy.
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