Thursday, 17 September 2026
Independent coverage of global markets, trade and finance
The international environment remains volatile, and the euro area – an open economy that is well integrated into global supply chains and international financial markets – could face strains ahead. While the acute risk …
The Federal Reserve (Fed) released its Beige Book on Wednesday, in which the US central bank stated that economic activity increased modestly since early July, while overall employment rose slightly. Regarding inflation…
Gold (XAU/USD) price rises over 1% on Wednesday as the Greenback softens amid speculation of an intervention to bolster the Japanese Yen (JPY), while US Treasury yields hold firm after weak US jobs data. At the time of …
Commerzbank highlights that South Korea’s export boom and a large trade surplus, combined with a hawkish Bank of Korea, are supportive for the Korean Won. They argue that changing FX flow dynamics should allow more of t…
US President Donald Trump said on Wednesday that the renewed campaign against Iran “won’t continue for too long," adding that he is prepared to launch another attack on Iran.
The US Dollar (USD) has traded in quite a volatile fashion on Wednesday, always amid the unabated tensions from the US-Iran crisis, speculation over another bout of FX intervention by Japanese authorities and bets for w…
West Texas Intermediate (WTI) Oil sees two-way price swings on Wednesday as escalating tensions in the Middle East keep energy markets volatile and the geopolitical risk premium elevated. At the time of writing, WTI tra…
MUFG’s Lloyd Chan remains cautious on the Indonesian Rupiah as domestic inflation accelerates and Gross Domestic Product (GDP) growth stays above 5%. The trade balance has improved slightly but remains weaker than 2025 …
Yen - Potential start of an Impulsive upwards moveIf the ¥ is going to go for an up move, it would be from this point (.0681 Fib of previous impulse). Would make sense with the rest of our analyses published earlier in …
TD Securities’ Ryan McKay and Bart Melek highlight that upcoming US Non-farm Payrolls (NFP) and a renewed hawkish Fed tone are critical for Gold, with prices near CTA (Commodity Trading Advisors) selling thresholds arou…
The trigger is clear, even if the consequences are not fully priced in yet. Crude oil has surged more than 50% since the war erupted, with Brent now above $109 a barrel as the Strait of Hormuz remains largely closed to …
USD/CAD falls to around 1.3875 on Wednesday, down 0.15% on the day, following the Bank of Canada’s (BoC) monetary policy decision. The Canadian Dollar (CAD) strengthens against the US Dollar (USD) after the central bank…
Brown Brothers Harriman’s (BBH) Elias Haddad observes USD/JPY testing 160.00 as hawkish Bank of Japan comments briefly supported the Japanese Yen (JPY). Haddad notes Takata’s openness to a 50–75 bps move and back-to-bac…
Gold (XAU/USD) stages a sharp rebound on Wednesday, reversing all its earlier losses as a sudden rise in the Japanese Yen (JPY) triggers broad selling pressure on the US Dollar (USD). A pullback in US Treasury yields pr…
According to MUFG’s Lee Hardman, rising energy prices are pushing market expectations for further Federal Reserve tightening, with 17bps priced for the 16th September FOMC and the 2-year US Treasury yield at a year-to-d…
The Japanese Yen (JPY) outperforms its major peers on Wednesday, with USD/JPY falling nearly 0.90% on the day as hawkish Bank of Japan (BoJ) expectations support the Japanese currency. A sharp drop during American tradi…
Societe Generale’s Kunal Kundu now expects the RBI to deliver three 25bp rate hikes, taking the repo rate from 5.25% to 6.00% by early 2027, versus two hikes previously. The revision follows much stronger-than-expected …
Governor Tiff Macklem took questions from reporters, offering markets a clearer sense of how the central bank was thinking. His remarks followed the widely expected decision to keep the policy rate on hold at 2.25%.
BNY’s Geoff Yu says JPY selling has largely run its course, while USD/JPY’s return toward 160 keeps intervention risk firmly in focus. The bank notes that positioning has not yet turned decisively long JPY, but sees sco…
The Indian Rupee (INR) opens flat at around 94.90 against the US Dollar (USD) on Wednesday, but is close to its two-month low of 94.80 posted the previous day. The Indian currency is expected to face selling pressure ag…
Markets adopt a cautious stance midweek as the crisis in the Middle East deepens. In the second half of the day, private sector employment data from the United States (US) will be watched closely by investors. Additiona…
The US dollar initially rallied from 97.9 in late-December to 99.4 mid-January. However, it then lost its way, falling back to a near 4-year low of 96.2, now 97.0. At the current level, the US dollar is around 15% below…
The Euro (EUR) is sharply down at around 184.66 against the Japanese Yen (JPY) during the European trading session on Wednesday. The cross faces intense selling pressure as the Japanese currency outperforms on fresh exp…
UOB’s Quek Ser Leang and Lee Sue Ann report AUD/USD volatility picked up as the pair spiked to 0.7181 before sliding to 0.7139, with intraday momentum now skewed lower but seen insufficient to reach 0.7120. Over one to …