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Japan’s Katayama: Confirmed with Bessent that continued, coordinated action on FX is needed
Institutional, JPY
Japan’s Katayama: Confirmed with Bessent that continued, coordinated action on FX is needed
Japanese Finance Minister (FM) Satsuki Katayama said Tuesday that he confirmed with US Treasury Secretary Scott Bessent that continued, coordinated action on FX is needed. Additional quotes Shared understanding with Bessent on the significance of joint FX intervention. Can’t comment on FX rates when asked if current Yen rates are in order. Hard to say […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
NZD, Technical Analysis, USD
New Zealand Dollar remains subdued despite stronger Chinese PMI data
NZD/USD depreciates after posting minor gains in the previous day, trading around 0.5910 during the Asian hours on Tuesday. The pair loses ground as the New Zealand Dollar (NZD) holds losses after China’s RatingDog Manufacturing Purchasing Managers’ Index (PMI) climbed to 51.5 in August from 50.9 in July. The market forecast was 50.9. China and […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Metals
Gold Pressured by Fed Rate Hike Bets
Gold traded below $4,450 an ounce on Tuesday, hovering near two-week lows as rising oil prices and hawkish remarks from Federal Reserve Chair Kevin Warsh strengthened expectations for a US rate hike this month. Oil prices advanced for a second straight session after US forces struck an island in the Strait of Hormuz, while Iran […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Energies
Heating Oil Nears 5-Month High
US heating oil prices rose to around $4.45 per gallon, nearing a five-month high and leaving prices about 80% higher than a year earlier, as US distillate inventories remain well below seasonal norms. Distillate stocks fell by 2.2 million barrels to 103.4 million barrels in the week ending August 21, their lowest August level in […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Energies
Crude Oil Rallies on Fresh US-Iran Strikes
Crude oil rose more than 3% to above $86 a barrel on Monday as tensions in the Middle East escalated, with the US and Iran exchanging strikes for the first time in roughly a month and new concerns emerging over shipping through the Strait of Hormuz. US forces targeted Iranian rocket launchers that were reportedly […]
by Currency Hedger
- 0 Comments
- 3 weeks ago
Energies, Institutional, Technical Analysis
Chart of the Day: Middle East escalation boosts oil prices
Crude oil has once again become a hostage of geopolitics. Attacks in the Persian Gulf region and increasing restrictions on transit in the Strait of Hormuz have pushed demand fundamentals into the background. Although backwardation at the short end of the oil market curve is not as strong as it was 5 months ago, this […]
by Currency Hedger
- 0 Comments
- 3 weeks ago
BNY, Institutional
Euro: Inflation test for ECB hike odds – BNY
Geoff Yu at BNY argues that upcoming German CPI and Eurozone flash CPI are critical for European Central Bank expectations, with markets already pricing a near-certain September hike. While services inflation is softening and second-round wage effects remain unclear, stronger headline readings could reinforce hawkish ECB messaging and challenge Europe’s fragile cyclical recovery and activity […]
by Currency Hedger
- 0 Comments
- 3 weeks ago
ING
Gold: Fed hawkishness caps upside – ING
ING’s commodities team, led by Warren Patterson and Ewa Manthey, reports that Gold came under pressure after Federal Reserve Chair Kevin Warsh reinforced a higher-for-longer rates narrative, supporting the Dollar. They add that upcoming US inflation and labour data, central bank buying and geopolitics will shape Gold’s near-term performance, with upside seen as constrained by rate expectations. […]
by Currency Hedger
- 0 Comments
- 3 weeks ago
DBS, Institutional
US Dollar: Warsh speech supports greenback – DBS
DBS Group Research economist Philip Wee notes that the US Dollar (USD) recovered after Fed Chairman Kevin Warsh’s Jackson Hole speech, as futures pricing restored a meaningful probability of a September FOMC rate hike. Wee stresses that Warsh reaffirmed his inflation-first stance and avoided detailed forward guidance, leaving structural long-bond and de-dollarisation risks for the […]
by Currency Hedger
- 0 Comments
- 3 weeks ago
Metals
Steel Hits 2-½-Month Highs
Steel rebar futures jumped above CNY 3,140 per ton, reaching their highest levels since mid-June as investors anticipated a recovery in demand due to seasonal factors ahead of the September peak construction season. Construction activity in top consumer China typically picks up ahead of winter, strengthening the outlook for demand for steel and raw materials. […]
by Currency Hedger
- 0 Comments
- 3 weeks ago