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Chinese Yuan: Undervaluation and export gains questioned – Commerzbank
CommerzBank, Institutional
Chinese Yuan: Undervaluation and export gains questioned – Commerzbank
Commerzbank’s Volkmar Baur challenges recent internal analysis on CNY undervaluation and exports, arguing that China’s exchange-rate management and gold purchases point to deliberate weakening. He highlights China’s outsized export and trade-surplus gains since 2019 and notes that a roughly 20% real exchange-rate advantage is unlikely to be neutral for global trade flows. Exchange-rate policy and export dominance […]
by Currency Hedger
- 0 Comments
- 3 weeks ago
DBS, Institutional
South Korean Won: Strong exports support KRW and KOSPI – DBS
DBS Group strategists Taimur Baig and Nathan Chow expect South Korea’s August exports to stay strong near 60% year-on-year, underpinning the outlook for the KOSPI and Korean Won (KRW) even as growth moderates from June’s peak. They also see headline and core CPI around 3%, reinforcing its view that further Bank of Korea (BoK) rate hikes are […]
by Currency Hedger
- 0 Comments
- 3 weeks ago
Energies
Heating Oil Market Tightens as US Inventories Hit Record Low
US heating oil prices remained around $4.25–$4.50 a gallon, more than 80% higher than a year ago, as supplies fell to their lowest seasonal level on record. US distillate inventories, which include diesel and heating oil, fell to 103.4 million barrels in the week ending August 21, the lowest level recorded for this time of […]
by Currency Hedger
- 0 Comments
- 3 weeks ago
Institutional, Market Analysis
Week Ahead – Aug 31st
Global markets are underpinned by long-term interest rates, which remained elevated at the turn of September amid high energy prices, ample AI-related corporate debt issuance, and wide budget deficits against signs of resilient economic growth. Economic data from the US will be centered on the labor market as FOMC members note the US is at […]
by Currency Hedger
- 0 Comments
- 3 weeks ago
CAD, USD
Loonie Slips Despite Strong Canadian GDP
The Canadian dollar weakened to 1.39 per USD from a three-month high of 1.376 reached on August 21st, as a more restrictive policy signal from Fed Chair Warsh supported the US dollar. Warsh said the Fed is tracking the PCE index as an inflation gauge, using firmer rhetoric than earlier suggestions that a newly created […]
by Currency Hedger
- 0 Comments
- 3 weeks ago
Currency Talk, USD
Brazilian Real Weakens as Fed Hike Bets Rise
The Brazilian real weakened to around 5.205 per USD, nearing the one-month low of 5.21 touched on August 14, as a more restrictive policy signal from Fed Chair Warsh supported the US dollar. Warsh said the Fed is tracking the PCE index as its inflation gauge, using firmer rhetoric than earlier suggestions that a newly […]
by Currency Hedger
- 0 Comments
- 3 weeks ago
Currency Talk, MXN, USD
Mexican Peso Weakens as Fed Hike Bets Rise
The Mexican peso weakened to around 17.04 per US dollar from the more than two-year low of 16.91 touched on August 21, as a more restrictive policy signal from Fed Chair Warsh supported the US dollar. Warsh said the Fed is tracking the PCE index as its inflation gauge, using firmer rhetoric than earlier suggestions […]
by Currency Hedger
- 0 Comments
- 3 weeks ago
Metals
Hawkish Fed Chair Warsh Boosts the Dollar and Sinks Gold
The dollar index (DXY00) rallied to a 2-week high on Friday and finished up by +0.61%. The dollar jumped on Friday on hawkish comments from Fed Chair Warsh, who warned inflation isn’t meaningfully slowing and vowed that policymakers will return inflation to their 2% target. The chance of a Fed rate hike at next month’s […]
by Currency Hedger
- 0 Comments
- 3 weeks ago
Energies
Nat-Gas Prices Fall Ahead of Opening of Texas Pipeline
October Nymex natural gas (NGV26) on Friday closed down -0.026 (-0.89%). Nat-gas prices settled lower on Friday ahead of Energy Transfer LP’s scheduled start date next week for its Hugh Brinson pipeline in Texas. The pipeline, scheduled to begin service on September 1, will be able to move about 2.2 bcf/day of gas from the […]
by Currency Hedger
- 0 Comments
- 3 weeks ago
Energies
Dollar Strength and Increased Middle East Oil Flows Weigh on Crude Prices
October WTI crude oil (CLV26) closed down -0.13 (-0.16%) on Friday, and October RBOB gasoline (RBV26) closed up +0.0598 (+2.00%). Crude oil and gasoline prices settled mixed on Friday. Crude prices posted modest losses on Friday after the dollar index ($DXY) rallied to a 2-week high. Also, signs of larger crude supplies transiting through the […]
by Currency Hedger
- 0 Comments
- 3 weeks ago