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The US housing market at a turning point: Towards a new reality?
The US housing market is going through a critical phase, marked by falling demand, rising interest rates and lasting structural tensions. Long buoyed by a post-pandemic boom, the market is now facing an unprecedented combination of headwinds.
USD/JPY: Likely to trade in a range between 146.80 and 147.85 – UOB Group
US Dollar (USD) is likely to trade in a range between 146.80 and 147.85. In the longer run, outlook is mixed; USD could trade in a range between 146.40 and 148.40, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Pound Sterling corrects against USD, outlook remains firm on Powell's dovish remarks
The Pound Sterling (GBP) corrects to near 1.3480 against the US Dollar (USD) from its Friday's high of 1.3544 during the European trading session on Monday.
EUR soft despite fresh highs – Scotiabank
The Euro (EUR) is down a modest 0.3% as it fades a slight portion of Friday’s gains, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
NZD/USD has scope to test 0.5885 before levelling off – UOB Group
Rapid rise in New Zealand Dollar (NZD) has scope to test 0.5885 before levelling off becomes likely. In the longer run, NZD appears to have entered a range-trading phase; for the time being, it is likely to trade between 0.5820 and 0.5920, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
AUD/USD trades firmly near 0.6500 as Powell’s dovish remarks underpin riskier assets
The AUD/USD pair clings to gains near the key level of 0.6500 during the European trading session on Monday.
WTI Oil hit two-week highs above $64.00 on Fed cut's hopes,
Crude Oil prices are trading higher for the fourth day in a row on Monday, testing prices above $64.00 level for the first time over the last two weeks, as market expectations of lower interest rates in the United States have raised hopes of higher demand.
Pound Sterling Price News and Forecast: GBP/USD retreats but clings to bullish stance
Following a four-day decline, GBP/USD made a sharp U-turn on Friday and gained more than 0.8%.
CAD flat vs. the USD and gaining on crosses – Scotiabank
The Canadian Dollar (CAD) is entering Monday’s NA session unchanged vs. the USD as it consolidates Friday’s Jackson Hole-driven gains.
AUD/USD: Likely to trade in a range of 0.6460/0.6510 – UOB Group
AUD is likely to trade in a range of 0.6460/0.6510. In the longer run, slight increase in upward momentum is likely to lead to a higher range of 0.6440/0.6540 rather than a sustained advance, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Markets quiet following Powell’s dovish Jackson Hole speech Friday – Scotiabank
The US Dollar (USD) is entering Monday’s NA session with broad—albeit minor—gains as it tries to claw back a portion of Friday’s Jackson Hole-driven decline, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
GBP/USD: Likely to trade in a range of 1.3465/1.3545 – UOB Group
Pound Sterling (GBP) is likely to trade in a range of 1.3465/1.3545. In the longer run, further GBP strength is not ruled out, but it is unclear if there is enough momentum for it to reach 1.3595, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
EUR/USD: Likely to consolidate between 1.1665 and 1.1745 – UOB Group
Euro (EUR) is likely to consolidate between 1.1665 and 1.1745. In the longer run, increase in upward momentum is not enough to indicate a sustained rise; EUR must first close above 1.1745, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
European Gas gains on fading peace hopes and Norway risks – ING
Fading optimism over a Russia-Ukraine peace is providing support for European Gas prices, ING's commodity experts Ewa Manthey and Warren Patterson note.
EUR/GBP Price Forecast: In a near-term bullish bias towards 0.8680
The Euro bounced up from the bottom of the last six weeks' trading range near 0.8600 against the British Pound last week, and the pair remains biased higher on Monday, despite a slight daily pullback which, so far, remains contained above 0.8660
Gold Price Forecast: XAU/USD trades firmly around $3,370 as Fed’s Powell guides dovish outlook
Gold price (XAU/USD) holds onto gains near Friday’s high around $3,370.00 during the European trading session on Monday.
Fed Chair Powell pivots to cutting mode – ING
Chair Powell could have been super balanced, or even hawkish. But he effectively chose to endorse the market discount for a rate-cutting phase ahead. It's had quite the reaction. Risk assets are up, the dollar down, so's the front-end yield.
Gold jumps as Powell signals rate cuts – ING
Gold jumped last Friday after USD and bond yields fell moved my Federal Reserve Chair Jerome Powell's words about an interest rate cut in September, ING’s commodity analysts Warren Patterson and Ewa Manthey note.
NZD/USD: RBNZ’s dovish cut reinforces a downward bias for NZD – OCBC
New Zealand Dollar (NZD) bounced off its post-RBNZ lows, owing to a softer US Dollar (USD), but magnitude of strengthening was relatively weak. Pair last seen at 0.5855 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Oil: India’s secondary tariffs come into effect this week – ING
Oil prices managed to finish last week higher, settling up almost 2.9% higher as enthusiasm over a potential Russia-Ukraine ceasefire wanes. Uncertainty prevails as US President Trump once again threatens to impose tougher sanctions on Russia unless there’s a deal to end the war.
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