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German IFO Business Climate Index undermines expectations with 88.6 in July.EUR/USD holds minor bids near 1.1700 after German sentiment data. The headline German IFO Business Climate Index rose to 88.6 in July from 88.4 in June. The data came in below the market consensus of 89. Meanwhile, the Curre

Strong momentum suggests further US Dollar (USD) weakness against Japanese Yuan (CNH), but any decline might not be able to break the major support at 145.75. In the longer run, rapid increase in momentum indicates USD could weaken to 145.75, UOB Group's FX analysts Quek Ser Leang and Peter Chia not

Things got really exciting again yesterday afternoon. First, a major US media outlet reported that Donald Trump had told Republican lawmakers that he was going to fire Federal Reserve Chairman Jerome Powell. Soon afterwards, Bloomberg quoted an unnamed White House official as saying that the dismiss

USD/JPY continued to trade higher, driven by higher UST yields (due to US CPI report) and Upper House election uncertainty. USD/JPY was last at 148.68 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note. Election results may impact fiscal health and ratings "Recent poll by Nikkei, Ky

Tariffs, tariffs, and more tariffs For as long as I can remember, tariffs have been a large share of my daily posts! Well, US President Donald Trump has been busy, announcing fresh tariff threats against the European Union (EU) of 30%. The EU are reportedly gearing up to impose countermeasures, and,

News from the weekend that the US could impose 30% import tariffs on the EU and Mexico hasn't moved markets too much. Equity futures in the US and Germany have been marked down 0.4% and 0.6% respectively, while the dollar is marginally stronger. The moves have not been larger since investors see the

The US Dollar maintains its bullish trend intact, but price action has stalled below 147.50.Investors might be starting to worry about the impact of Trump's tariffs on US economy.Later this week, US and Japan's inflation readings are likely to set the pair's near-term direction. The US Dollar is tri

NZD/USD drifts lower to around 0.6015 in Friday’s early Asian session.US Initial Jobless Claims unexpectedly fell to a seven-week low last week. An aggressive tariff policy and ongoing trade jitters undermine the New Zealand Dollar. The NZD/USD pair loses ground to near 0.6015, snapping the three-da

AUD/JPY has rebounded toward the five-month high at $96.21, which was reached on Wednesday.The AUD receives support since the RBA surprisingly decided to maintain cash rates, against an expected 25 basis point cut.The Japanese Yen faces challenges as escalating trade tensions prompt the BoJ to hold

In its quarterly regional economic report published on Thursday, the Bank of Japan (BoJ) is expected to reflect uncertainty over how US tariffs will affect local businesses. Additional takeaways As for impact of trade policies of each countries, some regions said firms were putting off or reviewing

Notes/observations - EU major bourses and US futures are mixed. Tariff developments seem to have lost shock factor. Market is unable to shake underpinnings of uncertainty, but weight of Trump actions has faded due to similar and frequent threat rhetoric. - US tariff deadline was extended 3 weeks to

EURJPY confirms bullish continuation to one-year high. Upward move looks overdone, pullback likely. Sellers may be waiting below 170.15. EURJPY has shown remarkable performance since pivoting near the 164.90 level in mid-June, gaining almost 4% to reach a new one-year high of 171.79 on Tuesday, as t

Japan's top trade negotiator Ryosei Akazawa said on Wednesday that “any agreement that would hurt our national interests for the sake of timing should not be made.” Additional comments There is possibility of travelling to the US but no specific schedule is decided yet. Japan and US are continuing v

Turks are holding billions of dollars in gold “under their pillows.” The Turkish central bank estimates that Turkish households have more $311 billion worth of unregistered gold, most of it outside of the official financial system. The central bank calculated this amount by adding the current quarte