The euro steadied after gains driven by soft US labor data while the pound struggled amid limited domestic catalysts and cautious outlook from the Bank of England. The yen faced political turbulence in Japan and shifting central bank expectations, adding volatility. The Australian dollar found support in confidence data but remained tied to China’s slowing trade outlook. The Canadian dollar weakened with sharp job losses while policy uncertainty weighed. The Swiss franc retained safe-haven strength but eased slightly on improving market sentiment. Gold surged near record highs, supported by central bank buying and expectations of easier US policy, reinforcing its role as a hedge against uncertainty.
A busy macro week: Asia opens the week with national growth and trade data that can move commodity and regional FX flows; midweek brings China inflation and US wholesale (PPI) data; Thursday is the headline day with the US Consumer Price Index (CPI) and the European Central Bank policy decision and press conference — those two items are likely to set the near-term tone for G10 FX. India’s central settlement/forex markets will be closed on Monday in some regions, so expect local liquidity quirks at the start of the week.
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The euro faced pressure after weak retail sales fueled concerns about eurozone demand, while the pound gained support from better construction data but remained clouded by fiscal risks. The yen strengthened as investors looked to wage data for clues on Bank of Japan policy, with the dollar under pressure ahead of key labor reports. The Canadian dollar showed signs of recovery as market sentiment improved, though traders awaited employment figures for confirmation. The Swiss franc steadied as signs of stabilizing domestic demand suggested the central bank may pause its easing cycle. Gold held near record highs, supported by safe-haven demand and uncertainty over global trade and monetary policy.
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The euro held resilience despite mixed service data as investors eyed eurozone fiscal challenges and inflation pressures. The pound found support in upbeat services activity but faced pressure from surging bond yields and fiscal concerns. The yen weakened amid political uncertainty and cautious Bank of Japan signals, while New Zealand’s outlook remained fragile with weak growth prospects and expectations of further central bank easing. Gold extended record gains, fueled by safe-haven demand, expectations of rate cuts, and geopolitical tensions that kept investors seeking stability beyond traditional assets.
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The euro weakened as cautious remarks from policymakers highlighted growth concerns, while the pound faced pressure from strong US data expectations despite domestic political focus. The yen struggled as traders weighed US figures against prospects of Bank of Japan adjustments, leaving it vulnerable to dollar strength. The Canadian dollar softened after weak growth data fueled speculation of policy easing, though resilient domestic demand offered some balance. Gold surged toward record levels as safe haven demand strengthened, supported by bets on Federal Reserve rate cuts and lingering global uncertainty.
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The euro gained support from stronger manufacturing data, while the pound faced pressure from weak growth signals and fiscal concerns. The yen showed resilience amid shifting US policy expectations, while the Canadian dollar weakened after disappointing GDP results, fueling speculation of central bank easing. Gold extended its rally, benefiting from safe-haven demand and bets on lower US rates, keeping its bullish momentum intact despite market uncertainty.
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A busy, holiday-shortened week for markets: Asia and Europe host a string of final PMI prints and regional data early in the week, while the focus shifts to U.S. employment and other high-impact releases late in the week that could steer Fed expectations. Liquidity may be thinner around the U.S. Labor Day holiday, so headline surprises could create outsized moves in major FX pairs.
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The euro faces pressure from weak confidence data and French political risks, while the pound steadies on cautious demand outlooks. The yen trades in a wide range as traders await US growth signals. The Canadian dollar gains as tariff talks ease and markets prepare for domestic output figures. Gold holds firm near highs, supported by inflation concerns and political uncertainty surrounding the central bank, with investors watching upcoming data for further direction in safe-haven flows.
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The euro remains pressured by weak German sentiment and dovish ECB expectations, while the pound struggles under soft retail data and policy uncertainty. The yen is weighed down by a cautious Bank of Japan as the dollar stays resilient, with Fed signals closely watched. The Australian dollar reacts nervously to inflation surprises and RBA easing prospects, its direction still tied to US dollar swings. The Swiss franc draws safe-haven demand amid Fed tensions, though SNB intervention risks cap gains. Gold trades near highs, supported by political uncertainty and safe-haven flows, though correction risks remain.
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The euro stayed under pressure as dollar strength limited recovery despite support from German data, while the pound held steady after upbeat UK business activity. The yen gained slightly as investors watched U.S. sentiment and trade headlines, though policy uncertainty weighed on direction. The Australian dollar struggled amid concerns over tariffs and dovish central bank signals, with inflation data awaited for clarity. Gold held near recent highs as political tensions and expectations of central bank easing continued to support safe-haven demand.
