The euro weakened as strong US data boosted the dollar and concerns over German borrowing weighed on sentiment. The pound slipped after the Bank of England held rates, with investors disappointed by the cautious stance. The yen saw limited gains after the Bank of Japan left policy unchanged, as inflationary pressures kept expectations of a shift alive. The New Zealand dollar tumbled following weak GDP data and rising bets on a rate cut by the RBNZ. Gold retreated from record highs as a stronger dollar and profit-taking set in, though broader demand remains supported by global risks.
The euro steadied as cautious signals from the European Central Bank clashed with expectations of softer US policy, keeping traders alert to Powell’s words. The pound held range-bound, with sentiment hinging on US projections and the Bank of England’s steady approach, while labor data showed slowing momentum. The yen strengthened slightly as weak Japanese trade data highlighted domestic challenges, but focus remains on Fed guidance that could sway dollar flows. Gold stayed resilient, supported by dollar softness and investor demand for stability as central banks weigh rate paths, leaving markets poised for volatility.
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The euro is holding firm as traders await the Fed meeting, with expectations of easing keeping demand supported, while the pound shows resilience despite weak local data. The yen stays under pressure as investors weigh political uncertainty in Japan against global risk appetite. The Australian dollar is swayed by soft Chinese figures but still finds strength from global sentiment. Oil prices remain volatile, pulled between supply risks from geopolitics and weaker demand signals from inventories and China’s slowdown. Gold continues to climb, supported by safe-haven demand and speculation of softer US monetary policy.
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This week: Expect a high-volatility week centered on major central bank meetings and key US data that could move FX pairs, rates and safe-haven flows. Watch the Federal Reserve’s policy decision and projections midweek, major central bank decisions later in the week, and cross-market reactions to retail sales, labor prints and inflation data.
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The euro remains pressured as traders await key US inflation data that could shift expectations for Federal Reserve policy, with weaker figures likely to offer relief for the currency. The pound is supported by political stability and firm expectations that the Bank of England will maintain its hawkish stance, contrasting with a softer outlook for the Fed. The yen holds steady as a safe-haven, with its direction closely tied to US inflation results and global risk sentiment. Meanwhile, gold benefits from softer producer prices, rising geopolitical tensions, and expectations of further US rate cuts, reinforcing its role as a preferred hedge against uncertainty in both economic and political spheres.
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The euro held firm despite political turmoil in France and mixed data from Italy, while the pound consolidated as markets await key U.S. inflation reports and Bank of England guidance. The yen remained steady, reflecting caution ahead of major U.S. releases, with Japan showing stronger business sentiment despite political uncertainty. The Australian dollar gained support from resilient domestic conditions and improving Chinese data, though inflation expectations and trade ties remain crucial. The Canadian dollar weakened under soft employment and sluggish growth, leaving it vulnerable to external pressures. Gold steadied as investors balanced inflation risks, central bank outlooks, and geopolitical tensions, keeping demand for safe havens intact.
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The euro is holding firm despite political risks, supported by stronger data from France, while traders await the ECB meeting. Sterling remains influenced by dollar direction and domestic fiscal challenges, with sentiment shaped by shifting Bank of England expectations. The yen is strengthening as speculation grows over Federal Reserve easing and uncertainty lingers in Japanese politics. The Australian dollar benefits from resilient growth and improving conditions, though consumer confidence has slipped, and markets watch the RBA closely. The Canadian dollar struggles under weak employment figures and looming rate cut expectations, though oil prices provide some relief. Gold continues to soar to record highs, fueled by safe-haven demand, speculation on U.S. rate cuts, and geopolitical concerns.
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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.
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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.
