| EUR/USD | USD/JPY | GBP/USD | EUR/JPY | EUR/GBP | AUD/USD | USD/CAD |
| OPEN | 1.1047 | 141.02 | 1.3107 | 155.82 | 0.8428 | 0.6654 | 1.3596
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| HIGH |
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| LOW |
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| CLOSE | 1.1018 | 142.71 | 1.3057
| 157.25 | 0.8439 | 0.6648 | 1.3605 |
BBC News report Kamala Harris and Donald Trump accused each other of being weak and lying in their first debate of the 2024 US presidential election.
Trump was viewed as defensive over abortion and foreign policy, while Harris pushed her plans to tackle high prices and economic issues. Both campaigns said they want another debate. Donations to Democrats reportedly surged after the event; Harris gained the endorsement of Taylor Swift after and a CNN poll showed 63% of viewers believed Harris won.
However, the night's major impacter was BOJ's Nakagawa who said real rates are at a very low level and the Bank will continue to adjust policy going forward provided the economy performs in line with its projections.
USD/YEN lost around 200 points overnight, in large part to Nakagawa's comments, with the USD largely a little softer elsewhere.
To the next big USD event risk and US CPI for August, coming in the second half of the session.
CPI is forecast at 0.2% m/m and 2.5% y/y in August vs 0.2% and 2.9% results the month previous, with the core seen unchanged at 3.2% y/y.
If those numbers pan out, the numbers would be indicative of a fourth straight CPI being roughly consistent with the Fed’s 2% inflation target in PCE terms. We are led to believe by the Fed that the bigger watch right now is the employment side, but we suspect lawmakers must be satisfied with continued progress on prices.
Beforehand, we get a barrage of UK data at the top of the hour.
Monthly GDP for July is expected at 0.2% m/m vs 0.0% last and a fifth positive number in the seven months of 2024 so far. However, a moderate cooling is expected through H2. Also scheduled is IP/MP (both expected positive m/m) and trade (deficit expected to fall in July).
After Close, Riksbank's Breman is due to speak on the Swedish economy.
Overnight, RBA's Assistant Governor Sarah Hunter said. the board has been surprised by the 'limited' easing this year in some key employment indicators.
Elsewhere, all US stock futures stand materially in the red, led by the -0.7% NASDAQ.
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European FX Open - Nakagawa positive Yen comments overshadow presidential debate
BBC News report Kamala Harris and Donald Trump accused each other of being weak and lying in their first debate of the 2024 US presidential election.
Trump was viewed as defensive over abortion and foreign policy, while Harris pushed her plans to tackle high prices and economic issues. Both campaigns said they want another debate. Donations to Democrats reportedly surged after the event; Harris gained the endorsement of Taylor Swift after and a CNN poll showed 63% of viewers believed Harris won.
However, the night's major impacter was BOJ's Nakagawa who said real rates are at a very low level and the Bank will continue to adjust policy going forward provided the economy performs in line with its projections.
USD/YEN lost around 200 points overnight, in large part to Nakagawa's comments, with the USD largely a little softer elsewhere.
To the next big USD event risk and US CPI for August, coming in the second half of the session.
CPI is forecast at 0.2% m/m and 2.5% y/y in August vs 0.2% and 2.9% results the month previous, with the core seen unchanged at 3.2% y/y.
If those numbers pan out, the numbers would be indicative of a fourth straight CPI being roughly consistent with the Fed’s 2% inflation target in PCE terms. We are led to believe by the Fed that the bigger watch right now is the employment side, but we suspect lawmakers must be satisfied with continued progress on prices.
Beforehand, we get a barrage of UK data at the top of the hour.
Monthly GDP for July is expected at 0.2% m/m vs 0.0% last and a fifth positive number in the seven months of 2024 so far. However, a moderate cooling is expected through H2. Also scheduled is IP/MP (both expected positive m/m) and trade (deficit expected to fall in July).
After Close, Riksbank's Breman is due to speak on the Swedish economy.
Overnight, RBA's Assistant Governor Sarah Hunter said. the board has been surprised by the 'limited' easing this year in some key employment indicators.
Elsewhere, all US stock futures stand materially in the red, led by the -0.7% NASDAQ.
---- Subscribe to read more ----
To receive this analysis plus much more, subscribe to IGM. Request your free trial of the service today.