The US dollar strengthened against the euro, sterling and yen ahead of Kevin Warsh’s Jackson Hole speech on August 28. The Australian dollar outperformed its major peers, while oil slipped as traders weighed Washington’s shift towards economic pressure on Iran.
By Sagar Dua USD/CHF is trading just above key support at 0.8036, with markets eyeing a potential breakdown. Swiss macro data came in weak: July producer prices fell –0.2% m/m vs. forecast 0.0% (previous –0.1%) and –0.9% y/y vs. –0.6% expected. This confirms the Swiss National Bank’s decision to cut rates to 0.0% and suggests the central bank will maintain its dovish tone at the September 25 meeting. Q2 GDP grew just 0.1%, well below the 0.4% consensus, while Q1 was revised up to 0.8% from 0.3%.
By Sagar Dua XAU/USD is trading within the 3432.00–3263.00 range, awaiting new catalysts. Following the U.S.–Russia presidential summit in Anchorage, Alaska, where Vladimir Putin and Donald Trump discussed bilateral relations and potential peace talks over the Russia–Ukraine conflict, markets are bracing for a possible trilateral meeting with Ukraine. Any progress toward a ceasefire could sharply reduce demand for safe-haven assets and push gold toward 3263.00. Conversely, escalation would likely boost gold prices.
By Sagar Dua The French CAC 40 index is trading at 7937.0, with investor focus returning to core fundamentals and macroeconomic data, particularly inflation reports that are crucial for the European Central Bank (ECB). Potential long-term implications of the EU–U.S. trade agreement on energy and defense imports have temporarily moved out of the spotlight due to the extended timeline for implementation.
By Sagar Dua Brent crude prices are consolidating lower at 65.47 in a stable downtrend. The market remains steady despite U.S. diplomatic pressure on Russian energy imports. Last week’s summit between U.S. President Donald Trump and Russian President Vladimir Putin ended without major breakthroughs, but Washington temporarily eased its stance on China, India, and Brazil — key buyers of Russian hydrocarbons. In parallel, Moscow amended its decree on special economic measures in the energy sector, enabling ExxonMobil Corp. to regain its 30% stake in the Sakhalin-1 oil and gas project, previously written off at a $4.6 billion loss. This move may reopen opportunities for Western majors in the Russian market.
By Sagar Dua The NZD/USD pair is consolidating around 0.5940. Attempts by the New Zealand dollar to extend local growth face limited resistance from the U.S. dollar, which weakened at the end of last week. However, recent macro data highlights ongoing instability in New Zealand’s economy.
By Sagar Dua The AUD/USD pair is consolidating around 0.6519, with the Australian dollar maintaining a local upward trend after the U.S. dollar struggled at the end of last week.
By Sagar Dua The U.S. dollar is slipping against the euro, pound, and yen.
By Sagar Dua The GBP/USD pair is currently correcting around 1.3548, with dynamics supported by the neutral trend of the US dollar, while the British pound gained value, primarily due to the recent interest rate cut by the Bank of England and positive macroeconomic data.
By Sagar Dua GBP/USD is consolidating around 1.3548. The move reflects a neutral U.S. dollar backdrop and a firmer pound, supported by the Bank of England’s recent rate cut and a batch of upbeat macro data.
By Sagar Dua WTI Crude Oil prices are holding around 62.96 during the Asian session as investors digest OPEC’s monthly report. The cartel now expects global oil demand in 2026 to increase by 1.38 million barrels per day, which is 100 thousand bpd above the July estimate, while its outlook for 2025 remains unchanged. The bulk of the growth is seen in non-OECD countries—about 1.2 million bpd—driven notably by India and China, while OECD economies are set to contribute roughly 200 thousand bpd. In absolute terms, demand in 2026 is projected to reach around 107 million bpd. OPEC also trimmed its non-OPEC+ supply growth forecast to 630 thousand bpd from 730 thousand bpd a month earlier, mainly due to an anticipated 100 thousand bpd decline in U.S. shale output. In OPEC’s view, this should help balance the market and ease the bloc’s plan to gradually unwind production curbs after years of restraints.
By Sagar Dua AUD/USD slid to the 0.6500 handle following Australia’s June labor-market print.
By Sagar Dua USD/JPY is easing within a broader downtrend around 46.40, as the US dollar’s choppy performance keeps pressure on the pair while the yen struggles to recover in the absence of fresh top-tier data and amid uncertainty over the next policy steps.
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