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US: Something new on the tariffs front - Commerzbank
The tariffs imposed by US President Trump are set to take effect today. However, there is now new information about countries that have not yet reached an agreement with the US, Commerzbank's FX analyst Antje Praefcke notes.
CAD: Further to fall after tariff hit - ING
New 'reciprocal' tariffs are having little market impact. Canada deserves special attention in our view, though, especially after Mexico secured another pause extension yesterday, ING's FX analyst Francesco Pesole notes.
EUR/USD may test the 1.1380 support - UOB Group
Euro (EUR) could test the 1.1380 level against US Dollar (USD); a sustained drop below this level seems unlikely. In the longer run, EUR view remains negative; the next level to watch is 1.1350, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
USD: Tariffs shrugged off, eyes on payrolls - ING
The US has unveiled new tariffs coming into effect on 7 August. The base rate for most countries has remained at 10% but other trading partners (like Canada, Switzerland and New Zealand) are hit with tariffs of up to 41%.
USD/CAD rallies further, approaches 1.3900 on higher levies to Canada
The US Dollar keeps marching higher, as the Canadian Dollar struggles after Trump decided to increase tariffs to Canada to 35% from the previous 25%, escalating the trading tension with one of its main trading partners.The US President justified his decision on Canada's alleged reluctance to coopera
Eurozone Preliminary HICP inflation steadies at 2% YoY in July vs. 1.9% expected
The Eurozone Harmonized Index of Consumer Prices (HICP) rose 2% over the year in July, at the same pace seen in June, the official data released by Eurostat showed Friday.
AUD/USD hovers near 0.6425 lows with all eyes on the US Nonfarm Payrolls
The Aussie Dollar remains depressed near one-month lows at 0.6425 against its US peer, consolidating losses after having depreciated beyond 2% so far this week.
Dow Jones futures fall due to US tariff concerns, US NFP eyed
Dow Jones futures decline ahead of the US market opening on Friday, trading around 44,100, down by 0.46%, during European hours. Meanwhile, S&P 500 futures are down by 0.41% to near 6,350, and Nasdaq 100 futures decline 0.46% to trade near 23,250.
Pound Sterling stays on the back foot against US Dollar as traders trim Fed rate cut bets
The Pound Sterling (GBP) holds onto losses near an almost 11-week low at around 1.3200 against the US Dollar (USD) during the European trading session on Friday.
Silver Price Forecast: XAG/USD trades lower as US deals eases tariff uncertainty, NFP eyed
Silver price is down 0.5% to near $36.50 during the European trading session on Friday.
EUR/GBP recovery remains capped below 0.8665 with Eurozone inflation on focus
The Euro extends its recovery against the Sterling for the second consecutive day on Friday. Still, price action remains contained below the 0.8665 with investors awaiting manufacturing activity figures from the Eurozone and the UK ahead of July's final Eurozone HICP figures.
Forex Today: July Nonfarm Payrolls data to keep volatility high heading into weekend
Here is what you need to know on Friday, August 1:
USD/CHF holds gains near 0.8150 as Trump slaps 39% tariff on Swiss goods
USD/CHF holds ground after registering losses in the previous session, trading around 0.8130 during the early European hours on Friday.
NZD/USD drops to 0.5870 area, lowest since mid-May as USD bulls await NFP report
The NZD/USD pair prolongs its downtrend for the seventh straight day and drops to its lowest level since mid-May, around the 0.5875-0.5870 region during the early European session on Friday.
AUD/JPY softens to below 97.00 as China's manufacturing activity shrinks
The AUD/JPY cross posts modest losses near 96.80 during the early European session on Friday. The downbeat Chinese economic data undermines the China-proxy Australian Dollar (AUD). China's July Caixin Services Purchasing Managers Index (PMI) report will be released next week.
FX option expiries for Aug 1 NY cut
FX option expiries for Aug 1 NY cut at 10:00 Eastern Time via DTCC can be found below.
USD/MXN remains below 19.00 as Trump grants Mexico 90-day reprieve from 30% tariff hike
USD/MXN inches lower after registering gains in the previous five consecutive days, trading around 18.90 during the Asian hours on Friday.
Japan's Ishiba: Continue to ask US to lower auto tariffs
Japanese Prime Minister Shigeru Ishiba said on Friday that he continues to ask the United States (US) to implement measures, including the lowering of auto tariffs.
US Dollar Index hovers around 100.00, nine-week highs ahead of Nonfarm Payrolls
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, remains stronger for the seventh successive day and is trading around 100.00 during the Asian hours on Friday.
EUR/JPY Price Forecast: Positive view prevails near 172.00, investors await Eurozone HICP release
The EUR/JPY cross trades with mild losses near 172.00 during the early European session on Friday. The Euro (EUR) softens against the Japanese Yen (JPY) amid the tariff uncertainty surrounding the US-EU trade deal.
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