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India recently curtailed oil shipments from Russia - Commerzbank
Data from Bloomberg suggests that US President Trump's threat of punitive tariffs against India has apparently already had an effect, Commerzbank's commodity analyst Carsten Fritsch notes.
Saudi Arabia raises selling prices for customers in Asia - Commerzbank
Saudi Arabia has raised its official selling prices for oil deliveries to Asia in September, Commerzbank's commodity analyst Carsten Fritsch notes.
OPEC production fell in July due to Saudi Arabia - Commerzbank
According to a Bloomberg survey, OPEC production fell slightly in July to 28.31 million barrels per day, Commerzbank's commodity analyst Carsten Fritsch notes.
Swiss Gold Association: US tariffs may negatively impact international flow of physical gold
In response to the United States (US) Customs and Border Protection Services' classification of gold kilo bullion bar and 100 ounce bullion bar imports under a new customs code to make them eligible for tariffs, the Swiss Gold Association noted that the imposition of tariffs on these gold cast produ
Canadian Dollar weakens after disappointing July jobs report
The Canadian Dollar (CAD) loses ground against the US Dollar (USD) on Friday, with USD/CAD pushing higher as traders digest a disappointing Canadian labor market report for July.
Gold drifts lower after bulls fail to sustain above $3,400
Gold (XAU/USD) is edging lower on Friday after peaking at $3,409 earlier in the day, its highest level in two weeks amid a cautious market mood. At the time of writing, the metal is hovering near $3,395 at the start of the American session.
USD/CNH: Expected to consolidate in a range of 7.1720/7.1900 - UOB Group
US Dollar (USD) is expected to consolidate in a range of 7.1720/7.1900. In the longer run, USD appears to have moved into a 7.1600/7.2240 range trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Possible tariffs on Gold imports into the US cause turmoil on the Gold market - Commerzbank
According to a report yesterday in the Financial Times, Gold bars weighing 1 kilogram and 100 ounces were classified as subject to tariff by the US Customs Border Protection agency on July 31, Commerzbank's commodity analyst Carsten Fritsch notes.
USD/JPY: Any decline may not break below 145.8 - UOB Group
Sharp drop in US Dollar (USD) has scope to extend against Japanese Yen (JPY), but any decline may not break below 145.80, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
GBP tests 1.3450 area a number of times overnight - Scotiabank
Pound Sterling (GBP) reached a marginal new short term high in overnight trade as Asian markets caught up to the hawkish turn of events at yesterday's BoE policy decision, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
NZD/USD: Upward momentum is building - UOB Group
There appears to be sufficient momentum for New Zealand Dollar (NZD) to test 0.5980; a sustained rise above this level appears unlikely.
EUR consolidates in 1.16-1.17 range for now - Scotiabank
The Euro (EUR) is trading a little lower overall on the day but is holding a net gain on the week, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
AUD/USD: Major resistance at 0.6555 is likely out of reach - UOB Group
Bias for Australian Dollar (AUD) is on the upside; lackluster momentum indicates that the major resistance at 0.6555 is likely out of reach.
BoE's Pill: MPC overall believes UK monetary policy is still restrictive
Bank of England (BoE) Chief Economist Huw Pill said on Friday that they need to question whether the recent pace of rate cuts is sustainable if price and wage-setting behaviour changes, per Reuters.
CAD maintains ground against the USD ahead of jobs data - Scotiabank
The Canadian Dollar (CAD) is a marginal outperformer on the day among the major currencies (along with the MXN) by dint of holding relatively steady against the US Dollar (USD) as other currencies drift back ahead of the weekend, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret repor
GBP/USD: Major resistance at 1.3515 is likely out of reach for now - UOB Group
Strong momentum suggests further Pound Sterling (GBP) strength; the major resistance at 1.3515 is likely out of reach for now. In the longer run, rapid increase in momentum could lead to GBP rising to 1.3515, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
USD trades mixed as markets mull data, Fed outlook - Scotiabank
The US Dollar (USD) is ending the week mixed to slightly firmer overall though the broader trend in the DXY remains soft and sentiment retains a bearish undertone, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
Gold Price Forecast: XAU/USD rejected at $3,400, is testing support at $3,380
Gold is retreating from two-week highs at $3,400 amid a firmer US Dollar.
EUR/USD: Likely to edge above 1.170 - UOB Group
Euro (EUR) may retest, and potentially edge above 1.1700; it does not appear to have enough momentum to threaten 1.1720. In the longer run, EUR is likely to trade with an upward bias; it is unclear for now if it can reach 1.1720, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
GBP: Peak dissent at the BoE - ING
Yesterday's 25bp rate cut by the Bank of England had a clear hawkish tinge, ING's FX analyst Francesco Pesole notes.
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