North American Summary and Highlights 28 September

September 28, 2026 7:43 PM UTC

Overview - The USD was slightly firmer on Middle East risks, despite fresh attempts by Qatar to restart talks. 

U.S. Fed's Cook - Expects continued inflation pressure

September 28, 2026 5:42 PM UTC

Governor Cook is another Fed moderate now sounding hawkish. 

FOMC Minutes Preview: Likely to be hawkish, but October decision still data-dependent

September 28, 2026 4:36 PM UTC

The public comments of Fed speakers since the September 16 meeting delivered a unanimous vote to tighten suggest that the minutes of that meeting, due on October 7, will have a hawkish tone. Recent hawkish Fed talk reduces the risk that the proximity of the midterm elections will prevent a tightenin

Chart USD/CNH Update: Limited pullback - studies continue to improve

September 28, 2026 4:28 PM UTC

The retest of the wedge top from March is giving way to a pullback

Chart USD/SGD Update: Further consolidation - background studies rising

September 28, 2026 4:27 PM UTC

Little change, as mixed intraday studies keep near-term sentiment cautious and extend the pullback from strong resistance at congestion around 1.2800 and the 1.2810 Fibonacci retracement

Chart USD/CAD Update: Extending gains in USD- and CAD-driven trade

September 28, 2026 3:59 PM UTC

Cautious trade is giving way to further gains in both USD- and CAD-driven trade

FX Daily Strategy: Asia, Sep 29

September 28, 2026 3:35 PM UTC

CHF still slipping as the unicorn zero-rater
GBP got stretched (over?) short last week, EUR/GBP resistance failure weighs
RBA meeting the big event. Hike priced in so all about the forward guidance

USD/CHF, EUR/GBP, AUD/USD - Counter specific issues to the fore

September 28, 2026 2:22 PM UTC

CHF remains pressured on its unicorn policy stance
EUR/GBP sold back after failed resistance test, mkt very short GBP
AUD eyes RBA, with a hike fully priced in and so attention on any forward guidance from here. A tricky balancing act ...

Preview: Due September 29 - Canada July GDP - Subdued start to Q3

September 28, 2026 12:29 PM UTC

We expect July GDP to be unchanged, a pause after three straight gains in Q2. This would be in line with the preliminary estimate for July made with June’s report. 

Weekly Chart GBP/USD Update: Reactions before January losses resume

September 28, 2026 12:29 PM UTC

Anticipated losses have reached congestion support at 1.3200, where a tick higher in oversold daily stochastics is prompting short-covering and consolidation

Chart EUR/CHF Update: Critical resistance at 0.9475/80

September 28, 2026 10:50 AM UTC

Cautious trade is giving way to a fresh test higher

Europe Summary and Highlights 28 Sep

September 28, 2026 10:09 AM UTC

Japan verbals, warning mkt to take yen view at face value, knocks USD/JPY back again
CHF remains on a weakening track on the back of uniquely low rates
EUR/GBP rejects resistance test again, market has got stretched short GBP
Oil back to nearer $110 than $100 as Trump rejects deal

FX Weekly Strategy: N America, Sep 28 - Oct 2

September 28, 2026 9:19 AM UTC

High profile US data, but would need something big to impact now after recent steep mkt adjustment
Dollar retains bullish posture overall, but a overstretched and consolidating/correcting steep run to levels on most pairs
Japan rolls out the verbals; BoE comments hint at dab in November
Round of CB mee

IMM Commitment of Traders Reports - sterling got thematically oversold

September 28, 2026 9:07 AM UTC

Dollar longs bounce back and now fairly broad
Most dollar pairs moderate however rather than extreme
Sterling the exception, became the most popular "obvious short" last week amid CB moves
Potentially stretched now into cable support, BoE shifting Nov odds. EUR/GBP also again rejecting resistance test,

Chart EUR/JPY Update: Prices remain under pressure

September 28, 2026 8:55 AM UTC

Choppy trade around 179.00 has given way to a sharp pullback

Chart USD/CHF Update: Room for higher in CHF-driven trade

September 28, 2026 8:29 AM UTC

Little change, as prices extend cautious trade around congestion resistance at 0.8300

Chart EUR/GBP Update: Sharp pullback from strong resistance

September 28, 2026 8:12 AM UTC

The test of resistance at congestion around 0.8600 and the 0.8610 Fibonacci retracement has given way to sharp selling interest

Chart USD Index DXY Update: Any losses to remain limited

September 28, 2026 8:03 AM UTC

The test below congestion support at 101.00 has bounced from 100.85~

Chart AUD/USD Update: Cautious trade - studies remain under pressure

September 28, 2026 7:49 AM UTC

Little change, as prices extend cautious trade above congestion support at 0.7000

Chart USD/JPY Update: Consolidating losses - background studies under pressure

September 28, 2026 7:43 AM UTC

The sharp fall to congestion support at 157.00 is giving way to consolidation

Chart EUR/USD Update: Consolidating - studies under pressure

September 28, 2026 7:32 AM UTC

Still little change, as prices extend cautious trade following the anticipated test of congestion resistance at 1.1400

Chart GBP/USD Update: Consolidating - studies remain under pressure

September 28, 2026 7:24 AM UTC

Little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation