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August 20, 2026
USD/JPY, EUR/USD flows: strong data, market could test Treasury to entice further interventions
August 20, 2026 2:06 PM UTC
US30s give back some of the kneejerk relief and parts of the US economy still running strong
The market might test the Treasury after its recent intervention
If so, that could further complicate the fiscal-monetary blur
U.S. Initial Claims stabilizing, August Philly Fed extremely strong
August 20, 2026 1:09 PM UTC
Initial claims at 206k in the survey week for August’s non-farm payroll are down from 212k in the preceding week but appear to be stabilizing after slipping in July. August’s Philly Fed manufacturing index of 47.4 is very strong indeed, suggesting July’s reading of 41.4 was not overstated as m
DM Central Banks Watching Stablecoins
August 20, 2026 10:55 AM UTC
· Overall, DM central banks have a watching brief for stablecoins and the scale of growth in the next 5 years. This is largely a USD centric issue, with stablecoins dominated by USD issuance. Central banks are watchful on whether it impacts access to low cost deposit for banks; guardi
USD/JPY, EUR/USD flows: dollar remains off balance, prone to pressure
August 20, 2026 7:02 AM UTC
USD remains weighed out of yesterday's move even if the current risk bounce stems the USD/funding drops
EUR/USD just off next resistance and looking higher on the charts
Will bond vigilantes accept the gift or, like many interventions, pressure for more
August 19, 2026
FOMC Minutes: Inter-meeting data seen as important
August 19, 2026 6:58 PM UTC
FOMC minutes from July 29 confirm that most participants supported leaving rates steady but several favored a 25bps tightening, implying more than the three hawkish dissenters, presumably non-voting district presidents. Many assessed that tightening would be necessary if inflation did not decline, w
FOMC Minutes: Inter-meeting data seen as important
August 19, 2026 6:56 PM UTC
FOMC minutes from July 29 confirm that most participants supported leaving rates steady but several favored a 25bps tightening, implying more than the three hawkish dissenters, presumably non-voting district presidents. Many assessed that tightening would be necessary if inflation did not decline, w