FX Weekly Strategy: August 25th-29th

August 22, 2025 3:11 PM UTC

 Powell comments put the USD on the back foot
JPY still has the most potential for long term gains…
…but gains on the crosses are unlikely until risk premia rise
USD/CAD now looks likely to meet selling above 1.39.

North American Summary and Highlights 15 Aug

August 15, 2025 7:51 PM UTC

Overview - The USD was generally weaker, but stabilized in North America after falling in Europe. 

FX Daily Strategy: N America, August 29th

August 29, 2025 8:47 AM UTC

JPY upside risks as Japan Core-Core CPI stubborn
European CPI unlikely to have much impact
US trade data could undermine the USD
CAD vulnerable to decline in GDP

FX Daily Strategy: Europe, Sep 3rd

September 3, 2025 4:32 AM UTC

AUD mildly favoured on GDP data
Some scope for JPY to sustain late recovery seen Tuesday
GBP may reverse some of Tuesday’s losses on MPC testimony

AUD/USD flows: Q2 GDP Beats

September 3, 2025 3:46 AM UTC

Australia Q2 GDP +0.6% q/q

Chart USD/CNH Update: Room to extend corrective bounce

September 3, 2025 2:55 AM UTC

Turned higher from the 7.1200 support to reach support turned resistance at the 7.1440/7.1500, July lows

Chart USD/THB Update: Higher in consolidation from 32.26/24 lows

September 3, 2025 2:44 AM UTC

Higher from the 32.26/24 lows as prices consolidate pullback from the 32.68 high of 22 August

Chart USD/KRW Update: Retest 1395.00/1400.00 resistance

September 3, 2025 2:33 AM UTC

Higher in choppy trade to retest strong resistance at the 1395.00/1400.00 area which is expected to cap

Chart USD/SGD Update: Pressuring 1.2900 range high

September 3, 2025 2:22 AM UTC

Consolidation above the July trendline has given way to bounce to retest range high at the 1.2900 level

Chart GBP/USD Update: Weighing on 1.3400/1.3370 support

September 3, 2025 2:10 AM UTC

Rejection from the 1.3550 high has seen sharp pullback to retest strong support at the 1.3400/1.3370 area

Chart EUR/USD Update: Turned down from the 1.1730/42, August highs

September 3, 2025 1:53 AM UTC

Failure to clear the August highs at 1.1730/42 has given way to pullback and further extend choppy trade within the 1.1700/1.1600 area

Chart EUR/JPY Update: Focus on the 173.90, July high

September 3, 2025 1:36 AM UTC

No follow-through on break of the 173.00 level but pressure remains on the upside

Chart USD/JPY Update: Pressuring 148.65/149.00 resistance

September 3, 2025 1:07 AM UTC

Break above 147.50 saw sharp gains to retest strong resistance at the 148.65/149.00 area

Chart NZD/USD Update: Under pressure from the .5900/15 resistance

September 3, 2025 12:51 AM UTC

Prices remains under pressure following rejection from test of the .5900 congestion

Chart AUD/USD Update: Leaning lower from the .6550/70 resistance

September 3, 2025 12:31 AM UTC

No follow-through on break of the .6500 level but unwinding overbought daily studies suggest room for deeper pullback from the .6550/75 resistance

North American Summary and Highlights 2 Sep

September 2, 2025 7:34 PM UTC

Overview - The USD advanced in Europe, most prominently versus the GBP as fiscal policy worries escalated. 

Chart USD/MXN Update: Choppy in range

September 2, 2025 4:02 PM UTC

Consolidation around support at 18.6000 has given way to a sharp bounce

Chart USD/CAD Update: Immediate gains to remain limited

September 2, 2025 3:29 PM UTC

Consolidation around 1.3750 has given way to a sharp run higher

FX Daily Strategy: APAC, Sep 3rd

September 2, 2025 3:11 PM UTC

AUD mildly favoured on GDP data
Some scope for JPY to sustain late recovery seen Tuesday
GBP may reverse some of Tuesday’s losses on MPC testimony

U.S. August ISM Manufacturing - New orders positive but production slips

September 2, 2025 2:15 PM UTC

August’s ISM manufacturing index of 48.7 us up from July’s 48.0 but still below June’s 49.0 and weaker than the S and P manufacturing PMI and several regional Fed surveys had implied. 

USD, JPY flows: USD slips after ISM, JPY has scope for recovery

September 2, 2025 2:15 PM UTC

ISM manufacturing rises less than expected but new orders index encouraging. USD downside likely modest but scope for more general JPY recovery.

Chart AUD/USD Update: Limited downside tests

September 2, 2025 1:29 PM UTC

Cautious trade around congestion resistance at 0.6550 has given way to a sharp pullback

Chart EUR/JPY Update: Strong resistance at 173.90/00

September 2, 2025 1:21 PM UTC

The anticipated test of congestion resistance at 173.00 has extended to 173.40 in choppy trade

Chart USD/JPY Update: Smart bounce in both USD- and JPY-driven trade

September 2, 2025 12:58 PM UTC

Cautious trade above support at 147.00 has given way to a sharp bounce in both USD- and JPY-driven trade