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This week's five highlights
Freemium Article

July 31, 2026 11:00 AM UTC

FOMC leaves rates unchanged with three hawkish dissents
U.S. Q2 GDP strong outside net exports, inventories and government
BoJ As Expected
USD/JPY Intervened
BOE Split Does Not Mean September Hike

CHF/JPY and the carry question
Paying Article

July 30, 2026 1:39 PM UTC

·       CHF/JPY has become interesting from several directions: extreme relative valuation, changing carry rankings, opposing official preferences over currency direction, and the beginnings of a possible technical rollover. When things align, they can encourage some migration in positioning

FX Weekly Strategy: Asia, Jul 27-31
Paying Article

July 24, 2026 3:00 PM UTC

FOMC Unchanged policy with an unspoken tightening bias
U.S. Q2 GDP and PCE
BOE Hawkish Noises
Canada Heading for a healthy Q2 GDP 

...
BOE Preview After CPI: Hawkish Noises
Paying Article

July 22, 2026 6:11 AM UTC

•    The BOE will likely maintain a hawkish bias on July 30, but are unlikely to signal a September hike. The June CPI did not really change this picture, with the core unchanged at 2.6%. Though BOE Bailey recently noted the unstable process (in the Straits of Hormuz and for energy prices), he

Chart USD/INR Update: Consolidating, room to extend gains
Paying Article

July 22, 2026 5:28 AM UTC

Consolidating test of the 96.5000 high but pressure remains on the upside as prices extend strong gains from the June low

FX Daily Strategy: Asia, Jul 21
Paying Article

July 20, 2026 3:00 PM UTC

Iran/U.S. Escalating 
USD/JPY Coiled below 162.70/84 highs

Chart USD/INR Update: Extending gains
Paying Article

July 16, 2026 5:28 AM UTC

Break above 96.0000/96.3000 area see prices extending gains from the 94.1500 June low

U.S. June NFIB survey - Bounce may be dated, prices strong
Paying Article

July 14, 2026 11:57 AM UTC

June’s NFIB survey of Small Business Optimism shows the optimism index at its highest since February at 97.4 from 95.3, a reading that was the lowest since October 2024 just before a sharp post-election bounce.

FX Daily Strategy: Asia, Aug 5
Paying Article

August 4, 2026 3:00 PM UTC

June Labor Cash Earning Critical for BoJ
So as NZ Wage Growth
U.S. July ADP Employment suggests some slowing
ISM Services Keeping to a tight range

U.S. June JOLTS report shows job openings correcting lower but Q2 remains positive
Paying Article

August 4, 2026 2:14 PM UTC

June’s JOLTS report has shown a 178k decline in job openings with May revised to a 48k decline from a 9k increase. With April having seen a strong 698k increase the 3-month average is still firm at 157k, while the 6-month average is similar at 135k. Q1 also saw a strong rise at the start of the mo

Weekly Chart EUR/USD Update: Limited tests higher
Paying Article

August 4, 2026 2:02 PM UTC

Choppy trade above the 1.1325 current year low of 24 June has given way to a sharp bounce in JPY-driven global volatility

Chart AUD/USD Update: Cautious trade
Paying Article

August 4, 2026 1:10 PM UTC

The test below congestion support at 0.7000 has bounced from 0.6985

...
U.S. Trade Deficit corrects lower in June but remains wider in Q2
Paying Article

August 4, 2026 12:57 PM UTC

June’s trade deficit of $73.3bn is in line with expectations and down from $77.6bn in May though still well above deficits of near $55bn in each month from January through April. This confirms a significant negative from net exports in Q2 GDP.

U.S. Trade Deficit corrects lower in June but remains wider in Q2
Paying Article

August 4, 2026 12:57 PM UTC

June’s trade deficit of $73.3bn is in line with expectations and down from $77.6bn in May though still well above deficits of near $55bn in each month from January through April. This confirms a significant negative from net exports in Q2 GDP.

Chart EUR/JPY Update: Cautious trade - background studies under pressure
Paying Article

August 4, 2026 12:53 PM UTC

Consolidation around 180.80 has given way to further gains, with prices reaching 181.80 in JPY-driven trade, before settling lower to 181.35

Chart USD/JPY Update: Quiet trade, but studies remain under pressure
Paying Article

August 4, 2026 12:28 PM UTC

Consolidation around 157.00 has given way to further gains

U.S. Fed's Paulson - If policy is in the right place inflation will ease
Paying Article

August 4, 2026 12:17 PM UTC

Fed's Paulson backed keeping policy on hold but needs inflation to fall if she is to maintain that stance. 

Preview: Due August 5 - U.S. July ISM Services - Keeping to a tight range
Paying Article

August 4, 2026 11:10 AM UTC

We expect a July ISM services index of 54.5, returning to May’s level after a dip to 54.0 in June. The index has been in a tight range since December, apart from a brief bounce to 56.1 in February.

Preview: Due August 5 - U.S. July ADP Employment - Weekly ADP data suggests some slowing
Paying Article

August 4, 2026 11:05 AM UTC

We expect a 65k increase in July’s ADP estimate for private sector employment, which is well below our forecast for July’s private sector non-farm payroll of 110k (we expect overall payrolls to rise by 120k). It is however similar to June’s non-farm payroll, which rose by 57k and 49k in the pr

Chart EUR/SEK Update: Choppy trade - background studies turning down
Paying Article

August 4, 2026 10:44 AM UTC

Consolidation beneath the 11.1000 range highs has given way to a pullback to 10.9445

Europe Summary and Highlights 4 Aug
Paying Article

August 4, 2026 9:57 AM UTC

Quiet morning, some backfilling from oversold dollar

Chart EUR/CHF Update: Consolidating - background studies improving
Paying Article

August 4, 2026 9:42 AM UTC

Little change, as prices extend consolidation around 0.9315/20

FX Daily Strategy: N America, Aug 4
Paying Article

August 4, 2026 9:28 AM UTC

US admin may be more fickle, but joint intervention has tended to work...
Waiting for payrolls. Is CHF now the most responsive to US data? 
Oil and NOK continue to be marked to US gyrations on Iran

Psychology for major markets Aug 4
Paying Article

August 4, 2026 8:55 AM UTC

U.S.-Iran's Rhetoric Remains Confusing

EUR/USD, USD/JPY, Flows: Consolidation on a quiet day, same big picture issues
Paying Article

August 4, 2026 8:35 AM UTC

After a few wilder sessions, market in quiter consolidation amid stretched moves, quiet calendar
Same big picture issues remain in the background, payrolls next extra input

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