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FX Weekly Strategy: Asia, Sep 14-18
September 11, 2026 5:21 PM UTC
A week of 2 key central bank meetings..
We expect a 25bp Fed hike but perhaps a "dovish hike". Could temper dollar given a lot priced in further out
BoJ also seen going 25bp. A heavy USD/JPY needs validation on shift to quarterly pace however to extend - else to re-test persistence of supply
CHF still
U.S. Equity-Treasury Strains and Correction Risk
September 9, 2026 8:00 AM UTC
· Equity investors have taken note of higher U.S. Treasury yields, but the influence of the AI boom and corporate earnings is greater. Nevertheless, the U.S. equity market valuation means that it is stretched currently versus the U.S. Treasury market and could be hurt by moderate bad
FX Weekly Strategy: Asia, Sep 7-11
September 4, 2026 2:47 PM UTC
US CPI a key focal point. We see upside risks at 0.3% core
ECB hike fully priced in; attention turns to forecasts and commentary on policy stance
Sharp USD/JPY lurch down may have left behind better supply into bounces, further downside risks ahead
BoE seen back of the tightening pack, sterling could s
Barbarous Relic or Strategic Hedge - Gold in a late-cycle portfolio
September 1, 2026 7:00 AM UTC
* Gold worked off early year retail excess, moving into a more constructive technical and seasonal period
* The strategic case for gold is much wider: rich risk asset valuations can neither be sat out nor left unhedged
* History (no guarantee of future performance…) supports increased gold hedges in
EUR/USD, GBP/USD flows - UK labour data softer; schizophrenic mood slightly catches up with risk o/n
August 18, 2026 6:41 AM UTC
The schizophrenic, compartmentalised performance slightly catches up with risk overnight, as US-Iran standoff slightly dents mood
UK labor data overall soft and helps keep BoE wait and see on hold
UK CPI Preview: Headline Inflation to Increase on Higher Energy Costs but no Second Round Effects
September 14, 2026 9:24 AM UTC
· Inflation figures will come ahead of BoE meeting on September 17 in which the Bank is expected to keep rates on hold. Headline annual inflation rose to 2.9% in July and is forecast to increase to 3.1% in August with core also ticking up to 2.7% from 2.6% previously. The numbers are un
UK CPI Preview: Headline Inflation to Increase on Higher Energy Costs but no Second Round Effects
September 14, 2026 9:22 AM UTC
· Inflation figures will come ahead of BoE meeting on September 17 in which the Bank is expected to keep rates on hold. Headline annual inflation rose to 2.9% in July and is forecast to increase to 3.1% in August with core also ticking up to 2.7% from 2.6% previously. The numbers are un
IMM Commitment of Traders Reports - carry switching on show, contrary indicator for kiwi
September 14, 2026 8:57 AM UTC
Spec market turns slightly JPY long for the first time since Apr
At the same time, CHF shorts pick back up on switching, now some 1.3stdev above average
Overall $ long pared back further, still net long but back within normal bounds, tempering headwinds
Mkt still short GBP, positioning may be tending t
Open AI Delay IPO and Safety Fears
September 14, 2026 6:59 AM UTC
· For financial markets, the Open AI IPO delay risks making the Open AI ecosystem more volatile, despite the huge private financing that it has already done this year. Additionally, the wider safety fears and calls for slowing by leading AI labs increase the risks surrounding the 2027
Asia Summary and Highlights 14 September
September 14, 2026 5:25 AM UTC
Asia Session
Broader risk sentiment is sour on geopolitics. Over the weekend, there is more harassment in the Strait, concern on Saudi’s pipeline also worsens. Major equity indexes are performing individually but are tilted south. AUD/USD is trading 0.29% lower at 0.7149. NZD/USD is trading 0.51%
FX Weekly Strategy: Europe, Sep 14-18
September 14, 2026 3:30 AM UTC
A week of 2 key central bank meetings..
We expect a 25bp Fed hike but perhaps a "dovish hike". Could temper dollar given a lot priced in further out
BoJ also seen going 25bp. A heavy USD/JPY needs validation on shift to quarterly pace however to extend - else to re-test persistence of supply
CHF still