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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

...
Margin Call - Does Margin Debt Really Predict Market Crashes?
Paying Article

July 27, 2026 11:31 AM UTC

·       US margin debt has reached USD1.5tn, the kind of huge round figure milestone that is always going to get a fair amount of attention, especially with the market focused on risk and valuations. Should this number be sounding the alarm? The balanced answer is probably partially, though i

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 EUR/CHF Update: Balanced beneath fresh year high
Paying Article

August 17, 2026 10:41 AM UTC

March gains have extended, with prices posting a fresh year high around 0.9410~ before settling into consolidation beneath 0.9400

Europe Summary and Highlights 17 Aug
Paying Article

August 17, 2026 10:26 AM UTC

USD generally softer across the board on ongoing summer low vol and Fed expectations retreat drivers
CHF also sees a technical bounce as EUR/CHF uptrend held by test of Dec25 resistance

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From Hanging Chads to Hanging By a Thread – ‘Alternative’ US Election Risk Scenarios
Paying Article

August 17, 2026 9:22 AM UTC

* Without being alarmist, the market arguably needs to factor in the risk that the elections do not proceed smoothly to a clean conclusion. At the moment, there is no risk premia
* The markets hope that the destination is some degree of gridlock and thus reduction in extreme policy (albeit with mixed

FX Weekly Strategy: N America, Aug 17-21
Paying Article

August 17, 2026 8:58 AM UTC

Canada trade deadline a wildcard, but skew has been favouring a short CAD squeeze
FOMC Minutes may give more insight to Fed debate
US yield retreat chips at $ longs, although also supports summer low vol risk (for now...)

Psychology for major markets Aug 17
Paying Article

August 17, 2026 8:32 AM UTC

Another Breath before Weekend

Chart USD/CHF Update: Under pressure in both USD- and CHF-driven trade
Paying Article

August 17, 2026 8:22 AM UTC

Cautious trade beneath congestion resistance at 0.8150 is giving way to a pullback in both USD- and CHF-driven trade

Chart USD Index DXY Update: Extending losses
Paying Article

August 17, 2026 8:14 AM UTC

Choppy trade around 99.50 has given way to a break

Chart EUR/GBP Update: Pushing higher
Paying Article

August 17, 2026 8:05 AM UTC

Cautious trade is giving way to a test higher

IMM Commitment of Traders Reports w/e Aug 11, little change in the week
Paying Article

August 17, 2026 7:55 AM UTC

IMM data for w/e Aug 11 generally shows little change across counters, still very long $ overall
Yen shorts still smallest since Apr, and around 'normal' levels for recent years
Market remains extreme CAD short into trade deadline - binary event but squeeze risk evident
MXN longs inch back out amid the

Chart EUR/USD Update: Extending late-June gains
Paying Article

August 17, 2026 7:43 AM UTC

Cautious trade has given way to fresh gains

Chart GBP/USD Update: Poised for further gains
Freemium Article

August 17, 2026 7:28 AM UTC

Consolidation following the anticipated test of strong resistance at the 1.3558 monthly high of 15 July is giving way to renewed buying interest

Weekly Chart AUD/USD: Extending gains
Paying Article

August 17, 2026 7:27 AM UTC

Consolidation beneath strong resistance the .7080/.7100 area last week has given way to break to extend choppy gains from the .6865, late-June low

EUR/USD, USD/JPY, DXY flows - still low vol summer usd/risk versus Iran standoff
Paying Article

August 17, 2026 7:02 AM UTC

Better risk/usd tone holds in, amid low vol and equity resilience
The question mark remains for how long as both US and Iran play the long game stand off

Chart USD/TWD Update: Extending losses
Paying Article

August 17, 2026 6:51 AM UTC

Sharply lower, as prices extend break of the 32.200 support last week following rejection from the 32.550 high

Chart AUD/NZD Update: Extend rejection from 1.2100/30 resistance
Paying Article

August 17, 2026 6:33 AM UTC

Settled back from test of the 1.2100 level as prices retrace gains from the 1.1915, 3 August low

Asia Summary and Highlights 17 August
Paying Article

August 17, 2026 5:11 AM UTC

Japan Q2 preliminary GDP missed at 0.3% q/q

Chart USD/IDR Updates: Leaning lower in consolidation
Paying Article

August 17, 2026 4:31 AM UTC

Turned lower in consolidation as bounce from the 17770 low met with selling pressure at the 17880/17900 resistance

AUD/USD flows: USD Softer To Begin the Week
Paying Article

August 17, 2026 4:19 AM UTC

USD Soft Start

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