North American Summary and Highlights 11 Sep

September 11, 2025 7:40 PM UTC

Overview -
The USD slipped on a sharp rise in initial claims, despite a slightly stronger than expected US CPI.

FX Daily Strategy: Asia, Sep 12th

September 11, 2025 4:00 PM UTC

More Uncertainty within the U.S. 
Could See Choppy USD
Gauging Momentum Amid Conflicting Signs for UK GDP

Psychology for major markets Sep 11

September 11, 2025 10:00 AM UTC

Mostly rangebound waiting for CPI and then Fed next week. 

FX Daily Strategy: N America, Sep 11th

September 11, 2025 9:55 AM UTC

US CPI risks slightly to the upside
USD impact likely to be modest, but JPY favoured
ECB meeting a damp squib

Asia Summary and Highlights 11 Sep

September 11, 2025 5:11 AM UTC

Japan August PPI +2.7% y/y

FX Daily Strategy: Europe, Sep 11th

September 11, 2025 4:37 AM UTC

US CPI risks slightly to the upside
USD impact likely to be modest, but JPY favoured
ECB meeting a damp squib

FX Daily Strategy: Asia, Sep 11th

September 10, 2025 9:00 PM UTC

US CPI risks slightly to the upside
USD impact likely to be modest, but JPY favoured
ECB meeting a damp squib

North American Summary and Highlights 10 Sep

September 10, 2025 7:39 PM UTC

Overview - The USD was little changed with a dip on a soft US PPI being quickly reversed. 

FX Daily Strategy: APAC, Sep 11th

September 10, 2025 3:03 PM UTC

US CPI risks slightly to the upside
USD impact likely to be modest, but JPY favoured
ECB meeting a damp squib

Europe Summary and Highlights 10 September

September 10, 2025 10:02 AM UTC

 A very quiet European morning session saw very little FX movement.

Psychology for major markets Sep 10

September 10, 2025 10:01 AM UTC

Mostly rangebound, AUD still firm

FX Daily Strategy: N America, Sep 10th

September 10, 2025 9:18 AM UTC

US PPI a focus after sharp gain in July
USD will likely be more sensitive to stronger data
NOK/SEK may have potential to extend gains
JPY still has most potential to make gains against the USD

Asia Summary and Highlights 10 Sep

September 10, 2025 5:41 AM UTC

Reports of Russian drone incursions into Poland Airspace

FX Daily Strategy: Europe, Sep 10th

September 10, 2025 4:10 AM UTC

US PPI a focus after sharp gain in July
USD will likely be more sensitive to stronger data
NOK/SEK may have potential to extend gains
JPY still has most potential to make gains against the USD

FX Daily Strategy: Asia, Sep 10th

September 9, 2025 9:00 PM UTC

US PPI a focus after sharp gain in July
USD will likely be more sensitive to stronger data
NOK/SEK may have potential to extend gains
JPY still has most potential to make gains against the USD

North American Summary and Highlights 9 Sep

September 9, 2025 7:39 PM UTC

Overview - USD/JPY slipped in Europe but rebounded in North America as the US advanced generally. 

FX Daily Strategy: APAC, Sep 10th

September 9, 2025 3:01 PM UTC

US PPI a focus after sharp gain in July
USD will likely be more sensitive to stronger data
NOK/SEK may have potential to extend gains
JPY still has most potential to make gains against the USD

Europe Summary and Highlights 9 September

September 9, 2025 10:11 AM UTC

USD/JPY fell half a figure to below 146.50 through the European morning, helped by a report quoting BoJ sources as indicating that the October and December meetings were “live”, with the potential for a rate hike. 

Psychology for major markets Sep 9

September 9, 2025 10:05 AM UTC

JPY rallies on talk of BoJ tightening, USD soft

FX Daily Strategy: N America, Sep 9th

September 9, 2025 8:59 AM UTC

US benchmark payroll revisions unlikely to have any sustained impact
AUD/USD pressing top end of the range despite softer confidence data
SNB’s Schlegel may show concern about CHF strength
JPY weakness on Ishiba resignation unlikely to last

Asia Summary and Highlights 9 Sep

September 9, 2025 4:38 AM UTC

Japan’s LDP set October 4 for leadership vote

FX Daily Strategy: Europe, Sep 9th

September 9, 2025 4:07 AM UTC

US benchmark payroll revisions unlikely to have any sustained impact
AUD/USD pressing top end of the range ahead of confidence data
SNB’s Schlegel may show concern about CHF strength
JPY weakness on Ishiba resignation unlikely to last

FX Daily Strategy: Asia, Sep 9th

September 8, 2025 9:00 PM UTC

US benchmark payroll revisions unlikely to have any sustained impact
AUD/USD pressing top end of the range ahead of confidence data
SNB’s Schlegel may show concern about CHF strength
JPY weakness on Ishiba resignation unlikely to last

North American Summary and Highlights 8 Sep

September 8, 2025 7:44 PM UTC

Overview - The USD was marginally lower in a day of limited news other than French PM Bayrou losing a no-confidence vote, which was not a surprise to the markets. 

FX Daily Strategy: APAC, Sep 9th

September 8, 2025 3:01 PM UTC

US benchmark payroll revisions unlikely to have any sustained impact
AUD/USD pressing top end of the range ahead of confidence data
SNB’s Schlegel may show concern about CHF strength
JPY weakness on Ishiba resignation unlikely to last

Europe Summary and Highlights 8 September

September 8, 2025 10:03 AM UTC

The USD was generally weaker through the European morning, mainly against the JPY and AUD. 

Psychology for major markets Sep 8

September 8, 2025 10:03 AM UTC

USD softer after employment report, JPY weaker after Ishiba resignation

FX Weekly Strategy: Sep 8th-12th

September 8, 2025 8:53 AM UTC

 Focus on CPI but employment data aftermath may dominate early part of the week
USD downside favoured, particularly against the JPY
CAD may be even more vulnerable after very weak August employment
GBP could suffer if July GDP turns out negative

IMM Commitment of Traders Reports w/e September 2nd

September 8, 2025 7:06 AM UTC

JPY and EUR net speculative positioning remains long, but reduced. AUD, CAD and CHF positioning short

Asia Summary and Highlights 6 Sep

September 8, 2025 5:05 AM UTC

Japanese PM Ishiba resigned over the weekend

FX Weekly Strategy: Asia, Sep 8th-12th

September 7, 2025 9:00 PM UTC

Focus on CPI but employment data aftermath may dominate early part of the week
USD downside favoured, particularly against the JPY
CAD may be even more vulnerable after very weak August employment
GBP could suffer if July GDP turns out negative

FX Weekly Strategy: APAC, Sep 8th-12th

September 7, 2025 5:00 PM UTC

Focus on CPI but employment data aftermath may dominate early part of the week
USD downside favoured, particularly against the JPY
CAD may be even more vulnerable after very weak August employment
GBP could suffer if July GDP turns out negative

North American Summary and Highlights 5 Sep

September 5, 2025 7:36 PM UTC

Overview - The USD was marginally lower ahead of the US employment report and extended losses on weak data. USD/CAD was an exception, with Canada’s employment report even weaker than the US one. 

FX Weekly Strategy: Sep 8th-12th

September 5, 2025 3:14 PM UTC

Focus on CPI but employment data aftermath may dominate early part of the week
USD downside favoured, particularly against the JPY
CAD may be even more vulnerable after very weak August employment
GBP could suffer if July GDP turns out negative

Europe Summary and Highlights 5 September

September 5, 2025 10:13 AM UTC

The USD was generally weaker through the European morning, losing 0.1-0.2% across the board.

Psychology for major markets Sep 5

September 5, 2025 10:11 AM UTC

Ranges continue to dominate ahead of US employment data, but JPY weak

FX Daily Strategy: N America, Sep 5th

September 5, 2025 9:05 AM UTC

US August employment data likely to be similar to July
USD downside risks on weak data likely greater than upside risks on strong data
Japanese wage data could impact BoJ expectations
UK delayed retail sales data needs to beat consensus to sustain better trend

Asia Summary and Highlights 5 Sep

September 5, 2025 4:55 AM UTC

July labor cash earnings +4.1% y/y 

FX Daily Strategy: Asia, Sep 5th

September 4, 2025 9:00 PM UTC

US August employment data likely to be similar to July
USD downside risks on weak data likely greater than upside risks on strong data
Japanese wage data could impact BoJ expectations
UK delayed retail sales data needs to beat consensus to sustain better trend

North American Summary and Highlights 4 Sep

September 4, 2025 7:46 PM UTC

Overview - The USD was marginally firmer ahead of the non-farm payroll, though Thursday’s US data was mixed. 

FX Daily Strategy: APAC, Sep 5th

September 4, 2025 3:13 PM UTC

US August employment data likely to be similar to July
USD downside risks on weak data likely greater than upside risks on strong data
Japanese wage data could impact BoJ expectations
UK delayed retail sales data needs to beat consensus to sustain better trend

Europe Summary and Highlights 4 September

September 4, 2025 10:13 AM UTC

The USD was generally marginally firmer through the European morning, gaining around 0.1% against the EUR, JPY and AUD. GBP outperformed, rising 10 pips against the USD.