North American Summary and Highlights 2 April

02 April 2025 - 19:39

Overview - The USD was softer ahead of Trump’s tariff announcement. European USD/JPY slippage was reversed but EUR/USD and GBP/USD extended European gains in North America.

Europe Summary and Highlights 2 April

02 April 2025 - 10:08

The USD was generally lower through the European morning, with the JPY, GBP, AUD and NZD making the most pronounced gains.

Asia Summary and Highlights 2 April

02 April 2025 - 05:46

BoJ's Ueda says US tariffs likely to push up US inflation in near term

Asia Open - Overnight Highlights

02 April 2025 - 00:10

EMERGING ASIA
EM currencies perform mostly weaker against the USD despite the global market braces for the impact of Trump's latest tariff. The only winner is KRW by 0.05%; while the largest losers are THB 0.53%, followed by CNH 0.2%, CNY 0.18%, SGD 0.11%, TWD 0.03% and HKD 0.01%.
USD/CNH is trading h

North American Summary and Highlights 1 April

01 April 2025 - 19:48

Overview - The USD was generally little changed, but USD/CAD slipped with Trump’s Wednesday tariff announcement awaited. 

Europe Summary and Highlights 1 April

01 April 2025 - 10:17

The USD was generally slightly weaker through the European morning.

North American Summary and Highlights 31 March

31 March 2025 - 20:00

Overview - Equities recovered from early weakness leaving a firmer USD/JPY as the main story of a slow news day. 

Europe Summary and Highlights 31 March

31 March 2025 - 10:00

The USD made gains against the riskier currencies through the European morning.

Asia Summary and Highlights 28 March

31 March 2025 - 05:18

More tough talk from the tariff man

Asia Open - Overnight Highlights

31 March 2025 - 00:00

EMERGING ASIA
EM currencies perform individually against the USD despite the global market turmoil on tariff uncertainty fear. The biggest winners are INR by 0.38%, followed by PHP & TWD 0.01%; while the largest losers are KRW 0.3%, MYR 0.15%, SGD 0.13%, THB 0.11%, HKD 0.04% and CNH 0.03%.
USD/CNH is

North American Summary and Highlights 28 March

28 March 2025 - 19:50

Overview - The USD lost ground as UST yields fell with equities after US data warned of inflationary risk. 

Europe Summary and Highlights 28 March

28 March 2025 - 11:10

The EUR fell back in the European morning as European data came out on the soft side.

This week's five highlights

28 March 2025 - 10:00

Tariff man Strikes Auto
USD/JPY Rose on its Mark
Norges Bank's Policy Easing Delayed but Far From Abandoned
UK Inflation Slips Even as Services Fail to Soften
Bank of Canada March Minutes Debate over the 25bps easing

Asia Summary and Highlights 28 March

28 March 2025 - 05:18

Japan Tokyo February headline CPI +2.9% y/y 
China president Xi says US-China relations should stay stable, healthy

North American Summary and Highlights 27 March

27 March 2025 - 19:46

Overview - The USD advanced versus the JPY and CAD, but lost ground versus the EUR and GBP. 

Asia Summary and Highlights 27 March

27 March 2025 - 05:38

Trump's 25% auto tariff on foreign-made cars start on April 2nd
Trump has allowed a one-month tariff exemption for auto parts imports
Trump said he may reduce tariffs on China to help facilitate TikTok US operations sale

North American Summary and Highlights 26 March

26 March 2025 - 19:58

Overview - The USD had a firmer tone, with a Trump announcement on auto tariffs expected. 

Europe Summary and Highlights 26 March

26 March 2025 - 11:26

GBP fell back through the European morning after weaker than expected UK February CPI data.

Asia Summary and Highlights 26 March

26 March 2025 - 05:13

Australian February monthly CPI 2.4% y/y 
Japan February Services Producer Price Index +3% y/y

Asia Open - Overnight Highlights

26 March 2025 - 00:00

EMERGING ASIA
EM currencies perform individually against the USD as the global market seems to be cheering on potentially less tariff from the U.S.. The biggest winners are KRW by 0.41%, followed by SGD 0.19% and CNY 0.03%; while the largest losers are PHP 0.48%, IDR & THB 0.24%, INR & TWD 0.15%, CNH

North American Summary and Highlights 25 March

25 March 2025 - 19:59

Overview - The USD was generally weaker, but saw its lows before a fall in US consumer confidence. 

Europe Summary and Highlights 25 March

25 March 2025 - 11:18

The USD was generally weaker through the European morning. 

North American Summary and Highlights 24 March

24 March 2025 - 19:45

Overview - The USD was supported, particularly versus the JPY, as equities rallied on hopes Trump’s tariffs would be less aggressive than feared. 

Europe Summary and Highlights 24 March

24 March 2025 - 11:12

FX was fairly quiet through the European morning session.

Asia Summary and Highlights 24 March

24 March 2025 - 05:04

China is considering joining the potential peacekeeping mission for Ukraine
White House is narrowing its approach to April 2 tariffs set

Asia Open - Overnight Highlights

24 March 2025 - 00:00

EMERGING ASIA
EM currencies perform individually against the USD as the global market remains choppy around Trump's tariff policy changes. The biggest winners are INR by 0.46%, followed by KRW 0.14%, MYR 0.11% and TWD 0.04%; while the largest losers are THB 0.49%, PHP 0.18%, IDR 0.15%, SGD 0.09%, CNH

North American Summary and Highlights 21 March

21 March 2025 - 19:13

Overview - A generally quiet day saw the USD make some gains after Trump suggested there would be flexibility on tariffs. 

Europe Summary and Highlights 21 March

21 March 2025 - 11:11

A quiet European morning saw gains for the JPY, CHF and scandis, but little movement elsewhere.

This week's five highlights

21 March 2025 - 10:00

FOMC leaves rates unchanged
A Placeholder Meeting for BoJ
BoE Being Careful Amid Data Conflicts
Everything Unchanged for Riksbank 
SNB 25 bp Cut Likely To Last

Asia Summary and Highlights 21 March

21 March 2025 - 05:14

Japan February National Headline CPI 3.7% 

North American Summary and Highlights 20 March

20 March 2025 - 19:52

Overview - The USD was generally stronger in Europe but stabilized in North America. 

Europe Summary and Highlights 20 March

20 March 2025 - 11:16

The USD was generally stronger in a more risk negative market in Europe.

North American Summary and Highlights 19 March

19 March 2025 - 19:57

Overview -
The USD advanced into the FOMC decision but slipped back after. Rates and the median dots were left unchanged, but QT was scaled back and growth forecasts revised down, though inflation was seen higher in 2025.

Europe Summary and Highlights 19 March

19 March 2025 - 11:08

The USD gained some ground against the riskier currencies through the European morning, primarily due to concerns around developments in Turkey, where Turkish authorities have detained the mayor of Istanbul, one of Erdogan’s main rivals, on charges including corruption and aiding a terrorist group

Asia Summary and Highlights 19 March

19 March 2025 - 05:17

BoJ kept rates unchanged

Asia Open - Overnight Highlights

19 March 2025 - 00:00

EMERGING ASIA
EM currencies perform individually against the USD as the global market remains choppy. The biggest winners are INR by 0.27%, followed by THB 0.11%, TWD 0.04% and CNY 0.01%; while the largest losers are KRW 0.48, IDR 0.15%, SGD 0.03% and CNH & PHP 0.01%.
USD/CNH is trading higher at 7.22

North American Summary and Highlights 18 March

18 March 2025 - 19:28

Overview - The USD was mostly softer but edged higher against the commodity currencies as equities struggled. 

Europe Summary and Highlights 18 March

18 March 2025 - 11:05

The USD was mostly weaker through the European morning.

North American Summary and Highlights 17 March

17 March 2025 - 19:48

Overview - The USD was mostly softer though USD/JPY rebounded from early losses supported by UST yields.  

Europe Summary and Highlights 17 March

17 March 2025 - 11:28

The USD fell back across the board through the European morning, dropping around 0.25%.

Asia Summary and Highlights 17 March

17 March 2025 - 05:14

USD opened higher on Monday
US Treasury Secretary Bessent's comment not comforting
Zhejiang trade-in subsidy program offering up to 15,000 RMB for new electric vehicle (EV) purchases and 13,000 RMB for gasoline-powered cars
Shenzen announced eased housing finance rules

Asia Open - Overnight Highlights

17 March 2025 - 00:00

EMERGING ASIA
EM currencies perform mostly stronger against the USD as risk sentiment recovers on the last trading day of the week. The biggest winners are IDR by 0.46%, followed by THB 0.29%, PHP 0.18%, CNH & KRW 0.14%, SGD 0.13%, CNY 0.08% and TWD 0.02%; while the largest losers are MYR 0.22% and H