FX Highlights

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July 02, 2025

Asia Open - Overnight Highlights
Paying Article

July 2, 2025 12:00 AM UTC

EMERGING ASIA
EM currencies are trading individually against the greenback as the USD chopped higher on Trump's policy uncertainty in early Asia before retracing all gains and dipped into negativity in later sessions. The largest winners are TWD 1.43%, followed by MYR 0.33%, INR & IDR 0.25% and THB 0

July 01, 2025

North American Summary and Highlights 1 Jul
Freemium Article

July 1, 2025 7:56 PM UTC

Overview - The USD slipped in Europe though reversed its losses in North America, supported by stronger job openings. 

Europe Summary and Highlights 1 July
Paying Article

July 1, 2025 10:14 AM UTC

The USD weakened across the board through the European morning, with the JPY and CHF the best performers, both gaining around 0.5%, while riskier currencies were generally up around 0.3%, although the NOK matched CHF and JPY gains, and the SEK also slightly outperformed the EUR.

Asia Summary and Highlights 1 July
Paying Article

July 1, 2025 5:18 AM UTC

The Q2 BoJ Tankan Index shows business resilience 

June 30, 2025

North American Summary and Highlights 30 Jun
Freemium Article

June 30, 2025 7:50 PM UTC

Overview - The USD weakened in North America after being little changed in the European morning. 

Europe Summary and Highlights 30 June
Paying Article

June 30, 2025 10:03 AM UTC

EUR/USD was not much changed but USD/JPY was slightly higher, gaining 20 pips to 144.20, and USD/CHF slightly lower, falling 15 pips to 0.7970. 

Asia Summary and Highlights 30 Jun
Paying Article

June 30, 2025 5:01 AM UTC

Canada rescinds Digital Services Tax to advance broader trade negotiations with the US
Trump whining about unfair auto trade, wants Japan to buy more oil

Asia Open - Overnight Highlights
Paying Article

June 30, 2025 12:38 AM UTC

EMERGING ASIA
EM currencies are trading individually against the greenback as the USD chopped higher on Trump's policy uncertainty, especially with Canada. The largest winners are INR 0.26%, followed by PHP 0.08%; while the biggest losers are KRW 0.59%, THB 0.44%, SGD 0.14%, CNH 0.12%, CNY 0.07% and

June 27, 2025

North American Summary and Highlights 27 Jun
Freemium Article

June 27, 2025 8:07 PM UTC

Overview - The USD was slightly firmer, most notably versus the CAD after Trump broke of trade negotiations with Canada. 

Europe Summary and Highlights 27 June
Paying Article

June 27, 2025 10:16 AM UTC

EUR/USD gained 20 pips to 1.1710 in the European morning, while the CHF and scandis made even larger gains, with EUR/CHF and EUR/NOK dropping around 0.25%, and EUR/SEK down 0.5%. 

This week's five highlights
Freemium Article

June 27, 2025 10:00 AM UTC

The Fragile Ceasefire Between Iran and Israel
Ukraine War Continuing Probability is Now at 70%
This Week's Slate of Fed Speakers
Seems to be tilted dovish
And Could Pressure the DXY

Asia Summary and Highlights 27 Jun
Paying Article

June 27, 2025 5:46 AM UTC

Japan Tokyo Headline CPI 3.1%y/y

June 26, 2025

North American Summary and Highlights 26 Jun
Freemium Article

June 26, 2025 7:51 PM UTC

Overview - The USD was softer in both Europe and North America, with eyes on the Fed more than mixed US data. 

Europe Summary and Highlights 26 June
Paying Article

June 26, 2025 10:11 AM UTC

The USD weakened in the European morning falling around 0.5% against the EUR and JPY and 0.25% against the AUD and CAD.

Asia Summary and Highlights 26 Jun
Paying Article

June 26, 2025 5:24 AM UTC

Reuters reported that the US is allowing ethane to be loaded and shipped to China
Wall Street Journal reported Trump considers naming next Fed chair early

June 25, 2025

North American Summary and Highlights 25 Jun
Freemium Article

June 25, 2025 7:39 PM UTC

Overview - The USD advanced in Europe, USD/JPY leading, but fell back in North America, EUR/USD leading. 

Europe Summary and Highlights 25 June
Paying Article

June 25, 2025 10:17 AM UTC

The USD was firmer through the European morning, primarily against the JPY, with USD/JPY rising 50 pips to 145.65. 

Asia Summary and Highlights 25 Jun
Paying Article

June 25, 2025 6:01 AM UTC

BOJ’s Tamura warns decisive rate hike may be needed
Australia CPI dropped to 2.1% in May

Asia Open - Overnight Highlights
Paying Article

June 25, 2025 12:00 AM UTC

EMERGING ASIA
EM currencies are trading mostly stronger against the greenback as the USD trades lower on global optimism of the ceasefire between Israel and Iran. The largest winners are KRW 1.7%, followed by MYR 1.06%, THB 1.02%, INR 0.9%, IDR 0.83%, PHP 0.8%, TWD 0.7%, SGD 0.38%, CNH by 0.13% and C

June 24, 2025

North American Summary and Highlights 24 Jun
Freemium Article

June 24, 2025 7:39 PM UTC

Overview - The USD consolidated in Europe before seeing renewed slippage in North America as Powell’s testimony, while cautious over easing, sustained hopes for lower rates should inflation avoid an expected acceleration on tariffs. 

Europe Summary and Highlights 24 June
Paying Article

June 24, 2025 9:53 AM UTC

The USD sell off in Asia with the decline in oil prices and reduction in global risk, has not followed through in Europe with the USD consolidating.

Asia Summary and Highlights 24 Jun
Paying Article

June 24, 2025 5:33 AM UTC

Ceasefire between U.S. and Iran

June 23, 2025

North American Summary and Highlights 23 Jun
Freemium Article

June 23, 2025 7:37 PM UTC

Overview - The USD advanced in Europe but reversed in North America on dovish comments from Fed’s Bowman. 

Europe Summary and Highlights 23 June
Paying Article

June 23, 2025 10:06 AM UTC

The USD made general gains through the European morning, rising around 0.3-0.4% against the EUR, JPY and most of the other G10 currencies, but the CHF outperformed with USD/CHF little changed. 

Asia Summary and Highlights 23 Jun
Paying Article

June 23, 2025 5:55 AM UTC

Major equity indexes opened lower
U.S. strike Iran nuclear site over the weekend

June 20, 2025

North American Summary and Highlights 20 Jun
Freemium Article

June 20, 2025 7:28 PM UTC

Overview - Friday saw a sharp rise in EUR/JPY as USD/JPY and EUR/USD both advanced.  

This week's five highlights
Freemium Article

June 20, 2025 10:00 AM UTC

Fed Hold Then Cautious Easing
Labour Market Softness Triggers a Dovish BoE Hold 
SNB Cut to Zero, But Negative Rates an Option
Norges Bank Coming (Very) Late to the Party
Riksbank Cuts and Flags Possible Further Move

Asia Summary and Highlights 20 Jun
Paying Article

June 20, 2025 5:44 AM UTC

The broader risk sentiment is more positive
Trump may give Iran’s supreme leader one last chance to give up nuclear

Asia Open - Overnight Highlights
Paying Article

June 20, 2025 12:00 AM UTC

EMERGING ASIA
EM currencies are trading mostly weaker against the greenback as the USD gains on higher geopolitical tension between Iran and Israel. The largest losers are PHP 0.87%, followed by IDR 0.58%, KRW 0.51%, THB 0.44%, INR 0.30%, TWD 0.29%, MYR 0.21%, SGD 0.16%; while the biggest winner is C

June 19, 2025

Europe Summary and Highlights 19 June
Paying Article

June 19, 2025 10:21 AM UTC

EUR/USD and USD/JPY both rose around 20 pips in the European morning, to 145.35 and 1.1475 respectively. Normally, this would reflect some improvement in risk sentiment, but most markets were fairly steady on this US holiday.

Asia Summary and Highlights 19 Jun
Paying Article

June 19, 2025 4:40 AM UTC

Australia May unemployment rate 4.1%

June 18, 2025

North American Summary and Highlights 18 Jun
Freemium Article

June 18, 2025 7:56 PM UTC

Overview - The USD saw a modest reaction to the FOMC announcement, but ended firmer after Chairman Powell’s press conference. 

Europe Summary and Highlights 18 June
Paying Article

June 18, 2025 10:32 AM UTC

EUR/USD and USD/JPY were both unchanged through the European morning, but there were some gains for GBP and some losses for the SEK after UK CPI and the Riksbank rate cut respectively.

Asia Summary and Highlights 18 Jun
Freemium Article

June 18, 2025 5:14 AM UTC

The broad equity market remains choppy on geopolitical tension

Asia Open - Overnight Highlights
Paying Article

June 18, 2025 12:00 AM UTC

EMERGING ASIA
EM currencies are trading mostly weaker against the greenback as the USD gains on higher geopolitical tension between Iran and Israel. The largest losers are KRW 1.01%, followed by SGD 0.49%, PHP 0.47%, THB 0.29%, INR 0.21%, CNH 0.13%, IDR and CNY 0.09%, MYR and TWD 0.05%.
USD/CNH is tra

June 17, 2025

North American Summary and Highlights 17 Jun
Freemium Article

June 17, 2025 7:54 PM UTC

Overview - The USD saw broad based gains on Middle East risks, despite weak US economic data. 

Europe Summary and Highlights 17 June
Paying Article

June 17, 2025 10:56 AM UTC

A generally quiet European morning saw little change in most FX pairs. 

Asia Summary and Highlights 17 Jun
Paying Article

June 17, 2025 5:41 AM UTC

BoJ keep rates unchanged as expected
Trump is proposing talks with Iran this week on nuclear deal, ceasefire

June 16, 2025

North American Summary and Highlights 16 Jun
Freemium Article

June 16, 2025 7:48 PM UTC

Overview - The USD advanced versus the JPY but was weaker versus the riskier currencies as hopes built for an end to the conflict between Israel and Iran. Equities and UST yields advanced while oil slipped.

Europe Summary and Highlights 16 June
Paying Article

June 16, 2025 10:05 AM UTC

The USD was mixed through the European morning, gaining modestly against the safer havens but losing ground to the riskier currencies.

Asia Summary and Highlights 16 Jun
Paying Article

June 16, 2025 5:29 AM UTC

Geopolitical tension persists

Asia Open - Overnight Highlights
Paying Article

June 16, 2025 12:47 AM UTC

EMERGING ASIA
EM currencies are trading mostly weaker against the greenback as the USD gains on higher geopolitical tension between Iran and Israel. The only winner is THB by 0.09%; the largest losers are INR 0.57%, followed by MYR 0.56%, KRW & PHP 0.51%, IDR 0.37%, SGD 0.27%, CNH 0.22%, CNY 0.15%.
US

June 13, 2025

North American Summary and Highlights 13 Jun
Freemium Article

June 13, 2025 7:56 PM UTC

Overview - North America saw the USD correct from gains in Asia and North America, though the correction lost momentum after an Iranian retaliatory attack on Israel. 

This week's five highlights
Freemium Article

June 13, 2025 10:00 AM UTC

Israel Strikes Iran Nuclear Facilities and Key Target
China and July 9 U.S. Reciprocal Tariff Deadline
U.S. May CPI Shows Little tariff pass-through
Soft U.S. May PPI but recent revisions have been large
UK GDP Overstating Activity

Asia Summary and Highlights 13 Jun
Paying Article

June 13, 2025 4:17 AM UTC

Israel begun "pre-emptive strike"
Iran looks set to retaliate 

Asia Open - Overnight Highlights
Paying Article

June 13, 2025 12:00 AM UTC

EMERGING ASIA
EM currencies are trading mostly stronger against the greenback as the USD slides on weaker than expected U.S. data. The biggest winner is KRW by 0.94%, followed by TWD 0.9%, THB 0.54%, SGD 0.45%, MYR and CNH 0.35%, CNY0.25% and IDR 0.15%; the biggest loser is INR by 0.1%.
USD/CNH is tra

June 12, 2025

North American Summary and Highlights 12 Jun
Freemium Article

June 12, 2025 7:20 PM UTC

Overview - The USD was softer, particularly versus the EUR, with most of the move coming before weak US PPI and initial claims data. 

Asia Summary and Highlights 11 Jun
Paying Article

June 12, 2025 5:42 AM UTC

Geopolitical tension resurfaces

June 11, 2025

North American Summary and Highlights 11 Jun
Freemium Article

June 11, 2025 7:54 PM UTC

Overview - The USD was softer after a weak US CPI, though less so against riskier currencies as equities struggled. 

Asia Summary and Highlights 11 Jun
Freemium Article

June 11, 2025 5:24 AM UTC

US - China has a "handshake for a framework"