North American Summary and Highlights 7 Nov

November 7, 2025 8:38 PM UTC

Overview - USD/CAD fell on strong Canadian employment data. A weak Michigan CSI provided some weight on the USD but was offset as equites saw a late recovery on hopes for an end to the government shutdown.  

Europe Summary and Highlights 7 November

November 7, 2025 11:16 AM UTC

The USD moved slightly lower through a quiet European morning session.

This week's five highlights

November 7, 2025 10:00 AM UTC

Fiscal Elephant in the Room Ignored by BOE
RBA's Hawkish tilt
Norges Bank Ready For December Cut?
Riksbank Board Sticks to it Plans
Canada Budget Sees Larger Deficits, Slower Growth

Asia Summary and Highlights 7 Nov

November 7, 2025 5:38 AM UTC

Japanese September household spending +1.8% y/y
U.S. blocks Nvidia’s scaled-down AI chip sales to China

North American Summary and Highlights 6 Nov

November 6, 2025 8:52 PM UTC

Overview - US labor market concerns weighed on the USD and equities. The latter weighed on the commodity currencies.  

Europe Summary and Highlights 6 November

November 6, 2025 11:07 AM UTC

The USD saw some modest losses against GBP and the JPY through the European morning, with the scandis also making gains, while most other pairs were little changed.

North American Summary and Highlights 5 Nov

November 5, 2025 8:45 PM UTC

Overview - The USD made modest gains in Europe and US data was stronger than expected, which lifted USD/JPY and risk appetite.  

Europe Summary and Highlights 5 November

November 5, 2025 11:06 AM UTC

The USD made some very modest gains through the European morning, edging less than 0.1% higher against most currencies. 

North American Summary and Highlights 4 Nov

November 4, 2025 8:52 PM UTC

Overview - Weak equities meant risk off trade with GBP particularly weak on fiscal policy concerns. 

Asia Summary and Highlights 4 Nov

November 4, 2025 5:36 AM UTC

RBA hold as expected

North American Summary and Highlights 3 Nov

November 3, 2025 8:52 PM UTC

Overview - The USD slipped after weaker ISM manufacturing data but was mostly little changed. The CHF was weaker after a soft Swiss CPI. 

Europe Summary and Highlights 3 November

November 3, 2025 11:18 AM UTC

The EUR fell back in the European morning, dropping 25 pips to 1.1515 after failing a test of the 1.1540 resistance area in late Asia.

North American Summary and Highlights 31 Oct

October 31, 2025 6:56 PM UTC

Overview - The USD was slightly stronger, most notably versus the EUR. 

This week's five highlights

October 31, 2025 11:55 AM UTC

U.S-China Trade Tensions Ease, US-Canada Tensions Escalate
FOMC eases by 25bps, to conclude quantitative tightening on December 1
Bank of Canada Hawkish Ease with Current Rate Level Seen as Appropriate
7-2 Hold for BoJ
ECB Hedging its Bets

Europe Summary and Highlights 31 October

October 31, 2025 11:12 AM UTC

The USD was generally not much changed through a quiet European morning.

Asia Summary and Highlights 31 Oct

October 31, 2025 4:43 AM UTC

Tokyo October Headline CPI 2.8% y/y

North American Summary and Highlights 30 Oct

October 30, 2025 7:31 PM UTC

Overview - The USD was generally firmer, but lost momentum after the ECB was slightly more upbeat while leaving policy unchanged. 

Europe Summary and Highlights 30 October

October 30, 2025 11:15 AM UTC

The JPY continued to weaken through the European morning, extending overnight losses following the Fed and BoJ decisions, with USD/JPY gaining around half a figure to 153.95.

North American Summary and Highlights 29 Oct

October 29, 2025 8:13 PM UTC

Overview - After slipping ahead of the FOMC decision, a comment from Chairman Powell in the press conference that a December easing was far from assured saw the USD finishing firmer. 

Europe Summary and Highlights 29 October

October 29, 2025 11:16 AM UTC

GBP fell back against then EUR in the European morning session, with EUR/GBP extending yesterday’s gains to make another new high for the year at 0.8814, the highest since May 2023. GBP/USD was also 15 pips lower on the morning, while EUR/USD gained 15 pips to 1.1645.

North American Summary and Highlights 28 Oct

October 28, 2025 7:19 PM UTC

Overview - USD trade was subdued but GBP saw slippage while AUD and CAD advanced. 

Europe Summary and Highlights 28 October

October 28, 2025 11:12 AM UTC

The USD was marginally softer in a quiet European morning session.

North American Summary and Highlights 27 Oct

October 27, 2025 7:39 PM UTC

Overview - The USD saw some slippage in Europe before recovering in the North American morning, before a late move lower. 

Europe Summary and Highlights 27 October

October 27, 2025 11:12 AM UTC

The USD was generally softer through the European morning, with EUR/USD gaining 15 pips to 1.1640, and USD/JPY down 25 pips to 152.75. 

Asia Summary and Highlights 27 Oct

October 27, 2025 5:15 AM UTC

Japan's CS Kihara says important that currencies move in stable manner, reflect fundamentals

Asia Open - Overnight Highlights

October 27, 2025 2:00 AM UTC

EMERGING ASIA
EM currencies are trading individually against the greenback as market participants remain cautious over the weekend as Trump heads to Asia. The biggest losers are KRW 0.13%, followed by SGD 0.03%, PHP 0.02%, CNH 0.01%; while the biggest winners are THB 0.31%, IDR 0.15%, MYR 0.10%,  HK

North American Summary and Highlights 24 Oct

October 24, 2025 7:50 PM UTC

Overview - The USD fell on a weaker than expected US CPI, but erased most of its losses in subsequent trade. 

This week's five highlights

October 24, 2025 12:00 PM UTC

When And How Will the U.S. Government Shutdown End
U.S.-Canada's Fragile Relationship
Firm but a little less so in core rate for U.S. September CPI
A Final and Lower Than Expected UK CPI
New Japan PM Elected

Europe Summary and Highlights 24 October

October 24, 2025 10:20 AM UTC

The USD was generally not much changed through the European morning, but EUR/USD did manage gains of around 15 pips helped by stronger than expected preliminary October PMI data. Eurozone composite PMI rose to 52.2, its highest since May 2023, driven primarily by a sharp rise in the German services

Asia Summary and Highlights 24 Oct

October 24, 2025 5:26 AM UTC

Japan September headline inflation 2.9% y/y

North American Summary and Highlights 23 Oct

October 23, 2025 7:40 PM UTC

Overview -
The USD was mostly little changed but slipped versus EUR and CHF in North America.

Europe Summary and Highlights 23 October

October 23, 2025 12:05 PM UTC

AUD/USD gained 20 pips to 0.6510, USD/JPY rose 20 pips to 152.60, EUR/NOK fell 4 figures to 111.58 and EUR/GBP lost 10 pips to 0.8685 in the European morning.

North American Summary and Highlights 22 Oct

October 22, 2025 7:31 PM UTC

Overview - GBP slipped after a softer than expected UK CPI but the USD was not much changed, slipping in North America after gains in Europe. 

Europe Summary and Highlights 22 October

October 22, 2025 10:19 AM UTC

GBP was the biggest mover on the morning, with EUR/GBP rising 30 pips to 0.8710 on the back of a weaker than expected UK September CPI number, which showed the headline inflation rate unchanged at 3.8% and the core dropping to 3.5% from 3.6%. UK 2 year yields dropped 10bps on the news.

Asia Summary and Highlights 22 Oct

October 22, 2025 8:06 AM UTC

The September Japan trade balance missed estimate on stronger import

Asia Open - Overnight Highlights

October 22, 2025 12:00 AM UTC

EMERGING ASIA
EM currencies are trading mostly weaker against the greenback as USD gained strongly on trade uncertainty and sharp reversal in commodity. The biggest losers are KRW 0.83%, followed by SGD 0.33%, THB 0.18%, TWD 0.15%, PHP 0.11%, IDR 0.09%, MYR 0.08% and CNY & CNH & HKD 0.04%.
USD/CNH is

North American Summary and Highlights 21 Oct

October 21, 2025 7:49 PM UTC

Overview - USD/JPY continued to advance in Europe. North American trade was subdued outside a fall in USD/CAD after a stronger than expected Canadian CPI. 

Europe Summary and Highlights 21 October

October 21, 2025 10:40 AM UTC

USD/JPY was the main mover in the European morning, gaining to 151.80 in a choppy session.

North American Summary and Highlights 20 Oct

October 20, 2025 7:52 PM UTC

Overview - In a quiet day the USD was mostly slightly firmer. 

Europe Summary and Highlights 20 October

October 20, 2025 10:15 AM UTC

The USD was generally slightly firmer against the riskier currencies through the European morning, with EUR/USD dropping 15 pips to 1.1660 and AUD/USD down around 10 pips to 0.6495.