Currencies trade relatively muted as we start the new week

August 26, 2024
-FCHFX

August 26, 2024 at 04:10AM
Currencies have traded in tight ranges as we get the new week underway without any meaningful fundamental catalysts behind today’s moves.

The JPY (white) is in the lead this morning. Some are attributing the JPY’s Asia-Pac strength to the difference in tone on Friday between Gov Ueda and Chair Powell. The is second strongest on the session so far.

The AUD and NZD (high betas) are the weakest on the session, with eyes of the AUD firmly set on this week’s inflation data where markets are expecting a decent deceleration in the Weighted CPI YY measure from 3.8% (prior) to 3.4%.

We have the German Ifo data coming up a bit later which provide some volatility for the EUR (doubtful though).

This article was written by Arno V Venter at www.forexlive.com.

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