NBC Economics and Strategy report that U.S. nominal personal income rose 0.4% in July, double expectations, while spending increased 0.2% and real disposable income climbed 0.4% with flat real spending.
TD Cowen’s Washington Strategy team, led by Chris Krueger, notes that a durable rebound in the Dollar hinges on stronger US policy follow-through and renewed upside surprises in US data.
Silver price (XAG/USD) extends its losses for the second successive day, trading around $66.10 per troy ounce during the Asian hours on Monday. The non-yielding Silver declined following hawkish remarks from Federal Reserve (Fed) Chair Kevin Warsh.
The AUD/NZD cross turns positive for the fourth straight day following an intraday fall to the 1.2065 area and climbs to a fresh high since July 9 during the Asian session on Monday.
The USD/CAD pair edges lower to around 1.3890 during the Asian trading hours on Monday. Renewed tensions between the US and Iran boost crude oil prices, supporting the commodity-linked Canadian Dollar (CAD) against the US Dollar (USD).
The GBP/USD pair edges higher at the start of a new week, reversing a part of Friday's heavy losses to over a one-week trough.
NZD/USD remains subdued for the second successive day, trading around 0.5910 during the Asian hours on Monday. However, the NZD/USD pair pares some of its daily losses as the New Zealand Dollar receives minor support following the release of China's NBS Purchasing Managers' Index (PMI) data.
Gold price (XAU/USD) attracts some sellers to near $4,445 during the early Asian trading hours on Monday. The precious metal edges lower on a surprisingly hawkish speech by Federal Reserve (Fed) Chairman Kevin Warsh at the Jackson Hole economic symposium.
AUD/USD edges higher after opening at a bearish gap, remaining in the negative territory and trading around 0.7160 during the Asian hours on Monday.
China’s Manufacturing Purchasing Managers' Index (PMI) rose to 49.8 in August, compared to 49.2 in the previous reading, China’s National Bureau of Statistics (NBS) reported on Monday. The reading came in above the market consensus of 49.7 in the reported month.
The USD/JPY pair kicks off the new week on a subdued note and trades around the 160.00 psychological mark during the Asian session, just below a one-month high, touched on Friday.
On Monday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7828 compared to Friday's fix of 6.7811 and 6.7344 Reuters estimate.
West Texas Intermediate (WTI) declines after opening at a bullish gap, remaining in positive territory and trading around $83.60 per barrel during the Asian hours on Monday.
The EUR/USD pair gathers strength to around 1.1590 during the early Asian trading hours on Monday. The US Dollar (USD) edges lower against the Euro (EUR) despite hawkish remarks from Federal Reserve (Fed) Chair Kevin Warsh.
US Treasury Secretary Scott Bessent said on Sunday recent Japanese Yen (JPY) moves were "pretty well contained," suggesting the Japanese currency's renewed weakness were not seen as the kind of disorderly moves that led to a rare joint Japan-US intervention last month, Reuters reported.
The AUD/USD pair loses traction to near 0.7160 during the early Asian session on Monday.
US Central Command (CENTCOM) struck Iranian rocket launchers that were preparing to send mines into the Strait of Hormuz, following weeks of relative calm, Bloomberg reported on Sunday.
Commerzbank’s Charlie Lay reports that the Bank of Korea (BoK) delivered a second consecutive 25 bp hike to 3.0% and kept a tightening bias, supporting KRW after its sharp appreciation since June.
DBS Group strategists Taimur Baig and Nathan Chow forecast Vietnam’s goods exports to maintain strong double-digit growth at 27% year-on-year in August 2026, led by electronics and supported by external demand.
Commerzbank’s Charlie Lay reports the Bank of Korea has delivered back-to-back 25bp hikes to 3.0%, front-loading tightening as growth and core inflation forecasts rise. The bank signals one more hike over six months but may pause to assess effects.
DBS Group Research economists Radhika Rao and Chua Han Teng note that Bangko Sentral ng Pilipinas (BSP) raised its policy rate by 25 bps to 5.0% to anchor inflation expectations and support the Peso.
ING’s Chris Turner reports that the Korean Won (KRW) continues to advance, driven by back-to-back Bank of Korea (BoK) rate hikes to 3.00% and a Dot Plot pointing to 3.25% in six months.
DBS Group strategists Taimur Baig and Nathan Chow expect Bank Negara Malaysia (BNM) to keep its Overnight Policy Rate unchanged at 2.75% on September 3, maintaining the stance adopted after its July 2025 insurance cut.
The Mexican Peso (MXN) depreciates against the US Dollar (USD) on Friday, down by over 0.42% on hawkish remarks by Federal Reserve (Fed) Chair Kevin Warsh at the Jackson Hole Symposium. This prompted investors to price in a potential rate hike in 2026, a tailwind for the Greenback.
Commerzbank’s Volkmar Baur challenges recent internal analysis on CNY undervaluation and exports, arguing that China’s exchange-rate management and gold purchases point to deliberate weakening.
DBS Group strategists Taimur Baig and Nathan Chow expect South Korea’s August exports to stay strong near 60% year-on-year, underpinning the outlook for the KOSPI and Korean Won (KRW) even as growth moderates from June’s peak.
Bank of England (BoE) Governor Andrew Bailey said on Friday that he doesn’t see significant second-round inflation effects in the UK, in an interview with Bloomberg TV at the Jackson Hole Symposium.
Martin Kocher, Governor of the Austrian National Bank and a member of the European Central Bank (ECB), said in an interview with Bloomberg that Europe’s economy shows more momentum.
Chicago Federal Reserve (Fed) President Austan Goolsbee commented in a CNBC interview at the Jackson Hole Symposium on Friday that he agreed with Fed Chair Kevin Warsh about the details of the economy, adding that “inflation is the Fed’s main issue right now.”
Gold (XAU/USD) prices extend losses to over 2.50% on Friday as market participants digest hawkish comments from Federal Reserve (Fed) Chair Kevin Warsh at Jackson Hole. Rising US Treasury yields and overall US Dollar strength are the two drivers of the sudden weakness in precious metals.
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