• On the data front, U.S. producer prices unexpectedly rose in August (0.1% MoM, 0.0% MoM expected, 0.2% MoM prior). However, a better-than-expected producer prices did not change market expectations that the Fed will cut interest rates again next Wednesday. Moreover, U.S. president Trump added more pressure on the Fed to push down interest rates into negative territory.
  • China announcement of tariff exemptions for 16 types of U.S. products, excluding pork and soybeans, had a limited impact on investors’ risk appetite.
  • The 10Y UST yield were steady, fluctuating in a narrow range. Meanwhile, European sovereign bond yields inched down modestly as investors foresee a delay of the quantitative easing. Italy led the Eurozone bond gains with its risk premium narrowing ahead of its debt sale tomorrow.
  • The USD appreciated against its G10 peers with the DXY index increasing by 0.4%. The euro led the losses across the G10 board (-0.4%) ahead of tomorrow’s ECB meeting where a 10 bps depo rate cut is expected. Elsewhere, the BRL gained (+0.5%) despite the fact that LatAm currencies weakened across the board.
  • Concerns over the global oil demand weighted on oil prices, erasing early gains (-0.1%), whereas gold prices inched up by 0.7%. U.S. and European equities rose modestly, while the Hong Kong Hang Seng index increased significantly (+1.8%).

Download The Full market Comment

En ningún caso BBVA será responsable de las pérdidas, daños o perjuicios de cualquier tipo que surjan por acceder y usar el website, incluyéndose, pero no limitándose, a los producidos en los sistemas informáticos o los provocados por la introducción de virus y/o ataques informáticos. BBVA tampoco será responsable de los daños que pudieran sufrir los usuarios por un uso inadecuado de este website y, en modo alguno, de las caídas, interrupciones, ausencia o defecto en las telecomunicaciones.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex Analysis

Editors’ Picks

USD/JPY extends the drop below 107.50 on upbeat Japan data dump, risk-off

USD/JPY extends the pullback below 107.50, as the yen continues to draw bids from the risk-off market profile amid US-China tensions and upbeat Japanese data dump. Focus shifts to the US data and President Trump's response to the Hong Kong issue. 


AUD/USD: Choppy within range below 0.6650 amid US-China risks

AUD/USD remains depressed around 0.6640 so far this Friday. Risk-tone remains heavy as global equities are weighed down by escalating US-China tensions over the Hong Kong security issue, with all eyes now on Trump's presser. 


COVID-19 update: Second wave alert, markets on standby

An increase of 100% in new cases since the prior day in Spain's COVID-19 jumping above 1,100. Risk-off themes doubling up as well, with US President Donald Trump holding a news conference on China this Friday.

Read more

Gold picks up a bid amid losses in the US stock futures

Gold, a traditional safe-haven asset, is drawing bids as the US stock futures are signaling risk aversion. China imposed the controversial national security bill on Hong Kong on Thursday. Markets fear the US would retaliate with sanctions on China.

Gold News

WTI eyes record monthly surge

While West Texas Intermediate (WTI) crude's front-month contract has backed off from the 2.5-month highs reached earlier this week due to deteriorating US-China tensions, it is still on track to post its biggest monthly gain on record. 

Oil News

Forex Majors