USD

US August PCE core +2.9% y/y vs +2.9% expected

• Highlights of the US August 2025 PCE report

The USD is little changed after the run higher last week. Market awaits key PCE data

• What are the key technical levels driving the EURUSD, USDJPY and GBPUSD in trading today

USDCAD invalidates the bearish setup: what's the next target for the pair?

• The USDCAD pair rallied strongly from the 1.3730 support as the bearish positioning in the US dollar continues to unwind on strong US data. What's next?

GBPUSD falls into a key swing level: more downside ahead or a reversal is in the cards?

• The GBPUSD pair erased all September gains as the US dollar came back with a vengence following strong US data releases. What's next for the pair?

All eyes turn to the US PCE price inflation to wrap up the week

• Will this change anything on the Fed outlook?

Barclays says dollar resilience to persist as U.S. economy rebounds

• Barclays says the dollar has held firm despite bearish shocks, stabilising after earlier weakness. The bank sees U.S. economic resilience keeping the currency supported but warns Fed independence concerns pose a risk.

ICYMI: Trump expands tariffs, new import duties starting Oct. 1: trucks, furniture, pharma

• Pharmaceuticals are exempt if makers invest in U.S. plants.

JP Morgan highlights unprecedented U.S. split: capex surges, jobs stall: "Odd Decouple"

• JP Morgan flagged an unprecedented “decouple” in the U.S. economy, with capital spending surging even as job growth slows. The bank said this split, unseen in over 60 years, reflects competing risks: AI-driven productivity gains versus tariff drag and weak hiring.

Trump to hit branded or patented pharma with 100% tariffs

• Trump to hit branded pharma with 100% tariffs ... don't get sick now y'all!

Trump now slamming kitchens with 50% tariffs! Furniture also 30%

• "We will be imposing a 50% Tariff on all Kitchen Cabinets, Bathroom Vanities, and associated products, starting October 1st, 2025. Additionally, we will be charging a 30% Tariff on Upholstered Furniture."

Trump is slamming trucks with another massive tariff, 25% from October 1

• Trump: I will be imposing, as of October 1st, 2025, a 25% tariff on all “heavy (big!) trucks” made in other parts of world

Goldman Sachs lifts MSCI EM target, sees EMFX outperform G10

• Goldman Sachs has raised its MSCI EM Index 12-month target to 1,480 and expects EMFX to outperform G10 currencies, citing favorable carry, resilient growth, and strong capital flows. The bank sees a supportive environment for emerging markets into year-end.

U.S. Treasury auctions off $44 billion of 7 year notes at a high yield of 3.953%

• WI level at the time of the auction 3.947%

30 year fixed rate mortgage rate rises to 6.3% from 6.26% last week

Ken Griffin: For corporate America, the weaker dollar is a real tailwind

• The Citadel billionaire founder speaks on CNBC