August 2026

Daily Market Report 08/06/2026 EUR/USD ranged in the low to mid 1.15s overnight. EUR/USD is turning south toward 1.1500 in the European session on Thursday, pressured by a modest US Dollar rebound. Markets stay wary about the prospects of a US-Iran peace deal and the reopening of the Strait of Hormuz, keeping the safe-haven USD underpinned. The focus is now on the US Jobless Claims data, following weak Eurozone Retail Sales report. On Wednesday, the ADP reported the fresh addition of 44K payrolls in the private sector in July, lower than estimates of 70K and the prior release of 98K. For more cues regarding the US labor market, investors await the Nonfarm Payrolls (NFP) data for July, which will be released on Friday. According to TD Securities, July’s jobs report is expected to show only a slight improvement after June’s downside surprise. The bank’s economists look for “July NFP [to have] picked up modestly to 70k after surprising to the downside with 57k in June,” and judge that “risks to our payrolls forecast appear balanced.” They also anticipate that the unemployment rate will show little change, with “the UE rate likely [having] went sideways at 4.2% after declining in June,” reinforcing their view of a broadly stable labor market backdrop. GBP/USD drifts lower to near 1.3460 in European trading on Thursday. Strategists at Scotiabank highlight a quiet near-term macro backdrop for the Pound, noting that “the release calendar is limited over the next week or so with no major data scheduled ahead of the preliminary Q2 GDP print on August 13.” This leaves the upcoming growth figures as the key domestic catalyst for GBP/USD, with investors likely to treat the data vacuum as a period of consolidation before reassessing the UK outlook once the GDP numbers are in hand. USD/JPY trades at around157.83, keeping a bearish near-term tone as spot remains below the 20-day exponential moving average (EMA) at 160.55. The pair has retreated from recent highs, and the EMA overhead suggests prices are still capped despite the latest bounce attempt, pointing to a market that is correcting rather than trending higher. Source: FX Street

Daily Market Report 08/5/2026 EUR/USD ranged in the low to mid 1.15s overnight. The Greenback may face challenges due to easing safe-haven demand amid building diplomatic momentum around a potential agreement to reopen the Strait of Hormuz. Qatari officials announced on Tuesday that an interim proposal had been drafted, with both Washington and Tehran signaling tangible progress toward restoring access to the critical maritime transit route. This diplomatic breakthrough follows US President Donald Trump’s decision to suspend planned military strikes against Iran, choosing instead to give negotiations space while maintaining his call for the immediate reopening of the waterway. EUR/USD holds ground near 1.1550 in the early European hours on Wednesday. The pair stays supported amid hopes for a US-Iran deal on the reopening of the Strait of Hormuz, which lifts risk sentiment and keeps the safe-haven US Dollar on the back foot. The US ADP Employment data and ISM Services PMI report are in the spotlight alongside Mideast headlines. The US Bureau of Labor Statistics revealed on Tuesday that US JOLTS Job Openings stood at 7.359 million in June. This figure followed the 7.537 million openings seen in May and came in below the market expectation of 7.4 million. Traders will closely monitor the US July employment data on Friday, which could offer more clues about the health of the labor market and the US interest rate path. In case of weaker-than-expected outcomes, this could undermine the USD against the EUR in the near term. GBP/USD is inching higher above 1.3450 in European trading on Wednesday, helped by reduced haven appeal for the US Dollar as markets cheer a potential US-Iran deal on the Strait of Hormuz reopening. The decision is due later in the day. Traders also look forward to the US ADP and ISM Services PMI data. The Japanese Yen gives back its early gains and flattens at around 157.70 against the US Dollar during the European trading session. The USD/JPY bounces back as the Asia-Pacific currency faces pressure, with investors turning cautious regarding the sustainability of its recent strength. Source: FX Street

Daily Market Report 08/04/2026 EUR/USD ranged in the low 1.15s overnight. EUR/USD holds steady around 1.1505 in European trading hours on Tuesday. Markets remain cautious ahead of a slew of US jobs data, starting with the JOLTS Job Openings Survey later today. However, the downside appears capped by hot Eurozone inflation in July, bolstering the case for a European Central Bank rate hike at the next meeting. The core Eurozone inflation accelerated to 2.5% YoY in July versus 2.4% prior, above the consensus of 2.4%. Financial markets are betting on more than two ECB rate hikes, with moves fully priced in by October and April, according to Reuters. The US employment data will be the highlight later on Friday, which could offer some hints about the health of the labor market and US interest rate path. Economists expect Nonfarm Payrolls (NFP) to increase by 83,000 in July, while the Unemployment Rate is projected to rise to 4.3% during the same period. In case of stronger-than-expected outcomes, this could lift the Greenback in the near term. GBP/USD trades slightly lower at around 1.3423, but is holding above the 20-day exponential moving average (EMA) at 1.3389 and retaining a mildly bullish near-term bias. The pair has reclaimed short-term trend support, while the downward resistance trend line, with a key break reference at 1.3473, now caps the topside. Immediate resistance is seen at the trend-line break area near 1.3473, ahead of the psychological level at 13500. On the downside, initial support is provided by the 20-day EMA at 1.3389, which should act as a cushion on pullbacks; a daily close back below this level would weaken the current bullish tone and expose it to the July 28 low at 1.3274. USD/JPY resumes its recovery toward 158.00 in the European session on Tuesday. However, buyers remain wary amid further intervention risks. A joint US-Japan FX intervention on Friday and hints of further action continue to underpin the Japanese Yen. Furthermore, fresh US-Iran concerns keep the US Dollar’s rebound intact, supporting the major. Source: FX Street

Daily Market Report 08/03/2026 EUR/USD ranged in the low to mid 1.15s overnight. EUR/USD struggles with its recovery above 1.1500 in European trading on Monday, despite broad US Dollar weakness and improved risk sentiment. The USD loses traction following US President Trump’s call off an attack on Iran and that talks between the two sides would happen on Monday. Traders will closely monitor the developments surrounding US-Iran negotiations and US ISM PMI data. Traders brace for the German Retail Sales data for June, which is due later on today. If the reports come in weaker than expected, this could drag the shared currency lower. On the US docket, the US ISM Manufacturing Purchasing Managers Index (PMI) data will be published. Analysts note that the Euro received “a modest lift” earlier in the session after French CPI data “came in well above expectations,” but stress that the support quickly faded as “the impact was short-lived as broader themes took hold.” They add that “comments from the ECB have been limited and the speaking calendar is empty over the next week or so,” leaving the currency largely to trade on prevailing macro drivers rather than fresh policy signals. The British Pound is trimming previous gains against the US Dollar on Monday, returning to the mid-range of the 1.3400s down from fresh seven-week highs, above 1.3500 earlier on the day. Weaker-than-expected UK manufacturing data added pressure on the Pound, which rallied at the Asian session opening, amid news of a halt to the hostilities in Iran. The Pound is drawing some support from a moderate risk-off mood as the US and Iran halted hostilities, and US President Donald Trump’s affirmed that a new round of negotiations will begin on Monday. The US Dollar is also struggling in the aftermath of an exceptional coordinated intervention between the US and Japan to shore up an ailing Japanese Yen. The USD/JPY dropped more than 3.5% on Thursday and Friday, and posted another spike on Monday, triggering speculation of another intervention. These sharp declines have reverberated in most US Dollar cross-rates, weighing the Greenback across the board. USD/JPY is extending its recovery toward 157.00 in the European session on Monday, following a sharp slide in Asia to three-month lows below 155.50. The Japanese Yen saw a sudden surge of over 1% following reports of a joint intervention by the United States and Japan last week, which fuelled speculation of further intervention. Both sides vowed more such coordinated efforts in the future, which keeps the Japanese Yen still underpinned. Source: FX Street