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USDCAD TECHS

Heads North

AUDUSD TECHS

Bearish Cycle Still In Play

EURJPY TECHS

Death Cross Adding Pressure

FOREX

Risk Off Prompts Safe Haven Demand

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  • CPI inflation surprised positively in July and came in higher than expected at 5% YoY (vs. 4.7% exp.), up from 4.4% the previous month.
  • Even though the majority of NBP policymakers aim to keep interest rates steady in order to stimulate the economic recovery, the persistence of inflation could 'push' the Polish central bank to become more hawkish in the second half of H2.
  • USDPLN is slightly down following the CPI print, gradually approaching today's low at 3.8420.