💱 Busy Week Start with Central Bank Speakers, Dollar Strength Pauses for Adjustment

📊 Limited Guidance from Economic Data

The new week begins quietly, with few major economic releases. Scheduled data include:

• Turkey Consumer Confidence Index (September)

• Hong Kong CPI (August)

• Canada Industrial Product Prices (August)

• Eurozone Consumer Confidence Index (flash, September)

None are expected to meaningfully shift the broader direction of the U.S. dollar.

🏛 Wave of Policymaker Speeches

Today brings a heavy lineup of central bank comments:

• ECB: Banco de España Governor Escrivá, Bundesbank President Nagel, and ECB Chief Economist Lane

• BOE: Chief Economist Pill and Governor Bailey

• Fed: New York Fed President Williams, St. Louis Fed President Musalem, Governor Milan, Richmond Fed President Barkin, and Cleveland Fed President Hummack

Last week’s FOMC delivered a 25bp rate cut and signaled two more cuts by year-end. Markets are now weighing a “consecutive cuts” scenario, and today’s remarks will be scrutinized for whether they reinforce or challenge this outlook.

💵 FX and Rates Moves

• USD/JPY: Fell to 147.82, now holding near 147.85

• EUR/USD: Rebounded from 1.1726 to 1.1769

• GBP/USD: Recovered from 1.3453 to 1.3503

• U.S. 10Y Treasury yield: Down to the 4.12% area

Dollar strength has eased, with early London trading showing a tilt toward dollar selling.

📊 Expected Trading Ranges (Start of Week)

✅ Summary

The early-week theme is “light data + policymaker speeches.”
The dollar’s rally has entered a consolidation phase, with short-term bias leaning toward dollar selling.
The key question is how Fed, ECB, and BOE commentary will influence U.S. yields in the days ahead.