Japan Construction Orders YoY

Japan Housing Starts YoY

Japan Consumer Confidence

Germany Hesse CPI MoM

US natural gas prices fell to $2.87/MMBtu on Monday, extending their retreat from a five-week high as traders weighed the prospect of increased supply. Energy Transfer LP’s Hugh Brinson Pipeline in Texas is set to begin service on September 1 and will eventually be able to transport about 2.2 Bcf/d of natural gas from the Permian Basin to East Texas, which may increase domestic gas supplies in Erath, Louisiana. On top of that, output in the Lower 48 states averaged a record 111.4 bcfd so far in August, up from 110.7 bcfd in July. However, losses were capped by forecasts for warmer weather, with the Commodity Weather Group saying on Friday that above-average temperatures are expected across the eastern two-thirds of the US from September 2-11, keeping cooling demand elevated. Meanwhile, data showed gas demand from LNG export plants improved, as Cheniere Energy’s Corpus Christi facility and Freeport LNG in Texas resumed operations after maintenance.

US Natgas Prices Drop Further

Copper futures eased to around $6.55 per pound on Monday, falling for a fourth straight session as the dollar strengthened amid growing expectations that the Federal Reserve will raise interest rates next month following hawkish remarks from Chair Kevin Warsh. A stronger dollar makes greenback-priced commodities such as copper more expensive for buyers using other currencies, weighing on near-term demand. There were also signs that the supply squeeze may be easing, with the premium for spot copper over three-month futures narrowing. Additionally, LME inventories have improved recently as metal deliveries increased. However, traders continued diverting copper shipments toward the US ahead of potential new import tariffs, tightening supplies in global markets. Mining disruptions in major producers Indonesia, Congo and Chile also added to concerns over supply.

Copper Edges Lower as Dollar Strengthens

The Indian rupee weakened to around 95.5 per dollar, after trading largely flat in the previous week, as renewed expectations of a Federal Reserve rate hike strengthened the dollar and pushed US Treasury yields higher. Markets raised the probability of a September rate increase to nearly 60% following hawkish remarks from Fed Chair Kevin Warsh, increasing pressure on the rupee. Higher crude prices also weighed on sentiment, with Brent approaching $90 a barrel amid renewed tensions around the Strait of Hormuz. However, persistent foreign-currency inflows and RBI intervention are expected to limit the currency's downside, with the 95.70-95.80 zone seen as a well-defended level. India's forex reserves reached a record $729.33 billion in the week to August 21, rising for an eighth straight week as RBI measures attracted nearly $73 billion in inflows, including about $65 billion from non-resident Indian deposits.

Rupee Weakens on Fed Hike Bets, Oil

The Turkish lira weakened past 48 per US dollar in August, extending its gradual depreciation to a fresh record low and bringing year-to-date losses to about 17%. The currency has followed a gradual depreciation path as the Central Bank of Türkiye uses foreign-exchange interventions and other FX tools to contain excessive volatility and limit exchange-rate pass-through to inflation, allowing the lira to weaken while supporting the disinflation process. Annual consumer inflation eased to 31.75% in July from 32.11% in June, although the CBRT noted that leading indicators pointed to a temporary pickup in underlying inflation in July, keeping price pressures elevated. The CBRT also raised its end-2026 inflation forecast to 28% from 26% amid higher energy and food-price pressures. Meanwhile, the bank held its benchmark overnight lending rate at 37% for a fourth consecutive decision in July, maintaining its tight monetary policy stance.

Trending Symbols And Events

Most latest news, events and ideas for smart decisions

Latest News