• Shares of JCHX Mining Management climb 7.2% to 76.7 yuan, on track for their biggest one-day pct gain since July 22

• Stock touches the highest point since July 31, snapping two straight sessions of fall

• China-based mining services and mine resource development group says its Zambia unit wins copper mining contract valued at about $115 mln

• YTD, stock up 0.5%, benchmark CSI300 Index up 0.4%

(Reporting by Donny Kwok)

• AUD/USD +0.4% wtd, extends rally into a sixth-consecutive week

• Claims of U.S.-Iran peace progress moderates oil prices, WTI -1.6% Wed

• AUD break above 0.7088 resistance required to enable next leg higher

• Bessent says U.S. committed to support of JP after recent JPY intervention

• AU Jul balance of goods due Thur, Reuters poll consensus 1.1 bln deficit

• Range Asia 0.7040-534 support 0.6920 0.6866, resistance 0.70885 0.7200
AUD Weekly 52-WMA

(James Connell is a Reuters market analyst. The views expressed are his own.)

• AUD/USD -0.1% Wed, trading subdued as markets seek fresh inspiration

• CN Jul RatingDog services PMI 50.4(prior 54.1), AU Jul S&P services PMI 53.6

• AUD 0.7088 resistance hard to break, but would flip recent bearish narrative

• Brent crude trading below $80 a barrel on claims of U.S.-Iran peace progress

• Bessent says U.S. committed to support of JP after JPY intervention

• AU Jul balance of goods due Thur, Reuters poll consensus 1.1 bln deficit

• Range Asia 0.7040-534 support 0.6920 0.6866, resistance 0.70885 0.7200
AUD Hourly Bollinger Study & DXY Daily 55-DMA

(James Connell is a Reuters market analyst. The views expressed are his own.)

• Australian miners rise as much as 2.5%, their highest level since July 6

• The sub-index on course for fourth consecutive session of gains, if current trend holds

• Miners rise on the back of rise in copper prices, which hit their highest point in more than two months on dwindling inventories outside the U.S. [MET/L]

• Mining giants BHP Group and Rio Tinto rise more than 1.5% each

• YTD, sub-index up 13.1%

(Reporting by Aamir Sheik Khalid in Bengaluru)

• USD/JPY and JPY in general still market focus after joint intervention

• More comments from US TsySec Bessent to continue to help cap USD/JPY

• Bessent said sure BOJ Gov Ueda would "do what is best"

• Added many Asian currencies including KRW and CNY follow JPY moves

• USD/JPY still capped ahead of its ascending 200-DMA at 158.02 today

• Range in Asia so far 157.58-80 EBS, follows 157.22-96 range yesterday

• Key resistance between 157.90-158.00, daily Ichi cloud 158.92-161.41 above

• Spot holding in 156.82-158.05 hourly Ichimoku cloud, tenkan/kijun 157.64/58

• Japanese importer USD demand strong, will continue to limit USD downside

• Nikkei on rise this morning, foreign buys and currency hedges again?

• JGB-US Treasury rate differentials in narrowing mode, BOJ hike in September?

• Differential in 2s off to around 267 bps, in 10s to around 182 bps

• Will BOJ do "what's best"? Totan Research/ICAP probability to 47%

• This contrasts with growing view Fed will hold rates as is this year

• In options, smattering of expiries in area today but nothing massive

• Related comments , , ,

• And , ,

• Also , , on FX intervention

• On Bessent-speak , , ,

• US markets , , ,

• On US economy , for more click on [FXBUZ]

USD/JPY:


JGB-US Treasury 2-year interest rate differential:


Nikkei 225:

(Haruya Ida is a Reuters market analyst. The views expressed are his own)

• NZD/USD -0.2% Wed as Q2 employment data undermines RBNZ's hawkish posturing

• NZ Q2 HLFS unemployment 5.6% (poll 5.4%), labour cost index +0.7% q/q

• Critical NZD pivot at 0.5873 at risk (again), break below bearish

• U.S. equities close at record highs on positive earnings, Middle east hopes

• Claims of progress in U.S.-Iran peace negotiations continue, WTI -6.3%

• Bessent flags ongoing U.S. support for JP after JPY intervention

• Range NZ 0.5879-96, support 0.5627 5580, resistance 0.5990-95 0.60925
NZD Hourly Bollinger Study & DXY Daily 55-DMA

(James Connell is a Reuters market analyst. The views expressed are his own.)

• AUD/USD +0.7% from Tue 0.6997 low as markets turn broadly positive

• U.S. equities hit record highs on positive earnings, Middle east hopes

• Brent crude -6.0% amid ongoing claims of progress in Iran peace talks

• Bessent reaffirms ongoing U.S. support for JP in wake of JPY intervention

• AUD targeting 0.7085-90 resistance, breakout would reinvigorate weary bulls

• AU Jul S&P services PMI, CN Jul RatingDog services PMI both due Wed

• Overnight range 0.7015-485 support 0.6920, resistance 0.70885 0.7200
AUD Daily 55-DMA

(James Connell is a Reuters market analyst. The views expressed are his own.)

Goldman Sachs Research shifts to a neutral bias on GBP in the near-term.

"We see near-term risks to Sterling as being more balanced, and closed out of our tactical short GBP/USD recommendation. Over the medium term, we continue to expect Sterling underperformance, driven by bouts of fiscal premium and an unwind of BoE hike pricing. On the former, after some question marks around funding propositions in week one, fiscal news in the second week of the Burnham government has been comparatively light," GS notes.

"We suspect this largely remains the case until closer to the Autumn budget (announced for October 28), arguing for a passage of more muted vol from swings in fiscal premia. But with many of the fundamental constraints to fiscal policy still in place, and recent rebounds in energy prices and Gilt yields amplifying those challenges, we remain of the view that when that fiscal vol does return, it is likely to produce short-lived but asymmetrically negative bouts of Sterling pressure," GS adds.

(linked currency stories ) The dollar weakened on Tuesday as oil tumbled on signs of progress in U.S.-Iran Hormuz talks, prompting markets to pare Fed hike expectations and help lift the S&P 500 to a fresh record high as tech rallied. Iran's foreign ministry said talks with Oman on Strait of Hormuz transit routes remain positive, with discussions focused on safe shipping lanes and security concerns. Treasury Secretary Scott Bessent said a deal may soon be reached with Iran on Hormuz, optimism also expressed by Secretary of State Marco Rubio. Earlier reports said Iran and Oman were discussing a plan to reopen the Strait of Hormuz, while Qatar said mediators were making progress in efforts to end the U.S.-Israeli war on Iran. Oil extended losses on a report that Iran may allow Europe to clear mines in the Strait of Hormuz. On intervention, Bessent said the U.S. would do "whatever it takes" to support yen stabilization, backed Japan's policies and suggested the Fed could expand an associated liquidity facility, if needed. Philadelphia Fed President Anna Paulson said she's open-minded about the outlook for rate policy and said it was right for the central bank to look through the energy shock. EUR/USD climbed toward 1.1530 as softer Treasury yields and broad dollar selling supported risk assets, keeping the technical bias constructive above key moving averages. GBP/USD held near 1.3440 as lower Treasury yields offered support, though gains remained capped ahead of Friday's payrolls report amid lingering geopolitical and intervention risks. AUD/USD climbed above 0.7040 on broad dollar weakness and improved risk sentiment, with rising daily and monthly RSIs, August's long-legged doji adding to bullish sentiment. USD/JPY held gains above 157 on improving risk sentiment as Hormuz talks progressed, but upside remains capped below key 158 resistance despite easing downside hedging demand.

Treasury yields were down 4 to 6 bps as the curve steepened. The 2s-10s curve was up marginally at +43.3 bps.

The S&P 500 surged 1.9%, posting a new record high amid a tech rally.

WTI oil tumbled nearly 6%.

Gold rose 0.84% while copper gained 1.87%.

Heading toward the close: EUR/USD +0.16%, USD/JPY +0.31%, GBP/USD +0.05%, AUD/USD +0.57%, =USD -0.09%, EUR/JPY +0.46%, GBP/JPY +0.41%, AUD/JPY +0.91%.(Editing by Terence Gabriel Robert Fullem is a Reuters market analyst. The views expressed are his own)

• NY opened near 0.7030 after 0.6997 traded overnight, rally extended in NY

• USD, US yield , USD/CNH drops helped drive AUD/USD upward

• Fresh all-time highs in equities & gains in gold, silver, copper aided the lift

• AUD/USD hit 0.7042, the pair traded nearby late, it was up +0.56% late in the day

• The pair's hold above the 10-, 21- 55- and 200-DMAs are bullish tech signals

• Rising daily, monthly RSIs, August's long legged doji add to bullish sentiment
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

ANZ Research discusses its USD outlook through the end of the year.

"Positioning reinforces the case for caution. USD longs remain extended, leaving the market vulnerable to further liquidation if US data soften or rate support continues to erode. This is not a one-way USD bear case. US growth is still resilient, real yields remain elevated and medium-term support from energy exports and technology investment is intact. But the relative story is shifting as growth and policy differentials narrow, lifting the hurdle for renewed USD upside," ANZ notes.

"Our base case is for the USD to trade with a softer bias through the remainder of 2026. A less hawkish Fed interpretation, weaker marginal support from US rates and higher fiscal risk premia. Our year-end DXY forecast is 99, with risks skewed lower if the upcoming US mid-term elections in November lift policy uncertainty," ANZ adds.

• Ether rallied toward the 10-DMA earlier then erased all of its gains

• It turned lower on the session and was trading down -0.17% in Ny's morning

• Ether fell despites broad-based risk-on influences that are normally bullish for Ether

• The USD & US yields are sinking; USD/CNH fell to 6.7459

• USD alternatives gold and silver rallied while S&P 500 hit a fresh all-time high

• Ether remained below the 10-DMA and is consolidating its drop from the July 27 high

• Falling daily, monthly RSIs indicate downward momentum to reinforce bearish signals

• The 1800.00 to 1830.00 zone is key support, series of recent daily highs & lows sit there

• Break of that zone could trigger stop selling, bring 1690.00-1710.00 into focus
eth


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

MUFG Research discusses the latest wave of JPY intervention.

"On balance, we expect US intervention to support the yen to remain relatively small in scale. While joint intervention may prove more effective at helping to provide support for the yen in the near-term, we still believe that it can only buy time. There will need to be a change in fundamentals as well to encourage a sustainable reversal of the yen weakening trend that has been in place over the last five years," MUFG notes.

"More US pressure on Japan to allow a faster pace of BoJ policy normalization as part of the joint intervention arrangement would an important step to help reverse yen weakness. The Japanese rate market has moved to price in a higher probability of a September hike which is currently priced at closer to 50:50," MUFG adds.

AUD/USD is currently trading roughly 2.5% above its June low, though it remains capped by resistance in the 0.7070 to 0.7090 zone. Despite this technical hurdle, bullish traders remain confident that the broader trend favors further upside. For now, however, they appear to be waiting for a fresh catalyst to reignite the rally.

Part of this bullish confidence stems from supportive external market dynamics. Copper has surged to a two-month high, equity markets have pushed to fresh all-time highs, and gold and silver appear to be stabilizing after steep declines earlier in the year. If these cross-asset tailwinds persist, they could help drive AUD/USD higher.

However, notable risks remain, particularly around upcoming U.S. labor market data. Reports including the ADP employment figures, nonfarm payrolls, weekly jobless claims, and the ISM non-manufacturing index will offer insight into labor market health. Should these releases point to cooling job growth rather than overheating, markets may scale back expectations for Federal Reserve rate hikes , likely triggering broad U.S. dollar weakness and giving AUD/USD room to resume its climb.

If the pair breaks above the 0.7070 to 0.7090 zone—which contains both the 50% Fibonacci retracement of the 0.7277-0.6867 decline and the June 15 daily high—the next test would likely be structural resistance near 0.7190-0.7220. Technical indicators support this scenario, as daily and monthly RSIs point to upward momentum, and AUD/USD continues to trade above its rising 10-, 21-, and 200-day moving averages.
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Bank of America Global Research discusses the latest wave of JPY intervention.

JP Morgan Research discusses the latest wave of JPY intervention.

"Japan's MOF appears to have conducted yen-buying intervention again on July 31, following intervention on the 30th. It is highly likely that this year's total intervention amount has already far exceeded the 2024 amount of JPY 15 trillion...The cooperative posture of US and Japanese authorities to prevent yen depreciation appears to be considerably stronger than we had expected," JPM notes.

"The impact of intervention flows on supply-demand dynamics is unlikely to be very large, and the effectiveness of intervention is expected to depend largely on the announcement effect...Given that neither Japan nor the United States appears to have a strong intention to push USD/JPY sharply lower, we see a low likelihood that coordinated intervention would lead to major yen appreciation that takes USD/JPY below 150. Accordingly, for now we maintain our existing USD/JPY targets (3Q26: 160, 4Q26: 164, 2Q27: 164)," JPM ads.

(Repeats with no changes)

Aug 4 (Reuters) -

• FX options expire at 10-am New York/1400 GMT on Tuesday 4 August

• EUR/USD: 1.1395-00 (1.1BLN), 1.1420-25 (415M), 1.1430-35 (674M)

• 1.1450-55 (2.6BLN), 1.1500 (1.4BLN), 1.1550-60. (1.1BLN)

• USD/JPY: 155.00 (431M), 157.00 (770M), 157.60 (290M), 158.00-10 (580M)

• 158.50 (281M), 159.00 (540M), 159.75 (280M), 160.00 (443M)(Peter Stoneham is a Reuters market analyst. The views expressed are his own)

• EUR/USD rose 1.1354-1.1559 where rally became stretched

• The top of the 20-Day Bollinger bands is 1.1533

• Traders built $10 billion short between Jun 30 and Jul 28

• EUR/USD traded below 1.1482 in that period

• Range since Fed/BOJ intervention 1.1500-1.1559

• The 100-DMA is a likely trigger point for buy stops

• Joint action to support yen may be very damaging for US dollar

•
EURUSD


(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)

• Cable consolidating quietly, spot pinned in a tight 1.3422-40 range

• Key downside support at 1.3390-1.3400 (200-day MAs), topside resistance at 1.3500

• Oil stabilising after yesterday's selloff, should cap GBP/USD upside on rebounds

• Little to suggest a breakout ahead of Friday's payrolls print

• Price action continues to favour a near-term rangebound setup
GBPUSD daily chart


Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))

• Washington and Tokyo yen-buying is a strong signal, analysts say

• There is nervousness over renewed US-Japan intervention

• USD/JPY has seen a 157.22-157.84 rise, on Tuesday, according to EBS data

• The long-tail on Monday's candle points to a rejection of USD/JPY's downside

• The latest recovery could well be limited by 158.56 Fibo resistance

• 158.56 Fibo is a 38.2% retrace of the 163.99 to 155.20 (July to August) drop

• Recent rounds of intervention puts USD/JPY on course for 2026 152.10 low retest

• Note the 152.10 low was printed on EBS back in January

Daily Chart


(Martin Miller is a Reuters market analyst. The views expressed are his own)

(Corrects is to its in last bullet)

• Traders were betting on the euro rising until July 3

• They were short of euros when BOJ/Fed intervened on Jul 31

• EUR/USD has risen above levels where traders established shorts

• $10.3 billion short is largest bearish wager since 2020

• The larger the FX bet, the greater its influence on currencies

•
EURUSD and betting


(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)

• FX options expire at 10-am New York/1400 GMT on Tuesday 4 August

• EUR/USD: 1.1395-00 (1.1BLN), 1.1420-25 (415M), 1.1430-35 (674M)

• 1.1450-55 (2.6BLN), 1.1500 (1.4BLN), 1.1550-60. (1.1BLN)

• USD/JPY: 155.00 (431M), 157.00 (770M), 157.60 (290M), 158.00-10 (580M)

• 158.50 (281M), 159.00 (540M), 159.75 (280M), 160.00 (443M)(Peter Stoneham is a Reuters market analyst. The views expressed are his own)

• Shares of Australia's Fitzroy River rise as much as 6.7% to A$0.240, hitting their highest level since mid-July 2014

• Shares mark their biggest intraday pct gain since June 5

• Oil and gas mineral investment holding co appoints financial adviser for potential divestment of royalty interest in Bowdens Silver Project, Australia

• More than 438,700 shares change hands, about 6x the 30-day average

• YTD, stock up 50%, including session's moves

(Reporting by Subhalakshmi Dey in Bengaluru)

• AUD/USD +0.3% Tue with AU household spending defying rate-hike pressure

• Annual household spending +6.0% in Jun as the fuel crisis lifted EV demand

• DXY +0.6% from Mon 99.42 low as immediate JPY intervention fears dissipate

• Oil prices fall despite inconsistent claims about U.S.-Iran peace talks

• AUD pushing upper hourly Bollinger band, topside may be limited short term

• Failure to break 0.7035 cleanly will consign pair to fresh downside drift

• Range Asia 0.6997-0.70235 support 0.6920 0.6866, resistance 0.70885 0.7200
AUD Hourly Bollinger Study & DXY Daily 55-DMA

(James Connell is a Reuters market analyst. The views expressed are his own.)