The latest Market Talks covering FX and Fixed Income. Published exclusively on Dow Jones Newswires throughout the day.

0251 GMT - The Singapore dollar is steady against its U.S. counterpart, supported by the Monetary Authority of Singapore's tighter policy. Singapore's central bank on Monday said it will increase the rate of appreciation of the Singapore dollar nominal effective exchange rate's policy band "very slightly." This very slight increase in the Singapore dollar's NEER slope should provide "an additional, albeit modest, policy tailwind for the SGD," two strategists at OCBC Group Research say in a report. The U.S. dollar is little changed at 1.2917 Singapore dollars, LSEG data show. (ronnie.harui@wsj.com)

0229 GMT - Bitcoin falls sharply in Asian trading. Risk asset prices are under pressure from shifting Federal Reserve policy expectations, as strong labor data, firmer business activity and rising energy prices that have kept inflation elevated have raised the risk of either a rate hike or a hawkish policy signal, crypto platform Bitfinex analyst says in a commentary. Meanwhile, institutional demand for bitcoin is at multi-year lows, with open interest in both CME bitcoin futures and options falling to record lows. Bitfinex says a move above the $68,000 to $68,500 resistance zone would requires fresh demand, but inflows into spot ETFs and treasury companies remain too weak to drive prices higher. Bitcoin is down 2.6% at $63,200.03.(jason.chau@wsj.com)

0224 GMT - Singapore's central bank isn't likely to tighten its monetary policy further this year, as core inflation is unlikely to breach the top end of its forecast range, say Maybank economists in a note. The decision to tighten monetary policy was partly due to concern that strong economic growth from artificial-intelligence-driven investment could spill over to lift demand-pull inflation, they reckon. Therefore, the Monetary Authority of Singapore may only tighten policy if there is evidence that demand-pull pressures are gaining a foothold, such as through second-order effects from rising energy prices, they add. The MAS uses the exchange rate as a policy tool for maintaining price stability, given the city-state's small and open economy.(megan.cheah@wsj.com)

0209 GMT - The Indonesian rupiah could remain range-bound against the dollar as investors await clarity on the appointment of the next Bank Indonesia governor and the government's 2027 fiscal plans, CIMB economists say in a note. Acting Gov. Destry Damayanti is expected to provide near-term policy continuity following Perry Warjiyo's resignation. But sentiment could remain cautious until a permanent successor is named, they write. The economists expect the rupiah to retest the 18,200 level against the dollar, with downside likely cushioned by central bank intervention. They think the choice of the next governor will be a key gauge of Bank Indonesia's priorities on currency stability, growth and capital flows. The dollar rises 0.4% to 18,065 rupiah. (yingxian.wong@wsj.com)

0202 GMT - Acting Bank Indonesia Gov. Destry Damayanti looks like a front-runner to become the next central bank governor, with a permanent appointment expected within the next two months, Bahana Sekuritas economist Purbiantoro Lintang says in a note. Her appointment would ensure policy continuity after Perry Warjiyo's resignation, given her role in shaping the central bank's current policy framework since 2019, and she is widely regarded as a market-friendly policymaker, he says. The economist expects markets to remain cautious until a permanent governor is formally appointed. Investors will be closely watching Bank Indonesia's next policy meeting and coming central bank securities auctions for signs that support for the rupiah remains unchanged, he adds. (yingxian.wong@wsj.com)

0200 GMT - The dollar is likely supported for now by elevated U.S. Treasury yields and continuing Middle East tensions, MUFG Bank's Lloyd Chan says in a research report. Also, this week's "FOMC decision is likely to be a key market catalyst," the senior currency analyst says. "While no policy change is expected, the focus will be firmly on the Fed's guidance, if any, on whether policymakers remain inclined to tighten policy," Chan says. Meanwhile, "U.S. tariffs are coming back into focus, as the Trump administration looks to rebuild its tariff policy after the Supreme Court had struck down Trump's global reciprocal tariffs early this year," the analyst adds. The U.S. Dollar Index is little changed at 101.492, LSEG data show. (ronnie.harui@wsj.com)

0029 GMT - Asian currencies consolidate against the dollar in early trade, but may be weighed by lingering geopolitical risks. "Key issues surrounding control of the Strait of Hormuz and Iran's nuclear programme remain unresolved," two strategists at OCBC Group Research say in a research report. Also, "inflation risks extend beyond crude oil. Gasoline and diesel prices have increased more rapidly than crude, making energy costs effectively higher than headline oil prices suggest," the strategists add. The U.S. dollar rises 0.3% to 1,468.50 won, but is little changed at 1.2911 Singapore dollars and is flat at 163.76 yen, LSEG data show. (ronnie.harui@wsj.com)

0021 GMT - JGBs fall in price terms in the morning Tokyo session amid worries over potential worsening of Japan's fiscal situation. Mitsubishi UFJ Morgan Stanley Securities' fixed income strategists note a local media report stating that the government plans to cut the consumption tax on food items to 1% starting April 2027, as part of a sales tax reduction limited to two years. The report indicates that PM Takaichi is likely to instruct the Liberal Democratic Party to begin internal procedures, possibly as early as Thursday. However, the strategists note that the funding sources for this remain unclear. The 30-year JGB yield is up 1.5 bps at 3.980%. (ronnie.harui@wsj.com)

0018 GMT - The dollar's bullish trend against the yen remains firm, based on technical analysis, StoneX's Matt Simpson says in commentary. Given a bullish "pinbar" pattern on the daily chart and a potential "bull flag" pattern on the four-hour chart, the dollar may attempt to stage a breakout above the 164 yen level in the near-term, the senior market analyst says. Also, Monday's low "respected" the dollar-yen pair's weekly pivot point, while its weekly "R1" is just below 164.50, a potential upside target for bulls, Simpson adds. The dollar is little changed at Y163.80, LSEG data show. (ronnie.harui@wsj.com)

0014 GMT - Japanese stocks are lower in early trade following overnight drops in U.S. technology stocks. Uncertainty over the Iran conflict is also weighing on the market. Chip and metals stocks are leading the declines. Advantest is down 8.0%, and Mitsui Kinzoku is 6.1% lower. The dollar is at 163.80 yen, compared with Y163.56 as of Monday's Tokyo stock market close. Investors are closely watching crude oil prices and developments in the Middle East after Saudi Arabia said it had intercepted drones that Iran-backed militias in Iraq had launched at the kingdom's oil facilities. The Nikkei Stock Average is down 2.6% at 63231.25. (kosaku.narioka@wsj.com; @kosakunarioka)

2348 GMT - Japanese stocks may decline amid uncertainty over the Iran conflict and following overnight drops in U.S. technology stocks. Nikkei futures are down 1.7% at 63930 on the SGX. The dollar is at 163.75 yen, compared with Y163.56 as of Monday's Tokyo stock market close. Investors are focusing on crude oil prices and developments in the Middle East after Saudi Arabia said it had intercepted drones that Iran-backed militias in Iraq had launched at the kingdom's oil facilities. The Nikkei Stock Average rose 0.5% to 64931.19 on Monday. (kosaku.narioka@wsj.com)Governor of the Reserve Bank of Australia, Michele Bullock will deliver the annual Anika Foundation speechin Sydney at 1.05 PM local time. She's likely to sound hawkish and point to renewed tensions in the Middle East as a key reason for her concerns. With fuel prices going up again nationally, consumer expectations about higher living costs are likely to be further cemented into place. Australia continue to have an inflation problem amid criticism of the RBA is hasn't been heavy handed enough about taming price pressures. Recent strong employment growth data will also get a mention. (james.glynn@wsj.com; X @JamesGlynnWSJ)

(END) Dow Jones Newswires

July 27, 2026 22:51 ET (02:51 GMT)

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