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SocGen's Overnight Economic News Summary

BY MT Newswires | ECONOMIC | 08/12/25 06:13 AM EDT

06:13 AM EDT, 08/12/2025 (MT Newswires) -- Societe Generale in its early Tuesday economic news summary pointed out:

-- US dollar and United States yields rangebound ahead of the consumer price index, 10-year U.S. Treasury support 4.18%, resistance 4.38%. The two-year support 3.69%/66% and resistance 3.82%. EUR/USD on 50dma (1.1612), option strikes at 1.1575 (820 million euros), 1.1650 (1.1 billion euros). U.S./China tariff truce rolled for 90 days.

-- The Reserve Bank of Australia lowers CRT by 25bps to 3.60% in a unanimous decision. Statement: underlying inflation will continue to moderate to around the midpoint of the 2%-3% range, with the cash rate assumed to follow a gradual easing path. SOMP pencils in two cuts by mid-2026, in line with the OIS curve. The three-year AGB unchanged at 3.40%. AUD/USD -0.1% at 0.6500.

-- United Kingdom average earnings excluding bonuses steady at 5.0% three-month/over/year-on-year in June, private sector moderates to 4.8%. Employment +238,000 three-month/over/three-month, strongest since September 2024. Unemployment rate unchanged at 4.7%. Payrolled employees -8,000 in July, June revised down to -26,000.

-- Day ahead: U.S. CPI, SocGen forecasts headline 0.3%, 2.9% year over year; core 0.3%, 3.0% yoy. Federal Reserve speaker Barkin. Germany ZEW. India and Brazil CPI.

-- Nikkei +2.1%, EUR 10-year IRS unchanged at 2.65%, Brent crude +0.5% at $67.0/barrel, Gold +0.1% at $3,349/oz.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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