美国8月非农出炉前货币对冲成本攀升 交易员备战汇市波动加剧

Group 1 - The cost of hedging in the currency market has risen again, with traders preparing for potential volatility ahead of the upcoming U.S. employment report [1] - The implied volatility of the euro against the dollar reached its highest level since June, indicating the significance of the non-farm payroll data for assessing the Federal Reserve's next steps [1] - A weak employment report could increase market expectations for a larger rate cut by the Federal Reserve, potentially leading to a weaker dollar [1] Group 2 - The three-month relative hedging cost for the British pound has risen to its highest level since January, as traders brace for potential market fluctuations surrounding the upcoming budget announcement [3] - Concerns over global fiscal policy are creating a "perfect storm," driving up yields and weakening the pound [3] - The overall volatility measure for G10 currencies has reached a one-month high, influenced by various risk factors including fiscal concerns in the UK and political instability in France [3] Group 3 - The one-week implied volatility for the euro has surged to a two-month high, coinciding with the upcoming European Central Bank meeting and U.S. CPI data [3] - Although the European Central Bank is not expected to adjust policy at the next meeting, prior statements from policymakers have opened the door for potential rate hikes, making forward guidance crucial [3]