Japan Construction Orders YoY

Japan Housing Starts YoY

Japan Consumer Confidence

Germany Hesse CPI MoM

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.

Turkish Lira Hits Record Low

MSE 20 increased to an all-time high of 58134.00 Index Points. Over the past 4 weeks, Mongolia Stock Market MSE Top 20 Index gained 6.99%, and in the last 12 months, it increased 19.14%.

Stocks in Mongolia Hit All-time High

Corn futures climbed further above $5.1 per bushel, reaching a fresh high since July 2023 as mounting concerns over US crop prospects and tightening global supplies continued to support prices. The USDA cut its 2026 US corn yield forecast by 2.3 bushels per acre to 180.7, while the Pro Farmer Crop Tour found that extreme July heat and excessive rainfall had damaged crops across parts of the Corn Belt. Rising disease pressure following heavy August rainfall has further clouded the outlook. Meanwhile, prolonged heat and drought have weakened European corn production, with French crop conditions falling to just 28% good-to-excellent, while constrained Ukrainian exports are adding pressure to global supplies. The USDA also raised its US corn export forecast by 75 million bushels to 3.3 billion, reflecting stronger global demand. Corn futures gained 5.5% last week and 15.6% in August, putting them on track for their strongest monthly gain since April 2021.

Corn Extends Rally as US Crop Concerns Mount

The New Zealand dollar steadied around $0.591 on Monday after falling 0.6% to an over one-week low on Friday as the US dollar strengthened following hawkish comments from Federal Reserve Chair Kevin Warsh. In his first major speech since taking over as Fed chair in May, Warsh indicated that further interest rate increases may be necessary to contain inflation, prompting traders to increase bets on a September rate hike. The shift in US rate expectations outweighed support for the kiwi dollar from expectations of further policy tightening by the Reserve Bank of New Zealand. The RBNZ is widely expected to deliver another quarter-point rate hike at its meeting later this week, with most economists anticipating one more hike, potentially taking the rate to 3% or higher by December. On the data front, New Zealand’s business confidence eased slightly in August from July’s five-month high but remained strong overall.

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