The Euro extends its advance for the third consecutive session against the Japanese Yen on Tuesday, with EUR/JPY climbing toward the 173.00 level during the American session — a level last seen on 12 July 2024.
The price of Silver is attempting to recover from Monday’s slump as traders digest fresh economic data from China, the Eurozone, and the United States.
Gold (XAU/USD) is trading in a narrow range on Tuesday, following the US Consumer Price Index (CPI) report that reinforced expectations the Federal Reserve (Fed) may refrain from a near-term rate pivot.
The Euro (EUR) is up a modest 0.2% against the US Dollar (USD) and attempting stabilization in the mid/upper-1.16s, supported by an improvement in the broader market’s mood, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
US Dollar (USD) is likely to trade sideways between 7.1630 and 7.1780 against Chinese Yuan (CNH). In the longer run, USD is expected to trade in a range between 7.1550 and 7.1920, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Gold (XAU/USD) correction has been limited at $3,340, and the precious metal is retracing previous losses on Tuesday, approaching three-week highs at $3,380 as US Treasury yields and the US Dollar pull back from recent highs ahead of the US CPI release.The US Dollar Index, which measures the value o
Dow Jones futures trade quietly during the European trading session on Tuesday as investors await quarterly results from a number of United States (US) commercial banks and the Consumer Price Index (CPI) data for June, which will be published at 12:30 GMT.
Further US Dollar (USD) strength is not ruled out against Japanese Yen (JPY); negative divergence suggests any advance is unlikely to break above 148.05.
New Zealand Dollar (NZD) could test 0.5950 against US Dollar (USD); a sustained break below this level is unlikely. In the longer run, price action indicates that further NZD weakness is likely; the level to watch is 0.5950, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Monday was relatively quiet in terms of news surrounding US tariff policy, at least when compared to last week. The new deadline has been set, and now it's time to get back to the negotiating table. However, it should be clear that the next two weeks will not be easy.
Australian Dollar (AUD) is under mild downward pressure against US Dollar (USD); it may edge lower but is unlikely to reach 0.6515. In the longer run, AUD is likely still trading in a range of 0.6515/0.6615, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
US Dollar (USD) traded mixed with strength seen vs. most Asian FX including THB, IDR, PHP while USD was modestly softer vs. CHF, EUR and precious metals. DXY was last at 98 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
FX markets have had a quiet start to the week. The risks of new Russian sanctions highlighted here yesterday were actually less harsh than expected in that they gave Russia 50 days to reach a deal (ceasefire with Ukraine). Energy prices ended a little lower, ING's FX analyst Chris Turner notes.
Further Pound Sterling (GBP) weakness is not ruled out against US Dollar (USD); any declines are unlikely to reach the major support at 1.3375. In the longer run, the outlook for GBP remains negative; a move to 1.3375 is now expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
USD/JPY rose amid rise in UST yields, tariff implications, sell-off in longer-dated JGBs and upper house election uncertainty. USD/JPY was last at 147.69 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Risk for Euro (EUR) remains on the downside against US Dollar (USD); lackluster momentum continues to suggest that 1.1625 is likely out of reach. In the longer run, the risk of EUR declining to 1.1625 is increasing, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Euro (EUR) consolidated overnight in absence of fresh catalyst while markets wait and see US CPI data for any tariff-related implications. EUR was last at 1.1675, OCBC's FX analysts Frances Cheung and Christopher Wong note.
The Pound treads water as the Yen loses momentum, with market sentiment improving.The bearish correction from last week's highs near 200.00, remains contained above 198.25 for now.On the upside, the Pound would need to clear Monday's top, at 198.80, to ease bearish pressure.The Pound is picking up o
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is losing ground after registering gains in the previous four consecutive sessions and trading around 98.00 during the early European hours on Tuesday.
West Texas Intermediate (WTI) Oil price extends its losses for the second successive session, trading around $65.80 per barrel during the European hours on Tuesday.
The GBP/USD pair consolidates near the 1.3430-1.3435 region, just above a three-week low touched during the Asian session on Tuesday as traders keenly await the release of the US consumer inflation figure.
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