Market News
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Japanese Yen: Wider range with intervention support against US Dollar – HSBC
HSBC strategists discuss the sharp post-intervention drop following coordinated action by Japan’s Ministry of Finance and the US Treasury. They argue that joint intervention is more effective than unilateral moves but unlikely to change the broader trend without improved Japanese fundamentals.
US Dollar Index Price Forecast: A break above 100.00 would confirm a double bottom
The US Dollar Index (DXY) appreciates for the second consecutive day on Tuesday, favoured by a mix of concerns about the stalled US-Iran negotiations and hawkish Fed speak, which keeps hopes of a September rate hike alive.
South Africa Manufacturing Production Index (YoY) rose from previous -4.3%Â to -1.7% in June
South Africa Manufacturing Production Index (YoY) rose from previous -4.3%Â to -1.7% in June
Euro treads water against US Dollar as traders await US CPI
EUR/USD trades around 1.1535 on Tuesday at the time of writing, posting a modest 0.06% decline on the day.
Gold Price Forecast: Rally hits pause near $4,440 with US CPI in focus
Gold price (XAU/USD) trades 0.26% lower at around $4,380 during the European trading session on Tuesday.
NZD/USD Price Forecast: Focus shifts to 0.5850 support area as risk appetite fades
The New Zealand Dollar (NZD) nudges lower against a firmer US Dollar (USD) for the second consecutive day on Tuesday, as doubts about the fate of the US-Iran peace negotiations hurt market confidence and boost Oil prices higher.
United States NFIB Business Optimism Index registered at 99.8 above expectations (97.5) in July
United States NFIB Business Optimism Index registered at 99.8 above expectations (97.5) in July
Australian Dollar: RBA keeps door open – Rabobank
Rabobank's Senior Macro Strategist Bas van Geffen reports that the Australian Dollar (AUD) slipped briefly after the RBA left its policy rate unchanged, as markets interpreted the statement and downgraded growth and inflation forecasts as dovish.
Australian Dollar edges up, RBA hawkish hold does little to revive rate hike expectations
The Australian Dollar (AUD) attracts bids against its major currency peers after the Reserve Bank of Australia’s (RBA) monetary policy decision, but is still trading marginally lower at around 0.7050 against the US Dollar (USD) during the European trading session on Tuesday.
Canadian Dollar remains near two-month highs against US Dollar as Oil prices rise
USD/CAD trades around 1.3935 on Tuesday at the time of writing, virtually unchanged on the day with a modest 0.03% decline.
Germany 5-y Note Auction rose from previous 2.89%Â to 2.93%
Germany 5-y Note Auction rose from previous 2.89%Â to 2.93%
WTI Oil hits fresh highs at $83.50 as Hormuz reopening hopes vanish
Oil prices rally for the second consecutive day on Tuesday, with the barrel of the US benchmark West Texas Intermediate (WTI) trading at $83.50 during the European trading session.
Federal Reserve: Dovish repricing on data and inflation focus – BNY
John Velis at BNY Markets reiterates that he expects no Federal Reserve rate hikes this year, even as risks remain skewed to the upside.