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Euro: Range-bound against US Dollar ahead of ECB – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret highlight the Euro (EUR) trading quietly against the US Dollar (USD) in a tight low-1.14 range, with limited reaction to stronger ZEW sentiment data. Short-term rates have stabilized after a hawkish repricing, supporting EUR via yield spreads.
British Pound: Fiscal uncertainty caps upside against US Dollar – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad highlights that the sell-off in gilts and British Pound (GBP) has stabilized after Prime Minister Andy Burnham appointed John Healey as Chancellor and pledged to stick to fiscal rules.
Canadian Dollar: Mean reversion faces tariff headwinds – Societe Generale
Societe Generale strategists note that softer June inflation in Canada has stalled the Canadian Dollar’s (CAD) rebound from 1.4250 toward 1.40 against the US Dollar (USD). Failure to reclaim the 50-day moving average around 1.3991 and new US tariffs on Canadian goods complicate the mean-reversion.
Japanese Yen: Japan’s fiscal pivot and GPIF flows reshape rates – BNY
BNY’s Geoff Yu highlights Japan’s new fiscal guidelines under Prime Minister Takaichi, which prioritize proactive spending and long-term investment over near-term consolidation.
New Zealand Dollar dips despite hotter inflation as firm US Dollar caps gains
NZD/USD trades around 0.5835 on Tuesday at the time of writing, down a modest 0.07% on the day despite support for the New Zealand Dollar (NZD) from stronger-than-expected inflation data.
British Pound: Funding concerns weigh on Sterling – Rabobank
Rabobank's Senior FX Strategist Jane Foley discusses United Kingdom (UK) markets’ reaction to PM Burnham’s new cabinet and fiscal plans, noting 10-year gilt yields above 5% and British Pound (GBP) weakness in G10.
Canadian Dollar: Tariff risks cap gains against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) has recovered overnight losses versus the US Dollar (USD) after news that President Trump may impose new tariffs on Canadian exports.
United States Redbook Index (YoY) fell from previous 8.2% to 7.8% in July 17
United States Redbook Index (YoY) fell from previous 8.2% to 7.8% in July 17
Euro gains against British Pound as Burnham’s fiscal stance weighs
EUR/GBP gains on Tuesday as doubts over the UK’s fiscal outlook weigh on the British Pound (GBP) following Andy Burnham’s appointment as Prime Minister. At the time of writing, the cross trades around 0.8527.
New Zealand Dollar: CPI supports further RBNZ hikes – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad reports NZD/USD has rallied toward a seven-week high after New Zealand Q2 Consumer Price Index (CPI) surprised slightly on the upside versus consensus but came in just below the Reserve Bank of New Zealand's (RBNZ) projection.
Aluminium: Output declines on regional disruptions – ING
ING’s Warren Patterson and Ewa Manthey highlight a softening Aluminium supply picture. Global primary output fell in June on both monthly and yearly bases, even as first-half production stayed broadly stable.
British Pound: Fiscal policy uncertainty and Sterling reaction – MUFG
Lee Hardman at MUFG highlights that the Pound has modestly recovered after losses following Andy Burnham’s appointment as UK Prime Minister, while long-dated gilts remain under pressure.
United States ADP Employment Change 4-week average declined to 16.5K in June 27 from previous 19.75K
United States ADP Employment Change 4-week average declined to 16.5K in June 27 from previous 19.75K