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Japanese Yen: Managed JPY signals new order – Rabobank
Rabobank’s Senior Market Strategist Benjamin Picton highlights coordinated action between the US Treasury and Japan’s Ministry of Finance (MoF) to defend the Japanese Yen (JPY), framing it as a potential “financial Fort Sumter” in capital markets.
Euro advances as ECB tightening expectations, Japan fiscal concerns weigh on Yen
EUR/JPY trades around 181.70 on Tuesday, up 0.44% on the day at the time of writing, supported by renewed optimism surrounding the Euro (EUR) and persistent weakness in the Japanese Yen (JPY).
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Tuesday, according to FXStreet data. Silver trades at $58.86 per troy ounce, up 1.15% from the $58.19 it cost on Monday.
South African Rand: Rate hold seen hurting currency – Commerzbank
Commerzbank’s Volkmar Baur writes that despite South Africa’s reasonable recent performance under pressure from the Iran conflict, the central bank’s July decision to leave its key rate unchanged was surprising.
US Dollar: NFP and inflation mix complicate Fed path – BNY
BNY strategists John Velis and David Tam highlight the July Nonfarm Payrolls (NFP) report and upcoming Consumer Price Index (CPI) releases as key inputs for the Fed. They see consensus around 80,000 jobs, with a breakeven near 50,000 to keep unemployment steady.
New Zealand Dollar: Jobs data and RBNZ hiking path – ING
ING’s Francesco Pesole expects New Zealand’s Q2 labour data to broadly match the Reserve Bank of New Zealand’s May projections, which implied one to two hikes in Q3. He favours a hike in September or October, with rising conviction for September.
NZD/USD Price Forecast: Holds steady near 0.5870 as bullish bias remains
The NZD/USD pair seesaws between tepid gains and minor losses through the first half of the European session on Tuesday, stalling the previous day's retracement slide from a two-month high – levels just above the 0.5900 mark.
Euro holds ground as Eurozone growth data offsets oil-driven CAD gains
EUR/CAD remains stronger for the eighth consecutive day, trading around 1.6170 during the European hours on Tuesday. The currency cross is holding its ground as the Euro (EUR) gains support from an uptick in market risk sentiment.
Japanese Yen: Joint intervention threat curtails selling – MUFG
MUFG’s Lee Hardman notes that the Japanese Yen has weakened modestly in Asia, with USD/JPY near its 200‑day moving average around 158.00 after recent joint intervention by Japan and the US.
Spain 6-Month Letras Auction climbed from previous 2.385% to 2.496%
Spain 6-Month Letras Auction climbed from previous 2.385% to 2.496%
EUR/USD Price Forecast: Needs to take out 1.1600 decisively for fresh upside
The Euro (EUR) trades with caution at around Monday’s low of 1.1500 against the US Dollar (USD) during the European trading session on Tuesday.
Australian Dollar: Upside risk capped by 0.7075 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang reports AUD/USD briefly tested 0.7069 before retreating sharply to 0.6984, with the move seen as overdone. Intraday, the Australian Dollar is expected to range between 0.6980 and 0.7030.
USD/CAD Price Forecast: Forming a triangle pattern above 1.4000 support area
The US Dollar (USD) stalls at the 1.4050 area against the Canadian Dollar (CAD) on Tuesday. The pair’s rebound from last week’s lows at the 1.3990 area failed to find follow-through above 1.4060, which leaves price action treading towards the peak of a descending triangle pattern.