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Mexican Peso carry cushion thins as USD/MXN breaks 100-day SMA
The Mexican Peso (MXN) extended its losses for the third straight trading session on Tuesday, down over 0.4% as investors reduce their exposure to the Mexican currency following last week’s Federal Reserve (Fed) decision to raise interest rates.
Taiwan Dollar: Equity inflows support TWD againt US Dollar – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong highlight that the Taiwan Dollar (TWD) has extended gains, briefly strengthening near 31.71 versus the US Dollar (USD), supported by strong foreign portfolio inflows and domestic equity outperformance tied to tech and AI themes.
Gold losses altitude as peace hopes meet hawkish Fed bets
Gold (XAU/USD) price retreats from daily highs of $4,376 on Tuesday as US Treasury yields rise and the US Dollar continues to strengthen, with investors pricing in further Federal Reserve (Fed) tightening towards year-end. At the time of writing, XAU/USD trades at $4,337, down 0.14%.
Asia FX: AI-driven support for regional currencies – MUFG
MUFG’s Michael Wan notes that improved risk sentiment and AI optimism around Meta’s Muse supported a slightly stronger Dollar and stable DM yields.
Forex Today: Advanced PMIs in the limelight, but what about the UN General Assembly?
The US Dollar (USD) has extended its recovery on Tuesday, climbing to new multi-week highs on the back of steady bets for extra Fed tightening, while increasing hopes of a potential deal to unlock the US-Iran-Hormuz conflict seem to have been ignored by market participants.
Chinese Yuan: Gradual decline within tight bands – UOB
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann expect USD/CNH to edge lower intraday but stay confined to a narrow 6.6890–6.6960 range, with a clear break below 6.6890 seen as unlikely. Over one to three weeks, they see downside extending toward 6.6820 as momentum builds.
WTI extends decline as Trump signals progress in talks with Iran
West Texas Intermediate (WTI) Oil extends its decline on Tuesday as traders assess fresh Middle East developments, keeping energy prices under pressure for a fifth straight day. At the time of writing, WTI trades around $89.50, near a two-week low.
Trump signals diplomatic push on Ukraine and Iran as diesel ban looms
US President Donald Trump is figuring out a solution to end the war between Russia and Ukraine, after meeting with Ukrainian President Volodymyr Zelenskyy. Furthermore, he added that Russian President Vladimir Putin is willing to meet to end the war.
South Korean Won: Export surge supports KRW recovery – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong report that the Korean Won (KRW) strengthened alongside gains in tech equities, lower Oil prices and strong export data, including a surge in semiconductor shipments.
US Dollar Index pushes higher on the case for another Fed increase
The Dollar Index trades near 100.70, its highest level since late July. It has climbed through five straight sessions of falling Crude Oil, the opposite of how the war has moved it for most of this year. The Fed is the reason.
Fed’s Barkin backs rate hike, stays unsure on more increases
Richmond Federal Reserve (Fed) President Thomas Barkin said on Tuesday that the Federal Open Market Committee (FOMC) decided to raise interest rates last Wednesday because inflation risks outweighed those to maximum employment.
British Pound sinks as USD shrugs off Hormuz reopening hopes
The Pound Sterling (GBP) dives over 0.17% against the US Dollar (USD) on Tuesday amid newswire reports that Tehran intends to reopen the Strait of Hormuz if the United States meets certain conditions. At the time of writing, GBP/USD trades at 1.3343 after peaking at 1.3387.
Dow Jones Industrial Average drops from a weekly high as bank shares slide
The Dow Jones Industrial Average (DJIA) rose on Tuesday to its highest level since September 14 before the opening bell, then turned lower once trading started in New York. It trades near 51,800, below Monday's close. The NASDAQ Composite tested record highs and the S&P 500 is barely changed.