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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.
Canadian Dollar dips as Oil slump, dovish BoC outlook underpin USD
USD/CAD gains 0.27% on Tuesday and trades around 1.4070 at the time of writing, supported by weakness in the Canadian Dollar (CAD).
Oil: Headlines drive vulnerability â TD Securities
TD Securitiesâ Ryan McKay and Bart Melek highlight that elevated speculative positioning leaves Crude Oil vulnerable to shifting headlines around Middle East supply routes.
USD/JPY Price Forecast: Recovery stalls below key moving averages
USD/JPY trades flat on Tuesday as the Japanese Yen (JPY) holds firm in thin holiday trading during Japanâs Silver Week. However, a broadly stronger US Dollar (USD) keeps the Yenâs gains in check. At the time of writing, USD/JPY trades around 157.46.
Bank of Canada: Slack delays hikes despite crude shock â NBC
National Bank of Canada's Ethan Currie notes that while oil-driven inflation risks have increased, the Bank of Canada is likely to remain on hold in October as domestic slack and trade uncertainty continue to weigh on the economic outlook.
Trump sees post-election Iran deal, calls for pressure to stay
US President Donald Trump said at the UN General Assembly that âwe must be united in maintaining pressure on Iran,â adding that he believes that the US and Iran will strike a deal following the US midterm elections in November.
United States: September inflation profile â TD Securities
TD Securities economists Oscar Munoz and Eli Nir provide an early projection for United States (US) September Consumer Price Index (CPI , expecting Headline CPI to rise 0.54% m/m, driven mainly by an almost 8% jump in gasoline and firmer food prices.
Natural gas: Price downside limited â Commerzbank
Norman Liebke at Commerzbank argues that European gas prices may see only limited further declines despite a brief 8% drop on USâIran diplomatic headlines.
Canadian Dollar: USD strength keeps CAD weakness in focus - Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note that the Canadian Dollar (CAD) is largely unchanged, with Governor Macklemâs comments leaving the Bank of Canada (BoC) outlook broadly consistent with the latest policy statement.
Fedâs Collins: More restrictive policy should help inflation return to 2%
Boston Federal Reserve (Fed) President Susan Collins said in a LinkedIn post on Tuesday that she supported last weekâs interest-rate hike and sees a somewhat more restrictive policy stance as appropriate to bring inflation sustainably back to the Fed's 2% target.
Risk sentiment improved and Oil prices fell: Why the US Dollar is still holding firm
The US Dollar (USD) remains on a solid footing following a hawkish Federal Reserve (Fed) interest rate decision and persistent hawkish rhetoric from Fed officials.
Euro remains cautious as Middle East headlines, Fed outlook drive sentiment
EUR/USD is little changed on Tuesday as the US Dollar (USD) gives back earlier gains following fresh diplomatic signals surrounding the war between the United States (US) and Iran.