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"Risks to inflation are to upside": BoE's Bailey sounds a cautious note
Bank of England (BoE) Governor Andrew Bailey said on Tuesday that he does not think the United Kingdom (UK) economy is on the verge of a recession, with the latest data showing slightly stronger activity, according to Reuters.
Euro: ECB expectations support EUR against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret report that the Euro (EUR) is little changed near the low 1.16s as markets await Thursday’s European Central Bank (ECB) meeting, where a 25 bps hike and a hawkish tone are anticipated.
New Zealand Dollar retreats as Chinese imports fall short of expectations
NZD/USD declines 0.37% on Tuesday, trading around 0.5855 at the time of writing. The New Zealand Dollar (NZD) remains under pressure following the release of mixed trade data from China, New Zealand’s largest trading partner.
Japanese Yen: Carry unwind boosts gains against US Dollar - DBS
DBS Group Research economist Philip Wee notes that the Japanese Yen (JPY) has become the best-performing US Dollar Index (DXY) currency in 2026, with USD/JPY falling below its end-2025 level of 156.70.
Canadian Dollar: Loonie rally pauses before fresh gains - NBC
National Bank of Canada's (NBC) Marion and Dahms highlight a strong Canadian Dollar (CAD) rally in Q3, driven by positive data and higher Oil and Gold prices, which pushed USD/CAD briefly below 1.38. They warn that new U.S. tariffs and trade uncertainty raise downside risks to Canadian growth.
Copper: Record prices and Chile supply issues – Commerzbank
Commerzbank’s Norman Liebke highlights that LME 3‑month Copper has set a new all‑time high above USD 14,530 per ton, supported by strong US demand and anticipated import tariffs.
Brazilian Real: Election risks keep pressure on BRL against US Dollar – TD Securities
TD Securities highlights that BRL faces elevated election-related risks, with USD/BRL having tested its 200-day SMA resistance over the past month. Drawing parallels with 2014, the bank sees risks skewed toward higher USD/BRL as markets remain concerned about Brazil’s fiscal outlook.
Federal Reserve: Strong jobs and CPI risks – BNY
BNY Markets strategist John Velis says a strong United States (US) jobs report has pushed expectations for a September Federal Reserve (Fed) rate hike back above 60%, despite Governor Christopher Waller’s more cautious comments.
Euro holds steady as US Dollar struggles for traction
EUR/USD trades virtually flat near 1.1623 during American trading hours on Tuesday. The US Dollar (USD) struggles to hold its earlier gains, helping the Euro (EUR) recover from its intraday low.
European Central Bank: Clients see higher peak and later cuts – Deutsche Bank
Deutsche Bank’s Mark Wall and Michael Kirker report that survey respondents expect the European Central Bank (ECB) to continue hiking, with a strong bias toward another move in September and a terminal rate between 2.50% and 3.00%.
Canadian Dollar: Tariffs boost role as funding currency – TD Securities
TD Securities argues Canadian Dollar (CAD) is set to gain prominence as a global carry funding currency, with its carry/vol profile already comparable to Japanese Yen (JPY).
155.00: Why the Japanese Yen just broke through the level that could define a new range
USD/JPY has suffered a sharp technical breakdown below the key 155.00 psychological threshold, extending losses toward 153.00 amid thin holiday liquidity, unwinding carry trade positions, and renewed political focus on Japan's monetary framework.
British Pound: Sterling faces fiscal and BoE risks – Rabobank
Rabobank's Senior FX Strategist Jane Foley discusses how United Kingdom (UK) Chancellor Healey’s pro-growth rhetoric and commitment to fiscal rules have left questions over funding, with EUR/GBP still range-bound.