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Singapore Dollar: Range-bound consolidation outlook against US Dollar – Commerzbank
Commerzbank’s Charlie Lay and Dr. Henry Hao note that USD/SGD has eased from 1.2800 to around 1.2700 as the softer US Dollar (USD) and global risk sentiment dominate.
US-Iran agree ceasefire deal, sinks Oil – RIA Novosti
The Russian agency RIA Novosti reported on Tuesday that Washington and Tehran agreed to a ceasefire, citing sources in Iran and Pakistan.
US Treasury yields fall as Hormuz progress eases inflation fears
US yields edge lower across the whole curve on Tuesday, following suit.
South Korean Won: Strength backed by tech flows against US Dollar – Societe Generale
Societe Generale analysts highlight that the Korean Won (KRW) has gained 12% versus the Dollar year-to-date, with USD/KRW falling from around 1560 in June to below 1380.
Chinese Yuan: Trade risks limit gains against US Dollar – OCBC
OCBC’s Sim Moh Siong and Christopher Wong note that reports of potential US tariffs on Chinese goods and the PBoC’s resistance to rapid Renminbi (RMB) gains are likely to limit further downside in USD/CNH.
The US Dollar Index stops paying for hawks who cannot vote
A non-voting regional Federal Reserve president published a conditional hold on Tuesday, tying the current target range to continued evidence that inflation is actually coming down, and the Dollar Index has not moved for it.
Forex Today: US Dollar stays on the back foot ahead of PCE
The US Dollar Index (DXY) is hovering below the 99.00 mark as traders squared positions ahead of a heavy Wednesday data slate and Federal Reserve (Fed) Chair Kevin Warsh's Jackson Hole address on Friday.
Singapore Dollar: Upside momentum eases against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that USD/SGD remains under mild downward pressure but short-term momentum is flat, keeping the pair in a tight intraday band around 1.2700.
Silver Price Forecast: XAG/USD reclaims 100-day SMA, eyes $70
Silver (XAG/USD) price registers modest gains on Tuesday, after briefly breaching the 100-day Simple Moving Average (SMA) at $68.38, pushing the white metal to a three-day low of $67.43 before making a U-turn and turning bullish. The XAG/USD pair trades at $68.86, up 0.55%,
Gold pulls back from $4,700 as Hormuz hopes cool haven demand
Gold price holds firm during the North American session as buyers fail to surpass the $4,700 level, exacerbating a retracement below a key psychological level, amid mixed US data and rising hopes for an end to the US-Iran conflict. XAU/USD traded at $4,641, down 0.2%.
USD/CAD Price Forecast: Bearish indicators keep the path tilted lower
USD/CAD edges lower on Tuesday, with the Canadian Dollar (CAD) drawing support from a weaker US Dollar (USD) as traders also assess the latest tit-for-tat tariff measures between the United States (US) and Canada.
Euro remains flat with Sterling despite upbeat German data
EUR/GBP traded around 0.8560 on Tuesday, little changed, as a run of stronger German data failed to give the Euro (EUR) a clear lift against a resilient Pound. The pair remains pinned near its 20 and 100-period Simple Moving Averages (SMA), with neither side able to force a break.
Japanese Yen remains vulnerable despite softer Greenback
USD/JPY extends its sideways movement below the 160.00 mark on Tuesday, holding modest gains despite a softer US Dollar (USD). The weaker Greenback has failed to lift the Japanese Yen (JPY), which is underperforming its major peers. At the time of writing, the pair trades around 159.30.