Market News
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United States New Home Sales Change (MoM) declined to -10.5% in July from previous 1.6%
United States New Home Sales Change (MoM) declined to -10.5% in July from previous 1.6%
Gold: Overbought rally eyes key resistance – UOB
UOB’s Quek Ser Leang notes that Spot Gold remains in a broader uptrend after breaking above a key declining trendline and reaching an intraday high near $4,700.
Copper: Supply setbacks push market into deficit – Commerzbank
Commerzbank’s Barbara Lambrecht notes Copper prices are rising again as ICSG data show a significant June deficit and a sharply reduced year‑to‑date surplus.
Euro stays near three-month high as US Dollar remains subdued
EUR/USD holds modest gains on Tuesday as the latest Middle East developments fail to trigger a strong market reaction, while the US Dollar (USD) struggles to recover from last week’s sell-off sparked by the US Treasury’s decision to increase buybacks of longer-dated government securities.
Canadian Dollar: Trading near fair value against US Dollar - Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret describe USD/CAD trading close to their fair value estimate around 1.3842 as the Canadian Dollar (CAD) reacts to trade headlines and weaker Oil prices.
US Dollar: Bond market supports cautious consolidation – ING
ING’s Francesco Pesole notes the Dollar is drawing support from the US bond market as long-dated yields stabilise, while US-Canada trade tensions and Iran-related sanctions risks complicate the outlook.
United States Housing Price Index (MoM) registered at 0%, below expectations (0.2%) in June
United States Housing Price Index (MoM) registered at 0%, below expectations (0.2%) in June
United States S&P/Case-Shiller Home Price Indices (YoY) came in at 2.1%, above expectations (1.7%) in June
United States S&P/Case-Shiller Home Price Indices (YoY) came in at 2.1%, above expectations (1.7%) in June
Belgium Leading Indicator below expectations (-10.5) in August: Actual (-13.2)
Belgium Leading Indicator below expectations (-10.5) in August: Actual (-13.2)
United States Redbook Index (YoY): 9.1% (August 21) vs 7.6%
United States Redbook Index (YoY): 9.1% (August 21) vs 7.6%
Gold: Tariff conflict fuels safe haven bid – Commerzbank
Commerzbank’s Carsten Fritsch reports that Gold has surged to a three‑month high near USD 4,700 per ounce as US–Canada tariff tensions escalate and concerns over US debt intensify. Silver and Platinum have also rallied.
New Zealand Dollar defies stronger US Dollar as RBNZ rate hike bets offer support
NZD/USD edges slightly higher on Tuesday and trades around 0.5965 at the time of writing, up 0.08% on the day.
Australian Dollar: RBA risks and carry support – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes the Australian Dollar (AUD) largely ignored the Reserve Bank of Australia's (RBA) August Minutes, which reiterated Governor Michele Bullock’s warning that another rate hike is quite possible.