Market News
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Gold takes a breather after climbing to a fresh three-month high, US PCE in focus
Gold (XAU/USD) remains under pressure on Tuesday after setting a fresh three-month high of $4,697 earlier in the day. Traders appear to be booking some profits following the recent rally, which has pushed the Relative Strength Index (RSI) into overbought territory.
US Dollar: Debasement fears meet historical skepticism – MUFG
MUFG analysts Derek Halpenny and Abdul-Ahad Lockhart note that the Dollar Index (DXY) is consolidating after a modest rebound, even as markets focus on US fiscal concerns, Treasury buybacks and perceived USD debasement.
Euro stands above 1.1650, supported by upbeat German macroeconomic data
The Euro (EUR) remains practically flat against the US Dollar (USD) on Tuesday, trading above 1.1650, at a relatively short distance from the three-month highs, at 1.1710 hit last week.
Gold Price Forecast: XAU/USD holds onto early losses near $4,630, US Yields plunge
Gold price (XAU/USD) is down 0.4% to near $4,630 during the European trading session on Tuesday. The precious metal corrects after failing to extend the rally above $4,700 earlier in the day.
British Pound: Dovish repricing points to weakness against Euro – ING
ING’s Francesco Pesole observes EUR/GBP has slipped back to the 0.8550-0.8560 area as the earlier Euro premium fades and bond market calm returns.
Euro advances against Japanese Yen as German business sentiment improves
EUR/JPY advances to around 185.85 on Tuesday at the time of writing, gaining 0.15% on the day.
Hungarian Forint: Holding firm against Euro below key resistance - Societe Generale
Societe Generale strategists expect Hungary's central bank, Magyar Nemzeti Bank (MNB), to cut rates by 25 bp to 5.50% today, with dovish July minutes and softer-than-expected inflation leaving room for further easing.
Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Tuesday, according to FXStreet data. Silver trades at $67.82 per troy ounce, down 0.97% from the $68.48 it cost on Monday.
Canadian Dollar: Tariff risks cloud outlook – Commerzbank
Michael Pfister at Commerzbank assesses the potential impact of higher US auto tariffs on Canada and the Canadian Dollar.
Japanese Yen: Range trade within 157.90 and 159.80 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann describe USD/JPY as locked in a range-trading phase, with a slightly firmer tone keeping the pair in a higher intraday band of 158.80–159.45.
Silver Price Forecast: XAG/USD faces rejection near $70.00 as upside momentum fades
Silver (XAG/USD) continues its struggle to make it through the $70.00 psychological mark and turns lower for the second straight day on Tuesday.
Indian Rupee: Range holds against US Dollar as inflows offset trade drag – DBS
DBS economist Radhika Rao observes that strong FCNR (B) swap inflows and higher FX reserves have not translated into significant Rupee gains, with USD/INR staying in a tight 95.50–96.00 range.
Dow Jones futures advance as tech stocks rebound ahead of looming Nvidia earnings
Dow Jones futures gain by 0.18%, trading around 53,590 during European hours on Tuesday. Meanwhile, S&P 500 futures advance by 0.28%, to trade near 7,690, and Nasdaq 100 futures rise by 0.58% to trade around 29,270.