Market News
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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.
Australian Dollar: CPI keeps RBA on hold bias – ING
ING’s Francesco Pesole expects Australia’s July inflation data to show further moderation, consistent with no additional Reserve Bank of Australia hikes this year. He argues Governor Bullock is likely to stay hawkish, and even a small inflation surprise could lift AUD.
Hungarian Forint: MNB tone shift watched – Commerzbank
Commerzbank’s Tatha Ghose expects Hungary's central bank, Magyar Nemzeti Bank (MNB), to cut its base rate by 25bp to 5.50%, but stresses that guidance will matter more for the Forint. While headline inflation has surprised on the downside, core and services pressures and energy risks persist.
Euro holds gains against Canadian Dollar on upbeat German IFO data
EUR/CAD extends its gains for the second consecutive day, trading around 1.6160 during the European hours on Tuesday. The currency cross remains stronger as the Euro (EUR) holds gains following the release of the German IFO business sentiment index data.
British Pound extends gains to fresh monthly peak, around mid-217.00s vs weaker Yen
The GBP/JPY cross catches fresh bids on Tuesday and climbs to its highest level since July 30, around mid-217.00s during the first half of the European session.