Market News
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Iran took back the Dow Jones Industrial Average breakout
The Dow Jones Industrial Average broke the three-session coil that had pinned it beneath its record, traded up through 54,200, and has since surrendered the entire move.
USD/CHF Price Forecast: Buyers struggle to clear the 21-day SMA
USD/CHF trades with a positive bias on Tuesday as the US Dollar (USD) consolidates its recent gains ahead of Wednesday’s US Consumer Price Index (CPI) data. Price action has stabilized above the 50-day Simple Moving Average (SMA) following a sharp pullback from above 0.8200 in late July.
Euro: Consolidation holds in mid 1.15s against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret highlight that the Euro (EUR) is steady, extending a tight consolidation around the mid-1.15s after the Dollar’s late-July Fed-driven decline.
New Zealand Dollar remains under pressure as Middle East tensions support US Dollar
NZD/USD trades around 0.5880 on Tuesday at the time of writing, virtually unchanged on the day with a 0.03% decline.
British Pound holds near 1.3500 as US CPI, UK GDP loom
The Pound Sterling (GBP) holds firm against the US Dollar (USD) on Tuesday following the release of softer-than-expected US jobs data, while investors await US inflation data on Wednesday and UK GDP releases on Thursday. At the time of writing, the GBP/USD pair trades at 1.3508, nearly unchanged.
Japanese Yen: Intervention risks and Fed path – Rabobank
Rabobank's Senior FX Strategist Jane Foley discusses USD/JPY ahead of the United States (US) July Consumer Price Index (CPI) release, highlighting how softer US inflation could weaken the Dollar and lower the odds of another break above USD/JPY160.
Canadian Dollar holds firm against US Dollar ahead of US CPI
USD/CAD trades under pressure on Tuesday, staying on the back foot for a third straight day. However, the pair lacks follow-through selling as the US Dollar (USD) holds firm ahead of Wednesday’s US Consumer Price Index (CPI) data.
Australian Dollar: RBA policy path caps upside against US Dollar – Societe Generale
Societe Generale’s Kenneth Broux highlights ongoing pressure on the Australian Dollar after the RBA removed one projected rate hike, keeping the cash rate at 4.35% and projecting the policy rate around 4.40% through 2028.
EUR/GBP slips as bearish pressure mounts
EUR/GBP is trading on the lower end of its weekly range near the 0.8540 price zone on Tuesday.
Canadian Dollar: Bullish momentum builds against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is supported by higher Oil prices and Friday’s strong Canadian jobs data versus weaker US labour figures.
Euro: Gradual appreciation path against US Dollar – Commerzbank
Commerzbank's Chief Economist Dr. Jörg Krämer expects EUR/USD to recover once the Iran conflict eases and to grind higher over the coming quarters.
Japanese Yen: Oil prices keep USD/JPY near 160 resistance - BBH
Brown Brothers Harriman’s (BBH) Elias Haddad explains USD/JPY has retraced half of its post-intervention drop, with US–Japan rate spreads already narrowing in favor of the Japanese Yen (JPY).
Australian Dollar trades near weekly high after RBA decision
AUD/USD trades moderately higher above the 0.7060 price region after the Reserve Bank of Australia (RBA) left interest rates unchanged at 4.35% in a unanimous decision at the August monetary policy decision.