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Brent: Prices hold near $100 as Gulf risks persist – ING
ING analysts Warren Patterson and Ewa Manthey note that ICE Brent is still finding support around the $100/bbl level as geopolitical risks in the Persian Gulf outweigh an improving supply backdrop. They highlight recent attacks on Saudi infrastructure, adjustments in Kuwait and Saudi output and pricing, and lingering vulnerability in European natural gas storage ahead of winter.
BoJ’s Ueda: Japan's economy recovering moderately albeit with some weaknesses
Bank of Japan (BoJ) Governor Kazuo Ueda said on Tuesday that the Japanese economy is recovering moderately albeit with some weaknesses. Ueda added that price trend is approaching 2%.Â
Euro: Downtrend slows but further lows possible against US Dollar – UOB
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann note that EUR/USD briefly broke below 1.1180 to a 17‑month low before rebounding to close around 1.1220. Intraday, they expect consolidation inside a defined range.
Canadian Dollar softens as oil prices fall
The USD/CAD pair gathers strength to near 1.4275 during the early European trading hours on Tuesday. Falling crude oil prices drag the commodity-linked Canadian Dollar (CAD) lower against the US Dollar (USD). Canada’s Ivey Purchasing Managers Index (PMI) data is due later on Tuesday.
Indian Rupee declines further, RBI's policy awaited
The Indian Rupee (INR) trades lower against the US Dollar (USD) on Tuesday due to the continuous surge in global bond yields. The USD/INR pair rises to near 96.43, the highest level seen in over two months.
Germany Factory Orders n.s.a. (YoY) above forecasts (0%) in August: Actual (2.7%)
Germany Factory Orders n.s.a. (YoY) above forecasts (0%) in August: Actual (2.7%)
-10.6%: Germany’s Factory Orders fall in August, missed -1.0% estimates
Germany's Factory Orders dropped in August, suggesting that the country’s manufacturing sector activity lost momentum, according to the official data published by the Federal Statistics Office on Tuesday.
Germany Factory Orders s.a. (MoM) below expectations (-1%) in August: Actual (-10.6%)
Germany Factory Orders s.a. (MoM) below expectations (-1%) in August: Actual (-10.6%)
Denmark Industrial Production (MoM) increased to 0.9% in August from previous -5.5%
Denmark Industrial Production (MoM) increased to 0.9% in August from previous -5.5%
WTI Price Forecast: Bulls seem hesitant near $89.00 amid easing supply risks
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – edges higher during the Asian session on Tuesday, reclaiming the $89.00 mark and snapping a two-day winning streak. The black liquid, however, remains close to a four-week low, touched last Friday, amid mixed fundamental cues.
Gold recovers further from two-month low amid some USD profit-taking
Gold (XAU/USD) builds on its modest intraday bounce from the $4,100 neighborhood, or a two-month low, and climbs above $4,150 during the first half of the European session on Tuesday.
India HSBC Composite PMI declined to 55.9 in September from previous 56.5
India HSBC Composite PMI declined to 55.9 in September from previous 56.5
India HSBC Services PMI below forecasts (56.2) in September: Actual (55.2)
India HSBC Services PMI below forecasts (56.2) in September: Actual (55.2)