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British Pound rebounds as soft JOLTS and Oil decline pressure USD
The Pound Sterling (GBP) recovers some ground against the US Dollar (USD) on Tuesday, up 0.14%, as US jobs data was softer than expected but confirmed the strength of the labor market, with layoffs being little changed. The GBP/USD pair trades at 1.3451 after rebounding from 1.3419.
Euro holds above 1.1500 on Hormuz reopening hopes and softer US jobs data
EUR/USD holds firm above 1.1500 on Tuesday as traders assess the latest developments surrounding US-Iran talks and the possible reopening of the Strait of Hormuz.
Silver advances amid Hormuz reopening hopes
Silver (XAG/USD) trades with a mildly positive tone near $59.50 per troy ounce on Tuesday, up 2% for the day, but falling from recent highs and leaving the metal locked in a tight range.
United States 52-Week Bill Auction up to 3.88% from previous 3.86%
United States 52-Week Bill Auction up to 3.88% from previous 3.86%
US Dollar Index: Rally questioned as safe-haven role tested – Rabobank
Rabobank’s Senior FX Strategist Jane Foley notes the US Dollar (USD) has been the weakest G10 currency over the past week, with US Dollar Index (DXY) down about 2% from late July.
New Zealand GDT Price Index declined to 0.1% from previous 1.5%
New Zealand GDT Price Index declined to 0.1% from previous 1.5%
Asia FX: Yen-led winners and export backdrop – MUFG
Michael Wan at MUFG explains that South Korean Won (KRW), Thai Baht (THB), Singapore Dollar (SGD) and, to a smaller extent, Philippine Peso (PHP) are the main Asian FX beneficiaries if Japanese Yen strength persists, given their higher sensitivity to USD/JPY.
Denmark Currency Reserves climbed from previous 699.3B to 699.6B in July
Denmark Currency Reserves climbed from previous 699.3B to 699.6B in July
Euro: Consolidation below resistance against US Dollar – Scotiabank
Scotiabank’s analysts observe that the Euro is consolidating around the 1.15 area against the Dollar, with limited Eurozone data to drive price action.
Japanese Yen stalls amid soft JOLTS data
USD/JPY trades on the back foot near the 157.40 area during Tuesday's American session as the Japanese Yen (JPY) builds on the gains secured over the past week.
Canada: Trade surplus hits four-year high – NBC
National Bank of Canada’s (NBC) Jocelyn Paquet reports Canada’s merchandise trade surplus in goods reached a four-year high of C$3.86 billion in June, beating expectations.
Gold recovers as Hormuz reopening hopes drag US Dollar, Oil prices lower
Gold (XAU/USD) catches a fresh bid on Tuesday as traders react to encouraging headlines about the possible reopening of the Strait of Hormuz. At the time of writing, XAU/USD trades around $4,087, recovering from an intraday low near $4,042.
Fed's Paulson: Underlying inflation is too high
Anna Paulson, President of the Federal Reserve (Fed) Bank of Philadelphia, said in an interview with CNBC on Tuesday that underlying inflation remains too high and that monetary policy needs to stay mildly restrictive, adding that the current environment likely meets that description.