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Euro softens against Canadian Dollar amid ECB caution, oil strength
EUR/CAD halts its three-day winning streak, trading around 1.6100 during the European hours on Tuesday.
Iran’s Qalibaf: If Iran cannot sell its oil, no one can in the region
Iran's parliament speaker Mohammad Bagher Qalibaf says during the European trading session on Tuesday that no one in the region shall sell its oil if Iran cannot sell its oil, according to state media, Reuters report.
Italy Industrial Sales n.s.a. (YoY) registered at 4.8% above expectations (0%) in July
Italy Industrial Sales n.s.a. (YoY) registered at 4.8% above expectations (0%) in July
Italy Industrial Sales s.a. (MoM) rose from previous -1%Â to 0.6% in July
Italy Industrial Sales s.a. (MoM) rose from previous -1%Â to 0.6% in July
USD/CAD Price Forecast: Likely revisit five-month high at around 1.4250
The US Dollar (USD) is up 0.12% at around 1.4190 against the US Dollar (USD) during the European trading session on Tuesday.
USD/JPY: Intervention threat caps upside – MUFG
MUFG’s Lee Hardman notes that Japanese Yen strength has persisted as USD/JPY pulled back toward 156.50 on Monday, with policymakers stepping up verbal warnings on currency weakness and signalling readiness to intervene.
EUR/USD: Lagarde’s dovish tilt weighs on Euro – ING
Francesco Pesole at ING says EUR/USD downside risks have increased after dovish comments from European Central Bank (ECB) President Christine Lagarde, which widened SOFR-ESTR spreads and tempered expectations for an October ECB hike.
AUD/USD: RBA hike fails to lift Aussie – MUFG
Lee Hardman at MUFG highlights that the Australian Dollar has slipped back below 0.7000 against the US Dollar, testing the 200-day moving average near 0.7030.
US Treasuries: Yields near multi-decade highs – Deutsche Bank
Deutsche Bank analysts describe a renewed selloff in US Treasuries, with the 10-year yield around 5.25%, close to its 2007 peak and highest levels since 2002 if breached.
AUD/USD: RBA hike fails to lift Australian Dollar – ING
ING’s Francesco Pesole reports the Reserve Bank of Australia (RBA) raised rates to 4.60% as expected, but AUD/USD fell below 0.700 as Governor Michele Bullock revealed policymakers had considered holding rates due to housing and global risks.
Swiss Franc languishes at 16-month lows despite bright KOF leading Indicators data
The Swiss Franc (CHF) extends losses for the fifth consecutive day against a firm US Dollar (USD) on Tuesday, unfazed by the unexpected improvement in the KOF leading Indicator report seen earlier in the day.
Swiss Franc: One-off export surge tempers SNB response – Commerzbank
Michael Pfister at Commerzbank notes that Switzerland’s strong 1.9% quarter-on-quarter growth was driven mainly by net exports, particularly to the Euro area excluding Germany, rather than a broad-based domestic upswing.
S&P 500: Higher yields pressure equities – Deutsche Bank
Deutsche Bank’s Early Morning Reid notes that rising US yields and Oil prices are weighing on equities. The S&P 500 fell nearly 0.8%, led by larger declines in the Magnificent 7, while defensive sectors such as consumer staples and healthcare posted modest gains.