Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
Switzerland Producer and Import Prices (YoY) fell from previous -1.8% to -2.1% in June
Switzerland Producer and Import Prices (YoY) fell from previous -1.8% to -2.1% in June
Switzerland Producer and Import Prices (MoM) climbed from previous -0.4% to -0.3% in June
Switzerland Producer and Import Prices (MoM) climbed from previous -0.4% to -0.3% in June
Indian Rupee: Higher Oil and trade risks weigh on INR – Commerzbank
Commerzbank’s Dr. Henry Hao and Moses Lim highlight that India’s June Consumer Price Index (CPI) rose to 4.4% year-on-year, driven by food and fuel, while the trade deficit widened to USD30.4bn.
Japanese Yen edges up against the US Dollar but remains close to 40-year lows
The Japanese Yen (JPY) is trimming losses against the US Dollar (USD) on Tuesday, as the USD/JPY pair retreats to the 162.30 area at the European session opening, down from session highs near 162.50.
Gold: Fed inflation fears weigh on prices – ING
ING analysts Warren Patterson and Ewa Manthey say Gold and Silver have sold off as Middle East tensions lift Oil and reinforce concerns over persistent inflation and a tighter Federal Reserve policy path.
Euro: Downside bias but key support holds against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann report that EUR/USD slid to 1.1377 and closed at 1.1381, a two‑week low, as the Dollar strengthened ahead of United States (US) Consumer Price Index (CPI).
EUR/USD Price Forecast: Brace for a further sell-off toward 1.1200
The Euro (EUR) is up 0.12% to near 1.1395 against the US Dollar (USD) during the early European trading session on Tuesday. The major currency pair rises as the US Dollar corrects ahead of the United States (US) Consumer Price Index (CPI) data for June, which will be published at 12:30 GMT.
Indian Rupee slumps as oil prices surge, US CPI data awaited
The Indian Rupee trades significantly lower against the US Dollar (USD) on Tuesday. The USD/INR pair posts a fresh seven-week high near 96.20 as surging oil prices and United States (US) Treasury Yields due to threats of levy from Washington have weakened the appeal of the Indian currency.
Gold sticks to gains above $4,000; lacks bullish conviction ahead of US CPI, Fed's Warsh
Gold (XAU/USD) trims a part of its modest intraday recovery gains and remains within striking distance of a nearly two-week low touched earlier this Tuesday.
British Pound falls as Oil shock boosts the US Dollar
The Pound Sterling begins the week on a lower note, as over-the-weekend developments in the Middle East fueled inflation expectations due to the rise in Oil prices. At the time of writing, the GBP/USD trades at 1.3369, down over 0.20%.
Dow Jones Industrial Average wobbles while Washington opens a toll booth in the Strait of Hormuz
Risk aversion set Monday's tone, and the Dow Jones Industrial Average wore it better than most of its peers; the index trades near 52,525, down 117 points or 0.2%, while the Nasdaq Composite sheds 1% and the S&P 500 gives back 0.4%.
Canadian Dollar gains as Oil prices surge on Middle East supply risks
The Canadian Dollar (CAD) outperforms most of its major peers on Monday as renewed tensions in the Middle East push Oil prices higher amid fresh risks of supply disruption in the Strait of Hormuz.
Commodities: Forward curves and carry framework – Societe Generale
Societe Generale’s Michael Haigh and Jeremy Sellem note that the commodity complex has been resilient to Middle East tensions, with Oil gains capped and forecasts for prices at $70 by year end unchanged.