Market News
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British Pound: Funding concerns weigh on Sterling – Rabobank
Rabobank's Senior FX Strategist Jane Foley discusses United Kingdom (UK) markets’ reaction to PM Burnham’s new cabinet and fiscal plans, noting 10-year gilt yields above 5% and British Pound (GBP) weakness in G10.
Canadian Dollar: Tariff risks cap gains against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) has recovered overnight losses versus the US Dollar (USD) after news that President Trump may impose new tariffs on Canadian exports.
United States Redbook Index (YoY) fell from previous 8.2% to 7.8% in July 17
United States Redbook Index (YoY) fell from previous 8.2% to 7.8% in July 17
Euro gains against British Pound as Burnham’s fiscal stance weighs
EUR/GBP gains on Tuesday as doubts over the UK’s fiscal outlook weigh on the British Pound (GBP) following Andy Burnham’s appointment as Prime Minister. At the time of writing, the cross trades around 0.8527.
New Zealand Dollar: CPI supports further RBNZ hikes – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad reports NZD/USD has rallied toward a seven-week high after New Zealand Q2 Consumer Price Index (CPI) surprised slightly on the upside versus consensus but came in just below the Reserve Bank of New Zealand's (RBNZ) projection.
Aluminium: Output declines on regional disruptions – ING
ING’s Warren Patterson and Ewa Manthey highlight a softening Aluminium supply picture. Global primary output fell in June on both monthly and yearly bases, even as first-half production stayed broadly stable.
British Pound: Fiscal policy uncertainty and Sterling reaction – MUFG
Lee Hardman at MUFG highlights that the Pound has modestly recovered after losses following Andy Burnham’s appointment as UK Prime Minister, while long-dated gilts remain under pressure.
United States ADP Employment Change 4-week average declined to 16.5K in June 27 from previous 19.75K
United States ADP Employment Change 4-week average declined to 16.5K in June 27 from previous 19.75K
Mexico Retail Sales (MoM): -0.6% (May) vs previous 0.8%
Mexico Retail Sales (MoM): -0.6% (May) vs previous 0.8%
Mexico Retail Sales (YoY) fell from previous 4.4% to 1.6% in May
Mexico Retail Sales (YoY) fell from previous 4.4% to 1.6% in May
Turkish Lira: Rising inflation expectations pressure TRY – Commerzbank
Tatha Ghose at Commerzbank highlights that Turkey’s market-based inflation expectations for 2026 and 12 months ahead have risen again, undermining confidence in disinflation.
British Pound extends losses nearing 1.3400 as markets await Burnham’s policies
The British Pound (GBP) is one of the weakest performers among major currencies, extending its reversal against the US Dollar for the fourth consecutive week.
163.00: Why the Japanese Yen is close to year-to-date lows again
The Japanese Yen (JPY) continues to trade on the defensive against the US Dollar (USD), lingering near year-to-date highs just below the 163.00 handle.