Market News
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USD/CAD Price Forecast: Could surpass 1.3900 as break above 38.2% Fibo. comes into play
The USD/CAD pair is seen building on its recovery move from the 1.3730 region, or a three-month low touched last week, and gaining positive traction for the second straight day on Tuesday.
New Zealand Dollar falls as US Dollar gains on safe-haven demand
NZD/USD extends its losses for the second successive day, trading around 0.5950 during the European hours on Tuesday. The currency pair faces downward pressure as the US Dollar (USD) gains strength from safe-haven demand driven by rising geopolitical tensions.
China says its cooperation with Iran should not be disrupted - Reuters
In a Reuters report on Tuesday, a Chinese Foreign Ministry spokesperson, Lin Jian, said that its cooperation with Iran is conducted within the framework of international law and should not be interfered with or disrupted when asked about new United States (US) sanctions related to Iran.
Copper: Tight inventories sustain price support – ING
ING analysts Warren Patterson and Ewa Manthey say Copper remains underpinned by tight LME inventories and strong US-bound flows.
Forex Today: US Dollar recovers modestly as markets assess developments in Mideast
Here is what you need to know on Tuesday, August 25:
Euro remains depressed against British Pound despite upbeat German GDP figures
The Euro (EUR) extends losses for the fourth consecutive day against the British Pound (GBP) on Tuesday, testing weekly lows in the 0.8550 area despite the upward revision to German Q2 Gross Domestic Product (GDP) earlier in the day.
Swiss Franc: Export strains with strong CHF – Commerzbank
Commerzbank’s Michael Pfister analyses how the strong Swiss Franc (CHF) and an undervalued Chinese Yuan (CNY) are weighing on Switzerland’s export competitiveness.
France Consumer Confidence registered at 86, below expectations (87) in August
France Consumer Confidence registered at 86, below expectations (87) in August
Equities: Semiconductor selloff pressures Wall Street - Deutsche Bank
Deutsche Bank strategists describe a cautious session for United States (US) equities, with the S&P 500 slipping as AI‑chip names sold off ahead of Nvidia’s earnings. While the equal‑weighted S&P approached record highs, headline indices were dragged lower by semiconductor weakness.
USD/JPY Price Forecast: US Dollar keeps crawling towards the key 160.00 area
The Japanese Yen (JPY) remains on the defensive against the US Dollar (USD) on Tuesday, in a low-volatility market, as investors await key data releases and the Jackson Hole symposium, due in the second half of the week, to make decisions.
Euro: Further gains eyed toward 1.1800 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann keep a constructive stance on EUR/USD despite recent consolidation around 1.1660. They still see room for upside toward 1.1725 in the coming weeks as long as support at 1.1630 holds.
Germany Gross Domestic Product (YoY) above expectations (0.9%) in 2Q: Actual (1%)
Germany Gross Domestic Product (YoY) above expectations (0.9%) in 2Q: Actual (1%)
Germany Gross Domestic Product w.d.a (YoY) rose from previous 0.9%Â to 1% in 2Q
Germany Gross Domestic Product w.d.a (YoY) rose from previous 0.9%Â to 1% in 2Q