Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
Oil: Deal optimism drives sharp selloff – ING
ING strategists Warren Patterson and Ewa Manthey note that Oil prices, including ICE Brent, fell sharply on optimism over a potential US–Iran Middle East deal.
Australia RBA Commodity Index SDR (YoY) down to 15.4% in July from previous 16.9%
Australia RBA Commodity Index SDR (YoY) down to 15.4% in July from previous 16.9%
Silver Price Forecasts: XAG/USD reaches $59.00 amid cautious Iran peace hopes
Silver (XAG/USD) accelerates its recovery on Tuesday, reaching session highs above $59.00 at the time of writing, after bouncing from the $56.50 area on Monday.
Euro: Consolidation with upside trigger at 1.1565 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang highlights EUR/USD’s recent sharp rise and subsequent consolidation after a failed attempt to sustain gains above 1.1558. Intraday, the Euro is expected to trade between 1.1485 and 1.1540, while a close above 1.1565 could open the way toward 1.1600.
Saudi Aramco CEO Nasser: Middle East crisis continues to aggravate supply shock
Saudi Aramco CEO Amin H. Nasser said during the European trading session on Tuesday that the ongoing geopolitical crisis continues to aggravate the biggest supply shock in history.
Canadian Dollar declines ahead of US JOLTS Job Openings data
The USD/CAD pair gains ground to near 1.4050 during the early European session on Tuesday. Traders continue to weigh the developments surrounding US-Iran talks. The US JOLTS Job Openings data is due later on Tuesday. On Friday, the US and Canadian July employment reports will be the highlights.
GBP/USD Price Forecast: Downward-sloping trendline near 1.3470 remains key barrier
The British pound (GBP) faces selling pressure against its major currency peers, trading 0.1% lower at around 1.3420 against the US Dollar (USD) during the European trading session on Tuesday.
Swiss Franc weakens as July inflation cools to four-month lows
USD/CHF moves little after two days of gains, trading around 0.8100 during the Asian hours on Tuesday. The currency pair may appreciate further as the Swiss Franc (CHF) faces headwinds from easing domestic inflation.
Indian Rupee struggles for direction as RBI policy awaited
The Indian Rupee (INR) trades flat at around 95.33 against the US Dollar (USD) on Tuesday. The Indian currency is expected to trade sideways as investors await the Reserve Bank of India’s (RBI) monetary policy announcement on Wednesday.
WTI Price Forecast: Eyes $80.00 amid US-Iran tensions and mixed technical setup
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – builds on the previous day's modest bounce from levels just below the mid-$77.00s and gains some follow-through positive traction during the Asian session on Tuesday.
Euro flatlines above 1.1500 as traders turn cautious ahead of US JOLTS Job Openings data
The EUR/USD pair holds steady around 1.1505 during the early European trading hours on Tuesday. Markets remain cautious ahead of the US JOLTS Job Openings data, which is due on Tuesday. On Friday, the attention will shift to the crucial US July jobs report.
Gold extends range play above $4,050 as Fed hike bets and Iran risks underpin USD
Gold (XAU/USD) struggles to attract any meaningful buyers and trades below the $4,100 mark during the first half of the European session on Tuesday as traders opt to wait for further developments surrounding the Middle East crisis.
Indonesian Rupiah struggles amid geopolitical volatility, twin-deficit risks
USD/IDR halts its four-day losing streak, trading around 18,090 during the Asian hours on Tuesday. The currency pair is gaining upward momentum as the Indonesian Rupiah (IDR) faces persistent pressure.