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British Pound: Political risks and BoE stance shape outlook – Rabobank
Rabobank's Senior FX Strategist Jane Foley discusses British Pound (GBP) prospects around UK welfare reform, shifting voter polls and the upcoming Bank of England (BoE) decision. Foley highlights how PM Burnham’s fiscal choices and intra-Labour tensions could affect gilts and the Pound.
United States Redbook Index (YoY) up to 8.3% in July 24 from previous 7.8%
United States Redbook Index (YoY) up to 8.3% in July 24 from previous 7.8%
Trump downplays escalation risks while warning Iran against breaking agreements
In an interview with Fox News, US President Donald Trump said that Pickaxe Mountain, an Iranian underground nuclear site, is not a big problem, adding that the United States (US) is now in a very strong position with Iran.
United States Housing Price Index (MoM) registered at 0.3% above expectations (0.2%) in May
United States Housing Price Index (MoM) registered at 0.3% above expectations (0.2%) in May
United States S&P/Case-Shiller Home Price Indices (YoY) registered at 1.6% above expectations (1.3%) in May
United States S&P/Case-Shiller Home Price Indices (YoY) registered at 1.6% above expectations (1.3%) in May
Copper: Tight supply underpins constructive outlook – ING
ING strategists Warren Patterson and Ewa Manthey highlight that Copper has extended its July gains as easing Middle East tensions lift sentiment. They point to tight physical conditions, low inventories and firm Chinese import demand as key supports.
Federal Reserve: Scenarios into FOMC – DBS
DBS Group Research economist Eugene Leow notes that investors remain cautious on upcoming FOMC decisions, with markets pricing a 34% chance of a July hike and nearly full odds for September.
Euro nears three-week high against British Pound on UK fiscal concerns, BoE outlook
EUR/GBP holds firm on Tuesday, extending its recovery from the more than one-year low touched earlier this month as diverging monetary policy expectations between the European Central Bank (ECB) and the Bank of England (BoE), along with UK fiscal concerns, weigh on the British Pound (GBP).
New Zealand Dollar struggles as firm US Dollar keeps NZD/USD pinned
NZD/USD trades around 0.5770 on Tuesday at the time of writing, slightly lower on the day. The New Zealand Dollar (NZD) remains pressured by the firm US Dollar (USD), which continues to benefit from safe-haven demand amid persistent geopolitical tensions.
United States Wholesale Inventories above forecasts (0.2%) in June: Actual (0.3%)
United States Wholesale Inventories above forecasts (0.2%) in June: Actual (0.3%)
United States Goods Trade Balance below forecasts ($-98B) in June: Actual ($-101.5B)
United States Goods Trade Balance below forecasts ($-98B) in June: Actual ($-101.5B)
US ADP Employment Change 4-week average drops to 15K
Private-sector hiring in the US has further cooled in mid-July. According to the NER Pulse, the weekly companion to the ADP National Employment Report, companies added an average of 15K jobs per week in the four weeks ending July 11.
United States ADP Employment Change 4-week average: 15K (July 4) vs previous 16.5K
United States ADP Employment Change 4-week average: 15K (July 4) vs previous 16.5K