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Copper: Booming prices face supply risks – Commerzbank
Commerzbank’s Barbara Lambrecht highlights that Copper prices on the LME are close to record highs, with an unusually large cash–3‑month spread driven by falling LME stocks and tariff-related pre‑emptive buying in the US.
Euro: Bullish momentum targets mid-1.17s – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note the Euro (EUR) is resilient around 1.1576, with Germany’s ZEW survey showing improving expectations and a slow recovery backdrop. Short-term EUR/USD technicals are described as bullish, with strong intraday and daily momentum.
British Pound steadies as weak US data counters Iran risk
The Pound Sterling steadies on Tuesday as geopolitical tensions rise in the Middle East, while housing data misses estimates and US Industrial Production decelerates. The GBP/USD trades at 1.3547.
British Pound: Soft UK jobs but supportive mix - BBH
Brown Brothers Harriman’s (BBH) Elias Haddad describes United Kingdom (UK) June labor data as soft, with unemployment stuck at 4.9% and private sector regular pay growth slowing to 2.8% year-on-year.
Australian Dollar remains resilient near two-month high ahead of Fed Minutes
AUD/USD edges higher on Tuesday and trades around 0.7115 at the time of writing, up 0.1% on the day.
Canadian Dollar: Further gains eye 1.35–1.37 against US Dollar - Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret report USD/CAD trading near equilibrium around 1.3870, with Canadian Dollar (CAD) fundamentals supported by narrower front-end spreads and firm crude prices. They see investors relatively unconcerned by looming US tariff deadlines.
United States Pending Home Sales (YoY) fell from previous -0.3% to -2.2% in July
United States Pending Home Sales (YoY) fell from previous -0.3% to -2.2% in July
United States Pending Home Sales (MoM) came in at -2.3%, below expectations (0.3%) in July
United States Pending Home Sales (MoM) came in at -2.3%, below expectations (0.3%) in July
Euro consolidates below two-month high as US Dollar steadies
EUR/USD consolidates losses on Tuesday after pulling back from a two-month high of 1.1614 reached the previous day.
United States Capacity Utilization meets forecasts (76.3%) in July
United States Capacity Utilization meets forecasts (76.3%) in July
United States Industrial Production (MoM) below forecasts (0.3%) in July: Actual (0.2%)
United States Industrial Production (MoM) below forecasts (0.3%) in July: Actual (0.2%)
Copper: Tariff distortions unwind, prices seen lower – TD Securities
TD Securities analysts describe Copper’s current strength as driven by speculative positioning, tariff-related arbitrage and supply disruption headlines rather than genuine global shortage.
New Zealand Dollar: Market overpricing RBNZ hikes – BNY
BNY’s Geoff Yu highlights that foreign holdings of New Zealand government bonds rose to 58.9% in July 2026, while NZD/USD trades slightly above its 12‑month average.