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Euro skyrockets amid softer US confidence
EUR/USD trades higher near the 1.1400 area on Tuesday, gaining around 0.3% as the US Dollar (USD) weakens following softer United States (US) consumer-confidence data. The US Dollar Index falls toward 101.30, helping the Euro extend its recovery.
Gold: Hawkish Fed delays Gold recovery path ā Commerzbank
Commerzbankās Carsten Fritsch and Thu Lan Nguyen note that the Gold price has dropped nearly 30% from its January record as higher real yields and hawkish Federal Reserve expectations weigh on the metal.
Oil: Weakens on deal hopes and fragile flows ā ING
INGās Warren Patterson and Ewa Manthey note that Brent has sold off sharply as USāIran strikes pause and President Trump signals a āgood chanceā of a deal. They stress that flows through the Strait of Hormuz and Bab el-Mandeb, as well as Black Sea exports, remain critical.
Australian Dollar holds onto losses after Bullock keeps further rate hikes on the table
AUD/USD trades lower near the 0.6970 area on Tuesday, falling around 0.3% as the Australian Dollar (AUD) comes under pressure despite hawkish remarks from Reserve Bank of Australia (RBA) Governor Michele Bullock.
British Pound Sterling has nothing to say in front of two central banks
The Pound trades near 1.3300 in the New York morning, effectively flat on a session that has run barely 30 pips between a floor a shade above 1.3250 and a ceiling fractionally above the 1.3300 handle.
British Pound: Bearish reversal extends before BoE ā Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret report GBP/USD is extending its bearish reversal toward early-July levels as markets scale back Bank of England (BoE) tightening expectations. September pricing has been cut and cumulative hikes by December reduced.
Gold Price Forecast: XAU/USD sits out the panic it was built for
Gold trades near $4,020 in the Tuesday New York morning, down roughly 1.4% on a session that started near $4,075 and never built a bid.
Australian Dollar: RBA keeps hike option alive ā BNY
BNYās Geoff Yu highlights that Reserve Bank of Australia (RBA) Governor Michele Bullock signaled a possible rate hike at the August 10ā11 meeting, stressing inflation is still too high and productivity weak.
Canadian Dollar benefits from softer US Dollar despite lower Oil prices
USD/CAD trades near 1.4105 on Tuesday at the time of writing, down 0.14% on the day, though the pair remains close to its recent highs as traders refrain from taking aggressive positions ahead of the Federal Reserve (Fed) monetary policy decision.
Federal Reserve: Knife-edge policy risks surprise ā ING
INGās Padhraic Garvey expects the Federal Reserve (Fed) to leave rates unchanged at the upcoming Federal Open Market Committee (FOMC) meeting, with odds seen around 60:40 for no move.
Euro holds near recent lows as Fed interest rate decision looms
EUR/USD struggles for direction on Tuesday as traders avoid taking directional positions ahead of the Federal Reserveās (Fed) interest-rate decision on Wednesday while closely monitoring US-Iran developments.
Euro: Pressured by softer ECB expectations ā Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret highlight a softer Euro (EUR), with EUR/USD drifting toward the mid-1.13s and levels last seen in May 2025.
US CB Consumer Confidence Index eases to 90.8 in July
US consumer sentiment loses some momentum in July, as the Conference Boardās Consumer Confidence Index recedes to 90.8 from Juneās 92.2 (revised from 91.2).