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Euro Range-Bound vs Dollar Ahead of ECB – Scotiabank
The euro is trading in a tight low-1.14 range against the US dollar, with limited reaction to stronger ZEW data. Scotiabank notes stable short-term rates after a hawkish repricing support the euro.
GBP upside capped by fiscal uncertainty despite new Chancellor – BBH
Brown Brothers Harriman analyst Elias Haddad says the sell-off in gilts and GBP has stabilized after PM Andy Burnham appointed John Healey as Chancellor, but fiscal uncertainty continues to limit further gains against the US dollar.
Energy Shock Fails to Derail Emerging Market Growth Amid AI Boom
Despite the Iran conflict and Strait of Hormuz closure, emerging economies have avoided a crisis with only marginal slowdown and contained inflation.
Societe Generale: CAD Rebound Stalls on Softer Inflation, Tariff Headwinds
Societe Generale strategists say softer June inflation in Canada has stalled the Canadian Dollar's rebound from 1.4250 toward 1.40 against the USD, with failure to reclaim the 50-day moving average and new US tariffs complicating the outlook.
US Dollar Gains Support on Complacency Risk – ING
ING strategists say the US Dollar is drawing broad-based support as markets slowly react to escalating tensions, citing a complacency risk that favors the greenback.
Canadian Dollar Falls on US Tariffs, Weaker Inflation Data
USD/CAD climbs as new US tariffs and softer-than-expected Canadian inflation weigh on the loonie, while Middle East tensions support the US dollar.
BNY: Japan’s Fiscal Shift and GPIF Flows Reshape Yen Outlook
BNY strategist Geoff Yu highlights Japan's new fiscal guidelines under Prime Minister Takaichi, emphasizing proactive spending and long-term investment, which could alter rate dynamics and yen flows.
NZD/USD Dips Despite Hotter NZ Inflation as USD Strength Prevails
NZD/USD traded around 0.5835 on Tuesday, down 0.07% on the day, as support from stronger-than-expected New Zealand inflation was outweighed by a firmer US Dollar.
GBP under pressure as UK gilt yields top 5% – Rabobank
Rabobank notes that the British Pound is weakening amid funding concerns as 10-year gilt yields rise above 5% following the new UK cabinet's fiscal plans.
EUR/GBP Rises as UK Fiscal Woes Weigh on Pound
The euro strengthened against the British pound on Tuesday, with the cross trading around 0.8527, as concerns over the UK's fiscal outlook grew following Andy Burnham's appointment as Prime Minister.
NZD/USD Hits 7-Week High After NZ Q2 CPI Slightly Beats Consensus
The New Zealand dollar rallied to a seven-week high after Q2 CPI data came in slightly above consensus but just below the Reserve Bank of New Zealand's forecast, supporting expectations for further rate hikes.
Pound Recovers Modestly After Losses on Burnham Appointment, MUFG Says
The British pound has staged a modest recovery after initial losses following Andy Burnham's appointment as UK Prime Minister, according to MUFG analyst Lee Hardman. Long-dated gilts remain under pressure amid fiscal policy uncertainty.
Commerzbank: Rising Inflation Expectations Pressure Turkish Lira
Commerzbank analyst Tatha Ghose notes that Turkey's market-based inflation expectations for 2026 and 12 months ahead have risen again, undermining confidence in the Turkish Lira.
British Pound Extends Losses Toward 1.3400 Ahead of Burnham Policy
The British Pound continues to weaken against the US Dollar, falling for a fourth consecutive session as markets await policy announcements from Labour leader Andy Burnham.
UK Gilts and Pound Wobble on Burnham Fiscal Rules Flexibility
Gilts and the pound experienced volatility after UK Prime Minister Andy Burnham indicated potential flexibility on fiscal rules, raising concerns about the recently outperforming currency.
US Dollar Mixed: Soft Against Most, Strong Against Yen Near 40-Year High
Equities bounced back and the Canadian Dollar recovered from earlier tariff-related losses. The US Dollar is mostly softer, but strengthens against the yen, pushing USDJPY towards the 40-year high near 162.85.
Japanese Yen Near Year-to-Date Lows Again Near 163.00
The Japanese yen continues to trade defensively against the US dollar, lingering near year-to-date lows just below the 163.00 level.
Gold Rises as $4,000 Support Holds, Fed Caps Upside
Gold edged higher on Tuesday as buyers defended the $4,000 level, while hawkish Federal Reserve expectations limited further gains. The precious metal traded around $4,058, up 1.27% on the day.
Canadian Dollar Weakens on Tariffs and Soft CPI – BBH
Brown Brothers Harriman notes the Canadian Dollar underperforming other high-beta currencies after the US imposed a 50% tariff on nearly $20 billion of Canadian imports, excluding energy, and amid soft CPI data.
Australian Dollar Hits Fresh Monthly Highs Above 0.7020
The Australian Dollar rose to a one-month high above 0.7020 against the US Dollar on Tuesday, supported by ebbing risk aversion and hopes for a ceasefire.
Gold Attempts Descending Triangle Breakout Near $4,070
Gold price (XAU/USD) rises 1.5% to $4,067 during European trading, attempting a breakout from a descending triangle pattern as oil's rally stalls amid US-Iran peace talks.
ECB Expected to Hold Rates, Iran Tensions Keep September Hike Alive
The European Central Bank is set to keep interest rates unchanged at its Thursday meeting following a June hike, but heightened geopolitical risks from Iran are increasing the chances of another move in September.
Sterling Overbought; Burnham Premiership Poses Downside Risk
Sterling is considered overbought, with markets uneasy about Andy Burnham's first day as UK prime minister and the surprise appointment of John Healey as chancellor, pointing to fiscal uncertainty.
Gold Rebounds on US-Iran Conflict Safe-Haven Demand
Gold prices edged higher as renewed geopolitical tensions between the US and Iran boosted safe-haven demand, while expectations of tighter US monetary policy continued to support the dollar.