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FXS Fed Sentiment Index drops to lowest level since March ahead of Powell testimony
Federal Reserve (Fed) Chairman Jerome Powell will testify before the US House Financial Services Committee on Tuesday. Investors will look for fresh hints on the timing of the next policy action after recent comments from Fed policymakers showed a difference of opinion.
HUF: Steady rate does not equal steady the forint - Commerzbank
The Hungarian central bank (MNB) is set to leave its base rate unchanged at 6.50%, for the ninth consecutive month, today. That much has been clear from the MPC's persistent rhetoric, and now confirmed by unanimous expectations among analysts.
EUR/JPY falls to near 168.00 due to growing odds of BoJ's rate hikes
EUR/JPY halts its three-day winning streak, trading around 168.10 during the European hours on Tuesday. The currency cross extends its losses after pulling back from an 11-month high of 169.72, reached on Monday.
AUD/USD: Likely to trade between 0.6385 and 0.6555 - UOB Group
Overbought advance in Australian Dollar (AUD) could test 0.6505 before leveling off against US Dollar (USD); 0.6555 is not expected to come into view.
HUF: NBH must increase hawkishness to protect FX - ING
The National Bank of Hungary is likely to leave rates unchanged today at 6.50% in line with market expectations, ING's FX analyst Frantisek Taborsky notes.
ECB's Villeroy: ECB could still cut rates despite oil market volatility
European Central Bank (ECB) policymaker Francois Villeroy de Galhau told the Financial Times on Tuesday that the ECB could still cut rates despite the volatility seen in the oil market, per Reuters.
EUR/HUF tests 405 hurdle after trendline rebound - Société Générale
EUR/HUF is staging a tentative rebound after defending key trendline support near 398. However, the 200-DMA and upper band of its recent range at 405 remain a critical test.
Powell to outline Fed's rate cut path in testimony before US Congress
Jerome Powell, Chairman of the United States (US) Federal Reserve (Fed), will deliver the Semi-Annual Monetary Policy Report and testify before the US House Financial Services Committee on Tuesday.
GBP/USD: Likely to trade in a range of 1.3420/1.3655 - UOB Group
There is a chance for Pound Sterling (GBP) to test 1.3580 before the risk of a pullback increases. In the longer run, outlook appears mixed; GBP could trade in a range of 1.3420/1.3655 for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
USD/CAD remains supported above 1.3700 ahead of Canada's CPI release
The US Dollar retreated against its Canadian Counterpart on Monday as Trump's announcement of a ceasefire in the Middle East boosted risk appetite.
USD: Fed independence risks can take over now - ING
Markets are materially scaling back geopolitical risk as President Trump declared that a ceasefire between Iran and Israel is in place following measured retaliatory strikes on US positions in Qatar yesterday.
EUR/USD: Likely to trade between 1.1480 and 1.1660 - UOB Group
Sharp rally may extend further; overbought conditions suggest Euro (EUR) is unlikely to break clearly above 1.1620.
WTI trades lower around $66.00, downside appears further due to easing supply concerns
West Texas Intermediate (WTI) Oil price extends its losses for the second successive day, trading around $66.30 during the European hours on Tuesday. Crude Oil prices lose ground due to easing concerns over supply disruptions, driven by the ceasefire agreement between Israel and Iran.
EUR: Breaking the range? - ING
Eurozone PMIs came in largely in line with expectations yesterday, signalling that business sentiment has stabilised after the tariff scare but still points to stagnation, ING's FX analyst Francesco Pesole notes.
USD/CHF consolidates losses below 0.8130 in risk-on markets with Fed's Powell in the spotlight
Fed Chair Powell is expected to speak to Congress later today and give more clues on the bank's next steps.The Swiss Franc has retraced most of the last two weeks' losses, and the USD/CHF has returned to levels right above 0.8100, with the Dollar weighed by the risk-on mood after the announcement of
German IFO Business Climate Index rises further to 88.4 in June vs. 88.3 expected
The headline German IFO Business Climate Index advanced to 88.4 in June from 87.5 in May. The data came in a tad higher than the market forecast of 88.3.
EUR/USD jumps near YTD highs after Trump announces a complete Iran-Israel ceasefire
The EUR/USD pair is rallying on Tuesday, following a significant rebound on Monday after US President Donald Trump announced a "complete and total ceasefire" between Israel and Iran.
Canada CPI set to remain below target in May despite inflation uncertainty from US tariffs
This Tuesday, Statistics Canada will release the Consumer Price Index (CPI) for May. This will get the market's attention because it will provide new information about inflation trends that the Bank of Canada (BoC) uses to make decisions about interest rates.
Israeli military identifies missiles launched from Iran towards Israel
Israeli military said on Tuesday that it identified missiles launched from Iran toward Israel after the ceasefire took effect.
Silver Price Forecast: XAG/USD tests $36.00 support after retreating from nine-day EMA
Silver price (XAG/USD) retraces its recent gains registered in the previous session, trading around $36.00 per troy ounce during the early European hours on Tuesday.
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