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Gold Price Forecast: XAU/USD holds gains above $3,340 with US inflation on tap
Gold (XAU/USD) correction has been limited at $3,340, and the precious metal is retracing previous losses on Tuesday, approaching three-week highs at $3,380 as US Treasury yields and the US Dollar pull back from recent highs ahead of the US CPI release.The US Dollar Index, which measures the value o
Dow Jones futures trade calmly ahead of US banks' Q2 earnings, inflation data
Dow Jones futures trade quietly during the European trading session on Tuesday as investors await quarterly results from a number of United States (US) commercial banks and the Consumer Price Index (CPI) data for June, which will be published at 12:30 GMT.
USD/JPY: Any advance is unlikely to break above 148.05 - UOB Group
Further US Dollar (USD) strength is not ruled out against Japanese Yen (JPY); negative divergence suggests any advance is unlikely to break above 148.05.
IEA surprises with significantly higher oil production from Saudi Arabia - Commerzbank
The International Energy Agency has slightly lowered its forecasts for oil demand. It expects an increase of 700,000 barrels per day for this year and next. This is the smallest increase since the slump in 2020 during the coronavirus pandemic.
NZD/USD: sustained break below 0.5950 is unlikely - UOB Group
New Zealand Dollar (NZD) could test 0.5950 against US Dollar (USD); a sustained break below this level is unlikely. In the longer run, price action indicates that further NZD weakness is likely; the level to watch is 0.5950, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
A new world order is nigh - Standard Chartered
The world is shifting from a US-led liberal order to a multipolar order based on 'might makes right'. Trump's foreign policy rejects multilateralism in favour of a zero-sum game of 'great power collusion'.
USD: What's new with tariffs - Commerzbank
Monday was relatively quiet in terms of news surrounding US tariff policy, at least when compared to last week. The new deadline has been set, and now it's time to get back to the negotiating table. However, it should be clear that the next two weeks will not be easy.
AUD/USD is under mild downward pressure - UOB Group
Australian Dollar (AUD) is under mild downward pressure against US Dollar (USD); it may edge lower but is unlikely to reach 0.6515. In the longer run, AUD is likely still trading in a range of 0.6515/0.6615, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Kremlin: Trump's statement is serious, we need time to analyse it
Responding to US President Donald Trump's tariff threat, the Kremlin said on Tuesday, "Trump's statement is serious, we need time to analyse it."
CNY: Strengths and weaknesses - Commerzbank
At first glance, the Chinese figures once again look impressive. GDP grew by 5.2% in the second quarter compared with the previous year, and industrial production even rose by 6.8% in June - significantly faster than most analysts had expected, Commerzbank's FX analyst Volkmar Baur notes.
DXY: CPI in Focus - OCBC
US Dollar (USD) traded mixed with strength seen vs. most Asian FX including THB, IDR, PHP while USD was modestly softer vs. CHF, EUR and precious metals. DXY was last at 98 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
WTI dips below $66.00 as Trump gives a deadline on sanctions to Russia
Crude Oil Prices reverted to previous gains on Monday, and dropped to session lows at $65.40 on Tuesday's early trading, as Trump gave a 50-day deadline to apply further sanctions to Russia, which eased market concerns about supply.The price of the US benchmark West Texas Intermediate reached three-
AUD/USD advances to near 0.6570 on upbeat Australian Dollar, US CPI eyed
The AUD/USD pair jumps to near 0.6570 during the European trading session on Tuesday. The Aussie pair gains sharply as the Australian Dollar (AUD) outperforms its peers, following the release of upbeat China's Q2 Gross Domestic Product (GDP) data earlier in the day.
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Tuesday, according to FXStreet data.
USD/CHF falls to near 0.7950 ahead of US inflation data
USD/CHF has retraced its recent gains registered in the previous session, trading around 0.7960 during the European hours on Tuesday. The pair holds losses ahead of June's US Consumer Price Index (CPI) figures due later in the day.
Eurozone Industrial Production jumps 1.7% MoM in May vs. 0.9% expected
The Eurozone industrial sector activity outperformed in May, the latest data published by Eurostat showed on Tuesday.
German ZEW Economic Sentiment Index rises to 52.7 in July vs. 50 expected
The headline German ZEW Economic Sentiment Index jumped to 52.7 in July from 47.5 in June, beating the market expectations of 50.
USD/CAD remains below 1.3700 ahead of CPI data from US, Canada
USD/CAD edges lower after two days of gains, trading around 1.3690 during the European hours on Tuesday. The pair depreciates as the US Dollar (USD) remains subdued ahead of June's US Consumer Price Index (CPI) figures.
USD: June CPI to set the tone - ING
FX markets have had a quiet start to the week. The risks of new Russian sanctions highlighted here yesterday were actually less harsh than expected in that they gave Russia 50 days to reach a deal (ceasefire with Ukraine). Energy prices ended a little lower, ING's FX analyst Chris Turner notes.
EUR/JPY hits fresh yearly highs above 172.60 amid a brighter market mood
The Euro appreciated for the third consecutive day on Tuesday, to reach levels above 172.60 for the first time since July last year, with the safe-haven Yen weighed by a somewhat brighter market mood on Tuesday.
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