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EUR/USD climbs above 1.1740 as risk appetite pressures Dollar, ECB in focus
EUR/USD remains above the 20-day Simple Moving Average (SMA) of 1.1704, trading with gains of over 0.50% due to an improvement in risk appetite weighing on the US Dollar, even though fears that the European Union (EU) and the United States (US) might fail to reach a deal before the August 1 deadline
Canadian Dollar climbs as Greenback losses pile on
The Canadian Dollar (CAD) caught another breather on Tuesday, gaining ground against the weakening US Dollar (USD) and extending into its third straight day of firm gains. The Loonie is up around 1.25% against the Greenback from last week's lows, pushing the USD/CAD pair down to the 1.3600 handle.
AUD/USD extends gains as Fed uncertainty threatens the US Dollar ahead of Australian PMI data
The Australian Dollar (AUD) is extending its climb against the US Dollar (USD) on Tuesday as a softer Greenback and a slightly more balanced tone from the Reserve Bank of Australia (RBA) support the upside move.
Gold surges to 5-week high as US yields slide, trade uncertainty boosts safe-haven demand
Gold price extended its rally to two consecutive days on Tuesday, rising by over 0.9% as US Treasury yields continued their decline, weakening the US Dollar as traders await fresh news regarding new trade deals from the United States.
Canadian PM Carney: Working a deal with Trump, will keep talking to non-US allies
Canadian Prime Minister Mark Carney noted on Tuesday that while the Canadian government is still open to further trade discussions with the US, Canada will still be pursuing active negotiations with allies outside of the US.
Forex Today: Trade, Fed's independence remains in the driver's seat
The Greenback accelerated its decline on Tuesday, slipping back to two-week lows near 97.50 amid an improved sentiment around the risk complex despite unabated uncertainty on the trade front and further fireworks surrounding the Trump-Powell crisis.
EUR/JPY pauses as US trade negotiations continue, ECB decision nears
The Euro (EUR) is trading in a tight range against the Japanese Yen (JPY) on Tuesday as trade tensions between the United States and its key partners remain a central focus.
Dow Jones Industrial Average grapples with tech backslide
The Dow Jones Industrial Average (DJIA) remains trapped in consolidation around the 44,400 region on Tuesday. Earnings week is in full swing, and a few key misses on Tuesday gave investors cause for pause, twisting a kink into the tech rally and dragging down key blue chips.
Trump blames housing problems on Fed's Powell not cutting rates
United States (US) President Donald Trump took the opportunity to lash out further at Federal Reserve (Fed) Chair Jerome Powell on Tuesday during a meeting with Philippines President Bongbong Marcos.
GBP/USD edges higher despite soaring UK borrowing as Dollar slips further
The GBP/USD advances modestly during the North American session as the US dollar extends its losses for two straight days, despite data showing that UK government borrowing soared in June. At the time of writing, the pair trades at 1.3504 up 0.12%.
EUR/USD tests key resistance as US-EU trade talks reach critical juncture and ECB decision nears
EUR/USD is trading marginally higher on Tuesday as investors continue to monitor developments in trade and economic policy.
USD/JPY dips as attention shifts to US-Japan trade talks
The Japanese Yen (JPY) is extending gains against the US Dollar (USD) on Tuesday. Investors are closely monitoring high-level US-Japan trade talks and assessing recent developments in Japan's domestic politics.
US Treasury Sec. Bessent: Nothing tells me Powell should step down right now
In an interview with Fox Business Network on Tuesday, United States (US) Treasury Secretary Scott Bessent said that Federal Reserve Chairman Jerome Powell's term end in May and added that there is nothing that tell him Powell should step down right now, per Reuters.
The US Dollar Index treads water below 98.00
The Greenback, when tracked by the US Dollar Index (DXY), alternates gains with losses in the lower end of the weekly range below the 98.00 support amid another day of generalised weakness in US yields.
Saudi Arabia exported more crude Oil and Oil products in May - Commerzbank
Saudi Arabia exported just under 6.2 million barrels of crude Oil per day in May, according to data from the Joint Official Data Initiative (JODI), Commerzbank's commodity analyst Carsten Fritsch notes.
China imports significantly more (Iranian) Oil from Malaysia - Commerzbank
China published detailed data on crude Oil imports in June on Monday. Of the total 49.9 million tons, Russia accounted for 8.35 million tons and Saudi Arabia for 7.9 million tons, Commerzbank's commodity analyst Carsten Fritsch notes.
Gold stalls despite elevated trade tensions and rising concerns over Fed independence
Gold (XAU/USD) is edging lower after a sharp rally on Monday. Trade tensions and concerns about the Federal Reserve's (Fed) independence continue to lend support through safe-haven demand.
Gold Price Forecast: XAU/USD strives to break above $3,400 amid US-EU trade tensions
Gold price (XAU/USD) ticks down to near $3,385 during the European trading session on Tuesday. Still, the precious metal trades close to an over-a-month high around $3,400. The yellow metal is broadly firm as trade tensions between the United States (US) and the European Union (EU) have escalated.
USD/CAD approaches multi-week lows at 1.3670 amid growing trade uncertainty
Later
USD/JPY is consolidating recovery from range low - Scotiabank
The Japanese Yen (JPY) is also trading flat against the US Dollar (USD) and consolidating its recent recovery from the lower end of its recent range, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
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