Range-bound against US Dollar ahead of ECB – Scotiabank

Range-bound against US Dollar ahead of ECB – Scotiabank

Scotiabank strategists Shaun Osborne and Eric Theoret highlight the Euro (EUR) trading quietly against the US Dollar (USD) in a tight low-1.14 range, with limited reaction to stronger ZEW sentiment data. Short-term rates have stabilized after a hawkish repricing, supporting EUR via yield spreads. Markets expect little change from the July European Central Bank (ECB) […]

Australian Dollar hits fresh monthly highs above 0.7020 as risk aversion ebbs

Australian Dollar hits fresh monthly highs above 0.7020 as risk aversion ebbs

The Australian Dollar (AUD) is showing one of the best performances among major currencies on Tuesday, appreciating to fresh one-month highs against the US Dollar, amid hopes of a ceasefire in Iran. The AUD/USD pair extends gains for the second consecutive day to reach levels above 0.7020 for the first time since mid-June. A mild […]

Trade dispute weighs on outlook – Commerzbank

Trade dispute weighs on outlook – Commerzbank

Volkmar Baur at Commerzbank notes that new United States (US) tariffs of 50% on selected Canadian dairy, alcohol and automobile products under Section 338 will remove United States-Mexico-Canada Agreement (USMCA) exemptions. While the Canadian Dollar’s (CAD) initial reaction was muted, he argues this trade dispute will dominate CAD news in coming weeks and that the […]

XAG/USD surges to near $58.20 as oil price rally hits pause

XAG/USD surges to near .20 as oil price rally hits pause

Silver price (XAG/USD) is up over 3% to near $58.20 during the early European trading session on Tuesday. The white metal surges as the rally in oil prices has halted amid hopes of renewed diplomatic efforts between the United States (US) and Iran after significant military aggression in the past few weeks. At press time, […]