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Gold losses altitude as peace hopes meet hawkish Fed bets
Gold (XAU/USD) price retreats from daily highs of $4,376 on Tuesday as US Treasury yields rise and the US Dollar continues to strengthen, with investors pricing in further Federal Reserve (Fed) tightening towards year-end. At the time of writing, XAU/USD trades at $4,337, down 0.14%.
Tue, Sep 22
Asia FX: AI-driven support for regional currencies – MUFG
MUFG’s Michael Wan notes that improved risk sentiment and AI optimism around Meta’s Muse supported a slightly stronger Dollar and stable DM yields.
Tue, Sep 22
Forex Today: Advanced PMIs in the limelight, but what about the UN General Assembly?
The US Dollar (USD) has extended its recovery on Tuesday, climbing to new multi-week highs on the back of steady bets for extra Fed tightening, while increasing hopes of a potential deal to unlock the US-Iran-Hormuz conflict seem to have been ignored by market participants.
Tue, Sep 22
Chinese Yuan: Gradual decline within tight bands – UOB
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann expect USD/CNH to edge lower intraday but stay confined to a narrow 6.6890–6.6960 range, with a clear break below 6.6890 seen as unlikely. Over one to three weeks, they see downside extending toward 6.6820 as momentum builds.
Tue, Sep 22
WTI extends decline as Trump signals progress in talks with Iran
West Texas Intermediate (WTI) Oil extends its decline on Tuesday as traders assess fresh Middle East developments, keeping energy prices under pressure for a fifth straight day. At the time of writing, WTI trades around $89.50, near a two-week low.
Tue, Sep 22
Trump signals diplomatic push on Ukraine and Iran as diesel ban looms
The US President Donald Trump, after finishing his meeting with Ukrainian President Volodymyr Zelenskyy, said that he is figuring out a solution to end the war. Furthermore, he added that Russian President Vladimir Putin is willing to meet to end the war.
Tue, Sep 22
South Korean Won: Export surge supports KRW recovery – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong report that the Korean Won (KRW) strengthened alongside gains in tech equities, lower Oil prices and strong export data, including a surge in semiconductor shipments.
Tue, Sep 22
US Dollar Index pushes higher on the case for another Fed increase
The Dollar Index trades near 100.70, its highest level since late July. It has climbed through five straight sessions of falling Crude Oil, the opposite of how the war has moved it for most of this year. The Fed is the reason.
Tue, Sep 22
Fed’s Barkin backs rate hike, stays unsure on more increases
Richmond Fed President Thomas Barkin said on Tuesday that the Federal Open Market Committee (FOMC) decided to raise interest rates last Wednesday because risks to inflation outweighed those to maximum employment.
Tue, Sep 22
British Pound sinks as USD shrugs off Hormuz reopening hopes
The Pound Sterling dives over 0.17% even though newswires reported Tehran’s intention to reopen the Strait of Hormuz, if the United States meets certain conditions. The GBP/USD trades at 1.3343 after peaking at 1.3387.
Tue, Sep 22
Dow Jones Industrial Average drops from a weekly high as bank shares slide
The Dow Jones Industrial Average rose to its highest level since September 14 before the opening bell, then turned lower once trading started in New York. It trades near 51,800, below Monday's close. The NASDAQ Composite tested record highs and the S&P 500 is barely changed.
Tue, Sep 22
Canadian Dollar dips as Oil slump, dovish BoC outlook underpin USD strength
USD/CAD gains 0.27% on Tuesday and trades around 1.4070 at the time of writing, supported by weakness in the Canadian Dollar (CAD).
Tue, Sep 22
Oil: Headlines drive vulnerability – TD Securities
TD Securities’ Ryan McKay and Bart Melek highlight that elevated speculative positioning leaves Crude Oil vulnerable to shifting headlines around Middle East supply routes.
Tue, Sep 22
USD/JPY Price Forecast: Recovery stalls below key moving averages
USD/JPY trades flat on Tuesday as the Japanese Yen (JPY) holds firm in thin holiday trading during Japan’s Silver Week. However, a broadly stronger US Dollar (USD) keeps the Yen’s gains in check. At the time of writing, USD/JPY trades around 157.46.
Tue, Sep 22
Bank of Canada: Slack delays hikes despite crude shock – NBC
National Bank of Canada's Ethan Currie notes that while oil-driven inflation risks have increased, the Bank of Canada is likely to remain on hold in October as domestic slack and trade uncertainty continue to weigh on the economic outlook.
Tue, Sep 22
Trump sees post-election Iran deal, calls for pressure to stay
The US President Donald Trump said at the UN General Assembly that “we must be united in maintaining pressure on Iran,” adding that he believes that the US and Iran will strike a deal, following the US elections.
Tue, Sep 22
United States: September inflation profile – TD Securities
TD Securities economists Oscar Munoz and Eli Nir provide an early projection for United States (US) September Consumer Price Index (CPI , expecting Headline CPI to rise 0.54% m/m, driven mainly by an almost 8% jump in gasoline and firmer food prices.
Tue, Sep 22
Hedera Price Forecast: HBAR extends bullish breakout near $0.10 amid rising retail interest
Hedera (HBAR) ticks up near $0.1000 on Tuesday, reinforcing growing investor interest in the broader cryptocurrency market. This marks the sixth consecutive day that HBAR has posted gains, building on an improving technical structure, regulatory developments and ecosystem growth.
Tue, Sep 22
Natural gas: Price downside limited – Commerzbank
Norman Liebke at Commerzbank argues that European gas prices may see only limited further declines despite a brief 8% drop on US–Iran diplomatic headlines.
Tue, Sep 22
Canadian Dollar: USD strength keeps CAD weakness in focus - Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note that the Canadian Dollar (CAD) is largely unchanged, with Governor Macklem’s comments leaving the Bank of Canada (BoC) outlook broadly consistent with the latest policy statement.
Tue, Sep 22
