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Iran offers to reopen Hormuz Strait within 7 days – Kyodo News
According to a report from Kyodo news, a senior Iranian official has said that Iran will reopen the Strait of Hormuz, a critical chokepoint to almost 20% of global energy supply, within seven days if the United States (US) takes initial steps toward easing military pressure.
Tue, Sep 22
Euro hits fresh seven-week lows as German political uncertainty offsets risk-on mood
The Euro (EUR) is failing to draw any support from the moderate risk appetite triggered by the recent pullback in Oil prices and extends losses against the US Dollar (USD) on Tuesday, hitting fresh seven-week lows below 1.1450.
Tue, Sep 22
Silver Price Forecast: XAG/USD plummets below $65 on higher-for-longer Fed interest rates narrative
Silver price (XAG/USD) is down 1.75% to near $64.85 during the European trading session on Tuesday. The white metal is under severe selling pressure as Federal Reserve (Fed) officials warn that strong demand is also fuelling upside inflation risks alongwith higher oil prices.
Tue, Sep 22
WTI remains above $92.00 due to market caution ahead of UN diplomatic talks
West Texas Intermediate (WTI) oil price halts its four-day losing streak, hovering around $92.40 per barrel during the European hours on Tuesday.
Tue, Sep 22
Federal Reserve: Hiking path constrained by supply shocks – BNY
John Velis at BNY Markets argues that current US inflation is being driven by non-rate-sensitive components of core PCE, limiting how effective further Federal Reserve tightening can be.
Tue, Sep 22
USD/JPY Price Forecast: Rises to near 158.00 near 50-day EMA
USD/JPY gains ground for the third consecutive day, trading around 157.70 during the European hours on Tuesday. The currency pair is consolidating after the recent pullback while remaining capped by the medium-term trend filter.
Tue, Sep 22
Forex Today: Geopolitical uncertainty keeps markets on edge
Here is what you need to know on Tuesday, September 22:
Tue, Sep 22
British Pound: BoE pricing keeps rangebound against Euro – ING
ING’s Francesco Pesole notes EUR/GBP has held a tight 0.855–0.860 range since early September after a Bank of England (BoE) meeting that did not strongly challenge aggressive market tightening expectations.
Tue, Sep 22
USD/CAD Price Forecast: Bulls retain control near August 6 highs, just below mid-1.4000s
The USD/CAD pair extends its consolidative price move through the early European session on Tuesday, trading below 1.4050, or the highest since August 6, amid mixed fundamental cues.
Tue, Sep 22
British Pound reverses earlier gains as UK Public Sector Net Borrowing surges
The British Pound (GBP) is giving back earlier gains against the US Dollar (USD) on Tuesday as data from the UK revealed that public sector borrowing increased beyond expectations in August, rekindling market concerns about government finances.
Tue, Sep 22
Equities: Fresh optimism lifts S&P 500 near highs – Deutsche Bank
Deutsche Bank strategists highlight a strong risk-on session in US equities, with the S&P 500 up over 1% and back in positive territory for September, sitting less than half a percent below its all-time high.
Tue, Sep 22
Dow Jones futures hold steady as traders await US-Iran diplomatic developments
Dow Jones futures inch lower by 0.04% to trade near 52,450 during European hours on Tuesday. Meanwhile, S&P 500 futures remain steady around 7,830, while Nasdaq 100 futures decline by 0.07% to trade near 30,760.
Tue, Sep 22
Swiss Franc: Range bias holds below resistance against US Dollar – UOB
United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann see USD/CHF trading with a mild downside bias in the short term, targeting support near 0.8190 while keeping 0.8155 intact.
Tue, Sep 22
Euro rises against Japanese Yen as latter underperforms across board
The Euro (EUR) is 0.2% at around 180.78 against the Japanese Yen (JPY) during the European trading session on Tuesday. The cross gains as the Japanese currency underperforms its currency peers.
Tue, Sep 22
Hungarian Forint: MNB pause supports HUF – Commerzbank
Antje Praefcke at Commerzbank highlights that the Hungarian Central Bank is widely expected to leave its key rate at 5.50% and possibly lower its inflation target to 2.5%.
Tue, Sep 22
British Pound remains on the front foot amid BoJ-inspired Yen weakness
The GBP/JPY cross scales higher for the third consecutive day – also marking the sixth day of a move up in the previous seven – and trades around the 210.75-210.80 region during the early European session on Tuesday.
Tue, Sep 22
Bitcoin Price Forecast: BTC pauses rally as profit-taking reaches yearly high
Bitcoin (BTC) takes a breather, facing a pullback, trading below $85,500 at the time of writing on Tuesday after surging 6.7% the previous day.
Tue, Sep 22
Euro declines as US Dollar recovers recent losses amid hawkish Fed tone
EUR/USD remains subdued for the second successive day, trading around 1.1460 during the European hours on Tuesday. The pair faces challenges as the US Dollar (USD) recovers its daily losses amid prevailing hawkish sentiment surrounding the Federal Reserve (Fed) policy stance.
Tue, Sep 22
US Dollar: Stronger as Fed hike path extends – MUFG
MUFG’s Lee Hardman notes the US Dollar is holding a stronger tone after the Federal Reserve began tightening policy, lifting the Dollar Index back above 100.00. Support comes from a sharp rise in US yields, with markets now pricing three more Fed hikes over the next year.
Tue, Sep 22
Euro: Fair value drop points to downside against US Dollar – ING
Francesco Pesole at ING highlights that EUR/USD short-term fair value from the bank’s 60‑day model has fallen below 1.150, with equities and rate differentials driving moves more than Oil.
Tue, Sep 22
