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Canadian Dollar weakens as Oil prices slide on US-Iran deal hopes
USD/CAD reverses its earlier losses on Tuesday as falling Oil prices weigh on the commodity-linked Canadian Dollar (CAD) following comments from US Treasury Secretary Scott Bessent on US-Iran talks.
Tue, Aug 4
Japanese Yen: Intervention focus and Dollar supply - BNY
BNY’s Geoff Yu highlights ongoing market focus on Japanese Yen intervention, noting authorities stepped back from action overnight as Tokyo seeks to preserve its International Monetary Fund (IMF) free‑floating status.
Tue, Aug 4
New Zealand Dollar: Labor market soft, RBNZ hike eyed – TD Securities
TD Securities’ Australia/NZ macro team sees New Zealand Employment growth at 0.1% q/q in Q2, insufficient to match population gains. They expect the Unemployment Rate to rise to 5.4%, returning to its recent cycle high and aligning with the RBNZ’s May forecast.
Tue, Aug 4
US Dollar: FOMC fallout weighs on USD – MUFG
Lee Hardman at MUFG highlights that the US Dollar index has fallen back below 100.00 following last week’s FOMC meeting, as the Fed left rates on hold and Chair Kevin Warsh offered less hawkish guidance.
Tue, Aug 4
Silver shines near $60 as falling Oil supports precious metals
Silver (XAG/USD) trades around $59.80 at the time of writing on Tuesday, up 2.81% on the day.
Tue, Aug 4
Copper: Tariff uncertainty and tight supply – BNY
BNY’s Geoff Yu notes Copper is surging as tighter availability meets uncertainty over United States (US) tariffs, with shipments to the United States draining inventories elsewhere and constrained mine output leaving the market exposed to squeezes.
Tue, Aug 4
Ripple Price Forecast: XRP extends technical weakness despite whales increasing exposure
Ripple (XRP) declines for a second day in a row, trading around $1.07 at the time of writing on Tuesday. The remittance token has continued to sustain a bearish outlook, aligning with the broader cryptocurrency market.
Tue, Aug 4
Japanese Yen: Joint intervention lifts JPY against US Dollar – Rabobank
Rabobank’s Senior FX Strategist Jane Foley highlights that Japanese authorities benefited from the post-FOMC US Dollar (USD) drop, which eased pressure on the Japanese Yen (JPY).
Tue, Aug 4
GBP/JPY Price Forecast: Bears test 200-day SMA after sharp selloff
GBP/JPY on Tuesday as the Japanese Yen (JPY) gives back part of its recent rally, which was driven by coordinated intervention from Tokyo and Washington.
Tue, Aug 4
US Treasury Secretary Bessent says Hormuz deal nears as Oil prices tumble
US Treasury Secretary Scott Bessent said in a CNBC interview on Tuesday that a deal with Iran to reopen the Strait of Hormuz could be reached as soon as Tuesday or Wednesday. He added that he expects Energy prices to "settle back down".
Tue, Aug 4
Natural gas: Tight market but less stressed – ING
ING’s commodities team points out that European gas prices fell, with TTF down modestly, as the market digests storage and demand trends.
Tue, Aug 4
US Dollar: JOLTS openings seen retreating – TD Securities
TD Securities strategists expect US JOLTS job openings to fall to 7.0 million in June from 7.594 million in May, below the 7.504 million consensus forecast, as the recent increase appears difficult to sustain. They expect the data to move closer to softer private-sector hiring indicators.
Tue, Aug 4
Euro defends the 1.1500 level ahead of a string of US labour data
The Euro (EUR) posts marginal gains against the US Dollar (USD) on Tuesday as Monday’s reversal from three-week highs at 1.1560 has been contained at 1.1500 so far.
Tue, Aug 4
Oil: Supply resilience and geopolitical risks – BNY
BNY's Geoff Yu reports that Saudi Aramco sees no material operational or financial impact from July attacks, with alternative pipelines, storage and export terminals preserving output.
Tue, Aug 4
Japanese Yen: Relief rallies seen as selling opportunity – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad reports USD/JPY has fully retraced its prior slump and is testing key resistance at the 200-day moving average near 158.02.
Tue, Aug 4
Qatar’s Ansari: Efforts are ongoing to seek diplomatic solution in US-Iran conflict
Qatar's Foreign Ministry spokesperson, Majed Al Ansari, confirms during the European trading session on Tuesday that efforts are ongoing with the United States (US) and Iran to seek a diplomatic resolution. Ansari added, “What is important right now is getting back to the negotiation talks.”
Tue, Aug 4
Gold: Rebound supported by lower energy – ING
ING strategist Ewa Manthey highlights that Gold has extended its recovery, posting its first monthly gain since February. The metal is supported by easing Middle East geopolitical tensions and sharply lower Oil prices, which reduce inflation concerns.
Tue, Aug 4
Gold holds steady as traders weigh US-Iran talks, Fed outlook
Gold (XAU/USD) trades flat on Tuesday, extending its sideways grind as uncertainty surrounding US-Iran peace efforts and the Federal Reserve’s (Fed) monetary policy path keeps traders cautious.
Tue, Aug 4
British Pound finds footing at 1.3420 with markets awaiting US Job Openings data
The British Pound (GBP) edges higher against the US Dollar (USD) on Tuesday, reaching session highs above 1.3440 after finding support at the 1.3420 area earlier on the day.
Tue, Aug 4
Canadian Dollar: Trade surplus seen narrowing – TD Securities
TD Securities strategists expect Canada’s International Merchandise Trade surplus to narrow in June as weaker Oil prices weigh on energy exports. They forecast a surplus of $2.5bn versus the market’s $3.0bn and May’s $4.2bn.
Tue, Aug 4
