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Australian Dollar comes under pressure as US Dollar regains ground
AUD/USD falls to around 0.7000 on Monday at the time of writing, down 0.30% on the day, as a rebound in the US Dollar (USD) outweighs the support provided by Chinese economic data for the Australian Dollar (AUD).
Mon, Aug 3
Federal Reserve: Data driven rate path – HSBC
HSBC strategists note that the Federal Reserve (Fed) left policy rates unchanged in July, with markets now assigning a two-thirds probability to a September hike.
Mon, Aug 3
Crypto Today: Bitcoin, Ethereum, XRP extend decline amid renewed risk-averse sentiment
The cryptocurrency market remains weak on Monday, with Bitcoin (BTC) falling toward the nearest $62,000. Ethereum (ETH) and Ripple (XRP) reflect the sell-off across altcoins, edging lower toward $1,800 and $1.05, respectively.
Mon, Aug 3
WTI stays lower near $78.50 ahead of US-Iran peace talks 2.0
West Texas Intermediate (WTI), futures on NYMEX, trade 7.4% lower at around $78.50 during the European trading session on Monday. The Oil price holds onto its opening losses, driven by the announcement of a ceasefire 2.0 between the United States (US) and Iran.
Mon, Aug 3
Gold struggles to hold gains amid mixed US-Iran headlines, hawkish Fed
Gold (XAU/USD) starts the week on a positive note, although buyers lack conviction as markets weigh conflicting US-Iran headlines and look ahead to US employment data for fresh clues on the Federal Reserve’s (Fed) policy outlook.
Mon, Aug 3
Fed’s Williams: Affirms confidence for inflation to return to 2% target
The remarks from New York Federal Reserve (Fed) Bank President John Williams, in an interview with Reuters that took place on Friday and was released during the European trading session on Monday, signal that he was confident about inflation returning to the central bank’s 2% target.
Mon, Aug 3
Shiba Inu Price Forecast: SHIB declines despite 83 million token burn as demand wanes
Shiba Inu (SHIB) price is down nearly 2% on Monday, after two consecutive days of recovery, extending last week's 7% decline. Declining SHIB futures Open Interest and the funding rate offset the 83 million SHIB tokens burned on Sunday, implying potential downside.
Mon, Aug 3
Bitcoin Price Forecast: BTC slides as ETF outflows return, Coldcard wallet attack raises selling fears
Bitcoin (BTC) extends its decline, trading below $63,000 at the time of writing on Monday after falling more than 2.8% in the previous week.
Mon, Aug 3
New Zealand Dollar eases as markets focus on US-Iran talks
NZD/USD trades around 0.5870 on Monday at the time of writing, down 0.11% on the day.
Mon, Aug 3
US ISM Manufacturing PMI is expected to show strong factory activity in July
Investors are attentive to the US Institute for Supply Management (ISM) on Monday, as it releases July’s Manufacturing Purchasing Managers Index (PMI).
Mon, Aug 3
Euro area: Services PMI and inflation risks – BNY
Geoff Yu at BNY argues that the lack of further Fed tightening has eased global financial conditions and partially offset European Central Bank (ECB) tightening, but European inflation dynamics remain distinct from the U.S.
Mon, Aug 3
British Pound eases to 1.3450 area following downwardly revised Manufacturing PMI data
The British Pound (GBP) is trimming previous gains against the US Dollar (USD) on Monday, returning to the mid-range of the 1.3400s down from fresh seven-week highs, above 1.3500 earlier on the day.
Mon, Aug 3
Gold: Explosive phase, muted correction – Deutsche Bank
Deutsche Bank Research analysts Michael Hsueh and Bryant Xu argue that Gold has been in an explosive price phase since August 2024, but recent moves suggest a muted correction.
Mon, Aug 3
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Monday, according to FXStreet data. Silver trades at $58.38 per troy ounce, up 1.37% from the $57.59 it cost on Friday.
Mon, Aug 3
Silver Price Forecast: XAG/USD struggles to extend opening gains amid hawkish Fed bets
Silver price (XAG/USD) opens strongly due to a sharp decline in oil prices, but struggles to extend gains beyond $58.68 during the day. At press time, the Silver price is up 1% to near $58.20.
Mon, Aug 3
Oil: prices slide on halted strikes – Commerzbank
Commerzbank strategists report that Brent Oil opened over 7% lower under USD84 into the Asian session after President Trump said the United States (US) would hold off on new strikes against Iran.
Mon, Aug 3
Swiss Franc weakens following soft inflation, manufacturing data
USD/CHF extends its gains for the second successive day, trading around 0.8090 during the European hours on Monday. The pair remains on a stronger footing as the Swiss Franc (CHF) holds onto losses following the release of soft domestic inflation and manufacturing data.
Mon, Aug 3
Japanese Yen: Intervention fears cap losses against US Dollar – Rabobank
Rabobank's Senior FX Strategist Jane Foley discusses recent joint intervention by Japan’s Ministry of Finance (MoF) and the United States (US) Treasury to support the Japanese Yen (JPY) and its implications for USD/JPY.
Mon, Aug 3
AUD/JPY Price Forecast: Defends 200-day SMA below mid-109.00s after range breakdown
The AUD/JPY cross attracts heavy follow-through selling and touches its lowest level since late March, around the 109.40-109.35 region at the start of a new week.
Mon, Aug 3
Euro strengthens against Canadian Dollar despite mixed German data
EUR/CAD edges lower after opening with a bullish gap, remaining in the positive territory and trading around 1.6180 during the European hours on Monday. The currency cross is holding its ground as the Euro (EUR) remains resilient despite mixed economic data from Germany.
Mon, Aug 3
