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UK PM Burnham’s first fiscal policy pledge comes on trial
A statement from United Kingdom (UK) lawmaker Darren Jones, an ally of former prime minister (PM) Keir Starmer, that the funding source of tax cuts on energy bills, as promised by new PM Andy Burnham, was already unfunded, has pushed political stability optimism under the scanner.
Tue, Jul 21
Japanese Yen weakens against US Dollar despite easing risk aversion
USD/JPY gains ground for the fourth successive day, trading around 162.60 during the European hours on Tuesday. Japanese banks will be closed due to Marine Day bank holiday.
Tue, Jul 21
Swiss Franc ticks up, but US Dollar dips remain contained amid risk-off markets
The Swiss Franc (CHF) has trimmed some losses against the US Dollar (USD) on Tuesday, as USD/CHF bulls failed to find acceptance above the 0.8100 area.
Tue, Jul 21
Lido DAO Price Forecast: LDO rally gains traction as bulls target 200-day EMA breakout
Lido DAO (LDO) edges higher by over 4% on Tuesday, extending its recovery for the fourth consecutive week with around 65% so far in July.
Tue, Jul 21
Forex Today: US Dollar struggles to extend rebound as focus remains on Middle East
Here is what you need to know on Tuesday, July 21:
Tue, Jul 21
Japanese Yen: Pressured within 161.30–163.00 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang sees USD/JPY holding a firmer tone, with intraday action likely confined to a higher 162.30–162.70 range. Over the next few weeks, a broader consolidation between 161.30 and 163.00 is expected.
Tue, Jul 21
Euro rebounds from multi-day low as carry trade undermines JPY; focus remains on ECB
The EUR/JPY cross attracts some dip-buyers on Tuesday, snapping a three-day losing streak and stalling its recent retracement slide from the 186.00 mark or a nearly one-month high touched last week.
Tue, Jul 21
British Pound: Rally seen fading against Euro – OCBC
OCBC’s Sim Moh Siong and Christopher Wong flag renewed United Kingdom (UK) fiscal concerns under Prime Minister Andy Burnham as a headwind for the British Pound (GBP).
Tue, Jul 21
AUD/USD Price Forecast: Further upside likely towards 0.7100
The Australian Dollar (AUD) outperforms its major currency peers, trading 0.28% higher to near 0.7018 against the US Dollar (USD) during the European trading session on Tuesday.
Tue, Jul 21
Euro flatlines above 1.1400 with geopolitical tensions, Oil prices capping rallies
The Euro (EUR) trades practically flat, a few pips above 1.1400 against the US Dollar (USD) on Tuesday, halfway through the last four weeks horizontal range. A mild reversal on the US Dollar Index has provided some support.
Tue, Jul 21
Equities: Geopolitics weigh on stocks – Deutsche Bank
Deutsche Bank strategists report the S&P 500 slipping for a third straight session as geopolitical uncertainty and higher US real yields pressure risk assets.
Tue, Jul 21
New Zealand Dollar gathers strength above 0.5850 as CPI inflation data bolster RBNZ rate hike bets
The NZD/USD pair gains traction to around 0.5860 during the early European trading hours on Tuesday. Hotter New Zealand inflation data provide some support to the New Zealand Dollar (NZD) against the US Dollar (USD). The US ADP Employment report will be published later on Tuesday.
Tue, Jul 21
Brent: Geopolitics weigh on prices – ING
ING strategists Warren Patterson and Ewa Manthey note Brent retreated below $90/bbl as hopes for US–Iran de-escalation offset rising supply risks. They highlight reports of a proposed 10‑day ceasefire and ongoing large divisions between the US and Iran.
Tue, Jul 21
Euro pulls back against a stronger Pound following upbeat UK employment data
The Euro (EUR) posts moderate losses against the British Pound (GBP) on Tuesday, yet trading within recent ranges.
Tue, Jul 21
US Dollar: Fed inflation framework questions – Commerzbank
Commerzbank’s Volkmar Baur discusses how persistent high Oil and energy prices complicate the Federal Reserve’s stance, with markets only modestly pricing in further tightening.
Tue, Jul 21
British Pound attracts bids after UK employment data release
The British Pound (GBP) snaps a three-day losing streak against the Japanese Yen (JPY), rebounding to near 218.55 during the European trading session on Tuesday. The cross attracts bids after the release of the United Kingdom (UK) labor market data for the three months ending May.
Tue, Jul 21
British Pound holds positive ground near 1.3450 after UK employment data
The GBP/USD pair holds positive ground near 1.3450 during the early European trading hours on Tuesday. The British Pound (GBP) strengthens against the US Dollar (USD) following the UK employment report.
Tue, Jul 21
Euro: Downward bias capped by 1.1390 support against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang sees EUR/USD retaining a mild downside bias after slipping below a prior strong support at 1.1405. Intraday losses are expected to be limited to tests of 1.1390, with resistance at 1.1430–1.1445.
Tue, Jul 21
United Kingdom Claimant Count Rate fell from previous 4.5% to 4.4% in June
United Kingdom Claimant Count Rate fell from previous 4.5% to 4.4% in June
Tue, Jul 21
United Kingdom Public Sector Net Borrowing declined to £15.989B in June from previous £23.294B
United Kingdom Public Sector Net Borrowing declined to £15.989B in June from previous £23.294B
Tue, Jul 21
