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Canadian Dollar weakens despite higher oil prices
USD/CAD gains ground for the third successive day, trading around 1.4210 during the European hours on Tuesday. The pair appreciates as the US Dollar (USD) holds ground, which could be attributed to the renewed geopolitical tensions in the Strait of Hormuz.
Tue, Jul 7
ECB's Panetta: Strait of Hormuz governance is still uncertain
European Central Bank (ECB) policymaker and Governor of the Bank of Italy, Fabio Panetta, said during the European trading session on Tuesday that upside risks to inflation in the Eurozone economy remain intact, as the governance of the Strait of Hormuz, a critical chokepoint to almost 20% of global
Tue, Jul 7
British Pound: Strong momentum eyeing 1.3410–1.3445 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang highlights a sharp GBP/USD advance to 1.3397 and a firm close at 1.3391. Intraday, Leang sees scope for further gains toward 1.3410, though 1.3445 may stay out of reach.
Tue, Jul 7
Iran’s Foreign Minister Araghchi warns against US threats
Iran’s Foreign Minister Abbas Araghchi has warned through a post on X, formerly known as Twitter, that the deal with United States (US) could be hampered if the nation continues with its threats. “Negotiations on a final deal will not commence if threats continue.
Tue, Jul 7
New Zealand Dollar: RBNZ hike seen but path questioned – Commerzbank
Volkmar Baur at Commerzbank expects the Reserve Bank of New Zealand (RBNZ) to raise rates at its July meeting to reinforce its inflation-fighting credentials, which should initially support the New Zealand Dollar (NZD).
Tue, Jul 7
Japanese Yen ticks up above 162.00 US Dollar and eases intervention risks
The Japanese Yen (JPY) posts minor gains amid a somewhat softer US Dollar (USD) on Tuesday. The USD/JPY pair has pulled back to session lows just below 162.00 from Monday's highs in the 162.40 area, easing concerns about an immediate intervention by the Japanese authorities.
Tue, Jul 7
Federal Reserve: New communication risks under Warsh – BNY
BNY Markets’ John Velis and David Tam examine upcoming Federal Open Market Committee (FOMC) minutes from Kevin Warsh’s first meeting as Chair.
Tue, Jul 7
GBP/USD Price Forecast: Stability above 20-day EMA backs further upside
The British Pound (GBP) ticks lower to near 1.3380 against the US Dollar (USD) during the European trading session on Tuesday. The GBP/USD pair edges down as the US Dollar gains slightly; however, the Cable is broadly upbeat.
Tue, Jul 7
Switzerland Foreign Currency Reserves rose from previous 711B to 759B in June
Switzerland Foreign Currency Reserves rose from previous 711B to 759B in June
Tue, Jul 7
Austria Wholesale Prices n.s.a (MoM) declined to -0.7% in June from previous 0.1%
Austria Wholesale Prices n.s.a (MoM) declined to -0.7% in June from previous 0.1%
Tue, Jul 7
Austria Wholesale Prices n.s.a (YoY) declined to 5.4% in June from previous 6.9%
Austria Wholesale Prices n.s.a (YoY) declined to 5.4% in June from previous 6.9%
Tue, Jul 7
US Dollar: Crowded support into year-end – NBC
National Bank of Canada ’s (NBC) Stéfane Marion and Kyle Dahms note the US Dollar (USD) is trading near its 2026 high as sticky United States (US) inflation and wider rate differentials underpin the currency.
Tue, Jul 7
France Exports, EUR dipped from previous €54.585B to €53.6B in May
France Exports, EUR dipped from previous €54.585B to €53.6B in May
Tue, Jul 7
France Imports, EUR climbed from previous €60.225B to €60.5B in May
France Imports, EUR climbed from previous €60.225B to €60.5B in May
Tue, Jul 7
France Trade Balance EUR came in at €-6.9B, below expectations (€-5.2B) in May
France Trade Balance EUR came in at €-6.9B, below expectations (€-5.2B) in May
Tue, Jul 7
Equities: Semiconductor bounce looks fragile – Deutsche Bank
Deutsche Bank strategists note that the S&P 500 reached a three-week high as chip stocks rebounded, led by gains in the Philly semiconductor index and Broadcom after its expanded Apple partnership.
Tue, Jul 7
Euro languishes at one-year lows against the British Pound despite positive German data
The Euro (EUR) has failed to draw support from the upbeat German industrial figures released earlier on Tuesday and consolidates losses at one-year lows against the British Pound (GBP).
Tue, Jul 7
Japanese Yen: Mixed outlook inside 160.60–163.00 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang reports USD/JPY surged to 162.42 before closing at 162.08, leaving the pair overbought. Intraday, the bank expects consolidation between 161.50 and 162.45.
Tue, Jul 7
Germany Industrial Production n.s.a. w.d.a. (YoY) climbed from previous -0.5% to 0.1% in May
Germany Industrial Production n.s.a. w.d.a. (YoY) climbed from previous -0.5% to 0.1% in May
Tue, Jul 7
Euro Summer range holds against US Dollar – Commerzbank
Commerzbank’s Volkmar Baur notes EUR/USD has been stuck between 1.1350 and 1.1450 since mid-June, with few catalysts expected over the summer.
Tue, Jul 7
