The Australian Dollar (AUD) weakened further against the US Dollar (USD) on Tuesday, following stronger-than-expected US inflation data that dampened hopes for a near-term interest rate cut. The Greenback surged across the board, pushing AUD/USD to 0.6510 during the American trading session.
The USD/JPY rallies sharply over 0.86% during the North American session, trading at 148.95, approaching the 149.00 figure for the first time since April 2025. A slightly hot CPI report in the United States (US) sent US Treasury yields soaring, while traders priced out a short-term rate cut.
EUR/USD backslid on Tuesday, falling over eight-tenths of one percent and tumbling into its lowest bids in nearly three weeks.
GBP/USD shed another two-thirds of one percent top-to-bottom on Tuesday, extending into an eighth consecutive day of Cable losses.
The Dow Jones Industrial Average (DJIA) fumbled on Tuesday, losing enough ground to knock the megacap index back below the previous week’s close, but still holding onto near-term consolidation levels.
The GBP/USD extended its losses to four consecutive days after the latest inflation report in the United States (US) showed signs of rising, the first indication that tariffs triggered a jump in prices. At the time of writing, the pair trades below 1.3400, down by 0.23%.
The Euro (EUR) is trading in a narrow range against the Swiss Franc (CHF) on Tuesday, with price action consolidating near the 0.9300 mark.
GDP growth remained solid at 5.2% y/y in Q2, while monthly data indicates signs of softening. Investment growth slowed sharply in June partly due to a deeper decline in housing investment. Deflationary pressure escalated, partly reflecting overcapacity in some sectors.
New Zealand GDT Price Index increased to 1.1% from previous -4.1%
The Euro extends its advance for the third consecutive session against the Japanese Yen on Tuesday, with EUR/JPY climbing toward the 173.00 level during the American session — a level last seen on 12 July 2024.
Colombia Retail Sales (YoY) came in at 13.2%, above forecasts (12.4%) in May
The price of Silver is attempting to recover from Monday’s slump as traders digest fresh economic data from China, the Eurozone, and the United States.
The Canadian Dollar (CAD) strengthens against the US Dollar (USD) on Tuesday, as traders digest fresh inflation data from both Canada and the United States.
United States Redbook Index (YoY) declined to 5.2% in July 11 from previous 5.9%
United States Consumer Price Index Core s.a climbed from previous 326.85 to 327.6 in June
Canada Consumer Price Index - Core (MoM) increased to 0.3% in June from previous 0.2%
United States Consumer Price Index n.s.a (MoM) came in at 322.561, above expectations (322.5) in June
Canada Consumer Price Index (YoY) in line with expectations (1.9%) in June
Canada Consumer Price Index (MoM) meets forecasts (0.1%) in June
Canada BoC Consumer Price Index Core (MoM): 0.1% (June) vs previous 0.6%
United States NY Empire State Manufacturing Index above forecasts (-9) in July: Actual (5.5)
United States Consumer Price Index ex Food & Energy (YoY) came in at 2.9%, below expectations (3%) in June
United States Consumer Price Index (YoY) in line with expectations (2.7%) in June
United States Consumer Price Index ex Food & Energy (MoM) registered at 0.2%, below expectations (0.3%) in June
Canada BoC Consumer Price Index Core (YoY) climbed from previous 2.5% to 2.7% in June
The US Dollar (USD) is trading on a slightly softer footing on Tuesday as investors brace for the closely watched US Consumer Price Index (CPI) release. With market participants repositioning ahead of key inflation data, the Greenback is struggling to hold onto its previous day's gains.
Gold (XAU/USD) is holding firm, trading slightly higher in the European session on Tuesday, with buyers stepping in ahead of key US inflation data as tariff concerns resurface.
The Euro is trading lower against the Pound on Tuesday. The strong German economic sentiment and upbeat Eurozone Industrial Production figures have failed to push the pair above the 0.8700 level.
The USD/JPY pair extends its two-day winning streak on Tuesday, revisits the two-month high around 148.00 during the European session. The pair trades firmly amid trade frictions between the United States (US) and Japan.
The Japanese Yen (JPY) is flat against the US Dollar (USD) and consolidating in a tight range just above its recent lows, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
According to data from the statistics office, Aluminum production in China, the most important producer country, declined slightly in June compared to the previous month, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.
The Pound Sterling (GBP) is up 0.2% against the US Dollar (USD) and a mid-performer among the G10, attempting stabilization in the mid-1.34s following an aggressive pullback from its July 1 multi-year high, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
The Euro (EUR) is up a modest 0.2% against the US Dollar (USD) and attempting stabilization in the mid/upper-1.16s, supported by an improvement in the broader market’s mood, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
The Copper price remained stable at levels above $9,600 per ton at the start of the week. However, downward pressure remains high, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.
The Canadian Dollar (CAD) continues to respect its recent range parameters, effectively idling between 1.3650/1.3750 in quiet trade over the past few days as sentiment ricochets between tariff concerns and domestic data reports.
The price of Silver has risen significantly since Friday, temporarily gaining around 5% to over $39 per troy ounce, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.
The US Dollar (USD) started trading Monday on a soft note but the Dollar Index (DXY) ended up a little firmer on the day overall, extending its run higher for a tenth consecutive session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
China's crude Oil imports were again strong in June: according to customs authorities, 49.9 million tons were imported, 7% more than in the previous month, Commerzbank's commodity analyst Barbara Lambrecht notes.
US Dollar (USD) is likely to trade sideways between 7.1630 and 7.1780 against Chinese Yuan (CNH). In the longer run, USD is expected to trade in a range between 7.1550 and 7.1920, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Yesterday, the price of Brent crude oil climbed above $71 per barrel for the first time since the attacks between Israel and Iran, Commerzbank's commodity analyst Barbara Lambrecht notes.
Gold (XAU/USD) correction has been limited at $3,340, and the precious metal is retracing previous losses on Tuesday, approaching three-week highs at $3,380 as US Treasury yields and the US Dollar pull back from recent highs ahead of the US CPI release.The US Dollar Index, which measures the value o
Dow Jones futures trade quietly during the European trading session on Tuesday as investors await quarterly results from a number of United States (US) commercial banks and the Consumer Price Index (CPI) data for June, which will be published at 12:30 GMT.
Further US Dollar (USD) strength is not ruled out against Japanese Yen (JPY); negative divergence suggests any advance is unlikely to break above 148.05.
The International Energy Agency has slightly lowered its forecasts for oil demand. It expects an increase of 700,000 barrels per day for this year and next. This is the smallest increase since the slump in 2020 during the coronavirus pandemic.
New Zealand Dollar (NZD) could test 0.5950 against US Dollar (USD); a sustained break below this level is unlikely. In the longer run, price action indicates that further NZD weakness is likely; the level to watch is 0.5950, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The world is shifting from a US-led liberal order to a multipolar order based on ‘might makes right’. Trump’s foreign policy rejects multilateralism in favour of a zero-sum game of ‘great power collusion’.
Monday was relatively quiet in terms of news surrounding US tariff policy, at least when compared to last week. The new deadline has been set, and now it's time to get back to the negotiating table. However, it should be clear that the next two weeks will not be easy.
Australian Dollar (AUD) is under mild downward pressure against US Dollar (USD); it may edge lower but is unlikely to reach 0.6515. In the longer run, AUD is likely still trading in a range of 0.6515/0.6615, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Responding to US President Donald Trump’s tariff threat, the Kremlin said on Tuesday, “Trump's statement is serious, we need time to analyse it.”
At first glance, the Chinese figures once again look impressive. GDP grew by 5.2% in the second quarter compared with the previous year, and industrial production even rose by 6.8% in June – significantly faster than most analysts had expected, Commerzbank's FX analyst Volkmar Baur notes.
US Dollar (USD) traded mixed with strength seen vs. most Asian FX including THB, IDR, PHP while USD was modestly softer vs. CHF, EUR and precious metals. DXY was last at 98 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Crude Oil Prices reverted to previous gains on Monday, and dropped to session lows at $65.40 on Tuesday’s early trading, as Trump gave a 50-day deadline to apply further sanctions to Russia, which eased market concerns about supply.The price of the US benchmark West Texas Intermediate reached three-
India Trade Deficit Government dipped from previous $21.88B to $-18.78B in June
The AUD/USD pair jumps to near 0.6570 during the European trading session on Tuesday. The Aussie pair gains sharply as the Australian Dollar (AUD) outperforms its peers, following the release of upbeat China’s Q2 Gross Domestic Product (GDP) data earlier in the day.
Silver prices (XAG/USD) rose on Tuesday, according to FXStreet data.
USD/CHF has retraced its recent gains registered in the previous session, trading around 0.7960 during the European hours on Tuesday. The pair holds losses ahead of June's US Consumer Price Index (CPI) figures due later in the day.
The Eurozone industrial sector activity outperformed in May, the latest data published by Eurostat showed on Tuesday.
The headline German ZEW Economic Sentiment Index jumped to 52.7 in July from 47.5 in June, beating the market expectations of 50.
Eurozone ZEW Survey – Economic Sentiment registered at 36.1, below expectations (37.8) in July
Germany ZEW Survey – Economic Sentiment came in at 52.7, above expectations (50) in July
Eurozone Industrial Production s.a. (MoM) came in at 1.7%, above forecasts (0.9%) in May
Eurozone Industrial Production w.d.a. (YoY) came in at 3.7%, above forecasts (2.9%) in May
Germany ZEW Survey – Current Situation above expectations (-65.5) in July: Actual (-59.5)
USD/CAD edges lower after two days of gains, trading around 1.3690 during the European hours on Tuesday. The pair depreciates as the US Dollar (USD) remains subdued ahead of June's US Consumer Price Index (CPI) figures.
FX markets have had a quiet start to the week. The risks of new Russian sanctions highlighted here yesterday were actually less harsh than expected in that they gave Russia 50 days to reach a deal (ceasefire with Ukraine). Energy prices ended a little lower, ING's FX analyst Chris Turner notes.
The Euro appreciated for the third consecutive day on Tuesday, to reach levels above 172.60 for the first time since July last year, with the safe-haven Yen weighed by a somewhat brighter market mood on Tuesday.
Further Pound Sterling (GBP) weakness is not ruled out against US Dollar (USD); any declines are unlikely to reach the major support at 1.3375. In the longer run, the outlook for GBP remains negative; a move to 1.3375 is now expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
USD/JPY rose amid rise in UST yields, tariff implications, sell-off in longer-dated JGBs and upper house election uncertainty. USD/JPY was last at 147.69 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
ICE Brent settled a little more than 1.6% lower yesterday, taking prices back below US$70/bbl, despite President Trump’s “major statement” on Russia. Trump threatened to impose secondary tariffs of 100% on Russia if President Putin didn’t make a deal within 50 days to end the war in Ukraine.
Risk for Euro (EUR) remains on the downside against US Dollar (USD); lackluster momentum continues to suggest that 1.1625 is likely out of reach. In the longer run, the risk of EUR declining to 1.1625 is increasing, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
In quiet markets, the EUR/GBP run-up to 0.8700 has been notable, ING's FX analyst Chris Turner notes
LME Copper prices fell below $9,600/t yesterday as requests to withdraw Copper from the LME warehouses dropped by 25,100 tonnes to 15,875 tonnes.
Euro (EUR) consolidated overnight in absence of fresh catalyst while markets wait and see US CPI data for any tariff-related implications. EUR was last at 1.1675, OCBC's FX analysts Frances Cheung and Christopher Wong note.
EUR/USD is consolidating as investors price up the next trade move, ING's FX analyst Chris Turner notes.
The Pound treads water as the Yen loses momentum, with market sentiment improving.The bearish correction from last week's highs near 200.00, remains contained above 198.25 for now.On the upside, the Pound would need to clear Monday's top, at 198.80, to ease bearish pressure.The Pound is picking up o
Silver price (XAG/USD) recovers its recent losses from the previous session, rebounds toward a 14-year high of $39.13, which was reached on Monday, and is trading around $38.40 per troy ounce during the European hours on Tuesday.
Statistics Canada will issue the Consumer Price Index (CPI) for June on Tuesday. This will attract the market's attention since it will provide the Bank of Canada (BoC) fresh information on how inflation is changing, which they use to set interest rates.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is losing ground after registering gains in the previous four consecutive sessions and trading around 98.00 during the early European hours on Tuesday.
The EUR/USD pair is trading higher on Tuesday, snapping a four-day losing streak, as European Union (EU) and United States (US) representatives continue to look for a deal to avoid a 30% levy announced by US President Donald Trump, with one eye on the US Consumer Price Index (CPI) release due later
The New Zealand Dollar bounced up from multi-week lows at 0.5968 duru¡ing Tuesday’s Asian session and trimmed some of the previous losses fuelled by upbeat China’s GDP data returning above 0.5980 at the time of writing.
The Pound Sterling (GBP) trades cautiously near the three-week low around 1.3430 against the US Dollar during the European trading session on Tuesday.
Spain Consumer Price Index (MoM) above expectations (0.6%) in June: Actual (0.7%)
Spain Harmonized Index of Consumer Prices (YoY) registered at 2.3% above expectations (2.2%) in June
Spain Harmonized Index of Consumer Prices (MoM) came in at 0.7%, above forecasts (0.6%) in June
The EUR/GBP cross trades in positive territory for the third consecutive day near 0.8690 during the early European session on Tuesday.
Here is what you need to know on Tuesday, July 15:
West Texas Intermediate (WTI) Oil price falls on Tuesday, early in the European session. WTI trades at $65.73 per barrel, down from Monday’s close at $65.83.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $68.42 after its previous daily close at $68.50.
US President Donald Trump said on Tuesday that he is disappointed but not done with Russian President Vladimir Putin, per the BBC.
FX option expiries for Jul 15 NY cut at 10:00 Eastern Time via DTCC can be found below.
The AUD/JPY cross ticks lower during the Asian session on Tuesday, though it lacks follow-through and remains confined in the previous day's narrow trading range. Spot prices currently hover around the 96.60-96.65 area, down less than 0.10% for the day.
The USD/CHF pair trades on a negative note near 0.7965 during the early European session on Tuesday. Persistent trade-related uncertainties and geopolitical risks boost the safe-haven flows, supporting the Swiss Franc (CHF). The US consumer inflation figures will take center stage later on Tuesday.
The USD/CAD pair trades broadly stable near 1.3700 during the late Asian trading session on Tuesday.
West Texas Intermediate (WTI) Oil price extends its losses for the second successive session, trading around $65.80 per barrel during the European hours on Tuesday.
The GBP/USD pair consolidates near the 1.3430-1.3435 region, just above a three-week low touched during the Asian session on Tuesday as traders keenly await the release of the US consumer inflation figure.
The EUR/USD pair trades calmly around 1.1670 during the Asian trading session on Tuesday. The major currency pair oscillates in a limited range, with investors awaiting fresh development on trade negotiations between the United States (US) and the European Union (EU).
Gold prices rose in India on Tuesday, according to data compiled by FXStreet.
The EUR/JPY cross trades in positive territory near 172.45 during the Asian trading hours on Tuesday. The rising expectation that the Bank of Japan (BoJ) would keep interest rates low for longer than it wants could weigh on the Japanese Yen (JPY) against the Euro (EUR).
The Indian Rupee (INR) ticks up at open against the US Dollar (USD) on Tuesday. The USD/INR pair edges lower to near 86.00 even as the US Dollar (USD) demonstrates strength ahead of the United States (US) Consumer Price Index (CPI) data for June, which will be published at 12:30 GMT.
Gold price (XAU/USD) attracts some dip-buying during the Asian session on Tuesday and reverses a major part of the previous day's retracement slide from a nearly three-week high.
Silver price (XAG/USD) holds ground after registering more than 0.50% losses, trading around $38.10 per troy ounce during the Asian hours on Tuesday. The Silver price may further advance toward a 14-year high of $39.13, which was reached on Monday, amid renewed safe-haven demand.
Chinese President Xi Jinping is expected to meet Australia’s Prime Minister Anthony Albanese on Tuesday in Beijing to discuss trade and security amid global trade turmoil and pressure from the US over security commitments to Taiwan, per the Financial Times.
South Korea Money Supply Growth rose from previous 5.8% to 6% in May
The United States (US) Bureau of Labor Statistics (BLS) will publish the all-important Consumer Price Index (CPI) data for June on Tuesday at 12:30 GMT.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is edging lower after four days of gains and trading around 98.10 during the Asian hours on Tuesday.
Following the publication of the high-impact China’s Gross Domestic Product (GDP) and activity data, the National Bureau of Statistics (NBS) expressed its outlook on the economy during its press conference on Tuesday.
The NZD/USD pair remains firm near 0.5980 during the Asian trading hours on Tuesday. The New Zealand Dollar (NZD) edges slightly higher against the US Dollar (USD) after the release of Chinese economic data.
The Japanese Yen (JPY) struggles near a three-week low against its American counterpart during the Asian session on Tuesday and seems vulnerable to prolonging a two-week-old downtrend.
The Australian Dollar (AUD) gains ground against the US Dollar (USD) on Tuesday, following China’s economic data.
South Korea Trade Balance remains unchanged at $9.08B in June
China’s economy expanded at an annual rate of 5.2% in the second quarter (Q2) of 2025, compared to a 5.4% growth in the first quarter, the official data published by the National Bureau of Statistics (NBS) showed on Tuesday. Data beat the market forecast of 5.1% in the reported period.
China Industrial Production (YoY) came in at 6.8%, above forecasts (5.6%) in June
China Gross Domestic Product (YoY) above expectations (5.1%) in 2Q: Actual (5.2%)
China Gross Domestic Product (QoQ) came in at 1.1%, above expectations (0.9%) in 2Q
China Fixed Asset Investment (YTD) (YoY) registered at 2.8%, below expectations (3.7%) in June
China Retail Sales (YoY) came in at 4.8% below forecasts (5.6%) in June
China House Price Index rose from previous -3.5% to -3.2% in June
China House Price Index up to -0.27% in June from previous -3.5%
The European Union (EU) is preparing tariffs on US goods, including aircraft, alcohol, coffee, and medical devices worth 72 billion euros ($84 billion) in case no trade deal is reached by August 1, per the Wall Street Journal.
The Gold price (XAU/USD) gains ground to near $3,350 during the early Asian session on Tuesday. The precious metal edges higher amid safe-haven demand after US President Donald Trump threatened 100% Russia tariffs.
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.1498 as compared to the previous day's fix of 7.1491 and 7.1758 Reuters estimate.
US President Donald Trump late Monday threatened to impose 100% tariffs” on Russia if President Vladimir Putin does not agree to a deal to end his invasion of Ukraine in 50 days, per Bloomberg. Trump added that the levies would come in the form of “secondary tariffs,” without providing details.
Japan 10-year Government Bond Yields (JGB) climbed to near 1.59%, the highest since 2008, in Tuesday’s early Asian session. Traders brace for a potential power shift in upper house elections this weekend that could accelerate fiscal spending and drive super-long bond yields higher.
Australia Westpac Consumer Confidence: 0.6% (July) vs 0.5%
The USD/CAD pair holds steady around 1.3705 during the early Asian session on Tuesday. Traders largely shrugged off fresh tariffs ahead of Consumer Price Index (CPI) inflation data from the United States (US) and Canada on Tuesday.
GBP/USD sank further on Monday, closing lower for a seventh consecutive market session and slipping back below the 50-day Exponential Moving Average (EMA) for the first time since mid-April.
Japan and the European Union (EU) plan to issue a joint statement aimed at deepening their economic partnership, with a particular focus on trade, advanced technology, and greater supply chain coordination, per Japanese media Yomiuri.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $65.90 during the early Asian trading hours on Tuesday. The WTI price edges higher amid concerns over the United States' sanctions on Russia that may affect global supplies.
Silver price forms a ‘shooting star’ candle chart pattern amid a day in which precious metals were pressured as traders priced in initial risk-off sentiment.
The EUR/USD remains pressured during the North American session, below the 1.1700 figure as the Dollar got boosted by Trump unveiling new tariff letters on two of its largest trade partners, increasing appetite for haven assets. At the time of writing, the pair trades at 1.1667, down 0.15%.