Trading news

United States (US) President Donald Trump struck a mix of new and familiar talking points during a cabinet meeting on Tuesday.

Yesterday, French Prime Minister François Bayrou announced that a no-confidence vote will be held on September 8th. This comes in the wake of the ongoing political impasse, a phenomenon we have been highlighting for some time, ABN AMRO's Senior Fixed Income Strategist Sonia Renoult reports.

Catherine Mann, a member of the Bank of England’s Monetary Policy Committee (MPC), said on Tuesday that the bank rate should be held persistently to lean against inflation risks. She added that she was ready to cut rates more forcefully if downside risks to growth materialise.

United States Richmond Fed Manufacturing Index above expectations (-17) in August: Actual (-7)

USD/JPY lost its traction and declined below 147.00 after posting strong gains on Monday. Although the pair recovers above 147.50 region in the second half of the day on Tuesday, it remains in negative territory.

The Euro (EUR) is clawing back ground on Tuesday, with EUR/USD rebounding after Monday’s hiccup and edging toward the 1.1650 area. Continued upside could put a test for the monthly highs near 1.1740 (August 22) back on the radar.

United States Housing Price Index (MoM) came in at -0.2% below forecasts (0%) in June

United States S&P/Case-Shiller Home Price Indices (YoY) registered at 2.1%, below expectations (2.2%) in June

United States Redbook Index (YoY) up to 6.5% in August 22 from previous 5.9%

Following Monday's bearish action, GBP/USD stages a rebound on Tuesday. At the time of press, the pair was up 0.25% on the day at 1.3485.

Gold prices are climbing again, snapping Monday’s brief dip and pushing back toward the key $3,400 per ounce level.

United States Durable Goods Orders ex Transportation registered at 1.1% above expectations (0.2%) in July

United States Durable Goods Orders registered at -2.8% above expectations (-4%) in July

United States Durable Goods Orders ex Defense up to -2.5% in July from previous -9.4%

Brazil Mid-month Inflation registered at -0.14% above expectations (-0.23%) in August

The Euro (EUR) is up 0.2% against the US Dollar (USD) and outperforming all of the G10 currencies in quiet trade, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Canadian Dollar (CAD) is trading in a tight range and entering Tuesday’s NA session with a marginal gain against the US Dollar (USD)

The US Dollar (USD) is soft but overall movement remains limited as G10 currencies respond to news of President Trump’s moves to fire Fed Gov, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The AUD/USD pair ticks higher to near the psychological level of 0.6500 during the European trading hours on Tuesday.

The Euro posted a significant reversal from the 0.8670 area on Monday, printing a bearish engulfing candle on the daily chart. This figure has strongly negative connotations and has shifted the pair’s focus towards the key support area around 0.8600.