John Velis at BNY Markets reiterates that he expects no Federal Reserve rate hikes this year, even as risks remain skewed to the upside.
EUR/CAD continues its losing streak for the fifth consecutive day, trading around 1.6080 during the European hours on Tuesday. The Euro (EUR) is under pressure as rising risk aversion, driven by escalating US-Iran tensions, weighs on the cross.
TD Securities’ Prashant Newnaha and Alex Loo note that the Reserve Bank of Australia left the cash rate at 4.35% in a unanimous decision, with the Statement and updated forecasts sounding less hawkish than expected.
Commerzbank’s Tatha Ghose describes recent Forint weakness as a high-beta correction that only partly erases post-election outperformance.
Deutsche Bank strategists report that US equities saw modest losses as Oil extended gains, with the S&P 500 easing slightly from record highs and chipmakers leading declines. Energy and health care outperformed.
Here is what you need to know on Tuesday, August 11:
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note EUR/USD has stalled after last week’s surge, with flat momentum pointing to a 1.1530–1.1560 intraday range.
AUD/NZD pares its daily gains, trading around 1.1960 during the Asian hours on Tuesday. The Australian Dollar (AUD) has drifted lower following the Reserve Bank of Australia’s (RBA) latest monetary policy decision, keeping the currency cross on a weaker footing.
USD/IDR gains ground after two days of losses, trading around 17,850 during the Asian hours on Tuesday.