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.
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.
Germany’s industrial sector activity surprisingly grow at a faster pace of 0.9% Month-on-Month (MoM) in May, the latest data published by Destatis showed on Tuesday.
Asian equity markets mostly decline on Tuesday as a fresh wave of technology sector selling completely overshadowed Wall Street's tech-led rally from the previous night.
Minoru Kiuchi, Minister of State for Economic and Fiscal Policy of Japan, said on Tuesday that “Tokyo is not easing fiscal discipline, presenting it clearly in the economic plan.”
United Overseas Bank’s (UOB) Quek Ser Leang notes USD/SGD has seen downward momentum slow after last week’s sharp drop, with the pair expected to stay between 1.2900 and 1.2935 intraday. On a 1–3 week horizon, UOB maintains a neutral stance, projecting consolidation within 1.2890–1.2990.
BNY’s Geoff Yu stresses that Chinese equities and Chinese Yuan (CNY) remain heavily under-owned versus APAC (Asia-Pacific) peers, with cross-border holdings at very low levels.