United States NFIB Business Optimism Index came in at 97.4, above forecasts (95.8) in June

OCBC strategists Sim Moh Siong and Christopher Wong note the US Dollar (USD) has strengthened broadly on higher Oil prices, hawkish Federal Reserve (Fed) rhetoric and softer risk sentiment.

BNY Markets strategists John Velis and David Tam discuss new Federal Reserve (Fed) task forces and focus on the Communications group led by Mervyn King, Arminio Fraga and Peter Fisher.

Bank of England (BoE) Governor Andrew Bailey said on Tuesday that the “resumption of hostilities in the Gulf underlines instability going forward.”

ING strategists Francesco Pesole, Frantisek Taborsky and Chris Turner note that higher Crude and Gulf tensions are not yet fully priced, leaving short-term upside risks for the US Dollar (USD).

EUR/CAD extends its losing streak for the third consecutive day, trading around 1.6070 during the European hours on Tuesday. The currency cross depreciates as the commodity-linked Canadian Dollar (CAD) gains ground on higher oil prices.

Spain 9-Month Letras Auction rose from previous 2.518% to 2.623%

Spain 3-Month Letras Auction rose from previous 2.239% to 2.366%

Societe Generale technical analysts note that EUR/CHF has moved above its 200-DMA and is challenging resistance defined by the March and April highs.

West Texas Intermediate (WTI) oil price continues to gain ground, trading around $80.20 per barrel during the European hours on Tuesday. Crude oil prices rise due to rising supply concerns, which could be attributed to the escalating United States (US)-Iran tensions.

Here is what you need to know on Tuesday, July 14:

DBS Group Research economist Chang Wei Liang analyses long-term Japanese Yen valuation using DBS’s DEER framework, highlighting that JPY remains significantly undervalued near historically weak levels.

India WPI Inflation increased to 9.87% in June from previous 9.68%

Switzerland Producer and Import Prices (YoY) fell from previous -1.8% to -2.1% in June

USD/IDR depreciates after registering gains in the previous day, trading around 18,140 during the Asian hours on Tuesday. The Indonesian Rupiah (IDR) stabilizes against the US Dollar (USD), buoyed by a rally in domestic equities.

Japan Capacity Utilization rose from previous -0.8% to 0.1% in May

Japan Industrial Production (YoY) declined to -2.1% in May from previous -1.7%

Japan Industrial Production (MoM) below forecasts (0.5%) in May: Actual (0.1%)

China's Trade Balance for June, in Chinese Yuan (CNY) terms, arrived at CNY859.05 billion, widen from the previous figure of CNY723.98 billion.Exports surge 20.8% year-over-year (YoY) in June from a 13.8% increase seen in May.

China Trade Balance CNY climbed from previous 723.98B to 859.05B in June

China Trade Balance USD above forecasts ($121B) in June: Actual ($125.62B)

China Exports (YoY) CNY increased to 20.8% in June from previous 13.8%

China Imports (YoY) came in at 36%, above expectations (24%) in June

China Exports (YoY) above expectations (18.2%) in June: Actual (27%)

The United States Central Command (CENTCOM) said on Tuesday that US forces complete new strikes on Iranian military targets, adding that more than 50,000 US service members are currently deployed across the Middle East, Reuters reported.

Japan’s Finance Minister Satsuki Katayama said on Tuesday that the government may consider a pension asset allocation tweak if the environment changes.

Australia National Australia Bank's Business Conditions remains unchanged at 3 in June

Australia National Australia Bank's Business Confidence up to -5 in June from previous -14

Australia Westpac Consumer Confidence rose from previous -2.9% to 83.9% in July

Singapore Gross Domestic Product (QoQ) in line with expectations (1.1%) in 2Q