New Zealand GDT Price Index: -0.8% vs -4.3%

The Brazilian Real (BRL) seesaws between mild gains and losses against the US Dollar (USD) on Tuesday, as markets await the Central Bank of Brazil meeting scheduled for Wednesday at 21:00 GMT.

Colombia Retail Sales (YoY) came in at 17.9%, above forecasts (11.6%) in July

Gold extended its rally in the second half of the day on Tuesday and reached a new record-high above $3,700.

United States Business Inventories in line with expectations (0.2%) in July

United States NAHB Housing Market Index registered at 32, below expectations (33) in September

Industrial Production in the United States expanded by 0.1% on a monthly basis in August, the Federal Reserve (Fed) reported on Tuesday. This reading followed the 0.4% contraction recorded in July and came in better than the market expectation for a decrease of 0.1%.

United States Industrial Production (MoM) came in at 0.1%, above expectations (-0.1%) in August

United States Capacity Utilization meets forecasts (77.4%) in August

United States Redbook Index (YoY) fell from previous 6.6% to 6.3% in September 12

United States Import Price Index (YoY) climbed from previous -0.2% to 0% in August

The Indonesian Rupiah (IDR) is trading cautiously against the US dollar (USD) on Tuesday, with the USD/IDR pair up 0.2% on the day at around 16,400.

United States Retail Sales (MoM) above expectations (0.2%) in August: Actual (0.6%)

United States Retail Sales ex Autos (MoM) came in at 0.7%, above forecasts (0.4%) in August

Canada Consumer Price Index (MoM) registered at -0.1%, below expectations (0%) in August

United States Import Price Index (MoM) came in at 0.3%, above forecasts (-0.1%) in August

Canada Consumer Price Index - Core (MoM) increased to 0.2% in August from previous 0.1%

United States Retail Sales (YoY) climbed from previous 3.9% to 5% in August

United States Retail Sales Control Group came in at 0.7%, above forecasts (0.4%) in August

United States Export Price Index (YoY): 3.4% (August) vs 2.2%

Canada Housing Starts s.a (YoY) came in at 245.8K, below expectations (277.5K) in August

Canada’s August CPI is expected to confirm that underlying inflation pressures are stable but fading, leaving the Bank of Canada free to resume easing as labor market weakness deepens and policy divergence weighs on CAD, particularly against AUD and NOK, BBH FX analysts report.

Chinese refineries processed 63.46 million tons of crude oil in August, according to data from the National Bureau of Statistics (NBS). This was 7.4% more than in the same month last year, Commerzbank's commodity analyst Carsten Fritsch notes.

The United States (US) Retail Sales for August is due for release today at 12:30 GMT. The Retail Sales data, a key measure of consumer spending, is expected to have grown at a moderate pace of 0.2%, against a 0.5% increase seen in July.

In order to reduce these permanently, the most important buyers of Russian Oil would have to be deterred from making further purchases, Commerzbank's commodity analyst Carsten Fritsch notes.

Room for US Dollar (USD) to drop below 7.1100; any decline is likely to be slow, and 7.1000 may not come into view so soon, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Markets expect the FOMC to deliver a dovish cut because the US labor market is worsening. That can drag US Dollar (USD) lower and support risk assets, BBH FX analysts report.

The price of Silver is also soaring. This morning, it reached a new 14-year high of nearly $42.8 per troy ounce, Commerzbank's commodity analyst Carsten Fritsch notes.

The dollar has started the week on the softish side. This may partly involve some pre-positioning ahead of tomorrow night's Fed rate cut. But it will also be a function of the benign external environment, ING's FX analyst Chris Turner notes.

European Central Bank (ECB) policymaker and Central Bank of Malta Governor Edward Scicluna said on Tuesday, “there is no cut already in a box and waiting to be unpacked.”