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.

Australia RBA Interest Rate Decision in line with forecasts (4.35%)

Netherlands, The Consumer Price Index n.s.a (YoY) registered at 3.2% above expectations (3.1%) in July

USD/JPY moves little after posting nearly 1% gains in the previous day, trading around 159.30 during the Asian hours on Tuesday. The pair moved little today, trading in tight ranges as market volumes remained thin with Japanese markets closed for the Mountain Day holiday.

According to the Jiji Press, the Bank of Japan (BoJ) may consider an additional interest rate increase at its next policy meeting on September 17-18, after leaving them unchanged in July, to counter upside inflation risks.

Gold (XAU/USD) scales higher for the third consecutive day – also marking the fifth day of a positive move in the previous six – and climbs to its highest level since June 5, further beyond the $4,400 mark during the Asian session on Tuesday.

West Texas Intermediate (WTI) oil price moves little after registering gains over 6.5% in the previous day, trading around $81.40 during the Asian hours on Tuesday.

The Reserve Bank of Australia (RBA) is on track to keep the Official Cash Rate (OCR) steady at 4.35% for the second consecutive meeting on Tuesday.

Colombia Consumer Price Index (MoM) registered at 0.17%, below expectations (0.35%) in July

Colombia Consumer Price Index (YoY) below forecasts (6.2%) in July: Actual (6.03%)

Cleveland Fed President Beth Hammack crossed the wires on Monday and was hawkish, noting that the current rate is not “meaningfully restricting the economy” and that there is a need for some number of rate hikes.

US Treasury yields rose on Monday as traders braced for the release of US inflation figures this week, following a worse-than-expected Nonfarm Payrolls report last Friday.

Standard Chartered analysts Carol Liao and Moriarty Lam argue that China’s reflation remains largely cost-driven, with industrial profit recovery concentrated in AI- and oil-related sectors. They highlight that domestic demand continues to lag supply, creating a persistent imbalance.

TD Securities notes July payrolls surprised sharply to the downside, with headline jobs dragged by government hiring, while private employment stayed near breakeven.

In a major setback to efforts to reopen the Strait of Hormuz and cool Middle East tensions, Iran ruled out any future negotiations with United States (US) President Donald Trump. Iranian outlets and a X post by y an adviser to Parliament Speaker Mohammad Bagher Ghalibaf.

United States (US) President Donald Trump used a post on his Truth Social platform to push back on Iran's demands for war reparations, arguing that Tehran, not Washington, should carry the bill for the damage and lives lost across the region.

HSBC Asset Management notes that Emerging Market local-currency bonds have delivered strong returns over the past four years, supported by credible policies and attractive real yields, but year-to-date performance has softened as US Treasury yields rose and EM-US real rate differentials narrowed.

Nordea economist Jan Størup Nielsen notes that Danish inflation eased slightly in July, with headline consumer prices up 1.7% year-over-year and core inflation steady at 2.3%.

Rabobank's Senior FX Strategist Jane Foley notes Eurozone Q2 Gross Domestic Product (GDP) and Purchasing Managers' Index (PMI) data surprised to the upside, suggesting resilience despite higher energy prices and supply disruptions.

TD Securities’ US economists Oscar Munoz and Eli Nir expect US output growth to move sideways in 2026 as the lingering Oil shock and Iran-related risks keep the Federal Reserve on hold through year-end.

Commerzbank’s Tatha Ghose notes that the Hungarian Forint (HUF) has only partially retraced its post-election gains and is expected to recover if global risk conditions stabilise, with EUR/HUF seen returning towards 350–355 in coming months.

Brown Brothers Harriman’s (BBH) Elias Haddad notes that Norwegian Krone (NOK) is trading mixed as firmer Oil offsets the drag from reduced Norges Bank tightening expectations.

Rabobank’s Bas van Geffen comments that weaker United States (US) Nonfarm Payrolls (NFP) and a drop in labour supply have reduced urgency for another Federal Reserve (Fed) rate hike, though policy remains data‑dependent.

Societe Generale analysts Michael Haigh and Jeremy Sellem argue that Copper has shifted into a policy-driven trade as Section 232 tariffs reshape the COMEX-LME arbitrage.

Nomura’s Josie Anderson, George Buckley and Andrzej Szczepaniak expect Norges Bank to keep its policy rate at 4.25% at the August meeting, citing softer underlying inflation and benign domestic data.

ING’s Frantisek Taborsky highlights a busy Central and Eastern Europe calendar with Czech inflation, Turkey’s inflation report and key Polish data, including GDP and core inflation.

Brown Brothers Harriman’s Elias Haddad notes that the Australian Dollar (AUD) remains one of the most attractive G10 currencies thanks to favorable carry and a hawkish Reserve Bank of Australia (RBA).