ไทม์ไลน์ข่าวสาร forex

17:45 France’s government faces collapse and markets react – ABN AMRO
Yesterday, French Prime Minister François Bayrou announced that a no-confidence vote will be held on September 8th. This comes in the wake of the ongoing political impasse, a phenomenon we have been highlighting for some time, ABN AMRO's Senior Fixed Income Strategist Sonia Renoult reports.

Yesterday, French Prime Minister François Bayrou announced that a no-confidence vote will be held on September 8th. This comes in the wake of the ongoing political impasse, a phenomenon we have been highlighting for some time, ABN AMRO's Senior Fixed Income Strategist Sonia Renoult reports. Broader spillover effects across the eurozone"The announcement has triggered a market correction in French assets. The OAT-Bund spread is currently trading at 77bp, compared to 70bp at last Friday’s close. As outlined in our previous outlook, this aligns with our expectations, as we had anticipated the government’s collapse due to the contentious 2026 budget negotiations. Accordingly, we had already priced in wider country spreads for Q3 and Q4 in light of this situation across EGBs and most particularly for France and Belgium with a spread of 85 and 70bp, respectively, by the end of the year.""Looking ahead, we expect the OAT-Bund spread to remain within the 75-80 bp range until September 8th, as the market adopts a 'wait-and-see' approach. In the event of a government collapse, if President Macron appoints a new Prime Minister—likely from the centre-left this time—instead of calling for new legislative elections, we do not anticipate a further widening of the 10-year spread. In this scenario, the spread would likely trend back toward the 70 bp level. However, this assumption hinges on the expectation that a budget incorporating some degree of fiscal consolidation will be successfully adopted next year.""On the other hand, if it becomes clear that Macron intends to call for new elections following the government’s fall, spreads could rise sharply. This risk is heightened by the continued strength of populist parties in the polls, particularly the far-right party, well ahead in the most recent political survey. Meanwhile, the current centre coalition government ranks third, trailing behind the left-wing coalition. In such a scenario, the risk lies in the likelihood of substantially less fiscal consolidation than anticipated, which could, in turn, lead to a further credit rating downgrade for France. A potential new round of elections would also likely have broader spillover effects across the eurozone, leading to a widening of spreads in other countries. Conversely, if a new government is formed without elections, the spillover effects are expected to remain contained by September 8th."

17:18 BoE’s Mann: A more persistent hold on the bank rate is appropriate right now
Catherine Mann, a member of the Bank of England’s Monetary Policy Committee (MPC), said on Tuesday that the bank rate should be held persistently to lean against inflation risks. She added that she was ready to cut rates more forcefully if downside risks to growth materialise.

Catherine Mann, a member of the Bank of England’s Monetary Policy Committee (MPC), said on Tuesday that the bank rate should be held persistently to lean against inflation risks. She added that she was ready to cut rates more forcefully if downside risks to growth materialise.Key QuotesResearch shows increased persistence in inflation but also shows a weak growth outlook.

Combination of the two makes the monetary policymaker’s job harder.

In my view, the BOE scenario outlining upside risks to inflation through inflation persistence is playing out.

Downside risk to the demand scenario remains a risk but is not my central case.

Inflation persistence scenario implies a significantly tighter path for policy than is embedded in the market curve, which is not explicitly my view.

A more persistent hold on Bank Rate is appropriate right now to maintain the tight monetary policy stance needed to lean against inflation persistence persisting.

I stand ready for a forceful policy action, in the form of larger, more rapid Bank Rate cuts, should the downside risks to domestic demand start materialising.

17:00 United States Richmond Fed Manufacturing Index above expectations (-17) in August: Actual (-7)
United States Richmond Fed Manufacturing Index above expectations (-17) in August: Actual (-7)

16:06 USD/JPY recovers above 147.50 as markets focus on Trump-Fed feud
USD/JPY lost its traction and declined below 147.00 after posting strong gains on Monday. Although the pair recovers above 147.50 region in the second half of the day on Tuesday, it remains in negative territory.

16:00 EUR/USD regains traction near 1.1650, focus stays on US docket
The Euro (EUR) is clawing back ground on Tuesday, with EUR/USD rebounding after Monday’s hiccup and edging toward the 1.1650 area. Continued upside could put a test for the monthly highs near 1.1740 (August 22) back on the radar.

The Euro (EUR) is clawing back ground on Tuesday, with EUR/USD rebounding after Monday’s hiccup and edging toward the 1.1650 area. Continued upside could put a test for the monthly highs near 1.1740 (August 22) back on the radar.Dollar under pressureThe US Dollar (USD) is losing traction, giving back part of Monday’s gains, as traders digest renewed political drama. President Trump’s attempt to fire FOMC Governor Lisa Cook has once again stirred concerns about the Fed's independence.Yields and data in focusMixed US Treasury yields add to the softer tone in the Greenback, while 10-year bund yields hover just below 2.75%. On the data front, US Durable Goods Orders slumped 2.8% in July vs. the prior month. Later today, housing numbers (FHFA, Case-Shiller) and Consumer Confidence measured by the Conference Board will take the spotlight.Key levelsUpside targets for EUR/USD start at the August top at 1.1742 (August 22 ). A break above there could clear the path toward the weekly high of 1.1788 (July 24) and the 2025 ceiling of 1.1830 (July 1).On the downside, initial support lies at the provisional 100-day SMA at 1.1495, seconded by the August floor of 1.1391 (August 25). Deeper losses could expose the weekly trough of 1.1210 (May 29) ahead of the May base at 1.1064 (May 12), all prior to the 1.1000 threshold.

16:00 United States Housing Price Index (MoM) came in at -0.2% below forecasts (0%) in June
United States Housing Price Index (MoM) came in at -0.2% below forecasts (0%) in June

16:00 United States S&P/Case-Shiller Home Price Indices (YoY) registered at 2.1%, below expectations (2.2%) in June
United States S&P/Case-Shiller Home Price Indices (YoY) registered at 2.1%, below expectations (2.2%) in June

15:55 United States Redbook Index (YoY) up to 6.5% in August 22 from previous 5.9%
United States Redbook Index (YoY) up to 6.5% in August 22 from previous 5.9%

15:47 GBP/USD recovers toward 1.3500 ahead of US consumer sentiment data
Following Monday's bearish action, GBP/USD stages a rebound on Tuesday. At the time of press, the pair was up 0.25% on the day at 1.3485.

15:40 Gold picks up pace, retargets $3,400 on USD selling
Gold prices are climbing again, snapping Monday’s brief dip and pushing back toward the key $3,400 per ounce level.

Gold prices are climbing again, snapping Monday’s brief dip and pushing back toward the key $3,400 per ounce level.Dollar slide fuels the rallyThe renewed push higher comes as the US dollar resumes its downward trend, while mixed Treasury yields add to the momentum. Political jitters also lend support after President Trump’s shock move to fire FOMC Governor Lisa Cook reignited debate over the central bank’s independence.Fed easing hopes stay aliveTraders continue to price in Fed rate cuts as soon as September, a view reinforced by Powell’s dovish tone at Jackson Hole last week. That helped bullion recover quickly after Monday’s pause.Data watchUS Durable Goods Orders fell 2.8% in July, but the release barely moved the US Dollar. Attention now turns to the Conference Board’s Consumer Confidence numbers.Technical pictureResistance looms at the August ceiling of $3,409 (August 8), followed by the July peak at $3,439 (July 23) and the June top at $3,451 (June 16).On the other hand, support sits at the July base of $3,268 (July 30) and the June valley at $3,247 (June 30). A deeper pullback could expose the May trough at $3,120 (May 15), with the 200-day SMA at $3,062 as the key longer-term support.

15:30 United States Durable Goods Orders ex Transportation registered at 1.1% above expectations (0.2%) in July
United States Durable Goods Orders ex Transportation registered at 1.1% above expectations (0.2%) in July

15:30 United States Durable Goods Orders registered at -2.8% above expectations (-4%) in July
United States Durable Goods Orders registered at -2.8% above expectations (-4%) in July

15:30 United States Durable Goods Orders ex Defense up to -2.5% in July from previous -9.4%
United States Durable Goods Orders ex Defense up to -2.5% in July from previous -9.4%

15:00 Brazil Mid-month Inflation registered at -0.14% above expectations (-0.23%) in August
Brazil Mid-month Inflation registered at -0.14% above expectations (-0.23%) in August

14:49 EUR up modestly and outperforming G10 – Scotiabank
The Euro (EUR) is up 0.2% against the US Dollar (USD) and outperforming all of the G10 currencies in quiet trade, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Euro (EUR) is up 0.2% against the US Dollar (USD) and outperforming all of the G10 currencies in quiet trade, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report. Spreads offer support"Markets appear to be ignoring news of fresh political turmoil in France following the prime minister’s announcement of a confidence vote, expected to take place on September 8." "Fundamental releases remain limited and the highlight remains Germany’s preliminary CPI scheduled for later this week. Interest rate differentials remain supportive as Germany-US yield spreads hover just below their recent highs. We see scope for continued support as markets shed their expectations for ECB easing and price out rate cuts." "The RSI is at 50, offering no clear momentum. Congestion remains centered around the 50 day MA (1.1652), and descending resistance has been observed in the mid-1.17s. We look to a near-term range bound between 1.1580 and 1.1680."

14:47 CAD quiet ahead of Macklem speech – Scotiabank
The Canadian Dollar (CAD) is trading in a tight range and entering Tuesday’s NA session with a marginal gain against the US Dollar (USD)

The Canadian Dollar (CAD) is trading in a tight range and entering Tuesday’s NA session with a marginal gain against the US Dollar (USD)Markets to fade BoC easing"Fundamentals remain supportive as US-Canada yield spreads threaten fresh lows. The outlook for relative central bank policy will remain the primary focus for the CAD as market participants look to BoC Gov. Macklem’s 2:45pm ET speech in Mexico City. Macklem will be speaking on ‘Flexible-inflation targeting in a more shock-prone world’ and his comments are likely to provide some insight into the BoC’s thinking ahead of the next rate decision on September 17." "Markets are still pricing about 8bpts of easing for the meeting, however the scope for easing remains limited given that inflation remains well above target. Trade policy developments—easing in US/Canada tensions—are another consideration that should keep the BoC on the sidelines for now." "USD/CAD’s technical picture is somewhat mixed as market participants consider the conflicting signals offered by Friday’s bearish outside reversal and balance them against bullish trend and momentum indicators. The near-term balance of risk favors a push below 1.3800 and we look to a near-term range bound between 1.3780 support and 1.3920 resistance."

14:43 USD trading defensively as markets digest Fed’s Cook – Scotiabank
The US Dollar (USD) is soft but overall movement remains limited as G10 currencies respond to news of President Trump’s moves to fire Fed Gov, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The US Dollar (USD) is soft but overall movement remains limited as G10 currencies respond to news of President Trump’s moves to fire Fed Gov, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report. USD trading defensively as markets digest risks for policy and independence"Cook and consider the implications of renewed political turmoil in France. Cook is said to be disputing the firing, and has no intention of resigning. Late Monday, Dallas Fed President Logan delivered a speech in which she highlighted the risk of temporary pressures in money markets around quarter-end next month, given the Fed’s ongoing balance sheet reduction. The topic warrants close attention given recent periods of money market turmoil, most notably in 2019 when turbulence forced 75bpts of easing in the meetings that followed." "Most G10 currencies are showing modest gains vs. the USD as we head into Tuesday’s NA session, lead by EUR, GBP, and JPY. MXN, CAD, and AUD are up marginally, while NZD, CHF, and SEK are flat. The NOK is a notable underperformer, down 0.3%. The broader market’s tone appears somewhat mixed as equity futures trade somewhat defensively while Treasurys reflect shifting Fed risks—with lower yields at the front end while the back end sells off, delivering a steeper curve overall. In commodities, oil prices are soft and fading their recent recovery on the back of renewed concerns of oversupply as the IEA warned of a possible record surplus next year." "Copper is soft, in the middle of its recent range, and gold prices are consolidating at the midpoint of their range since mid April. The focus for Tuesday’s NA session will center on a heavy US data release schedule that includes the Philly, Richmond, and Dallas Fed activity indices, as well as durable goods order and the US Conference Board’s consumer confidence figures. There are no scheduled Fed speakers."

14:40 AUD/USD edges up to near 0.6500 ahead of US Durable Goods Orders data
The AUD/USD pair ticks higher to near the psychological level of 0.6500 during the European trading hours on Tuesday.

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The Aussie pair edges up as the US Dollar (USD) faces slight selling pressure, following the release of a letter by United States (US) President Donald Trump stating the termination of Federal Reserve (Fed) Governor Lisa Cook over mortgage allegations.At the time of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.2% lower to near 98.20.On late Monday, US President Trump fired Cook from her designation, with immediate effect, for making false statements on one or more mortgage agreements.However, Cook said that she will continue to carry out her duties as Fed Governor. In a statement shared by her attorneys, “President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so.”Market experts are seeing the event as an attack on Fed’s independence for fulfilling his economic agenda. "The concern is the intent of the Trump administration: it’s not to preserve Fed integrity, it’s to install Trump’s own people at the Fed,” analysts at Capital.com said, Reuters reported.Trump had attacked Fed’s dignity a several times by threatening to remove Chair Jerome Powell for arguing in favor of holding interest rates steady.In Tuesday’s session, investors will focus on US Durable Goods Orders data for July, which will be published at 12:30 GMT. Economists expect fresh orders for durable goods have declined again, but at a moderate pace of 4%, compared to a 9.3% contraction seen in June.Meanwhile, the Australian Dollar (AUD) trades broadly stable even as Reserve Bank of Australia (RBA) minutes of the August monetary policy meeting signaled that officials see the need of further interest rate cuts in the remainder of the year. However, the pace of rate cuts would be determined by incoming data and the balance of global risks. US Dollar FAQs What is the US Dollar? The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away. How do the decisions of the Federal Reserve impact the US Dollar? The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback. What is Quantitative Easing and how does it influence the US Dollar? In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar. What is Quantitative Tightening and how does it influence the US Dollar? Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.

14:37 EUR/GBP Price Forecast: Euro reversal brings 0.8600 support area into focus
The Euro posted a significant reversal from the 0.8670 area on Monday, printing a bearish engulfing candle on the daily chart. This figure has strongly negative connotations and has shifted the pair’s focus towards the key support area around 0.8600.

14:33 Oil prices rise due to dwindling hopes for peace in Ukraine – Commerzbank
Oil prices rose last week and also started the new trading week on a bullish note. Brent rose to $69 per barrel and WTI to $65 per barrel.

Oil prices rose last week and also started the new trading week on a bullish note. Brent rose to $69 per barrel and WTI to $65 per barrel. In addition to an unexpectedly sharp decline in US crude Oil inventories, speculation about interest rate cuts and the resulting weaker US dollar provided support. In addition, hopes for an upcoming end to the war in Ukraine are fading, making an easing of sanctions less likely and potentially leading to tougher sanctions against Russia. A meeting between the presidents of the two warring parties, Putin and Zelensky, which seemed possible a week ago, has become less likely due to statements from Russia, Commerzbank's commodity analyst Carsten Fritsch notes. Risks to Oil supplies due to the ongoing war are manifold"The mutual attacks between Russia and Ukraine, however, continue. Ukraine has increasingly targeted Russian energy infrastructure. Last week, the Druzhba Oil pipeline was repeatedly targeted by Ukrainian drone attacks, interrupting the flow of Russian Oil to Hungary and Slovakia. A large Oil refinery in southern Russia, which produces Oil products for export, was also attacked. Over the weekend, there was a drone attack on an important Russian export port near St. Petersburg on the Baltic Sea, where Oil products are also refined and exported. In addition, the pumping station on the Druzhba pipeline that was hit is also needed to transport Oil to the attacked Baltic Sea port." "It can be assumed that Russia's export capabilities have been curtailed by the recent attacks, meaning that less Oil from Russia is likely to reach the world market. Even before the latest attacks, Russia's seaborne Oil exports had fallen to their lowest level in almost six months on a four-week average, according to Bloomberg data (Figure 1). However, no decline in exports via Baltic Sea ports has been observed yet. By contrast, Oil exports on the Pacific coast declined, which could be due to weather conditions or the impending US punitive tariffs against India, even though this is not yet reflected in Bloomberg's figures for deliveries to India. Bloomberg will publish last week's export data later today.""Oil from Kazakhstan could also be cut off from the world market due to the hostilities, as the energy infrastructure in Russia is needed for its export. However, according to the Kazakh Energy Ministry, Oil exports from Kazakhstan via the affected terminal have not been affected so far. Another sore point needs to be considered in this context: Russia could block the transit and export of Kazakh Oil via its territory in the event of tougher Oil sanctions against itself or its customers. The risks to Oil supplies due to the ongoing war are therefore manifold. The price increase observed over the past week is therefore justified."

14:05 Gold price rises noticeably after Powell speech – Commerzbank
The price of Gold jumped by around $50 to just under $3,380 per troy ounce on Friday afternoon, Commerzbank's commodity analyst Carsten Fritsch notes.

The price of Gold jumped by around $50 to just under $3,380 per troy ounce on Friday afternoon, Commerzbank's commodity analyst Carsten Fritsch notes. Gold might not overpass the $3,400 mark"This was triggered by Fed Chairman Powell's speech at the annual Fed symposium in Jackson Hole. In his speech, he paved the way for an interest rate cut in September by stating that the impact of tariffs on inflation was temporary and pointing to downside risks for employment. He also added that, with monetary policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting the policy stance." "The market subsequently priced in a rate cut in September almost in full in Fed Funds Futures. Before Powell's speech, doubts about a rate cut in September had grown. In addition, stronger rate cuts were also priced in for the following months. The US dollar came under pressure as a result of increased rate cut expectations, which benefited Gold as did the marked decline in bond yields. A look at the Gold price in euros shows that the rise in Gold prices was mainly driven by the weaker US dollar." "Although the price in euros also rose, it was nowhere near as strong as the price in US dollars. Following the adjustment of interest rate expectations, the Gold price is unlikely to rise further for the time being. This was already evident yesterday, when the price fell back slightly. The price is therefore not expected to exceed the $3,400 mark for now. New impetus is needed for this to happen. One such impetus could be the ousting of a Fed governor by US President Trump, as this would undermine the independence of the US central bank."

14:00 US Consumer Confidence Preview: Some weakness could emerge in August
The United States (US) will see the release of the August Conference Board’s Consumer Confidence Index on Tuesday. The report is a monthly survey conducted by the Conference Board that gathers information on consumer behaviour, expectations, purchasing intentions, and vacation plans.

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50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The Conference Board survey expects Consumer Confidence in the US to remain subdued in August.The survey could shed further light on consumers’ views following the latest inflation and labour data.The US Dollar Index faces the next support around the 97.50 region. The United States (US) will see the release of the August Conference Board’s Consumer Confidence Index on Tuesday. The report is a monthly survey conducted by the Conference Board that gathers information on consumer behaviour, expectations, purchasing intentions, and vacation plans.The report contains several sub-readings: The Present Situation Index, which measures consumers' perceptions of current business and labour market conditions, and the Expectations Index, which measures the short-term outlook for income, business, and employment.On the whole, Consumer Confidence is expected to register a mild decline to 96.4 in August after rising to 97.2 in July. In June, the Consumer Confidence Index fell to 95.2. In July, the Present Index Situation dropped to 131.5, while the Expectations Index increased to 74.4.How can the Conference Board's report affect the US Dollar?The US Dollar Index (DXY) sold off on Friday exclusively in response to Federal Reserve (Fed) Chair Powell’s dovish remarks at the Jackson Hole Symposium. Pablo Piovano, Senior Analyst at FXStreet, notes, “If the DXY slips below its multi-year low of 96.37 (July 1), the next major support lines up at 95.13 (February 4) and 94.62 (January 14).”“On the flip side, the first obstacle is the August high at 100.25 (August 1); a decisive break there could clear the way to 100.54 (May 29) and then the May peak at 101.97 (May 12),” Piovano adds.“Momentum indicators are also softening, as the Relative Strength Index (RSI) has eased to nearly 46, suggesting waning bullish momentum, while the Average Directional Index (ADX) is holding near 13, signalling a lack of strong directional trend”, he concludes. Economic Indicator Consumer Confidence The Consumer Confidence index, released on a monthly basis by the Conference Board, is a survey gauging sentiment among consumers in the United States, reflecting prevailing business conditions and likely developments for the months ahead. The report details consumer attitudes, buying intentions, vacation plans and consumer expectations for inflation, labor market, stock prices and interest rates. The data shows a picture of whether or not consumers are willing to spend money, a key factor as consumer spending is a major driver of the US economy. Generally, a high reading is bullish for the US Dollar (USD), while a low reading is bearish. Note: Because of restrictions from the Conference Board, FXStreet Economic Calendar does not provide this indicator's figures. Read more. Last release: Tue Jul 29, 2025 14:00 Frequency: Monthly Actual: - Consensus: - Previous: - Source: Conference Board Tariffs FAQs What are tariffs? Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas. What is the difference between taxes and tariffs? Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers. Are tariffs good or bad? There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs. What is US President Donald Trump’s tariff plan? During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.

13:55 USD/CAD pulls back below 1.3850 ahead of US data, BoC Macklem's speech
The US Dollar has retraced its previous gains against the loonie on Tuesday, retreating to levels right below 1.3850 after being capped at intra-day highs near 1.3870.

13:40 EUR/HUF faces key resistance at 399/400 – Société Générale
EUR/HUF remains under pressure after failing to reclaim the 200-day moving average. A rebound is testing the 399/400 resistance zone, but inability to break higher risks extending the decline toward 389.90 support, Société Générale's FX analysts note.

EUR/HUF remains under pressure after failing to reclaim the 200-day moving average. A rebound is testing the 399/400 resistance zone, but inability to break higher risks extending the decline toward 389.90 support, Société Générale's FX analysts note. Support seen near 389.90 if pullback extends"EUR/HUF established a lower high near 411 in April and gradually settled below the 200-day moving average. It has experienced a steady pullback, recently marking an interim low around 391.70." "While a brief rebound has occurred, attention now turns to the multi-month descending trendline in the 399/400 area. Failure to break above this resistance may lead to a continued pullback. Downside projection near 389.90 could be an important support."

13:39 When is the US Durable Goods Orders data and how it could affect EUR/USD?
The Durable Goods Orders for July is due for release today at 12:30 GMT. Economists expect fresh orders for durable goods have declined again, but at a moderate pace of 4%, compared to a 9.3% contraction seen in June.

13:34 USD/CNH: Chance of dropping below July’s low of 7.1435 – UOB Group
US Dollar (USD) could drop below July’s low of 7.1435, but it might not be able to maintain a foothold below this level.

US Dollar (USD) could drop below July’s low of 7.1435, but it might not be able to maintain a foothold below this level. In the longer run, rapidly increasing downward momentum indicates USD could drop below 7.1435; it is unclear now if 7.1290 is within reach, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. Rapidly increasing downward momentum 24-HOUR VIEW: "While we indicated yesterday that 'there is scope for USD to drop further,' we were of the view that 'any decline is likely part of a lower range of 7.1630/7.1830.' However, USD broke below 7.1630 and dropped sharply to a low of 7.1492. USD rebounded from the low to close at 7.1578, down by 0.20%. While conditions are oversold, USD could drop below July’s low of 7.1435 today. However, given the oversold conditions, USD might not be able to maintain a foothold below this level. To keep the momentum, USD must hold below 7.1710, with minor resistance at 7.1630." 1-3 WEEKS VIEW: "We turned slightly negative on USD yesterday (25 Aug, spot at 7.1740). We indicated that it 'may edge lower, but any decline is unlikely to break clearly below 7.1600.' However, USD easily broke below 7.1600 and dropped to a low of 7.1492. The rapidly increasing downward momentum indicates USD could drop below July’s low of 7.1435. Currently, it is unclear if the next support at 7.1290 is within reach. Overall, we will maintain our negative view as long as 7.1800 (‘strong resistance’ level was at 7.1860 yesterday) is not breached."

13:29 AUD/USD holds range as RBA minutes signal more easing – BBH
AUD/USD dipped slightly but remains within its multi-month 0.6400-0.6600 range, BBH FX analysts report, BBH FX analysts report.

AUD/USD dipped slightly but remains within its multi-month 0.6400-0.6600 range, BBH FX analysts report, BBH FX analysts report. RBA minutes highlight path of gradual cuts"The RBA minutes of the August 12 policy meeting suggests more easing is in the pipeline. At that meeting, the RBA delivered on expectations and cut the policy rate 25bps to 3.60%. The decision was unanimous. The minutes stressed that 'some further reduction in the cash rate over the coming year' appeared likely and flagged that the pace of decline in the cash rate will largely be driven by labor market conditions.""According to the minutes, a slightly faster reduction in the cash rate over the coming year would be appropriate if the labor market turned out already to be in balance. In contrast, a gradual easing pace may be warranted if labor market conditions remained a little tight relative to full employment." "Australia’s July labor force report showed solid full-time job gains and argues for a gradual easing path, underpinning AUD. The next jobs print is due September 18 and will be a key driver of RBA rate expectations. Cash rate futures currently imply 55bps of easing in the next 12 months."

13:23 Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Tuesday, according to FXStreet data.

13:23 USD/JPY expected to trade in a range between 146.70 and 148.00 – UOB Group
US Dollar (USD) is expected to trade in a range between 146.70 and 148.00. In the longer run, outlook is mixed; USD could trade in a range between 146.40 and 148.40, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

US Dollar (USD) is expected to trade in a range between 146.70 and 148.00. In the longer run, outlook is mixed; USD could trade in a range between 146.40 and 148.40, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. Outlook for USD/JPY is mixed24-HOUR VIEW: "USD plunged to a low of 146.54 last Friday and then rebounded. Yesterday, when it was at 147.35, we pointed out that 'the rebound from oversold conditions indicates that instead of continuing to decline, USD is more likely to trade in a range between 146.80 and 147.85.' USD then traded in a wider range than expected (146.69/147.93), closing at 147.77, up by 0.57%. The price action still appears to be part of a range-trading phase. Today, we expect USD to trade between 146.70 and 148.00." 1-3 WEEKS VIEW: "Our update from yesterday (25 Aug, spot at 147.35) remains valid. As highlighted, 'The recent sharp price swings, which failed to result in a sustained directional move, have led to a mixed outlook for USD. For the time being, USD could trade in a range between 146.40 and 148.40'."

13:18 Political interference risks undermine USD outlook – BBH
USD and 10-year Treasuries weakened after President Donald Trump said he was firing 'for cause' Fed Governor Lisa Cook effective immediately, BBH FX analysts report.

USD and 10-year Treasuries weakened after President Donald Trump said he was firing 'for cause' Fed Governor Lisa Cook effective immediately, BBH FX analysts report. Cook rejects Trump’s dismissal order, vows to stay"Cook responded that Trump has no authority to fire her, and she won’t quit. The USD pullback proved short-lived, with the greenback a little firmer versus most major currencies, as Trump’s effort to remove Cook was already in motion since mid-August, BBH FX analysts report." "Regardless, political interference with the Fed’s independence spell trouble for the dollar. Cook's exit from the Fed ultimately gives Trump greater opportunity to tighten his grip on the central bank by appointing a replacement aligned with his dovish monetary policy agenda.""A handful of second-tier US economic data are due today*: August Philadelphia Fed non-manufacturing activity; July durable and capital goods orders; June FHFA house price index; June S&P CoreLogic 20-city and US HPI; August Richmond Fed manufacturing index and business conditions; August Conference Board consumer confidence; August Dallas Fed services activity. We also get a fresh update of the Atlanta Fed GDPNow model later today. As of August 19, the model estimates Q3 annualized growth at 2.3%, down from 2.5% on August 15."

12:58 NZD/USD: Likely to trade between 0.5830 and 0.5875 – UOB Group
The current price movements are likely part of a range-trading phase between 0.5830 and 0.5875.

The current price movements are likely part of a range-trading phase between 0.5830 and 0.5875. In the longer run, New Zealand Dollar (NZD) appears to have entered a range-trading phase; for the time being, it is likely to trade between 0.5820 and 0.5920, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. NZD appears to have entered a range-trading phase24-HOUR VIEW: "NZD soared to a high of 0.5876 last Friday. Yesterday, we highlighted the following: 'The rapid rise has scope to test 0.5885 before levelling off becomes likely. The major resistance at 0.5920 is not expected to come into view.' Our expectations did not materialise, as NZD traded between 0.5847 and 0.5877, closing at 0.5849 (-0.32%). The current price movements appear to be part of a range-trading phase, most likely between 0.5830 and 0.5875." 1-3 WEEKS VIEW: "Not much has changed since our update yesterday (25 Aug, spot at 0.5865). As highlighted, NZD appears to have entered a range-trading phase, and for the time being, it is likely to trade between 0.5820 and 0.5920."

12:52 Gold eases from $3,385 highs as Fed’s Cook refuses to resign
Gold‘s rally from Monday’s lows at $3,350 has been capped on Tuesday after hitting fresh two-week highs at $3,385. The Precious metal has stalled below $3,380, as the US Dollar regains lost ground, following Fed Governour Lisa Cook’s rejection of President Trump’s calls to fire her.

12:51 EUR: French political uncertainty is on the rise acting as a dampener on Euro – MUFG
One of the main developments at the start of this week has been the announcement from French Prime Minister Francois Bayrou that he has agreed with President Emmanuel Macron to call parliament back into session early in order to allow the government to present its budget plan and hold a confidence m

One of the main developments at the start of this week has been the announcement from French Prime Minister Francois Bayrou that he has agreed with President Emmanuel Macron to call parliament back into session early in order to allow the government to present its budget plan and hold a confidence motion. Prime Minister Francois Bayrou noted that 'yes it’s a risk, but the supreme risk is doing nothing…there’s no getting out of this situation if we are not brave', MUFG's FX analyst Lee Hardman reports. French political uncertainty may not be sufficient to lower EUR/USD"The government is facing pushback against their plans for EUR44 billion of spending cuts and tax rises including abolishing two of France’s public holidays. The far-left France Unbowed party, the Green party and the far-right National Rally have all said they will vote to overturn the government while the Socialist party have said they won’t support a vote of confidence. According to Bloomberg, should the parties that have announced their opposition to supporting a confidence motion follow through with votes against it on 8th September that would be sufficient for force Prime Minister Bayrou to submit his government’s resignation.""The unfavourable domestic political developments could put a dampener on investor sentiment towards the euro in the near-term. The negative impact is already more evident in the French government bond market where the 10-year yield spread for French over German government bonds has re-widened back towards 80bps after trading closer to 65bps in early August. Over the last year the spread peaked out just below 90bps during the previous Budget negotiations in November." "The euro also weakened during this period falling below 1.0500 although the main driver at the time was the initial fallout from the US Presidential victory for Donald Trump that encouraged a stronger US dollar. On this occasion we are not convinced French political uncertainty will be sufficient on its own to lower EUR/USD if the US dollar is weakening in response to Fed policy easing and the threat to the Fed’s independence."

12:40 AUD/USD: Likely to trade in a range of 0.6455/0.6505 – UOB Group
Australian Dollar (AUD) is likely to trade in a range of 0.6455/0.6505. In the longer run, slight increase in upward momentum is likely to lead to a higher range of 0.6440/0.6540 rather than a sustained advance, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Australian Dollar (AUD) is likely to trade in a range of 0.6455/0.6505. In the longer run, slight increase in upward momentum is likely to lead to a higher range of 0.6440/0.6540 rather than a sustained advance, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. Slight increase in upward momentum24-HOUR VIEW: "Last Friday, AUD soared to a high of 0.6501. Yesterday, Monday, when AUD was at 0.6485, we indicated that 'the sharp rise appears to be excessive, and instead of continuing to rise today, AUD is more likely to trade in a range of 0.6460/0.6510.' AUD then traded between 0.6472 and 0.6523, a higher range than expected. AUD closed modestly lower at 0.6482, down by 0.14%. Further range trading appears likely today, but the softer underlying tone suggests a lower range of 0.6455/0.6505." 1-3 WEEKS VIEW: "We continue to hold the same view as yesterday (25 Aug, spot at 0.6485). As highlighted, after last Friday’s price movements, 'there has been an increase in upward momentum, but not significantly, and this is likely to lead to a higher range of 0.6440/0.6540 rather than a sustained advance'."

12:34 USD whips on data but wilts on Trump – DBS
The DXY Index climbed 0.7% to 98.4 overnight, primarily on profit-taking sparked by better-than-expected US new home sales (NHS).

The DXY Index climbed 0.7% to 98.4 overnight, primarily on profit-taking sparked by better-than-expected US new home sales (NHS). Earlier, the index consolidated in a narrow 97.8-98.0 range throughout the Asian and European sessions, digesting last Friday’s 0.9% sell-off to 97.7 following Fed Chair Jerome Powell’s signal for a September rate cut. We caution against reading too much into July’s NHS surprise. On a 12-month rolling sum basis, sales contracted for a fifth consecutive month, highlighting weak underlying demand underscored by mounting inventories, DBS' FX analyst Philip Wee reports. US data drives volatility, Trump pressures Fed"Dallas Fed President Lorie Logan flagged potential money market strains at the end of 3Q25, another reason keeping the September rate cut in play. However, Logan noted that the Fed had the tools to manage the temporary stress. Logan hinted that the easing may extend beyond September by urging investors to look beyond the dot plot toward the diversity of views in next month’s Summary of Economic Projections. Attention will likely turn to the Fed’s median estimate of the neutral rate, which increased in June to 3% from a pre-pandemic 2.5%, still below the current 4.25-4.50% Fed Funds Rate." "Given the market’s sensitivity to incoming US data, the DXY could easily flip lower on disappointing US consumer sentiment today. Consensus expects the US Conference Board’s consumer confidence index to ease slightly to 96.5 in August from 97.2 in July, which does not align with the shockingly weak nonfarm payrolls. August payrolls are expected to stay below 100k for a fourth straight month next week. As noted in the previous report, tariffs should remain a top concern for consumers, driving prices higher. However, this Friday’s PCE release is expected to slow headline inflation slowing to 0.2% MoM in July from 0.3% in June, while core holds steady at 0.3%." "All said, one thing has not changed our negative view on the USD. The DXY fell 0.2% this morning on US President Donald Trump’s announcement to remove Fed Governor Lisa Cook, underscoring his determination to reshape the board and keep Powell’s feet to the fire in delivering rate cuts."

12:15 GBP/USD: Likely to trade in a range between 1.3440 and 1.3520 – UOB Group
Pound Sterling (GBP) is likely to trade in a range between 1.3440 and 1.3520. In the longer run, further GBP strength is not ruled out, but it is unclear if there is enough momentum for it to reach 1.3595, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Pound Sterling (GBP) is likely to trade in a range between 1.3440 and 1.3520. In the longer run, further GBP strength is not ruled out, but it is unclear if there is enough momentum for it to reach 1.3595, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. Further GBP strength is not ruled out24-HOUR VIEW: "GBP rose sharply to a high of 1.3544 last Friday. Yesterday, Monday, when GBP was at 1.3515, we pointed out that 'deeply overbought conditions suggest GBP is unlikely to rise much further.' We expected GBP to 'trade in a range of 1.3465/1.3545.' While GBP did not rise further, it did not trade in a range either, as it dropped sharply to a low of 1.3447. Despite the sharp decline, there has been no clear increase in downward momentum, and instead of continuing to weaken, GBP is more likely to trade in a range today, probably between 1.3440 and 1.3520." 1-3 WEEKS VIEW: "Following the sharp rise in GBP last Friday, we indicated yesterday (25 Aug, spot at 1.3515) that 'while further GBP strength is not ruled out, it is currently unclear if there is enough momentum for it to reach 1.3595.' We also indicated that 'if GBP breaks below 1.3425, it would mean that it is likely to trade within a range instead of strengthening.' Although upward momentum is slowing after GBP pulled back to a low of 1.3447, we continue to hold the same view for now."

12:11 EUR/USD: Likely to trade in a range of 1.1600/1.1690 – UOB Group
Euro (EUR) is likely to trade in a range of 1.1600/1.1690. In the longer run, EUR is expected to trade in a range between 1.1580 and 1.1745, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Euro (EUR) is likely to trade in a range of 1.1600/1.1690. In the longer run, EUR is expected to trade in a range between 1.1580 and 1.1745, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. EUR is expected to trade in a range between24-HOUR VIEW: "Yesterday, we noted that the sharp rally from last Friday 'appears to be overstretched.' We indicated that 'instead of continuing to rise, EUR is more likely to consolidate between 1.1665 and 1.1745.' The subsequent price action did not turn out as we expected, as instead of consolidating, EUR pulled back sharply to a low of 1.1601. EUR closed at 1.1618, down sharply by 0.83%. The sharp decline appears to be running ahead of itself, and EUR is unlikely to weaken much further. Today, we expect EUR to trade in a range of 1.1600/1.1690." 1-3 WEEKS VIEW: "Although EUR soared last Friday, we highlighted yesterday (25 Aug, spot at 1.1715) that 'the increase in upward momentum is not enough to indicate a sustained rise.' We added, 'for EUR to continue to rise, it must first close above 1.1745.' That said, we did not expect EUR to pull back sharply and break below our ‘strong support’ level at 1.1630 (low of 1.1601). The breach of our ‘strong support’ level indicates that the buildup in upward momentum has fizzled out. From here, we expect EUR to trade in a range, probably between 1.1580 and 1.1745."

12:06 JPY: Still hoping for wages – Commerzbank
The Bank of Japan remains convinced that rising wage growth will lead to sustainably higher inflation. Meanwhile, lower inflation regarding food prices is pushing down the overall rate. Excluding energy and food, inflation has been below 2% for some time now.

The Bank of Japan remains convinced that rising wage growth will lead to sustainably higher inflation. Meanwhile, lower inflation regarding food prices is pushing down the overall rate. Excluding energy and food, inflation has been below 2% for some time now. The BoJ will therefore continue to proceed with caution when it comes to raising key interest rates. The JPY is therefore likely to remain stable against the US dollar and weak against the euro, Commerzbank's FX analyst Volkmar Baur notes. BoJ to remain cautious"The Japanese economy grew faster than expected in the second quarter, and the first quarter was also revised slightly upward. This development supports the assessment of the Bank of Japan, which had already raised its GDP growth forecasts slightly in its July meeting compared to its April forecast. However, there are still risks that US tariff policy could have a negative impact on the Japanese economy and that of its important trading partners. However, the Bank of Japan remains confident that domestic momentum in particular will be strong enough to keep inflation at 2% in the coming years, even after the one-off effects on food prices have passed. According to this view, wage growth in the coming years should fuel domestic demand to such an extent that price pressure driven by demand remains high enough to meet the central bank's target.""Governor Ueda said in his speech at the Fed symposium in Jackson Hole that demographic trends and the increased willingness to change jobs are contributing to higher wage growth. In addition, the participation rate among women and seniors has now risen to such an extent that they will no longer dampen wage growth as they did in previous years. Furthermore, he does not believe that artificial intelligence is yet at a stage where it will weigh on the Japanese labor market in the near future. And at least for the moment, this seems to be working well in terms of nominal wage growth. Over the past 12 months, wages rose by around 3% year-on-year, significantly faster than in the four years before the pandemic, when the average rate of increase was only 0.7%. However, inflation has also been significantly higher in recent years.""The Bank of Japan has stated that it intends to raise key interest rates if the economy develops as forecast. In recent months, however, it has sounded rather cautious about the possible timing of a further interest rate hike. We continue to expect another interest rate hike by the Bank of Japan around the turn of the year, either in December (19 December) or January (23 January). However, this move is already fully priced into the market, at least for January. We therefore continue to expect a weaker yen, but one that will remain roughly at today's level against the US dollar. Against the euro, however, this will result in continued weakness."

12:05 EUR/JPY price forecast: Falls to near 171.50 as bearish bias emerges
EUR/JPY extends its losses for the second successive session, trading around 171.50 during the European hours on Tuesday. The technical analysis of the daily chart suggests the emergence of a bearish market bias as the currency cross is remaining slightly below the ascending channel pattern.

11:59 China’s growing exports: Not just transshipment – Standard Chartered
China’s y/y export growth accelerated during H1 despite a sharp decline in exports to US. Phones and laptops comprised an outsized share of China’s declining exports to the US.

China’s y/y export growth accelerated during H1 despite a sharp decline in exports to US. Phones and laptops comprised an outsized share of China’s declining exports to the US. China appears to be exporting these goods to alternative markets, not just transshipment hubs, Standard Chartered's Research Analyst Ethan Lester reports. Diversification pays off"China’s export partners have diversified in recent years, helping to offset the blow from higher US tariffs. The US share of China’s 6M-2025 exports declined 2.5ppt y/y, but China’s overall exports increased, even after adjusting for reporting discrepancies with US authorities.""We see China’s export growth boost fading following significant tariff-related front-loading, amid protectionist rhetoric from EU officials regarding dumping, and US threats of higher tariffs on economies facilitating transshipment. However, China’s ongoing export diversification should provide a robust floor for exports despite headwinds from protectionism, building on over a decade of significant investment abroad in global south economies.""For example, exports of smartphones and laptops – which accounted for roughly one-third of the c.11% y/y decline in China’s exports to the US during H1-2025 – have grown significantly across Latam, SSA, Europe, and EM Asia. US imports of smartphones and laptops are not widely increasing from the same destinations as China’s exports; this is despite the incentive for transshipment of China’s electronic goods amid the ongoing US national security investigation into semiconductors and their downstream uses. China’s increased exports of intermediate goods since the previous trade war also suggests a genuine reorientation of supply chains rather than merely export rerouting."

11:54 USD: Tightrope walk for the dollar – Commerzbank
The coming weeks, and probably even months, are likely to be a tightrope walk for the dollar against the backdrop of the Fed's adjusted stance.

The coming weeks, and probably even months, are likely to be a tightrope walk for the dollar against the backdrop of the Fed's adjusted stance. Our economists had been expecting interest rate cuts in September and December for some time, precisely because they anticipated that the FOMC and Fed Chair Jerome Powell would attempt to ease political pressure to a certain extent by lowering interest rates moderately. In this respect, our experts are not particularly surprised by Powell's change of tone at the Jackson Hole conference, Commerzbank's FX analyst Antje Praefcke notes. Times might remain difficult and volatile for the dollar"Powell obviously had to present valid arguments for possible interest rate cuts. And since the upside risks to inflation from US tariffs are definitely present, but it will only become clear in a few months whether the effect will really be temporary as expected, he had to focus more on the downside risks to the economy and the labor market. Therefore, the risks for the dollar will remain asymmetrically distributed. If the economy and labor market remain robust and the tariff effect on inflation is temporary, there may be fewer interest rate cuts than the market expects. In this case, an upward correction in the dollar, as we saw last week, would be entirely possible. However, the downside risks for the dollar dominate. Weaker economic data would cement or even reinforce expectations of interest rate cuts, for instance in the direction of one or more 50 basis point moves. This would weigh on the dollar.""If, on the other hand, economic data remains relatively solid, but inflation and, above all, inflation expectations pick up, while the Fed continues to sound dovish, the Fed's response function of reacting 'appropriately' to inflation risks could be called into question. This, in turn, would also be viewed negatively by the market for the dollar. After all, a central bank should respond appropriately to inflation risks with its monetary policy, otherwise the currency will be punished. An impressive example of this is the Turkish lira.""As difficult as it is for Powell to navigate between 'correct' monetary policy requirements and political demands, times will remain difficult and volatile for the dollar. In particular, most developments are likely to be interpreted negatively. I cannot currently think of a scenario in which the dollar suddenly appreciates massively and regains its 'old strength' (also because of structural factors – think of the discussion about the independence of the Fed, which has gained momentum again with the affair surrounding Governor Lisa Cook, or the fiscal position of the US, which will deteriorate with Trump's plans). But then again, no one could have imagined a pandemic either."

11:43 GBP/JPY Price Forecast: Giving signs of topping below 200.00
The British Pound is showing signs of topping after having reached one-year highs, right above the 200.00 round level against the Japanese Yen.

11:41 USD: Focus on Cook's removal – ING
The US Dollar (USD) briefly sold off 0.6% in Asia after news broke that US President Donald Trump was dismissing Lisa Cook, a member of the Federal Reserve's governing board. This follows allegations of mortgage application irregularity.

The US Dollar (USD) briefly sold off 0.6% in Asia after news broke that US President Donald Trump was dismissing Lisa Cook, a member of the Federal Reserve's governing board. This follows allegations of mortgage application irregularity. The move by the Department of Justice yesterday to open an investigation into the issue was seen by the President as providing sufficient 'cause' for him to make the move. Cook rejects his authority for the removal, and the case will likely end up in court, leaving the question of whether she retains her post during the appeal or whether the Fed Governing Board and the rate-setting FOMC will be one member down until the court case is resolved, ING's FX analyst Chris Turner notes.DXY can continue bouncing around in a 97.50-98.50 range"After the resignation of Adriana Kugler and the appointment of Stephen Miran, the influential governing board is starting to lean towards Trump's way. Investors will naturally start to increasingly question the independence of the Fed, which would result in a steeper yield curve and a weaker dollar. The US 2-30 year yield curve broke to a new cyclical high overnight at 122bp and is back to levels seen before the Russian invasion of Ukraine in 2022. The question will be whether this pressure on the Fed triggers an outright sell-off in the long-end of the bond market. On that subject, this week sees the US Treasury auction $144bn of two, five and seven-year Treasury notes, where presumably Thursday's seven-year issue will be the most challenging.""Overnight developments stand in contrast to the benign bullish steepening of the yield curve triggered by Powell's dovish speech at Jackson Hole on Friday. Equity investors will no doubt keep track of the long end of the Treasury market this week, where a sell-off could pressure global equities after a good run in August. Pressure on the Fed is a dollar negative, but if Treasuries and equities start to come off, it will be the likes of the Japanese yen and Swiss franc which outperform, not the euro. And the euro has some new baggage.""Away from politics, the US data calendar this week sees US consumer confidence today, a revision to second-quarter GDP on Thursday and core PCE inflation on Friday. We'll also hear an important speech on monetary policy from the Fed's Christopher Waller on Thursday. He voted for a rate cut in July and is seen as one of the front-runners to replace Powell as Fed Chair next May. Let's see if he's turned even more dovish, given recent US employment data. It looks like it could be a choppy week in FX. The softer euro is making the DXY look bid. We suspect DXY can continue to bounce around in a 97.50-98.50 range for a while. USD/JPY looks toppy in the 148.00/148.50 area, and we retain a forecast of 145 for the end of September."

11:38 DXY: Consumer confidence, durable goods today – OCBC
US Dollar (USD) fell this morning, in knee-jerk reaction to headline that Trump removed Fed Governor Lisa Cook from her position. DXY last at 98.43 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

US Dollar (USD) fell this morning, in knee-jerk reaction to headline that Trump removed Fed Governor Lisa Cook from her position. DXY last at 98.43 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.2-way trades likely in the interim"As a governor, her full term is supposedly 14 years and is expected to end in Jan 2038. Decline in USD reflects concerns over Fed independence and potentially, how the make-up of the Fed may be more dovish leaning going forward. This can skew the votes for cut and ultimately weigh on USD." "But for USD to come off more significantly may require the blessing of softer US data print this week - durable goods report, conf board consumer confidence on Tue, GDP on Thu and core PCE on Friday. There are also a few Fedspeaks including Barkin and Waller on Tue and Fri, respectively. We will be keeping a lookout on whether data or Fedspeaks changes the narrative from 25bp cut expectation to discussion of 50bp cut at Sep FOMC or whether the trajectory of cut this year increases." "Softer US data or dovish tilt rhetoric in Fedspeaks should continue to weigh on USD. Mild bearish momentum on daily chart faded while RSI was flat. 2-way trades likely in the interim. Resistance at 98.50 (21 DMA), 98.90 (100 DMA), 99.60 levels. Support at 97.60 levels."

11:32 Silver Price Forecast: XAG/USD rises to near $38.80 as Fed Cook’s removal dampens market mood
Silver price (XAG/USD) recovers its early losses and trades 0.33% higher to near $38.80 during the European trading session on Tuesday.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}Silver price attracts slight bids as the ousting of Fed Governor Cook has increased safe-haven demand.Trump accused Fed’s Cook for providing false statements in one or more mortgage agreements.The Fed is expected to cut interest rates in the September meeting.Silver price (XAG/USD) recovers its early losses and trades 0.33% higher to near $38.80 during the European trading session on Tuesday. The white metal gains as the market sentiment turns slightly risk-averse, following the removal of Federal Reserve (Fed) Governor Lisa Cook by United States (US) President Doanld Trump over mortgage allegations.S&P 500 futures are down 0.15% during European trading hours. US equities have declined further after a weak session on Monday, indicating a cautious market mood. The demand for safe-haven assets, such as Silver, increases in a risk-off market environment.US President Trump announced Fed Cook’s removal by posting her termination letter on Truth.Social in which he stated that Cook has been removed from her designation, with immediate effect, for making false statements on one or more mortgage agreements.However, Cook said that she will continue to carry out her duties as Fed Governor. In a statement shared by her attorneys, “President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so.”The event has been seen as a major threat to Fed’s independence, which has undermined the credibility of the US administration.Broadly, firm expectations that the Fed will cut interest rates in the September policy meeting are continued to support the Silver price. Lower interest rates by the Fed bode well for non-yielding assets, such as Silver.Silver technical analysisSilver price trades slightly higher around $38.80 on Tuesday. The near-term trend of the white metal remains bullish as it holds above the 20-day Exponential Moving Average (EMA), which trades around $38.10.The 14-day Relative Strength Index (RSI) oscillates inside the 40.00-60.00 range, indicating indecisiveness among market participants.Looking down, the June 24 low of $35.28 will act as key support for the major. On the upside, the July 23 high near $39.53 will be a critical hurdle for the pair.Silver daily chart
Silver FAQs Why do people invest in Silver? Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets. Which factors influence Silver prices? Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices. How does industrial demand affect Silver prices? Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices. How do Silver prices react to Gold’s moves? Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.

11:30 GBP: Hawkish BoE and French politics to weigh on EUR/GBP – ING
EUR/GBP looks to stay offered this week as French politics prompts some reassessment of long euro exposure, ING's FX analyst Chris Turner notes.

EUR/GBP looks to stay offered this week as French politics prompts some reassessment of long euro exposure, ING's FX analyst Chris Turner notes.EUR/GBP might be pressing support at 0.8600 shortly"This comes at a time when a credibly hawkish Bank of England is already providing sterling with some support. Following this month's hawkish turn by the BoE, the market struggles to price one 25bp cut this year (just 12bp currently priced) and barely two cuts by next summer.""There doesn't look too much on the agenda to knock the BoE's hawkish agenda this week, which suggests EUR/GBP will be pressing support at 0.8600 shortly."

11:29 US Dollar Index steadies near 98.50 as yields, Fed concerns drive focus
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is steadying after recovering daily losses and trading around 98.40 during the European hours on Tuesday.

11:26 EUR/USD: French political risk weighs – OCBC
Euro (EUR) fell overnight. French PM Bayrou said he would call for a confidence vote on budget on 8 September in an effort to force political parties to take a position on the government’s budget proposals in parliament rather than through street protests planned for later that week.

Euro (EUR) fell overnight. French PM Bayrou said he would call for a confidence vote on budget on 8 September in an effort to force political parties to take a position on the government’s budget proposals in parliament rather than through street protests planned for later that week. EUR was last at 1.1610 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.Indicators are not showing a clear bias"President Macron has allowed for parliament to return into session earlier in order to allow the government to present its plan and to hold the confidence motion. Last year, a no-confidence motion (although not on budget) saw the exit of former PM Barnier. This is one risk to watch for implication on EUR." "Daily momentum and RSI indicators are not showing a clear bias. 2-way trades still likely. Support at 1.1570 levels. Resistance at 1.1730, 1.18 levels."

11:24 EUR: French government looks likely to fall in September – ING
Hitting EUR/USD late on Monday was the surprise announcement from French Prime Minister François Bayrou that he was calling a vote of confidence in his government's fiscal austerity plans on 8 September.

Hitting EUR/USD late on Monday was the surprise announcement from French Prime Minister François Bayrou that he was calling a vote of confidence in his government's fiscal austerity plans on 8 September. The numbers don't look good in that his centrist party has 210 seats in parliament, while the far left and the far right have a combined 330 seats and have already said they will vote no.A break below 1.1580/90 may lead to the 1.1500/1520 area"French government bonds had already been underperforming in an otherwise benign environment for European government debt this summer. The broader question for the euro is whether recent French news destabilises appetite for the euro more broadly, or whether this is an isolated French issue." "Given the 'push' factors away from the dollar at the moment (pressure on the Fed and the macro justification to cut rates), we're not ready to go all out bearish on EUR/USD over this. But cross rates like EUR/JPY and EUR/CHF can start to come under some pressure as the FX regime shifts away from the low-volatility, benign conditions seen through August.""Perhaps the largest threat to the euro at present is positioning. Futures data shows both the asset management and leveraged fund communities running large net long positions. Expect a pick up in protective EUR/USD downside positions in the FX options market. A break of support at 1.1580/90 could see follow-through to the 1.1500/1520 area – especially since investors probably added to EUR/USD longs on Friday's dovish tilt from Powell."

11:20 Pound Sterling edges lower against US Dollar despite Trump announces removal of Fed’s Cook
The Pound Sterling (GBP) ticks down to near 1.3440 against the US Dollar (USD) during the European trading session on Tuesday.

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The GBP/USD pair faces slight selling pressure as the US Dollar edges higher, even as the ousting of Federal Reserve (Fed) Governor Lisa Cook by United States (US) President Donald Trump has increased concerns over the central bank’s independence.On early Tuesday, US President Trump shared a letter on Truth.Social in which he announced the removal of Fed Governor Cook, citing that she made false statements on one or more mortgage agreements.Market experts have seen Fed Cook’s removal by US President Trump as a serious dent in the central bank’s independence. They have also argued that the intention behind Cook’s removal is to fit people in the Federal Open Market Committee (FOMC) to support Trump's economic agenda."The concern is the intent of the Trump administration: it’s not to preserve Fed integrity, it’s to install Trump’s own people at the Fed,” analysts at Capital.com said, Reuters reported.However, Cook said that she will continue to carry out her duties as Fed Governor. In a statement shared by her attorneys, “President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so.”In the past, President Trump has also attacked the Fed’s independence several times by threatening Chair Jerome Powell for not lowering interest rates. However, Trump praised Powell after his speech at the Jackson Hole Symposium on Friday, in which he surprisingly delivered a dovish interest rate guidance, citing labor market concerns.Daily digest market movers: Pound Sterling trades calmly ahead of BoE Mann’s speechThe Pound Sterling trades broadly stable ahead of Bank of England (BoE) Monetary Policy Committee (MPC) member Catherine Mann’s speech at 16:00 GMT. Investors will pay close attention to BoE Mann’s speech to get cues about whether the United Kingdom (UK) central bank will cut interest rates again in the remainder of the year.Financial market participants doubt whether the BoE to ease monetary policy further as inflationary pressures are turning out to be persistent. Inflation in the UK economy has been accelerating at a faster pace in recent months.Investors should note that BoE’s Mann was one of the MPC members who voted for holding interest rates in the monetary policy meeting earlier this month. In the meeting, the BoE reduced its key borrowing rates by 25 basis points (bps) to 4%, with a slim majority.In the US, investors await the Personal Consumption Expenditures Price Index (PCE) data for July, which is scheduled to be released on Friday. The inflation data will influence market expectations for the Fed’s monetary policy outlook.According to the CME FedWatch tool, there is an 84% chance that the Fed will cut interest rates in the September monetary policy meeting.Fed dovish expectations intensified earlier this month after the Nonfarm Payrolls (NFP) report for July showed downward revisions in May and June.Technical Analysis: Pound Sterling falls to near 1.3440The Pound Sterling drops to near 1.3440 against the US Dollar on Tuesday. The near-term outlook of the GBP/USD pair is uncertain as it wobbles near the 20-day Exponential Moving Average (EMA), which trades around 1.3460.The 14-day Relative Strength Index (RSI) oscillates inside the 40.00-60.00 range, suggesting a sharp volatility contraction.Looking down, the August 11 low of 1.3400 will act as a key support zone. On the upside, the July 1 high near 1.3790 will act as a key barrier. Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

11:14 USD/JPY consolidates near 147.90 as Fed’s Cook vows to stay
The US Dollar is regaining lost ground across the board amid a new twist in the Federal Reserve saga, as Governour Lisa Cook dismissed Trump’s call to resign and committed to carry on with her duties at the Central Bank.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The US Dollar bounces up from lows as Fed Governor Cook refuses Trump's order to resign.Trump's attempt to fire Cook eroded confidence in the central bank and hit the US Dollar on Monday's late trading.The Greenback is picking up after Friday's sell-off, following Powell's hints at lower interest rates.The US Dollar is regaining lost ground across the board amid a new twist in the Federal Reserve saga, as Governour Lisa Cook dismissed Trump’s call to resign and committed to carry on with her duties at the Central Bank.The US Dollar has bounced up from lows right above 147.00 on Tuesday’s early trading and is now consolidating within a tight range around 147.80, with Monday’s highs at 147.93 holding bulls for now.

US President Trump shocked investors on Monday, announcing an order to fire Cook in an unprecedented move, of unclear legal backing. The US Dollar reacted with losses amid investors’ concerns about the Fed’s credibility, but is picking up again after Cook committed to remaining in her duties.Fed easing hopes are weighing on the USDThe pair depreciated more than 1% on Friday following a dovish speech by Federal Reserve Chairman Jerome Powell, who sounded more open to cutting interest rates in the coming months, citing the downside risks threatening the labour market.

At the same time, BoJ Governor Ueda warned about the inflationary impact of growing wages, suggesting that the conditions are set for a further rate hike. Later this week, the Tokyo CPI figures are likely to shed some more light on this topic.

In this context, the focus is on Friday’s PCE Prices Index, the Fed’s inflation gauge of choice. The market would celebrate moderate inflation figures that would practically confirm a rate cut after the September meeting. Such an outcome might accentuate the BoJ-Fed monetary policy divergence to the detriment of the US Dollar. Central banks FAQs What does a central bank do? Central Banks have a key mandate which is making sure that there is price stability in a country or region. Economies are constantly facing inflation or deflation when prices for certain goods and services are fluctuating. Constant rising prices for the same goods means inflation, constant lowered prices for the same goods means deflation. It is the task of the central bank to keep the demand in line by tweaking its policy rate. For the biggest central banks like the US Federal Reserve (Fed), the European Central Bank (ECB) or the Bank of England (BoE), the mandate is to keep inflation close to 2%. What does a central bank do when inflation undershoots or overshoots its projected target? A central bank has one important tool at its disposal to get inflation higher or lower, and that is by tweaking its benchmark policy rate, commonly known as interest rate. On pre-communicated moments, the central bank will issue a statement with its policy rate and provide additional reasoning on why it is either remaining or changing (cutting or hiking) it. Local banks will adjust their savings and lending rates accordingly, which in turn will make it either harder or easier for people to earn on their savings or for companies to take out loans and make investments in their businesses. When the central bank hikes interest rates substantially, this is called monetary tightening. When it is cutting its benchmark rate, it is called monetary easing. Who decides on monetary policy and interest rates? A central bank is often politically independent. Members of the central bank policy board are passing through a series of panels and hearings before being appointed to a policy board seat. Each member in that board often has a certain conviction on how the central bank should control inflation and the subsequent monetary policy. Members that want a very loose monetary policy, with low rates and cheap lending, to boost the economy substantially while being content to see inflation slightly above 2%, are called ‘doves’. Members that rather want to see higher rates to reward savings and want to keep a lit on inflation at all time are called ‘hawks’ and will not rest until inflation is at or just below 2%. Is there a president or head of a central bank? Normally, there is a chairman or president who leads each meeting, needs to create a consensus between the hawks or doves and has his or her final say when it would come down to a vote split to avoid a 50-50 tie on whether the current policy should be adjusted. The chairman will deliver speeches which often can be followed live, where the current monetary stance and outlook is being communicated. A central bank will try to push forward its monetary policy without triggering violent swings in rates, equities, or its currency. All members of the central bank will channel their stance toward the markets in advance of a policy meeting event. A few days before a policy meeting takes place until the new policy has been communicated, members are forbidden to talk publicly. This is called the blackout period.

10:58 Dow Jones futures fall as traders adopt caution due to Fed independence concerns
Dow Jones futures fall by 28% to trade around 45,200 during European hours on Tuesday, ahead of the opening of the United States (US) regular markets. Moreover, the S&P 500 futures decline by 0.26% to trade below 6,450, and the Nasdaq 100 futures fall by 0.30%, trading around 23,400.

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Moreover, the S&P 500 futures decline by 0.26% to trade below 6,450, and the Nasdaq 100 futures fall by 0.30%, trading around 23,400.US stock futures decline as market sentiment turns cautious amid rising concerns over Federal Reserve (Fed) independence after US President Donald Trump announced to remove Fed Governor Lisa Cook over alleged mortgage fraud. President Trump posted a letter on social media early Tuesday, saying that he was removing Fed Governor Cook from her position on the Fed's board of directors. However, Cook said that she will not resign as there is no cause exists for her to be fired. I will continue to carry out duties, she added.The dismissal of the Fed Governor Lisa Cook may increase the chances of earlier interest rate cuts, given Trump’s ongoing pressure on the central bank to reduce borrowing costs. Additionally, Fed Chair Jerome Powell said at the Jackson Hole symposium last week that risks to the job market were rising, but also noted inflation remained a threat and that a decision wasn't set in stone.Traders also adopt caution as Trump warned that he could impose a 200% tariff on Chinese goods if Beijing refuses to supply magnets to the United States (US). Moreover, he also threatened "subsequent additional tariffs" and export restrictions on advanced technology and semiconductors in retaliation for digital services taxes that hit American technology companies.Traders will likely await Nvidia’s highly anticipated earnings report due on Wednesday, along with the upcoming release of the Q2 US Gross Domestic Product Annualized and July Personal Consumption Expenditures (PCE) Price Index data, the Fed's preferred inflation gauge.In the previous regular session, the Dow Jones Industrial Average slipped 0.77%, the S&P 500 declined 0.43%, and the Nasdaq Composite eased 0.22%. Nine of the 11 S&P 500 sectors closed lower, led by losses in consumer staples, healthcare, and utilities. Dow Jones FAQs What is the Dow Jones? The Dow Jones Industrial Average, one of the oldest stock market indices in the world, is compiled of the 30 most traded stocks in the US. The index is price-weighted rather than weighted by capitalization. It is calculated by summing the prices of the constituent stocks and dividing them by a factor, currently 0.152. The index was founded by Charles Dow, who also founded the Wall Street Journal. In later years it has been criticized for not being broadly representative enough because it only tracks 30 conglomerates, unlike broader indices such as the S&P 500. What factors impact the Dow Jones Industrial Average? Many different factors drive the Dow Jones Industrial Average (DJIA). The aggregate performance of the component companies revealed in quarterly company earnings reports is the main one. US and global macroeconomic data also contributes as it impacts on investor sentiment. The level of interest rates, set by the Federal Reserve (Fed), also influences the DJIA as it affects the cost of credit, on which many corporations are heavily reliant. Therefore, inflation can be a major driver as well as other metrics which impact the Fed decisions. What is Dow Theory? Dow Theory is a method for identifying the primary trend of the stock market developed by Charles Dow. A key step is to compare the direction of the Dow Jones Industrial Average (DJIA) and the Dow Jones Transportation Average (DJTA) and only follow trends where both are moving in the same direction. Volume is a confirmatory criteria. The theory uses elements of peak and trough analysis. Dow’s theory posits three trend phases: accumulation, when smart money starts buying or selling; public participation, when the wider public joins in; and distribution, when the smart money exits. How can I trade the DJIA? There are a number of ways to trade the DJIA. One is to use ETFs which allow investors to trade the DJIA as a single security, rather than having to buy shares in all 30 constituent companies. A leading example is the SPDR Dow Jones Industrial Average ETF (DIA). DJIA futures contracts enable traders to speculate on the future value of the index and Options provide the right, but not the obligation, to buy or sell the index at a predetermined price in the future. Mutual funds enable investors to buy a share of a diversified portfolio of DJIA stocks thus providing exposure to the overall index.

10:55 Forex Today: Markets turn risk-averse as Trump renews tariff threats
Here is what you need to know on Tuesday, August 26:

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In the second half of the day, July Durable Goods Orders and the Conference Board's Consumer Confidence Index data for August will be featured in the US economic calendar. US Dollar Price Last 7 Days The table below shows the percentage change of US Dollar (USD) against listed major currencies last 7 days. US Dollar was the strongest against the New Zealand Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD 0.32% 0.40% 0.00% 0.38% 0.30% 1.35% -0.19% EUR -0.32% 0.06% -0.43% 0.06% -0.12% 1.02% -0.50% GBP -0.40% -0.06% -0.62% -0.00% -0.14% 0.96% -0.57% JPY 0.00% 0.43% 0.62% 0.45% 0.37% 1.37% -0.12% CAD -0.38% -0.06% 0.00% -0.45% -0.09% 0.95% -0.57% AUD -0.30% 0.12% 0.14% -0.37% 0.09% 1.11% -0.42% NZD -1.35% -1.02% -0.96% -1.37% -0.95% -1.11% -1.51% CHF 0.19% 0.50% 0.57% 0.12% 0.57% 0.42% 1.51% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote). The USD came under renewed bearish pressure after United States (US) President Donald Trump announced on Truth Social that he has fired Federal Reserve (Fed) Governor Lisa Cook by sharing a letter addressed to her. "I have determined that there is sufficient cause to remove you from your position," Trump told Cook. In a statement shared by her attorneys, “President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” Cook said and added that she will continue to carry out her duties as Fed Governor. The USD staged a rebound following this development. At the time of press, the USD Index was virtually unchanged on the day at 98.40.In the meantime, Trump renewed tariff threats and caused markets to adopt a cautious stance. He said that countries that charge taxes to digital service providers from the US will face "subsequent additional tariffs." Moreover, Trump told reporters that China has to give the US magnets, or they will charge them "200% tariff or something." US stock index futures are down about 0.3% in the European morning.EUR/USD lost more than 0.8% on Monday and erased the majority of the gains it recorded on Friday. The pair fluctuates in a tight channel above 1.1600 in the European morning on Tuesday.GBP/USD turned south on Monday and fell about 0.5% on a daily basis. The pair stays in a consolidation phase at around 1.3450 to start the European session.The Reserve Bank of Australia (RBA) published the Minutes of its August monetary policy meeting on Tuesday, which showed that board members agreed that some further reduction in the cash rate is likely to be needed in the coming year. AUD/USD struggles to gain traction on Tuesday and trades below 0.6500.Following Friday's sharp decline, USD/JPY gathered bullish momentum and gained more than 0.5% on Monday. After spending the Asian session on the back foot, the pair reversed its direction and was last seen trading marginally higher on the day, slightly below 148.00. Japanese Finance Minister Katsunobu Kato said earlier in the day that he is “alarmed over FX moves, including those driven by speculators.”After posting small losses on Monday, Gold benefited from risk-aversion and pushed higher early Tuesday. As of writing, XAU/USD was trading at a fresh two-week high near $3,380. Risk sentiment FAQs What do the terms"risk-on" and "risk-off" mean when referring to sentiment in financial markets? In the world of financial jargon the two widely used terms “risk-on” and “risk off'' refer to the level of risk that investors are willing to stomach during the period referenced. In a “risk-on” market, investors are optimistic about the future and more willing to buy risky assets. In a “risk-off” market investors start to ‘play it safe’ because they are worried about the future, and therefore buy less risky assets that are more certain of bringing a return, even if it is relatively modest. What are the key assets to track to understand risk sentiment dynamics? Typically, during periods of “risk-on”, stock markets will rise, most commodities – except Gold – will also gain in value, since they benefit from a positive growth outlook. The currencies of nations that are heavy commodity exporters strengthen because of increased demand, and Cryptocurrencies rise. In a “risk-off” market, Bonds go up – especially major government Bonds – Gold shines, and safe-haven currencies such as the Japanese Yen, Swiss Franc and US Dollar all benefit. Which currencies strengthen when sentiment is "risk-on"? The Australian Dollar (AUD), the Canadian Dollar (CAD), the New Zealand Dollar (NZD) and minor FX like the Ruble (RUB) and the South African Rand (ZAR), all tend to rise in markets that are “risk-on”. This is because the economies of these currencies are heavily reliant on commodity exports for growth, and commodities tend to rise in price during risk-on periods. This is because investors foresee greater demand for raw materials in the future due to heightened economic activity. Which currencies strengthen when sentiment is "risk-off"? The major currencies that tend to rise during periods of “risk-off” are the US Dollar (USD), the Japanese Yen (JPY) and the Swiss Franc (CHF). The US Dollar, because it is the world’s reserve currency, and because in times of crisis investors buy US government debt, which is seen as safe because the largest economy in the world is unlikely to default. The Yen, from increased demand for Japanese government bonds, because a high proportion are held by domestic investors who are unlikely to dump them – even in a crisis. The Swiss Franc, because strict Swiss banking laws offer investors enhanced capital protection.

10:37 NZD/USD retreats below 0.5850, US Dollar bounces on risk aversion
The New Zealand Dollar is giving away previous gains against the US Dollar, and returns to the lower range of the 0.5800s after retreating from Monday’s highs in the area of 0.5880.

10:14 WTI tumbles to near $64.50 amid Russia-Ukraine supply concerns
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $64.60 during the early Asian trading hours on Tuesday. The WTI edges lower as traders assess the prospects of additional US tariffs on Russia.

09:57 USD/CHF holds above 0.8050 as Fed Governor Cook refuses to resign
USD/CHF extends its gains for the second successive session, trading around 0.8060 during the Asian hours on Tuesday.

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The pair appreciates as the US Dollar (USD) recovers its recent losses after US Federal Reserve (Fed) Governor Lisa Cook refused to resign after US President Donald Trump announced to remove her from the position on the Fed's board of directors. Cook said that she will not exit and will continue to carry out duties.The upside of the USD/CHF pair could be limited as the Swiss Franc (CHF) may gain ground amid increased safe-haven demand, driven by rising concerns over Fed independence. Moreover, the US Dollar may face challenges as market participants expect that the dismissal of the Fed Governor Cook may increase the chances of earlier interest rate cuts, given Trump’s ongoing pressure on the central bank to reduce borrowing costs.Additionally, Fed Chair Jerome Powell said at the Jackson Hole symposium last week that risks to the job market were rising, but also noted inflation remained a threat and that a decision wasn't set in stone. Traders will likely await the upcoming release of the Q2 US Gross Domestic Product Annualized and July Personal Consumption Expenditures Price Index data, the Fed's preferred inflation gauge.Swiss Employment Level rose 0.6% year-on-year to 5.532 million in the second quarter, matching the pace of the previous period, along with inflation remaining below the Swiss National Bank’s (SNB) 2% target, bolstering expectations for further rate cuts, potentially back into negative territory.Additionally, the newly imposed 39% US tariff on Swiss imports is set to weigh heavily on Switzerland’s export-driven economy and could increase pressure on the Swiss National Bank (SNB) to further ease policy. However, the Swiss government announced last week that it will intensify efforts to enhance the country’s appeal as a business hub, including measures like easing regulatory burdens and delaying costly new rules. Swiss Franc FAQs What key factors drive the Swiss Franc? The Swiss Franc (CHF) is Switzerland’s official currency. It is among the top ten most traded currencies globally, reaching volumes that well exceed the size of the Swiss economy. Its value is determined by the broad market sentiment, the country’s economic health or action taken by the Swiss National Bank (SNB), among other factors. Between 2011 and 2015, the Swiss Franc was pegged to the Euro (EUR). The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone. Why is the Swiss Franc considered a safe-haven currency? The Swiss Franc (CHF) is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress. This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks. Turbulent times are likely to strengthen CHF value against other currencies that are seen as more risky to invest in. How do decisions of the Swiss National Bank impact the Swiss Franc? The Swiss National Bank (SNB) meets four times a year – once every quarter, less than other major central banks – to decide on monetary policy. The bank aims for an annual inflation rate of less than 2%. When inflation is above target or forecasted to be above target in the foreseeable future, the bank will attempt to tame price growth by raising its policy rate. Higher interest rates are generally positive for the Swiss Franc (CHF) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken CHF. How does economic data influence the value of the Swiss Franc? Macroeconomic data releases in Switzerland are key to assessing the state of the economy and can impact the Swiss Franc’s (CHF) valuation. The Swiss economy is broadly stable, but any sudden change in economic growth, inflation, current account or the central bank’s currency reserves have the potential to trigger moves in CHF. Generally, high economic growth, low unemployment and high confidence are good for CHF. Conversely, if economic data points to weakening momentum, CHF is likely to depreciate. How does the Eurozone monetary policy affect the Swiss Franc? As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland’s main economic partner and a key political ally, so macroeconomic and monetary policy stability in the Eurozone is essential for Switzerland and, thus, for the Swiss Franc (CHF). With such dependency, some models suggest that the correlation between the fortunes of the Euro (EUR) and the CHF is more than 90%, or close to perfect.

09:45 France Consumer Confidence came in at 87 below forecasts (90) in August
France Consumer Confidence came in at 87 below forecasts (90) in August

09:02 Crude Oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Tuesday, early in the European session. WTI trades at $64.29 per barrel, down from Monday’s close at $64.62.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $67.87 after its previous daily close at $68.21.

09:01 Sweden Producer Price Index (MoM) increased to 1.1% in July from previous -0.6%
Sweden Producer Price Index (MoM) increased to 1.1% in July from previous -0.6%

09:00 Sweden Producer Price Index (YoY) climbed from previous -3.1% to -0.6% in July
Sweden Producer Price Index (YoY) climbed from previous -3.1% to -0.6% in July

08:59 EUR/GBP gains ground to near 0.8650 ahead of BoE's Mann speech
The EUR/GBP cross gains momentum to near 0.8645 during the early European session on Tuesday. The Euro (EUR) strengthens against the Pound Sterling (GBP) as the European Central Bank (ECB) signals a pause in monetary easing. The Bank of England (BoE) Catherine Mann is set to speak later on Tuesday.

08:40 USD/CAD trades cautiously around 1.3850 as Trump fires Fed’s Cook
The USD/CAD pair trades with caution around 1.3850 against the US Dollar (USD) on Tuesday. The Loonie pair faces slight selling pressure as United States (US) President Donald Trump has fired Federal Reserve (Fed) Governor Lisa Cook over mortgage allegations.

08:12 USD/INR jumps to two-week high as US confirms Russian-linked tariffs on India
The Indian Rupee (INR) declines to an over two-week low of around 87.90 against the US Dollar (USD) at open on Tuesday.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The Indian Rupee slides to an over two-week low of around 87.90 against the US Dollar.Indian exports to the US are set to face 50% tariffs from Wednesday.The removal of Fed’s Cook by US President Trump has dampened its independence.The Indian Rupee (INR) declines to an over two-week low of around 87.90 against the US Dollar (USD) at open on Tuesday. The USD/INR pair extends its upside as the Indian Rupee faces selling pressure due to looming tariffs imposed by the United States (US) on imports from India, which will come into effect on Wednesday.US Homeland Security confirmed in early trade on Tuesday that Washington will impose an additional 25% tariff on all Indian-origin goods from Wednesday, Reuters reported. The agency added that the new duties will apply to goods entering the U.S. for consumption or withdrawn from a warehouse for consumption from 12:01 AM EDT on Wednesday or 9:31 PM IST.The imports from New Delhi to Washington are facing one of the highest tariffs among US trading partners for buying Oil from Russia. US President Donald Trump warned India that he would penalize India by increasing additional duties if it continued to buy Russian Oil. Trump increased reciprocal tariffs on India to 50%.The imposition of higher levies on Indian exports to the US has dampened the competitiveness of Indian products in the global market. The impact of looming tariffs is also visible on Indian equity markets, which have fallen like a house of cards right from the first tick on Tuesday. At the time of writing, Nifty50 is down 0.75% to near 24,770.Additionally, the continuous outflow of foreign investment in the Indian stock market has also battered the Indian Rupee. So far in August, Foreign Institutional Investors (FIIs) have sold Indian equities worth Rs. 28,217.26 crores. FIIs also remained net sellers in Indian equity markets in July and pared stake worth Rs. 47,666.68 crores.Daily digest market movers: The oust of Fed’s Cook weighs on US DollarThe upside move in the USD/INR pair despite some pressure on the US Dollar demonstrates significant weakness in the Indian Rupee. The US Dollar faces slight pressure in early trade on Tuesday as US President Trump has fired Federal Reserve (Fed) Governor Lisa Cook over mortgage allegations.Last week, US President Trump called Fed Governor Cook to resign after his political allies accused her of holding mortgages in Michigan and Georgia. In response, Cook stated that she had "no intention of being bullied to step down" from her position at the central bank, Wall Street Journal (WSJ) reported.Market experts are seeing the ousting of Fed’s Cook as a serious attack by President Trump on Fed’s independence, which is an autonomous body whose decisions are independent of political influence."The move is another example of concerns over the Fed’s independence weighing on the dollar and has implications for the potential make-up of the FOMC going forward, which could see more dovish-leaning members. That adds to rate-cut prospects and a softer dollar outlook," analysts at OCBC said, Reuters reported.For a decent period of time, US Trump also threatened to fire Fed Chair Jerome Powell for not lowering interest rates. However, Trump praised Powell after the Jackson Hole Symposium on Friday, in which the latter surprisingly delivered a dovish stance on the interest rate outlook.On Friday, Fed’s Powell argued that there is a need to adjust policy rates as labor market concerns have escalated. Powell’s dovish remarks intensified market expectations for an interest rate cut in the September policy meeting, however, he didn’t explicitly endorse a rate cut move for next month.For fresh cues on the monetary policy outlook, investors await US Personal Consumption Expenditure Price Index (PCE) data for July, which is scheduled to be released on Friday.Technical Analysis: USD/INR stays above 20-day EMAThe USD/INR pair reclaims the two-week high of around 87.90 on Tuesday. The near-term trend of the pair remains bullish as it holds above the 20-day Exponential Moving Average (EMA), which trades near 8742.The 14-day Relative Strength Index (RSI) rises above 60.00. A fresh bullish momentum would emerge if the RSI holds above that level.Looking down, the July 28 low around 86.55 will act as key support for the major. On the upside, the August 5 high around 88.25 will be a critical hurdle for the pair. Indian Rupee FAQs What are the key factors driving the Indian Rupee? The Indian Rupee (INR) is one of the most sensitive currencies to external factors. The price of Crude Oil (the country is highly dependent on imported Oil), the value of the US Dollar – most trade is conducted in USD – and the level of foreign investment, are all influential. Direct intervention by the Reserve Bank of India (RBI) in FX markets to keep the exchange rate stable, as well as the level of interest rates set by the RBI, are further major influencing factors on the Rupee. How do the decisions of the Reserve Bank of India impact the Indian Rupee? The Reserve Bank of India (RBI) actively intervenes in forex markets to maintain a stable exchange rate, to help facilitate trade. In addition, the RBI tries to maintain the inflation rate at its 4% target by adjusting interest rates. Higher interest rates usually strengthen the Rupee. This is due to the role of the ‘carry trade’ in which investors borrow in countries with lower interest rates so as to place their money in countries’ offering relatively higher interest rates and profit from the difference. What macroeconomic factors influence the value of the Indian Rupee? Macroeconomic factors that influence the value of the Rupee include inflation, interest rates, the economic growth rate (GDP), the balance of trade, and inflows from foreign investment. A higher growth rate can lead to more overseas investment, pushing up demand for the Rupee. A less negative balance of trade will eventually lead to a stronger Rupee. Higher interest rates, especially real rates (interest rates less inflation) are also positive for the Rupee. A risk-on environment can lead to greater inflows of Foreign Direct and Indirect Investment (FDI and FII), which also benefit the Rupee. How does inflation impact the Indian Rupee? Higher inflation, particularly, if it is comparatively higher than India’s peers, is generally negative for the currency as it reflects devaluation through oversupply. Inflation also increases the cost of exports, leading to more Rupees being sold to purchase foreign imports, which is Rupee-negative. At the same time, higher inflation usually leads to the Reserve Bank of India (RBI) raising interest rates and this can be positive for the Rupee, due to increased demand from international investors. The opposite effect is true of lower inflation.

08:10 EUR/JPY climbs near 172.00 as ECB signals pause in easing policies
EUR/JPY gains ground after registering losses in the previous session, trading around 171.90 during the Asian hours on Tuesday.

08:00 Singapore Industrial Production (YoY): 7.1% (July) vs previous 8%
Singapore Industrial Production (YoY): 7.1% (July) vs previous 8%

08:00 Singapore Industrial Production (MoM) came in at 8.2%, above expectations (1.1%) in July
Singapore Industrial Production (MoM) came in at 8.2%, above expectations (1.1%) in July

07:35 India Gold price today: Gold rises, according to FXStreet data
Gold prices rose in India on Tuesday, according to data compiled by FXStreet.

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The price for Gold stood at 9,523.66 Indian Rupees (INR) per gram, up compared with the INR 9,495.62 it cost on Monday. The price for Gold increased to INR 111,082.10 per tola from INR 110,755.10 per tola a day earlier. Unit measure Gold Price in INR 1 Gram 9,523.66 10 Grams 95,235.80 Tola 111,082.10 Troy Ounce 296,219.20 2025 Gold Forecast Guide [PDF] Download your free copy of the 2025 Gold Forecast Daily Digest Market Movers: Gold price edges higher on Fed’s independence and US rate cut hopes Fed Chair Jerome Powell stated at the Jackson Hole symposium that the US central bank could consider a rate cut at its next policy meeting in September. Powell added that the US economy is facing a “challenging situation,” with inflation risks now tilted to the upside and employment risks to the downside. Dallas Fed President Lorie Logan on Monday said she feels the Fed has more room to reduce its reserves, and she expects banks to turn to its standing repo facility next month to alleviate any liquidity pressures. Markets are now pricing in nearly an 84.3% possibility for a cut of at least a quarter-point at the Fed’s policy meeting next month, down slightly from the 84.7% in the previous session, according to CME's FedWatch tool, but well above the 61.9% expectation a month ago. FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up. (An automation tool was used in creating this post.)

07:31 Silver Price Forecast: XAG/USD rises toward $39.00 due to increased safe-haven demand
Silver price (XAG/USD) recovers its recent losses from the previous session, trading around $38.80 per troy ounce during the Asian hours on Tuesday.

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The price of Silver gains ground amid increased safe-haven demand, driven by the rising concerns over Federal Reserve (Fed) independence after the US President Donald Trump announced to remove Fed Governor Lisa Cook over alleged mortgage fraud.President Trump posted a letter on social media early Tuesday, saying that he was removing Fed Governor Cook from her position on the Fed's board of directors. Cook’s dismissal may increase the chances of earlier interest rate cuts, given Trump’s ongoing pressure on the central bank to reduce borrowing costs. However, Cook said that she will not resign as there is no cause exists for her to be fired. I will continue to carry out duties, she added.Additionally, Trump warned he could impose a 200% tariff on Chinese goods if Beijing refuses to supply magnets to the United States (US), Reuters reported. Moreover, a Bloomberg report says that Trump threatened "subsequent additional tariffs" and export restrictions on advanced technology and semiconductors in retaliation for digital services taxes that hit American technology companies.Fed Chair Jerome Powell said at the Jackson Hole symposium on Friday that risks to the job market were rising, but also noted inflation remained a threat and that a decision wasn't set in stone. Traders will likely await the upcoming release of the Q2 US Gross Domestic Product Annualized and July Personal Consumption Expenditures Price Index data, the Fed's preferred inflation gauge. Silver FAQs Why do people invest in Silver? Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets. Which factors influence Silver prices? Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices. How does industrial demand affect Silver prices? Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices. How do Silver prices react to Gold’s moves? Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.

07:29 GBP/USD Price Forecast: Bullish outlook remains in play near 1.3450
The GBP/USD pair edges lower to near 1.3450 during the early European session on Tuesday. The potential downside for the major pair might be limited after US President Donald Trump announced he was firing a Federal Reserve (Fed) Governor, Lisa Cook.

06:56 EUR/USD trims gains below 1.1650 as Fed Governor Cook defies Trump
EUR/USD holds gains after registering more than three-quarters of a percent in the previous session, trading around 1.1630 during the Asian hours on Tuesday.

06:23 Fed's Cook: Will continue to carry out duties as Fed Governor
US Federal Reserve (Fed) Governor Lisa Cook said on Tuesday that she will not resign following President Donald Trump’s announcement of her removal.

06:12 US Dollar Index corrects to near 98.30 as Trump fires Fed’s Cook
The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, corrects to 98.30 during the Asian trading session on Tuesday, following a decent recovery move the previous day.

06:07 Australian Dollar remains subdued as President Trump threatens new tariffs on Chinese goods
The Australian Dollar (AUD) depreciates against the US Dollar (USD) on Tuesday, extending its losses for the second successive session.

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The AUD/USD pair remains subdued as US President Donald Trump warned that he may impose a 200% tariff on Chinese goods if China refuses to supply magnets to the United States (US), per Reuters. It is worth noting that any change in the Chinese economy could influence AUD as China and Australia are close trading partners.The AUD also faces challenges as the Reserve Bank of Australia (RBA) Minutes of its August monetary policy meeting suggested that board members agreed that some further reduction in the cash rate is likely to be needed in the coming year.RBA Meeting Minutes also indicated that policymakers consider the pace of rate cuts would be determined by incoming data and the balance of global risks. The board saw arguments for both a gradual pace of easing and for a faster pace, while the labor market remained a little tight, inflation was still above the midpoint, and domestic demand was recovering.The US Dollar struggles amid concerns over Federal Reserve (Fed) independence after the US President Donald Trump removed Fed Governor Lisa Cook. Trump posted a letter on social media early Tuesday, saying that he was removing Fed Governor Cook from her position on the Fed's board of directors. Cook’s exit will allow Trump to tap a replacement, helping him to exert more control over Fed policy, per Reuters.Australian Dollar weakens despite softer US Dollar as risk aversion weighsThe US Dollar Index (DXY), which measures the value of the US Dollar against six major currencies, is losing ground and trading around 98.30 at the time of writing. Traders will likely await the upcoming release of the Q2 US Gross Domestic Product Annualized and July Personal Consumption Expenditures Price Index data, the Fed's preferred inflation gauge.President Trump threatened "subsequent additional tariffs" and export restrictions on advanced technology and semiconductors in retaliation for digital services taxes that hit American technology companies, per Bloomberg.Fed Chair Jerome Powell said at the Jackson Hole symposium on Friday that risks to the job market were rising, but also noted inflation remained a threat and that a decision wasn't set in stone. Powell also stated that the Fed still believes it may not need to tighten policy solely based on uncertain estimates that employment may be beyond its maximum sustainable level.The US Initial Jobless Claims rose to 235K for the previous week, an eight-week high and above the consensus estimate of 225K, suggesting some softening in labor market conditions.Strong PMI data paired with rising jobless claims highlights the Federal Reserve’s challenge of weighing persistent inflation pressures against evidence of a softening labor market. According to the CME FedWatch tool, Fed funds futures traders are now pricing in a 74% chance of a rate reduction in September, down from 82% on Wednesday.Chicago Fed President Austan Goolsbee said on Thursday that September’s Fed meeting remains open for action. Goolsbee further stated that the Federal Reserve has been receiving mixed signals on the economy. Boston Fed President Susan Collins signaled openness to a rate cut as soon as September, citing tariff headwinds and potential labor market softness, even as near-term inflation risks persist.The preliminary S&P Global US Composite PMI picked up pace in August, with the index at 55.4 versus 55.1 prior. Meanwhile, the US Manufacturing PMI rose to 53.3 from 49.8 prior, surpassing the market consensus of 49.5. Services PMI eased to 55.4 from 55.7 previous reading, but was stronger than the 54.2 expected.Australian Dollar tests confluence resistance zone around 0.6500The AUD/USD pair is trading around 0.6480 on Tuesday. The technical analysis of the daily chart indicates that the pair is attempting to break above the descending channel pattern, suggesting a potential shift to bullish from bearish bias. Additionally, the pair is trading above the nine-day EMA, indicating short-term price momentum is stronger.The AUD/USD pair is testing the immediate resistance zone around the upper boundary of the descending channel at 0.6590, aligned with the 50-day Exponential Moving Average (EMA) at 0.6494. A successful breach above this crucial resistance zone may confirm the bullish shift and support the pair to approach the monthly high at 0.6568, reached on August 14, followed by the nine-month high of 0.6625, which was recorded on July 24.On the downside, the AUD/USD pair may find immediate support at the nine-day EMA of 0.6477. A break below this level would weaken the short-term price momentum and put downward pressure on the pair to target the two-month low of 0.6414, recorded on August 21. Further declines would find support near the three-month low of 0.6372, reached on June 23, aligned with the descending channel’s lower boundary.AUD/USD: Daily Chart Australian Dollar Price Today The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the weakest against the Swiss Franc. USD EUR GBP JPY CAD AUD NZD CHF USD -0.15% -0.11% -0.28% -0.07% -0.02% 0.07% -0.05% EUR 0.15% 0.10% 0.00% 0.08% 0.18% 0.46% 0.12% GBP 0.11% -0.10% -0.12% -0.00% 0.12% 0.34% 0.01% JPY 0.28% 0.00% 0.12% 0.13% 0.13% 0.50% 0.00% CAD 0.07% -0.08% 0.00% -0.13% 0.07% 0.35% -0.12% AUD 0.02% -0.18% -0.12% -0.13% -0.07% 0.09% -0.20% NZD -0.07% -0.46% -0.34% -0.50% -0.35% -0.09% -0.34% CHF 0.05% -0.12% -0.01% -0.01% 0.12% 0.20% 0.34% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote). Australian Dollar FAQs What key factors drive the Australian Dollar? One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD. How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive. How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar (AUD). When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected. Positive or negative surprises in Chinese growth data, therefore, often have a direct impact on the Australian Dollar and its pairs. How does the price of Iron Ore impact the Australian Dollar? Iron Ore is Australia’s largest export, accounting for $118 billion a year according to data from 2021, with China as its primary destination. The price of Iron Ore, therefore, can be a driver of the Australian Dollar. Generally, if the price of Iron Ore rises, AUD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Iron Ore falls. Higher Iron Ore prices also tend to result in a greater likelihood of a positive Trade Balance for Australia, which is also positive of the AUD. How does the Trade Balance impact the Australian Dollar? The Trade Balance, which is the difference between what a country earns from its exports versus what it pays for its imports, is another factor that can influence the value of the Australian Dollar. If Australia produces highly sought after exports, then its currency will gain in value purely from the surplus demand created from foreign buyers seeking to purchase its exports versus what it spends to purchase imports. Therefore, a positive net Trade Balance strengthens the AUD, with the opposite effect if the Trade Balance is negative.

05:29 Gold jumps as President Trump fires Fed Governor Lisa Cook
The Gold price (XAU/USD) attracts some buyers near $3,375 during the Asian trading hours on Tuesday. The precious metal edges higher amid concerns about the US Federal Reserve’s (Fed) independence after the report that US President Donald Trump says he is removing Fed Governor Lisa Cook.

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The US CB Consumer Confidence and Durable Goods Orders reports will be the highlights later on Tuesday. The Gold price (XAU/USD) attracts some buyers near $3,375 during the Asian trading hours on Tuesday. The precious metal edges higher amid concerns about the US Federal Reserve’s (Fed) independence after the report that US President Donald Trump says he is removing Fed Governor Lisa Cook. Additionally, signs that the US central bank will resume cutting interest rates provide some support to the yellow metal, as lower interest rates could reduce the opportunity cost of holding Gold. Looking ahead, the US Conference Board’s Consumer Confidence, Durable Goods Orders and the Richmond Fed Manufacturing Index reports are due later on Tuesday. Later this week, the key US economic data will be released, including Gross Domestic Product (GDP) for the second quarter and Personal Consumption Expenditures (PCE) Price Index data for July. If the report shows stronger-than-expected growth or any signs of hotter inflation, this might boost the Greenback and weigh on the USD-denominated commodity price. Daily Digest Market Movers: Gold price edges higher on Fed’s independence and US rate cut hopesFed Chair Jerome Powell stated at the Jackson Hole symposium that the US central bank could consider a rate cut at its next policy meeting in September. Powell added that the US economy is facing a “challenging situation,” with inflation risks now tilted to the upside and employment risks to the downside.Dallas Fed President Lorie Logan on Monday said she feels the Fed has more room to reduce its reserves, and she expects banks to turn to its standing repo facility next month to alleviate any liquidity pressures.Markets are now pricing in nearly an 84.3% possibility for a cut of at least a quarter-point at the Fed’s policy meeting next month, down slightly from the 84.7% in the previous session, according to CME's FedWatch tool, but well above the 61.9% expectation a month ago. Gold keeps the bullish vibe in the longer termThe Gold price trades in positive territory on the day. According to the daily chart, the positive outlook of the precious metal remains intact as the price holds above the key 100-day Exponential Moving Average (EMA). The upward momentum is supported by the 14-day Relative Strength Index (RSI), which stands above the midline near 55.0. This displays bullish momentum in the near term.On the bright side, the key upside barrier for Gold emerges in the $3,400-3,410 zone, representing the psychological level, the upper boundary of the Bollinger Band, and the high of August 8. Extended gains could pave the way to $3,439, the high of July 23. The next resistance level is seen at $3,500, the round figure, and the high of April 22. In the bearish event, the initial support level for the yellow metal is located at $3,325, the low of August 21. A breach of this level could see a drop to $3,285, the lower limit of the Bollinger Band. The crucial contention level to watch is $3,270, the 100-day EMA. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

05:07 Japan’s Kato: Alarmed over FX moves, including those driven by speculators
Japanese Finance Minister Katsunobu Kato said on Tuesday that he is “alarmed over FX moves, including those driven by speculators.”

04:44 USD/JPY falls below 147.50 following fresh threats from Trump
USD/JPY retraces its recent gains registered in the previous session, trading around 147.30 during the Asian hours on Tuesday.

04:38 RBA Minutes: Further rate cuts likely needed in coming year
The Reserve Bank of Australia (RBA) published the Minutes of its August monetary policy meeting on Tuesday, which showed that board members agreed that some further reduction in the cash rate is likely to be needed in the coming year.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}} The Reserve Bank of Australia (RBA) published the Minutes of its August monetary policy meeting on Tuesday, which showed that board members agreed that some further reduction in the cash rate is likely to be needed in the coming year. Additional takeawaysThe RBA board saw a strong case for a 25bps cut in the cash rate.
The board judged some further reduction in the cash rate likely needed over the coming year.
The stance of policy was still considered somewhat restrictive.
The pace of rate cuts would be determined by incoming data and the balance of global risks.
The board saw arguments for both a gradual pace of easing and for a faster pace.
The labour market remained a little tight, inflation was still above midpoint, and domestic demand was recovering.
Uncertainty about spare capacity and the neutral rate also argued for gradual easing.
Faster easing might be needed if the labour market is already in balance, risking inflation undershooting the midpoint.
The balance of risks could shift to the downside on adverse developments in the global economy.
The board agreed it was not yet possible to judge between scenarios and would be guided by data.
Latest staff forecasts were consistent with meeting full employment and inflation targets.
The board judged house price increases to be within the bounds of past easing cycles, with home building picking up.
Risks from U.S. tariff policy remained significant, though the worst outcomes seemed to have been avoided.
The board considered whether to run down government bond holdings at a faster pace but decided it was not needed.
Bonds would continue to be run down as they mature, with a faster pace no longer under consideration.Market reactionAt the time of press, the AUD/USD pair was up 0.07% on the day at 0.6477. RBA FAQs What is the Reserve Bank of Australia and how does it influence the Australian Dollar? The Reserve Bank of Australia (RBA) sets interest rates and manages monetary policy for Australia. Decisions are made by a board of governors at 11 meetings a year and ad hoc emergency meetings as required. The RBA’s primary mandate is to maintain price stability, which means an inflation rate of 2-3%, but also “..to contribute to the stability of the currency, full employment, and the economic prosperity and welfare of the Australian people.” Its main tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will strengthen the Australian Dollar (AUD) and vice versa. Other RBA tools include quantitative easing and tightening. How does inflation data impact the value of the Australian Dollar? While inflation had always traditionally been thought of as a negative factor for currencies since it lowers the value of money in general, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Moderately higher inflation now tends to lead central banks to put up their interest rates, which in turn has the effect of attracting more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in the case of Australia is the Aussie Dollar. How does economic data influence the value of the Australian Dollar? Macroeconomic data gauges the health of an economy and can have an impact on the value of its currency. Investors prefer to invest their capital in economies that are safe and growing rather than precarious and shrinking. Greater capital inflows increase the aggregate demand and value of the domestic currency. Classic indicators, such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can influence AUD. A strong economy may encourage the Reserve Bank of Australia to put up interest rates, also supporting AUD. What is Quantitative Easing (QE) and how does it affect the Australian Dollar? Quantitative Easing (QE) is a tool used in extreme situations when lowering interest rates is not enough to restore the flow of credit in the economy. QE is the process by which the Reserve Bank of Australia (RBA) prints Australian Dollars (AUD) for the purpose of buying assets – usually government or corporate bonds – from financial institutions, thereby providing them with much-needed liquidity. QE usually results in a weaker AUD. What is Quantitative tightening (QT) and how does it affect the Australian Dollar? Quantitative tightening (QT) is the reverse of QE. It is undertaken after QE when an economic recovery is underway and inflation starts rising. Whilst in QE the Reserve Bank of Australia (RBA) purchases government and corporate bonds from financial institutions to provide them with liquidity, in QT the RBA stops buying more assets, and stops reinvesting the principal maturing on the bonds it already holds. It would be positive (or bullish) for the Australian Dollar.

04:19 PBOC sets USD/CNY reference rate at 7.1188 vs. 7.1161 previous
On Monday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1188 as compared to the previous day's fix of 7.1161 and 7.1670 Reuters estimate.

04:02 US President Donald Trump threatens export curbs, tariffs in digital tax retaliation
US President Donald Trump threatened "subsequent additional tariffs" and export restrictions on advanced technology and semiconductors in retaliation for digital services taxes that hit American technology companies, Bloomberg reported on Tuesday.

03:54 NZD/USD strengthens above 0.5850 as Trump orders removal of Fed governor Cook
The NZD/USD pair gains ground to near 0.5860 during the early Asian session on Tuesday. The US Dollar (USD) weakens against the New Zealand Dollar (NZD) amid concerns over Federal Reserve (Fed) independence after the report that US President Donald Trump says he is removing Fed Governor Lisa Cook.

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Trump said he is removing Lisa Cook from the Fed board. The RBNZ’s dovish tone might cap the Kiwi’s upside. The NZD/USD pair gains ground to near 0.5860 during the early Asian session on Tuesday. The US Dollar (USD) weakens against the New Zealand Dollar (NZD) amid concerns over Federal Reserve (Fed) independence after the report that US President Donald Trump says he is removing Fed Governor Lisa Cook. Reuters reported early Tuesday that Trump said that he was removing Fed Governor Cook from her position on the Fed's board of directors. Trump made the announcement in a letter to Cook that he posted on social media. Cook’s exit will allow Trump to tap a replacement, helping him to exert more control over Fed policy. Concerns about the central bank's independence could exert some selling pressure on the USD and act as a tailwind for the pair in the near term. New Zealand’s Retail Sales rose 0.5% QoQ in the second quarter (Q2) versus a 0.8% increase in Q1, Statistics New Zealand reported Monday. This figure came in above market expectations of a 0.2% gain. Meanwhile, Retail Sales ex Autos climbed 0.7% for the same period, compared to a 0.4% gain in the previous period. The upbeat Retail Sales boost the Kiwi against the USD. However, the Reserve Bank of New Zealand’s (RBNZ) dovish tone might cap the upside for the NZD. The New Zealand central bank cut the Official Cash Rate (OCR) by 25 basis points (bps) to 3.0% at its August meeting last week. The RBNZ signalled further reductions in the coming months as policymakers warned of domestic and global headwinds to growth. Markets are now pricing in nearly a 50% possibility of a move in October and over a 100% chance for November, according to Reuters. New Zealand Dollar FAQs What key factors drive the New Zealand Dollar? The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency. Another factor moving NZD is dairy prices as the dairy industry is New Zealand’s main export. High dairy prices boost export income, contributing positively to the economy and thus to the NZD. How do decisions of the RBNZ impact the New Zealand Dollar? The Reserve Bank of New Zealand (RBNZ) aims to achieve and maintain an inflation rate between 1% and 3% over the medium term, with a focus to keep it near the 2% mid-point. To this end, the bank sets an appropriate level of interest rates. When inflation is too high, the RBNZ will increase interest rates to cool the economy, but the move will also make bond yields higher, increasing investors’ appeal to invest in the country and thus boosting NZD. On the contrary, lower interest rates tend to weaken NZD. The so-called rate differential, or how rates in New Zealand are or are expected to be compared to the ones set by the US Federal Reserve, can also play a key role in moving the NZD/USD pair. How does economic data influence the value of the New Zealand Dollar? Macroeconomic data releases in New Zealand are key to assess the state of the economy and can impact the New Zealand Dollar’s (NZD) valuation. A strong economy, based on high economic growth, low unemployment and high confidence is good for NZD. High economic growth attracts foreign investment and may encourage the Reserve Bank of New Zealand to increase interest rates, if this economic strength comes together with elevated inflation. Conversely, if economic data is weak, NZD is likely to depreciate. How does broader risk sentiment impact the New Zealand Dollar? The New Zealand Dollar (NZD) tends to strengthen during risk-on periods, or when investors perceive that broader market risks are low and are optimistic about growth. This tends to lead to a more favorable outlook for commodities and so-called ‘commodity currencies’ such as the Kiwi. Conversely, NZD tends to weaken at times of market turbulence or economic uncertainty as investors tend to sell higher-risk assets and flee to the more-stable safe havens.

03:30 US President Donald Trump says he is removing Fed Governor Cook — Reuters
US President Donald Trump said that he was removing Federal Reserve (Fed) Governor Lisa Cook from her position on the Fed's board of directors, Reuters reported on Tuesday.

03:03 WTI edges higher above $64.50 amid supply concerns, potential US Fed rate cut
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $64.60 during the early Asian trading hours on Tuesday. The WTI extends the rally due to a pause in negotiations for a peace deal between Russia and Ukraine.

02:52 Japan Corporate Service Price Index (YoY) dipped from previous 3.2% to 2.9% in July
Japan Corporate Service Price Index (YoY) dipped from previous 3.2% to 2.9% in July

02:12 USD/CAD drifts lower to near 1.3850 amid tariff easing
The USD/CAD pair trades with mild losses around 1.3855 during the early Asian session on Tuesday. The Canadian Dollar (CAD) strengthens against the US Dollar (USD) on Canada’s move to ease trade tensions with its largest trading partner.

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LeBlanc and Lutnick are set to meet later this week as Canada plans to ease most retaliatory tariffs against the US. Rising Fed rate cut bets weigh on the US Dollar. The USD/CAD pair trades with mild losses around 1.3855 during the early Asian session on Tuesday. The Canadian Dollar (CAD) strengthens against the US Dollar (USD) on Canada’s move to ease trade tensions with its largest trading partner. The Conference Board’s Consumer Confidence, Durable Goods Orders and the Richmond Fed Manufacturing Index reports will be released later on Tuesday. Canada- US Trade Minister Dominic LeBlanc plans to meet with US Commerce Secretary Howard Lutnick in Washington this week. The move comes days after Canadian Prime Minister Mark Carney said that, beginning September 1, the federal government will mirror US tariffs by lifting them on goods that comply with the North American trade pact. However, countermeasures on steel, aluminum, and the auto sector will remain in place. These positive developments could provide some support to the CAD in the near term. Additionally, extended gains in crude oil prices could lift the commodity-linked Loonie. It’s worth noting that Canada is the largest oil exporter to the US, and higher crude oil prices tend to have a positive impact on the CAD value.Rising speculation of a September rate cut by the Federal Reserve (Fed) might drag the Greenback lower. Traders are now pricing in nearly an 84.3% odds for a cut of at least a quarter-point at the Fed’s September meeting, down from 84.7% on Monday, according to the CME FedWatch tool. Traders will take more cues from the key US economic data released this week, including Gross Domestic Product (GDP) and Personal Consumption Expenditures (PCE) Price Index data. If the report shows stronger-than-expected growth or any signs of hotter inflation, this might cap the downside for the USD against the CAD. Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports. Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. How do the decisions of the Bank of Canada impact the Canadian Dollar? The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive. How does the price of Oil impact the Canadian Dollar? The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD. How does inflation data impact the value of the Canadian Dollar? While inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar. How does economic data influence the value of the Canadian Dollar? Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall.

02:11 USD/CHF Price Forecast: Climbs to 0.8059 as Dollar steadies
USD/CHF advances for the first time of the week, up by over 0.20%, trading at 0.8059 as the Greenback recovers following last Friday’s plunge, as probabilities for a Fed rate cut settled at around 86%.

02:03 United Kingdom BRC Shop Price Index (YoY) increased to 0.9% in August from previous 0.7%
United Kingdom BRC Shop Price Index (YoY) increased to 0.9% in August from previous 0.7%

02:03 GBP/USD pares gains as markets weigh rate cut bets
GBP/USD backslid on Monday, falling back into the 1.3450 region after global markets reconsidered their rate cut frenzy sparked by perceptions of a dovish Federal Reserve (Fed) Chair Jerome Powell late last week.

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Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

00:34 Fed's Logan mulls over ending the Fed funds rate target range
Federal Reserve (Fed) Bank of Dallas President Lorie Logan mused about making key policy adjustments at the Fed on Monday, stressing the need for more effective policy communication.

Federal Reserve (Fed) Bank of Dallas President Lorie Logan mused about making key policy adjustments at the Fed on Monday, stressing the need for more effective policy communication. Key highlightsThe US has more room to reduce reserves.
Responding to banks' increased short-run demand for reserves is a recipe for an ever-expanding central bank balance sheet.
As reserve levels drop, preferable for the Fed to seek to meet lower long-run bank demand for reserves rather than the higher short-run demand.
Fed balance sheet should hold primarily treasuries in the long run.
I was encouraged to see the use of the standing repo facility at the June quarter-end. I anticipate similar use in September if needed.
Periodic reviews give us systematic way to learn.
Clear we need a strategy that's robust to a range of environments.
The Fed communication could do more to convey range of views.
The Fed should explore ways to avoid overemphasizing the median view relative to the diversity of views at the Fed.
We should continue to look to see if optimal to continue to communicate a range for The Fed fund rate target.

00:15 EUR/USD falls below 1.17 as profit-taking lifts US Dollar
EUR/USD erases some of last Friday’s gains and drops 0.93% as the Greenback stages a recovery, following dovish remarks by Federal Reserve (Fed) Chair Jerome Powell. Expectations that the Fed will cut rates in September triggered the Euro’s (EUR) advance.

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Expectations that the Fed will cut rates in September triggered the Euro’s (EUR) advance. The pair trades back below 1.1700 at around 1.1610 at the time of writing.The US Dollar’s recovery seems to have been triggered by traders taking profits, as market participants continued to digest Powell’s words. Although he opened the door to resume the Fed’s easing cycle, he needs data confirmation.According to the FedWatch Tool, the odds for a Fed rate cut at the September meeting are 86%. If the Fed pulls the trigger, the EUR/USD pair could extend its rally and pave the way for a test of the year-to-date (YTD) high of 1.1829.The outcome of the Federal Reserve’s September meeting is yet to be certain. Before the monetary policy decision, two inflation reports await—the Core Personal Consumption Expenditures (PCE) Price Index for July, and August’s Consumer Price Index (CPI)— and August’s Nonfarm Payrolls.Two red-hot inflation reports and strong employment data could prevent the Fed from cutting rates, pushing that decision towards the last quarter of 2025.Data-wise, the US economic docket featured housing data, which fell following an upward revision to June’s print. In the European Union (EU), Germany reported the IFO Business Climate, which hit its highest level since May 2024, at 89, above expectations and July’s 88.6. The IFO President Clemens Fuest said, “The recovery of the German economy remains weak.”Daily digest market movers: EUR/USD falls amid broad US Dollar strengthThe Euro’s drop is attributed to broad US Dollar strength. The US Dollar Index (DXY), which tracks the performance of the US Dollar against a basket of six currencies, rises by over 0.69% to 98.40.Fed Chair Powell said at Jackson Hole that, “The baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.” He added that “the stability of the unemployment rate and other labor market measures allows us to proceed carefully.”St. Louis Fed President Alberto Musalem said that he needs more data before deciding to support a rate cut at the September meeting, given that inflation remains above the Fed’s 2% goal. “It is real that inflation is running closer to 3% than to 2%. That's real, and there is a possibility, not the base case, that there could be some persistence,” he said, adding that monetary policy “is in the right place.”US New Home Sales fell -0.6% in July from 1.656 million to 1.652 million.EUR/USD is set to extend its gains due to central bank monetary policy divergence. The European Central Bank (ECB) is projected to hold rates unchanged at the next meeting, while the Fed, although the chances have trimmed, is expected to resume its easing cycle.Expectations that the Fed will reduce rates at the September meeting continued to trend higher. Across the pond, the ECB is expected to hold rates with odds standing at 94%, and a slim 6% chance of a 25-basis-point (bps) rate cut.Technical outlook: EUR/USD tumbles below 1.17 as bears eye 1.16EUR/USD uptrend remains intact, but the ongoing pullback towards the 20-day Simple Moving Average (SMA) of 1.1615 and the Relative Strength Index (RSI) turning bearish suggests that the pullback might extend lower, before the pair continues to climb higher.If EUR/USD drops below 1.1600, this clears the way to challenge the 1.1500, followed by the 100-day SMA at 1.1488. Conversely, if bulls push prices above 1.1650, expect another re-test of 1.1700, with the next area of interest being 1.1742, the August 22 high. Euro FAQs What is the Euro? The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%). What is the ECB and how does it impact the Euro? The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. How does inflation data impact the value of the Euro? Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money. How does economic data influence the value of the Euro? Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy. How does the Trade Balance impact the Euro? Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

00:00 South Korea Consumer Sentiment Index: 111.4 (August) vs 110.8
South Korea Consumer Sentiment Index: 111.4 (August) vs 110.8

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17:00 United States Richmond Fed Manufacturing Index above expectations (-17) in August: Actual (-7) United States Richmond Fed Manufacturing Index above expectations (-17) in August: Actual (-7)

16:06 USD/JPY recovers above 147.50 as markets focus on Trump-Fed feud USD/JPY lost its traction and declined below 147.00 after posting strong gains on Monday. Although the pair recovers above 147.50 region in the second half of the day on Tuesday, it remains in negative territory.

16:00 United States Housing Price Index (MoM) came in at -0.2% below forecasts (0%) in June United States Housing Price Index (MoM) came in at -0.2% below forecasts (0%) in June

16:00 United States S&P/Case-Shiller Home Price Indices (YoY) registered at 2.1%, below expectations (2.2%) in June United States S&P/Case-Shiller Home Price Indices (YoY) registered at 2.1%, below expectations (2.2%) in June

15:55 United States Redbook Index (YoY) up to 6.5% in August 22 from previous 5.9% United States Redbook Index (YoY) up to 6.5% in August 22 from previous 5.9%

15:47 GBP/USD recovers toward 1.3500 ahead of US consumer sentiment data Following Monday's bearish action, GBP/USD stages a rebound on Tuesday. At the time of press, the pair was up 0.25% on the day at 1.3485.

15:40 Gold picks up pace, retargets $3,400 on USD selling Gold prices are climbing again, snapping Monday’s brief dip and pushing back toward the key $3,400 per ounce level.

15:30 United States Durable Goods Orders ex Transportation registered at 1.1% above expectations (0.2%) in July United States Durable Goods Orders ex Transportation registered at 1.1% above expectations (0.2%) in July

15:30 United States Durable Goods Orders registered at -2.8% above expectations (-4%) in July United States Durable Goods Orders registered at -2.8% above expectations (-4%) in July

15:30 United States Durable Goods Orders ex Defense up to -2.5% in July from previous -9.4% United States Durable Goods Orders ex Defense up to -2.5% in July from previous -9.4%

15:00 Brazil Mid-month Inflation registered at -0.14% above expectations (-0.23%) in August Brazil Mid-month Inflation registered at -0.14% above expectations (-0.23%) in August

14:49 EUR up modestly and outperforming G10 – Scotiabank The Euro (EUR) is up 0.2% against the US Dollar (USD) and outperforming all of the G10 currencies in quiet trade, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

14:47 CAD quiet ahead of Macklem speech – Scotiabank The Canadian Dollar (CAD) is trading in a tight range and entering Tuesday’s NA session with a marginal gain against the US Dollar (USD)

14:43 USD trading defensively as markets digest Fed’s Cook – Scotiabank The US Dollar (USD) is soft but overall movement remains limited as G10 currencies respond to news of President Trump’s moves to fire Fed Gov, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

14:40 AUD/USD edges up to near 0.6500 ahead of US Durable Goods Orders data The AUD/USD pair ticks higher to near the psychological level of 0.6500 during the European trading hours on Tuesday.

14:33 Oil prices rise due to dwindling hopes for peace in Ukraine – Commerzbank Oil prices rose last week and also started the new trading week on a bullish note. Brent rose to $69 per barrel and WTI to $65 per barrel.

14:05 Gold price rises noticeably after Powell speech – Commerzbank The price of Gold jumped by around $50 to just under $3,380 per troy ounce on Friday afternoon, Commerzbank's commodity analyst Carsten Fritsch notes.

13:55 USD/CAD pulls back below 1.3850 ahead of US data, BoC Macklem's speech The US Dollar has retraced its previous gains against the loonie on Tuesday, retreating to levels right below 1.3850 after being capped at intra-day highs near 1.3870.

13:39 When is the US Durable Goods Orders data and how it could affect EUR/USD? The Durable Goods Orders for July is due for release today at 12:30 GMT. Economists expect fresh orders for durable goods have declined again, but at a moderate pace of 4%, compared to a 9.3% contraction seen in June.

13:34 USD/CNH: Chance of dropping below July’s low of 7.1435 – UOB Group US Dollar (USD) could drop below July’s low of 7.1435, but it might not be able to maintain a foothold below this level.

13:29 AUD/USD holds range as RBA minutes signal more easing – BBH AUD/USD dipped slightly but remains within its multi-month 0.6400-0.6600 range, BBH FX analysts report, BBH FX analysts report.

13:23 Silver price today: Silver falls, according to FXStreet data Silver prices (XAG/USD) fell on Tuesday, according to FXStreet data.

13:18 Political interference risks undermine USD outlook – BBH USD and 10-year Treasuries weakened after President Donald Trump said he was firing 'for cause' Fed Governor Lisa Cook effective immediately, BBH FX analysts report.

12:58 NZD/USD: Likely to trade between 0.5830 and 0.5875 – UOB Group The current price movements are likely part of a range-trading phase between 0.5830 and 0.5875.

12:34 USD whips on data but wilts on Trump – DBS The DXY Index climbed 0.7% to 98.4 overnight, primarily on profit-taking sparked by better-than-expected US new home sales (NHS).

12:11 EUR/USD: Likely to trade in a range of 1.1600/1.1690 – UOB Group Euro (EUR) is likely to trade in a range of 1.1600/1.1690. In the longer run, EUR is expected to trade in a range between 1.1580 and 1.1745, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

11:59 China’s growing exports: Not just transshipment – Standard Chartered China’s y/y export growth accelerated during H1 despite a sharp decline in exports to US. Phones and laptops comprised an outsized share of China’s declining exports to the US.

11:54 USD: Tightrope walk for the dollar – Commerzbank The coming weeks, and probably even months, are likely to be a tightrope walk for the dollar against the backdrop of the Fed's adjusted stance.

11:43 GBP/JPY Price Forecast: Giving signs of topping below 200.00 The British Pound is showing signs of topping after having reached one-year highs, right above the 200.00 round level against the Japanese Yen.

11:41 USD: Focus on Cook's removal – ING The US Dollar (USD) briefly sold off 0.6% in Asia after news broke that US President Donald Trump was dismissing Lisa Cook, a member of the Federal Reserve's governing board. This follows allegations of mortgage application irregularity.

11:38 DXY: Consumer confidence, durable goods today – OCBC US Dollar (USD) fell this morning, in knee-jerk reaction to headline that Trump removed Fed Governor Lisa Cook from her position. DXY last at 98.43 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

11:32 Silver Price Forecast: XAG/USD rises to near $38.80 as Fed Cook’s removal dampens market mood Silver price (XAG/USD) recovers its early losses and trades 0.33% higher to near $38.80 during the European trading session on Tuesday.

11:30 GBP: Hawkish BoE and French politics to weigh on EUR/GBP – ING EUR/GBP looks to stay offered this week as French politics prompts some reassessment of long euro exposure, ING's FX analyst Chris Turner notes.

11:29 US Dollar Index steadies near 98.50 as yields, Fed concerns drive focus The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is steadying after recovering daily losses and trading around 98.40 during the European hours on Tuesday.

11:24 EUR: French government looks likely to fall in September – ING Hitting EUR/USD late on Monday was the surprise announcement from French Prime Minister François Bayrou that he was calling a vote of confidence in his government's fiscal austerity plans on 8 September.

11:20 Pound Sterling edges lower against US Dollar despite Trump announces removal of Fed’s Cook The Pound Sterling (GBP) ticks down to near 1.3440 against the US Dollar (USD) during the European trading session on Tuesday.

11:14 USD/JPY consolidates near 147.90 as Fed’s Cook vows to stay The US Dollar is regaining lost ground across the board amid a new twist in the Federal Reserve saga, as Governour Lisa Cook dismissed Trump’s call to resign and committed to carry on with her duties at the Central Bank.

10:55 Forex Today: Markets turn risk-averse as Trump renews tariff threats Here is what you need to know on Tuesday, August 26:

10:37 NZD/USD retreats below 0.5850, US Dollar bounces on risk aversion The New Zealand Dollar is giving away previous gains against the US Dollar, and returns to the lower range of the 0.5800s after retreating from Monday’s highs in the area of 0.5880.

10:14 WTI tumbles to near $64.50 amid Russia-Ukraine supply concerns West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $64.60 during the early Asian trading hours on Tuesday. The WTI edges lower as traders assess the prospects of additional US tariffs on Russia.

09:57 USD/CHF holds above 0.8050 as Fed Governor Cook refuses to resign USD/CHF extends its gains for the second successive session, trading around 0.8060 during the Asian hours on Tuesday.

09:45 France Consumer Confidence came in at 87 below forecasts (90) in August France Consumer Confidence came in at 87 below forecasts (90) in August

09:01 Sweden Producer Price Index (MoM) increased to 1.1% in July from previous -0.6% Sweden Producer Price Index (MoM) increased to 1.1% in July from previous -0.6%

09:00 Sweden Producer Price Index (YoY) climbed from previous -3.1% to -0.6% in July Sweden Producer Price Index (YoY) climbed from previous -3.1% to -0.6% in July

08:12 USD/INR jumps to two-week high as US confirms Russian-linked tariffs on India The Indian Rupee (INR) declines to an over two-week low of around 87.90 against the US Dollar (USD) at open on Tuesday.

08:10 EUR/JPY climbs near 172.00 as ECB signals pause in easing policies EUR/JPY gains ground after registering losses in the previous session, trading around 171.90 during the Asian hours on Tuesday.

08:00 Singapore Industrial Production (YoY): 7.1% (July) vs previous 8% Singapore Industrial Production (YoY): 7.1% (July) vs previous 8%

08:00 Singapore Industrial Production (MoM) came in at 8.2%, above expectations (1.1%) in July Singapore Industrial Production (MoM) came in at 8.2%, above expectations (1.1%) in July

07:35 India Gold price today: Gold rises, according to FXStreet data Gold prices rose in India on Tuesday, according to data compiled by FXStreet.

07:31 Silver Price Forecast: XAG/USD rises toward $39.00 due to increased safe-haven demand Silver price (XAG/USD) recovers its recent losses from the previous session, trading around $38.80 per troy ounce during the Asian hours on Tuesday.

06:56 EUR/USD trims gains below 1.1650 as Fed Governor Cook defies Trump EUR/USD holds gains after registering more than three-quarters of a percent in the previous session, trading around 1.1630 during the Asian hours on Tuesday.

06:23 Fed's Cook: Will continue to carry out duties as Fed Governor US Federal Reserve (Fed) Governor Lisa Cook said on Tuesday that she will not resign following President Donald Trump’s announcement of her removal.

06:12 US Dollar Index corrects to near 98.30 as Trump fires Fed’s Cook The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, corrects to 98.30 during the Asian trading session on Tuesday, following a decent recovery move the previous day.

06:07 Australian Dollar remains subdued as President Trump threatens new tariffs on Chinese goods The Australian Dollar (AUD) depreciates against the US Dollar (USD) on Tuesday, extending its losses for the second successive session.

05:07 Japan’s Kato: Alarmed over FX moves, including those driven by speculators Japanese Finance Minister Katsunobu Kato said on Tuesday that he is “alarmed over FX moves, including those driven by speculators.”

04:44 USD/JPY falls below 147.50 following fresh threats from Trump USD/JPY retraces its recent gains registered in the previous session, trading around 147.30 during the Asian hours on Tuesday.

04:19 PBOC sets USD/CNY reference rate at 7.1188 vs. 7.1161 previous On Monday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1188 as compared to the previous day's fix of 7.1161 and 7.1670 Reuters estimate.

03:30 US President Donald Trump says he is removing Fed Governor Cook — Reuters US President Donald Trump said that he was removing Federal Reserve (Fed) Governor Lisa Cook from her position on the Fed's board of directors, Reuters reported on Tuesday.

02:52 Japan Corporate Service Price Index (YoY) dipped from previous 3.2% to 2.9% in July Japan Corporate Service Price Index (YoY) dipped from previous 3.2% to 2.9% in July

02:11 USD/CHF Price Forecast: Climbs to 0.8059 as Dollar steadies USD/CHF advances for the first time of the week, up by over 0.20%, trading at 0.8059 as the Greenback recovers following last Friday’s plunge, as probabilities for a Fed rate cut settled at around 86%.

02:03 United Kingdom BRC Shop Price Index (YoY) increased to 0.9% in August from previous 0.7% United Kingdom BRC Shop Price Index (YoY) increased to 0.9% in August from previous 0.7%

02:03 GBP/USD pares gains as markets weigh rate cut bets GBP/USD backslid on Monday, falling back into the 1.3450 region after global markets reconsidered their rate cut frenzy sparked by perceptions of a dovish Federal Reserve (Fed) Chair Jerome Powell late last week.

00:34 Fed's Logan mulls over ending the Fed funds rate target range Federal Reserve (Fed) Bank of Dallas President Lorie Logan mused about making key policy adjustments at the Fed on Monday, stressing the need for more effective policy communication.

00:00 South Korea Consumer Sentiment Index: 111.4 (August) vs 110.8 South Korea Consumer Sentiment Index: 111.4 (August) vs 110.8

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