Forex News Timeline

12:15 US NatGas rallies above $3 on late-season heat – ING
US natural Gas prices climbed with Henry Hub settling above $3/MMBtu, as forecasts for late-season heat boosted cooling demand. The hotter outlook is expected to slow stockpile builds that typically accelerate this time of year, ING's commodity experts Ewa Manthey and Warren Patterson note.

US natural Gas prices climbed with Henry Hub settling above $3/MMBtu, as forecasts for late-season heat boosted cooling demand. The hotter outlook is expected to slow stockpile builds that typically accelerate this time of year, ING's commodity experts Ewa Manthey and Warren Patterson note.Henry Hub up 3.5% as cooling demand set to rise"US natural Gas prices edged higher with Henry Hub up 3.5% on the day and settling above $3/MMBtu yesterday amid forecasts for late season heat that would lift cooling demand and trim storage injections." "Recent weather reports suggest above-normal temperatures persisting through the next two weeks in the country. The forecasts of higher temperatures are coming at a time when demand usually drops due to mild weather and stockpiles rebuild."

12:13 GBP: Jobs data won't dent hawkish BoE – ING
We've just seen the release of UK jobs data for August. Unlike in the US, where the 'solid' labour market crumbled this summer, payrolled job losses were only a modest 8k in August.

We've just seen the release of UK jobs data for August. Unlike in the US, where the 'solid' labour market crumbled this summer, payrolled job losses were only a modest 8k in August. And there were no surprises in the earnings data, which remains at 4.7/4.8% YoY, ING's FX analyst Chris Turner notes, ING's FX analyst Chris Turner notes.GBP/USD is edging higher today "As our UK economist, James Smith, notes, 'Today's data doesn't change a huge amount for the BoE. Many economists were surprised by how little emphasis the Bank seemed to put on the cooler jobs market in its August meeting. So barring a surprise spike in job losses, today's data was never likely to move the needle too much.""We get inflation data tomorrow, where services inflation is likely to dip (though perhaps not quite as much as consensus expects). We're still narrowly favouring a November rate cut but a surprise spike in inflation tomorrow (one that's not driven by volatile categories) would probably change our mind on that."GBP/USD is edging higher today on the presumption that the BoE can hold its hawkish position for longer. And barring a big downside shock to tomorrow's August CPI data, we think Thursday's BoE event risk could be sterling positive too. We've got a year-end target for GBP/USD at 1.38, which could be met a little sooner."

12:08 ECB’s Scicluna: There is no cut already in a box and waiting to be unpacked
European Central Bank (ECB) policymaker and Central Bank of Malta Governor Edward Scicluna said on Tuesday, “there is no cut already in a box and waiting to be unpacked.”

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

12:05 Oil holds steady – ING
Oil prices are trading almost flat this morning as the market has been caught between escalating geopolitical tensions and not particularly supportive fundamentals, ING's commodity experts Ewa Manthey and Warren Patterson note.

Oil prices are trading almost flat this morning as the market has been caught between escalating geopolitical tensions and not particularly supportive fundamentals, ING's commodity experts Ewa Manthey and Warren Patterson note.Oil loadings at Russia’s Primorsk Port have resumed"The market participants are waiting for any further developments regarding the potential of further Western sanctions on Russian supplies against a looming supply surplus expectation. There are suggestions that the European Union is considering sanctions on companies in India and China that enable Russia’s oil trade as part of an upcoming package of fresh restrictions." "Meanwhile, recent reports suggest that oil loadings at Russia’s Primorsk Port have resumed after Friday’s drone attacks on the facility by Ukraine."

12:03 AUD/USD: Unlikely to reach 0.6700 – UOB Group
Australian Dollar (AUD) is likely to continue to edge higher, but it is unlikely to reach 0.6700. In the longer run, the price action continues to suggest a higher AUD; the next level to watch is 0.6700, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Australian Dollar (AUD) is likely to continue to edge higher, but it is unlikely to reach 0.6700. In the longer run, the price action continues to suggest a higher AUD; the next level to watch is 0.6700, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. Price action continues to suggest a higher AU24-HOUR VIEW: "We expected AUD to 'consolidate in a range between 0.6625 and 0.6665' yesterday. Instead of consolidating, AUD edged up to a high of 0.6674. Although upward momentum has not increased significantly, AUD is likely to continue to edge higher. However, based on the current momentum, AUD is unlikely to reach the major resistance at 0.6700 (there is another resistance level at 0.6685). Support levels are at 0.6660 and 0.6645." 1-3 WEEKS VIEW: "We have maintained a positive AUD view since early last week (see annotations in the chart below). In our latest narrative from last Friday (12 Sep, spot at 0.6665), we highlighted that the recent 'price action continues to suggest a higher AUD, and the next level to watch is 0.6700.' We will maintain our view as long as 0.6625 (‘strong support’ level, previously at 0.6590) is not breached."

12:02 Dow Jones futures remain steady ahead of US Retail Sales data
Dow Jones futures are steady near 45,900 during European hours on Tuesday, ahead of the United States (US) market open. Moreover, the S&P 500 futures advance 0.20% to trade above 6,600, while Nasdaq 100 futures edge up 0.32% to trade near 24,400.

12:01 Eurozone Industrial Production w.d.a. (YoY) came in at 1.8%, above forecasts (1.7%) in July
Eurozone Industrial Production w.d.a. (YoY) came in at 1.8%, above forecasts (1.7%) in July

12:01 Eurozone Industrial Production s.a. (MoM) below forecasts (0.4%) in July: Actual (0.3%)
Eurozone Industrial Production s.a. (MoM) below forecasts (0.4%) in July: Actual (0.3%)

12:01 Eurozone ZEW Survey – Economic Sentiment above forecasts (20.3) in September: Actual (26.1)
Eurozone ZEW Survey – Economic Sentiment above forecasts (20.3) in September: Actual (26.1)

12:01 Germany ZEW Survey – Economic Sentiment registered at 37.3 above expectations (27.3) in September
Germany ZEW Survey – Economic Sentiment registered at 37.3 above expectations (27.3) in September

12:01 Germany ZEW Survey – Current Situation registered at -76.4, below expectations (-75) in September
Germany ZEW Survey – Current Situation registered at -76.4, below expectations (-75) in September

12:01 NZD/USD Price Forecast: Maintains its bullish stance despite rejection at 0.5980
The New Zealand Dollar has failed on its attempt to break the 0.5980 resistance area (September 11 high) earlier on Tuesday, but maintains its broader bullish trend intact amid the risk-on mood, with investors bracing for a Fed monetary easing on WednesdayThe US Dollar is trading lower across the bo

12:00 Eurozone Labor Cost Index registered at 3.6%, below expectations (3.7%) in 2Q
Eurozone Labor Cost Index registered at 3.6%, below expectations (3.7%) in 2Q

11:59 USD/CAD stalls below key 1.3920 resistance – Société Générale
USD/CAD is struggling to clear the August high at 1.3920, signaling fading upside momentum. A sustained failure to break this level keeps risks skewed lower, with 1.3720 pivotal for the next move, Société Générale's FX analysts note.

USD/CAD is struggling to clear the August high at 1.3920, signaling fading upside momentum. A sustained failure to break this level keeps risks skewed lower, with 1.3720 pivotal for the next move, Société Générale's FX analysts note. Pair hovers near 50-DMA amid fading momentum"USD/CAD has struggled to overcome the August high of 1.3920, underscoring a lack of consistent upward momentum. The pair is currently hovering around the 50-DMA. While a brief rebound cannot be ruled out, failure to surpass the 1.3920 resistance may result in a continued decline toward the recent pivot low at 1.3720." "Should USD/CAD break this support, the downward move could extend further, with next targets at projections of 1.3600/1.3535."

11:56 GBP/USD: Any advance is unlikely to reach 1.3660 – UOB Group
Further Pound Sterling (GBP) strength appears likely; any advance is unlikely to reach 1.3660. In the longer run, price action suggests GBP could rise to 1.3635, potentially reaching 1.3660, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Further Pound Sterling (GBP) strength appears likely; any advance is unlikely to reach 1.3660. In the longer run, price action suggests GBP could rise to 1.3635, potentially reaching 1.3660, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. Price action suggests GBP might potentially reach 1.36624-HOUR VIEW: "Our view of sideways trading yesterday was incorrect, as GBP rose sharply and closed at 1.3599, up 0.36%. Further GBP strength appears likely, even though, based on the current momentum, any advance is unlikely to reach 1.3660 today. Note that there is another resistance level at 1.3630. On the downside, support levels are at 1.3585 and 1.3570." 1-3 WEEKS VIEW: "The following are excerpts from our update last Friday (12 Sep, spot at 1.3575): 'There has been a slight increase in upward momentum, but it is not sufficient to indicate a sustained rise just yet. GBP must break and hold above 1.3595 before a move toward 1.3635 can be expected. The odds of a clear break above 1.3595 are not high, but they will remain intact as long as the ‘strong support’ level at 1.3510 is not breached.” Yesterday, GBP rose to a high of 1.3621 and then closed at 1.3599 (+0.36%). The price action suggests GBP could rise to 1.3635, potentially reaching 1.3660. The ‘strong support’ level is now at 1.3545 instead of 1.3510."

11:50 EUR/USD eyes another test of 1.18 – Commerzbank
EUR/USD remains near the upper end of its three-month trading range, with another test of 1.18 possible today. Despite a recent spike, implied volatility has retreated, underscoring calmer market conditions, Commerzbank's FX analyst Michael Pfister notes.

EUR/USD remains near the upper end of its three-month trading range, with another test of 1.18 possible today. Despite a recent spike, implied volatility has retreated, underscoring calmer market conditions, Commerzbank's FX analyst Michael Pfister notes. EUR/USD seems to be struggling to break above 1.18"Last week, I discussed the possible factors that could push EUR/USD back above 1.18 in detail here. However, the fact that it feels like we have been trading within a fairly narrow range for the last three months must also be put into perspective. While it is true that EUR/USD seems to be struggling to break through the 1.18 level on a sustained basis, we could still make another attempt today." "Nevertheless, the exchange rate is currently trading close to the upper end of the last three months' trading range (the high was at the beginning of July). It is also true that implied volatility is trading close to the lower end of this range, but it should be noted that it almost reached its high two weeks ago, shortly before the US labour market report." "The fact that this volatility did not materialise in the end is likely one of the reasons why it has fallen again in recent weeks. So context is everything."

11:48 EUR/USD: Clear break above 1.1790 might shift the focus to 1.1830 – UOB Group
Upward momentum is starting to build; the odds of Euro (EUR) breaking above 1.1790 are increasing, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Upward momentum is starting to build; the odds of Euro (EUR) breaking above 1.1790 are increasing, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. EUR might move towards 1.183024-HOUR VIEW: "EUR traded in a quiet manner between 1.1700 and 1.1747 last Friday. Yesterday, we indicated that 'momentum indicators are mostly flat, and EUR is likely to continue to range-trade today, probably in a range of 1.1705/1.1755.' We did not anticipate the rapid build-up in momentum that led to EUR rising to a high of 1.1774. The buildup in momentum is likely to continue to carry EUR higher. That said, it is unclear for now whether there is sufficient momentum for EUR to break above the major resistance at 1.1790. To sustain the momentum build-up, EUR must hold above 1.1735, with minor support at 1.1750." 1-3 WEEKS VIEW: "We highlighted last Monday (08 Sep, spot at 1.1715) that EUR 'could rise but any advance is likely part of a higher range of 1.1650/1.1790.' Since then, EUR has been trading within a range of 1.1661/1.1779. Yesterday, EUR rose to 1.1774 and then closed on a firm note at 1.1760 (+0.23%). Upward momentum is starting to build, and the odds of EUR breaking above 1.1790 are increasing and will continue to increase as long as EUR holds above 1.1715 (‘strong support’ level). Looking ahead, a clear break above 1.1790 will shift the focus to 1.1830."

11:42 Gold approaches $3,700/oz – ING
Gold extended its rally to another fresh record high while Copper prices jumped to their highest level since June 2024, as market participants geared up for a potential easing of US Federal Reserve policy and wait for further rate cut signals this year, ING's commodity experts Ewa Manthey and Warren

Gold extended its rally to another fresh record high while Copper prices jumped to their highest level since June 2024, as market participants geared up for a potential easing of US Federal Reserve policy and wait for further rate cut signals this year, ING's commodity experts Ewa Manthey and Warren Patterson note.Chile expects Copper production to grow this year and next"Investors expect a quarter-point rate cut this week amid signs of a weaker labour market. Swap markets also price in at least one more cut by the end of the year, with a strong chance of a third." "These expectations have pushed Treasury yields to multi-month lows and weakened the dollar index. Continued concerns over the Fed’s independence will also remain the focus for the global market looking ahead. Gold prices have surged more than 40% so far this year amid Trump’s aggressive trade policy, conflicts in the Middle East and Ukraine, and central bank buying.""As for Copper, recent reports suggest that Chile expects production to grow this year and next, targeting a record 6 million tons by 2027, despite setbacks at two major mines (Codelco’s and Teck Resources Ltd.), offering some relief to a tight global market. Operational disruption at major mines poses hurdles to achieving its annual Copper output target of around 5.6mt. However, BHP’s Escondida mine boosted production in the first half of the year (+11% YoY), Collahuasi is recovering from a period of low-quality ore, and the EI Salvador mine is beginning to ramp up output."

11:40 EUR: Living with French political instability – ING
Political instability and missed fiscal targets are raising doubts about France’s ability to meet EU rules and avoid further rating downgrades. The path ahead looks highly uncertain, ING's FX analyst Chris Turner notes.

Political instability and missed fiscal targets are raising doubts about France’s ability to meet EU rules and avoid further rating downgrades. The path ahead looks highly uncertain, ING's FX analyst Chris Turner notes.Rate spreads remain EUR/USD supportive"However, sovereign upgrades for Spain and Portugal are offsetting the French news, and the global glass-half-full environment is keeping the euro bid. EUR/USD is pretty close to resistance at 1.1800/1830 now. The most likely trigger for a breakout would be tomorrow night's Fed – but let's see if it happens earlier.""In the eurozone today, we'll receive updates on the ZEW investor sentiment surveys. These might nudge higher on the back of the positive equity environment seen this summer, but look unlikely to be a market mover. But rate spreads remain EUR/USD supportive as the market increasingly concludes that the ECB is done cutting at 2.00%, while the Fed has another 125-150bp of easing to deliver."

11:20 US Dollar Index Price Forecast: Drops to near 97.00 as bearish bias strengthens
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its losses for the second consecutive session and trading around 97.10 during the European hours on Tuesday.

11:19 USD/CHF slumps to near 0.7900 as Fed dovish bets weigh on US Dollar
The USD/CHF pair falls sharply to near 0.7915 during the European trading session on Tuesday.

11:00 Silver Price Forecast: XAG/USD is pushing against $42.75 highs amid US Dollar’s weakness
Silver’s (XAG/USD) is trying to break all-time highs at $42.75 on Tuesday’s Early European session, favoured by broad-based US Dollar weakness, as the market braces for a “dovish cut” at the end of a two-day Fed monetary policy meeting on Wednesday.Precious metals have been thriving in recent days w

11:00 Italy Consumer Price Index (YoY) meets expectations (1.6%) in August
Italy Consumer Price Index (YoY) meets expectations (1.6%) in August

11:00 Italy Consumer Price Index (MoM) in line with expectations (0.1%) in August
Italy Consumer Price Index (MoM) in line with expectations (0.1%) in August

11:00 Italy Consumer Price Index (EU Norm) (YoY) below expectations (1.7%) in August: Actual (1.6%)
Italy Consumer Price Index (EU Norm) (YoY) below expectations (1.7%) in August: Actual (1.6%)

11:00 Italy Consumer Price Index (EU Norm) (MoM) in line with expectations (-0.2%) in August
Italy Consumer Price Index (EU Norm) (MoM) in line with expectations (-0.2%) in August

11:00 Canada CPI expected to edge higher in August ahead of BoC rate cut decision
Statistics Canada will publish August’s inflation figures on Tuesday. The numbers will give the Bank of Canada (BoC) a fresh read on price pressure as the central bank weighs its next move on interest rates. The BoC is expected to trim the interest rate by 25 basis points to 2.50% on Wednesday.

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The numbers will give the Bank of Canada (BoC) a fresh read on price pressure as the central bank weighs its next move on interest rates. The BoC is expected to trim the interest rate by 25 basis points to 2.50% on Wednesday. Economists expect the headline Consumer Price Index (CPI) to slightly surpass the BoC’s 2.0% target in August, following a 1.7% annual gain in July. On a monthly basis, prices are still forecast to climb 0.1%.The BoC will also be watching its preferred “core” measure, which strips out the more volatile food and energy components. In July, that gauge rose 2.6% from a year earlier and edged 0.1% higher from June.While there are signs inflation is cooling, analysts remain wary. The threat of US tariffs pushing up domestic prices looms large, adding uncertainty to the outlook. For the time being, both markets and policymakers are likely to exercise caution.What can we expect from Canada’s inflation rate?The Bank of Canada kept its benchmark rate at 2.75% on July 30, a decision that lined up with market expectations.Governor Tiff Macklem explained that the pause reflected lingering stickiness in inflation. The bank’s preferred core gauges, the trim mean and trim median, have been hovering near 3%, with a wider set of indicators also ticking higher. That shift, he admitted, has caught policymakers’ eyes and will be monitored closely in the months ahead.Still, Macklem was keen to stress that not all of the recent price pressure will last. A firmer Canadian Dollar, slower wage growth, and an economy running below potential should all help ease inflation over time.For markets, the headline CPI print will be the immediate focus. But at the BoC, attention will remain squarely on the details: the trim, median and common measures. The first two have picked up speed, feeding concern inside the bank, while the common gauge has stayed more restrained.When is the Canada CPI data due, and how could it affect USD/CAD?Markets will be watching closely on Tuesday at 12:30 GMT, when Statistics Canada publishes the inflation report for the month of August. Traders are alert to the risk that price pressures could flare up again.A stronger-than-expected reading would reinforce concerns that tariff-related costs are beginning to filter through to consumers. That could make the Bank of Canada more cautious in its policy stance, a scenario that would likely lend short-term support to the Canadian Dollar (CAD), while keeping attention fixed on trade developments.According to FXStreet’s Senior Analyst, Pablo Piovano, the Canadian Dollar (CAD) has been trading in a consolidative range against the US Dollar (USD) in the last few days, with USD/CAD orbiting the 1.3850 zone. He notes that renewed selling could see the pair drift back toward the August floor in the 1.3730-1.3720 band. Further support sits at the weekly base at 1.3575 (July 23) and the June valley at 1.3556 (July 3), before reaching the year’s bottom at 1.3538 (June 16).On the topside, resistance is pegged at the August top at 1.3924 (August 22), followed by the 1.4000 round level, with the May ceiling at 1.4015 (May 13) being reinforced by the 200-day Simple Moving Average (SMA).From a broader perspective, Piovano argues that the bearish bias stays intact as long as spot trades beneath its 200-day SMA.That said, momentum signals remain mixed: the Relative Strength Index (RSI) has eased toward 55, hinting at waning upside momentum, while the Average Directional Index (ADX) near 18 suggests that the broader trend is only slowly building strength. Economic Indicator BoC Interest Rate Decision The Bank of Canada (BoC) announces its interest rate decision at the end of its eight scheduled meetings per year. If the BoC believes inflation will be above target (hawkish), it will raise interest rates in order to bring it down. This is bullish for the CAD since higher interest rates attract greater inflows of foreign capital. Likewise, if the BoC sees inflation falling below target (dovish) it will lower interest rates in order to give the Canadian economy a boost in the hope inflation will rise back up. This is bearish for CAD since it detracts from foreign capital flowing into the country. Read more. Last release: Wed Jul 30, 2025 13:45 Frequency: Irregular Actual: 2.75% Consensus: 2.75% Previous: 2.75% Source: Bank of Canada Economic Indicator BoC Consumer Price Index Core (YoY) The BoC Consumer Price Index Core, released by the Bank of Canada (BoC) on a monthly basis, represents changes in prices for Canadian consumers by comparing the cost of a fixed basket of goods and services. It is considered a measure of underlying inflation as it excludes eight of the most-volatile components: fruits, vegetables, gasoline, fuel oil, natural gas, mortgage interest, intercity transportation and tobacco products. The YoY reading compares prices in the reference month to the same month a year earlier. Generally, a high reading is seen as bullish for the Canadian Dollar (CAD), while a low reading is seen as bearish. Read more. Next release: Tue Sep 16, 2025 12:30 Frequency: Monthly Consensus: - Previous: 2.6% Source: Statistics Canada

10:54 Forex Today: US Dollar remains weak pre-Fed, Gold hits new record-high
Here is what you need to know on Tuesday, September 16:

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In the second half of the day, August Retail Sales, Import Price Index and Export Price Index data will be featured in the US economic calendar. US Dollar Price This week The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the weakest against the British Pound. USD EUR GBP JPY CAD AUD NZD CHF USD -0.54% -0.59% -0.53% -0.51% -0.35% -0.38% -0.56% EUR 0.54% -0.03% -0.05% 0.03% 0.22% 0.12% -0.03% GBP 0.59% 0.03% 0.04% 0.05% 0.25% 0.14% -0.12% JPY 0.53% 0.05% -0.04% 0.00% 0.24% 0.15% -0.02% CAD 0.51% -0.03% -0.05% -0.00% 0.27% 0.09% -0.17% AUD 0.35% -0.22% -0.25% -0.24% -0.27% -0.11% -0.29% NZD 0.38% -0.12% -0.14% -0.15% -0.09% 0.11% -0.26% CHF 0.56% 0.03% 0.12% 0.02% 0.17% 0.29% 0.26% 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 Index closed in negative territory on Monday, pressured by the improving risk mood in the American session. Wall Street's main indexes opened on a bullish noted and closed in positive territory. Early Tuesday, the USD Index continues to push lower and was last seen trading at its lowest level in over two months, slightly above 97.00. Meanwhile, US stock index futures trade mixed. Related news Global rally extends into Fed decision [Video] Fed decision in focus – Stocks at all-time highs, US and Canadian data eyed US Dollar forecast: 25bps cut drags USD to further downside [Video] The UK's Office for National Statistics (ONS) reported in the European morning that the ILO Unemployment Rate remained unchanged at 4.7% in the three months to July, as anticipated. In this period, annual wage inflation, as measured by the change in the Average Earnings Excluding Bonus, edged lower to 4.8% from 5% to match the market expectation. GBP/USD builds on Monday's gains and was last seen trading above 1.3620. The ONS will publish August inflation data on Wednesday.EUR/USD benefits from the broad-based USD weakness and rises toward 1.1800 in the European morning on Tuesday. Later in the session, ZEW Survey - Economic Sentiment data for Germany and the Eurozone, and July Industrial Production data for the Euro area will be watched closely by market participants.After losing nearly 0.5% on Monday, USD/CAD edges lower and trades below 1.3800 in the European session on Tuesday. In the early American session, Statistics Canada will publish Consumer Price Index (CPI) data for August. On Wednesday, the Bank of Canada (BoC) will announce policy decisions.USD/JPY turns south in the European morning and trades below 147.00. In the early Asian session, the Japanese economic calendar will feature Merchandise Trade Balance data for August.Following a quiet start to the week, Gold gathered bullish momentum in the second half of the day on Monday and rose nearly 1%. XAU/USD continues to push higher and trades at a new record-high above $3,680 in the European session on Tuesday. Fed FAQs What does the Federal Reserve do, how does it impact the US Dollar? Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback. How often does the Fed hold monetary policy meetings? The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions. The FOMC is attended by twelve Fed officials – the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis. What is Quantitative Easing (QE) and how does it impact USD? In extreme situations, the Federal Reserve may resort to a policy named 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 during crises or when inflation is extremely low. It was the Fed’s weapon of choice during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy high grade bonds from financial institutions. QE usually weakens the US Dollar. What is Quantitative Tightening (QT) and how does it impact the US Dollar? Quantitative tightening (QT) is the reverse process of QE, whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing, to purchase new bonds. It is usually positive for the value of the US Dollar.

10:43 EUR/JPY pulls back toward 173.00 ahead of German ZEW Survey Economic Sentiment
EUR/JPY depreciates after three days of gains, trading around 173.10 during the early European hours on Tuesday. Traders await seasonally adjusted Eurozone Industrial Production figures for July and German ZEW Survey Economic Sentiment data for September.

10:39 When is the German ZEW survey and how could it affect EUR/USD?
The ZEW will release its German Economic Sentiment Index and the Current Situation Index at 0900 GMT in the EU session later this Tuesday, reflecting institutional investors’ opinions for the next six months.

10:28 EUR/GBP keeps hesitating around 0.8650 following UK employment data
The Euro ticked up on Tuesday’s early European session following better-than-expected UK employment figures.

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The Euro ticked up on Tuesday’s early European session following better-than-expected UK employment figures. The pair, however, remains trading sideways without a clear bias, consolidating losses between 0.8635 and 0.8665 following a reversal from early September highs above 0.8700.

Data released by National Statistics on Tuesday revealed that the UK Claimant Count Change increased by 17.4K in August, following a 33.3K decline in July, yet below market expectations of a 20K increment.

Beyond that, net employment rose by 232K, following July’s 239K and beating expectations of a 22K increase. The ILO Unemployment rate remained steady at 4.7% and wage growth moderated to a 4.8% yearly rate in the three months to July, from the previous 5% level.These figures hardly change investors’ expectations that the Bank of England will keep its benchmark Repo Rate on hold after Thursday’s meeting, before a further quarter-point cut later in the year.From a technical perspective, the immediate bias remains bearish, with the mentioned 0.8635 (September 10,15 lows) providing support ahead of the mid and late-August lows at the 0.8600-0.8610 area. Upside attempts are limited to 0.8665 (September 10,11 highs). Economic Indicator Claimant Count Change The Claimant Count Change released by the UK Office for National Statistics presents the change in the number of unemployed people in the UK claiming benefits. There is a tendency for the metric to influence GBP volatility. Usually, a rise in the indicator has negative implications for consumer spending and economic growth. Generally, a high reading is seen as bearish for the Pound Sterling (GBP), while a low reading is seen as bullish. Read more. Last release: Tue Sep 16, 2025 06:00 Frequency: Monthly Actual: 17.4K Consensus: 20.3K Previous: -6.2K Source: Office for National Statistics Why it matters to traders? The change in the number of those claiming jobless benefits is an early gauge of the UK’s labor market. The figures are released for the previous month, contrary to the Unemployment Rate, which is for the prior one. This release is scheduled around the middle of the month. An increase in applications is a sign of a worsening economic situation and implies looser monetary policy, while a decrease indicates improving conditions. A higher-than-expected outcome tends to be GBP-bearish. Economic Indicator Employment Change (3M) Employment Change released by the UK Office for National Statistics represents the change in the number of people who were employed in the UK in the three months to the release period. Generally, a healthy and consistent increase of this figure is seen as bullish for the Pound Sterling (GBP), while a decrease is seen as bearish. Read more. Next release: Tue Oct 14, 2025 06:00 Frequency: Monthly Consensus: - Previous: 232K Source: Office for National Statistics

10:23 Pound Sterling outperforms as UK employment data meets expectations
The Pound Sterling (GBP) attracts bids against its major peers on Tuesday, reaching its highest level in more than two months against the US Dollar, after the release of the United Kingdom (UK) labor market data for the three months ending July.

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The Office for National Statistics (ONS) reported that the Unemployment Rate remained steady at a four-year high of 4.7%, as economists had expected.The UK economy created fresh 232K jobs in the quarter ending July, very close to estimates of 220K and the prior reading of 239K. Meanwhile, Average Earnings excluding bonuses, a key measure of wage growth, rose at an annual pace of 4.8%, as expected, slower than the previous 5%. Average Earnings including bonuses, a closely tracked indicator by the Bank of England, also rose in line with expectations at 4.7%, higher than the previous reading of 4.6%.Steady employment conditions are expected to offer relief to Bank of England (BoE) officials, who had warned of growing labor market concerns. BoE Governor Andrew Bailey said earlier this month that he is “more concerned about downside job risks” than other Monetary Policy Committee (MPC) members who voted to keep rates on hold in the August monetary policy meeting.Investors brace for more volatility in the British currency this week as the Consumer Price Index (CPI) data for August and the BoE’s monetary policy announcement are scheduled for Wednesday and Thursday, respectively.The UK CPI report is expected to show that the headline inflation rose to 3.9% on an annual basis from 3.8%. Signs of inflationary pressures accelerating would boost hopes that the BoE will keep interest rates on hold at 4% on Thursday.Daily digest market movers: Pound Sterling strengthens against US DollarThe Pound Sterling jumps to near 1.3630 against the US Dollar (USD) during Tuesday’s European session after the release of the UK employment data. The strength in the GBP/USD pair is also driven by weakness in the US Dollar.During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, revisits a seven-week low near 97.00.The US Dollar faces selling pressure as traders are increasingly confident that the Federal Reserve (Fed) will cut interest rates on Wednesday. According to the CME FedWatch tool, there is a 96% chance that the Fed will reduce interest rates by 25 basis points (bps) to 4.00%-4.25%, while the rest support a bigger reduction of 50 bps.The reasoning behind firm Fed dovish speculation is growing downside United States (US) labor market risks . Lately, a majority of Federal Open Market Committee (FOMC) members, including Chair Jerome Powell, argued in favor of monetary policy expansion amidst slowing job demand.On Wednesday, investors will pay close attention to the monetary policy statement, the dot plot and Powell’s press conference to get cues about the monetary policy and the labor market outlook. Investors would also focus on cues regarding the impact of tariffs on inflation.In Tuesday’s session, investors will focus on the US Retail Sales data for August, which will be published at 12:30 GMT. Sales are expected to grow by 0.3% on a monthly basis, slower than the prior 0.5% increase.Technical Analysis: Pound Sterling breaks out from Ascending TriangleThe Pound Sterling climbs to near 1.3630 against the US Dollar on Tuesday. With the latest jump, the GBP/USD pair breaks out from an Ascending Triangle formation.The horizontal resistance of the above-mentioned chart pattern is plotted from the July 23 high around 1.3585, while the upward-sloping border is drawn from the August 1 low near 1.3140.A decisive breakout of the Ascending Triangle chart pattern could result in a fresh upside move.The near-term trend of the Cable remains bullish as it trades close to the 20-day Exponential Moving Average (EMA), which is around 1.3520.The 14-day Relative Strength Index (RSI) breaks above 60, indicating a strong upside momentum.Looking down, the August 1 low of 1.3140 will act as a key support zone. On the upside, the July 1 high near 1.3800 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.

10:10 EUR/USD crawls higher as the US Dollar drifts on risk appetite
EUR/USD appreciates for the fourth consecutive day on Tuesday.

.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-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-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a} .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 Euro is drawing support from a weaker US Dollar to test multi-week highs.Hopes of a dovish turn by the Fed are weighing heavily on the US Dollar.EUR/USD bulls are pushing against 1.1790, with the 1.1830 long-term high in focus.EUR/USD appreciates for the fourth consecutive day on Tuesday. The pair trades at 1.1775 at the time of writing, favoured by a risk-on mood as investors brace for, at least, a 25-basis-point (bps) interest rate cut by the Federal Reserve (Fed) on Wednesday and at least one more before the end of the year.

US President Donald Trump did not want to miss the opportunity of taking part in the event and called for a "bigger" rate cut on social media. This highlights the unprecedented political pressure, which is putting the central bank's ability to act independently into question.
The market, however, has been celebrating lower interest rates in anticipation. The US Dollar Index, which measures the value of the Greenback against six major currencies, has dropped to nearly two-month lows, and Wall Street indexes rose to fresh record highs. In this context, risk appetite has offset concerns about French debt, and the Euro (EUR) has risen higher.Later on the day, the Eurozone Industrial Production and the ZEW Economic Sentiment Index might test the Euro's strength. In the US, August's Retail Sales data might provide some fundamental guidance for the USD, but they are unlikely to alter the expectations of a Fed rate cut this Wednesday.
Euro Price Today The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Australian Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.18% -0.21% -0.19% -0.07% -0.00% 0.04% -0.17% EUR 0.18% -0.02% -0.17% 0.11% 0.23% 0.20% 0.01% GBP 0.21% 0.02% -0.10% 0.14% 0.27% 0.23% 0.02% JPY 0.19% 0.17% 0.10% 0.23% 0.29% 0.08% 0.10% CAD 0.07% -0.11% -0.14% -0.23% 0.06% 0.06% -0.11% AUD 0.00% -0.23% -0.27% -0.29% -0.06% 0.06% -0.22% NZD -0.04% -0.20% -0.23% -0.08% -0.06% -0.06% -0.16% CHF 0.17% -0.01% -0.02% -0.10% 0.11% 0.22% 0.16% 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 Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote). Daily digest market movers: Hopes of lower interest rates are weighing on the US DollarThe US Dollar remains on its back foot as the market prices a quarter-point interest rate cut on Wednesday, coupled with a more dovish forward guidance. Investors are starting to think that the Fed is behind the curve and that it will be forced to accelerate its monetary easing cycle with a series of cuts over the next months.The US Senate has confirmed Trump's former economic advisor, Stephen Miran, as Fed Governor, which grants the US president a dove loyalist on the board from this meeting on.Fed Governor Lisa Cook will also be on the board at the upcoming two-day meeting, as the Federal Appeals Court has blocked President Trump's bid to fire her on an alleged mortgage fraud.Technical Analysis: EUR/USD rallies to the 1.1790 resistance areaEUR/USD continues to head north, as US Dollar weakness weighs more than the Eurozone's domestic issues, at least for now. Technical indicators show a solid bullish momentum, with the Relative Strength Index (RSI) at 66 on the 4-hour chart.Bulls are attempting to break the July 24 high at 1.1790 at the time of writing, the last hurdle before the July 1 high at 1.1830. Further up, a trend-based Fibonacci tool shows the 161.8% extension at 1.1875.To the downside, a previous resistance is now acting as support at the 1.1750 area ahead of the September 12 low near 1.1700, and the ascending channel's bottom, now around 1.1690. Below here, the September 11 low near 1.1660 would come into view. 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.

09:55 ECB’s Kazaks: Reduction in rates is already very significant
In an interview with TV24 on Tuesday, European Central Bank (ECB) policymaker Martins Kazaks said that the “reduction in ECB rates is already very significant.”

09:09 ECB’s Villeroy: We "seriously" have to tackle France’s debt problem
European Central Bank (ECB) policymaker Francois Villeroy de Galhau made some comments on the French fiscal and economic outlook on Tuesday.

09:05 United Kingdom Claimant Count Rate unchanged at 4.4% in August
United Kingdom Claimant Count Rate unchanged at 4.4% in August

09:03 Crude Oil price today: WTI price bullish at European opening
West Texas Intermediate (WTI) Oil price advances on Tuesday, early in the European session. WTI trades at $63.19 per barrel, up from Monday’s close at $63.04.Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $67.19 price posted on Monday, and trading at $67.28.

09:00 United Kingdom Average Earnings Excluding Bonus (3Mo/Yr) in line with forecasts (4.8%) in July
United Kingdom Average Earnings Excluding Bonus (3Mo/Yr) in line with forecasts (4.8%) in July

09:00 United Kingdom Average Earnings Including Bonus (3Mo/Yr) in line with expectations (4.7%) in July
United Kingdom Average Earnings Including Bonus (3Mo/Yr) in line with expectations (4.7%) in July

09:00 United Kingdom Employment Change (3M): 232K (July) vs previous 239K
United Kingdom Employment Change (3M): 232K (July) vs previous 239K

09:00 United Kingdom Claimant Count Change below expectations (20.3K) in August: Actual (17.4K)
United Kingdom Claimant Count Change below expectations (20.3K) in August: Actual (17.4K)

09:00 United Kingdom ILO Unemployment Rate (3M) meets forecasts (4.7%) in July
United Kingdom ILO Unemployment Rate (3M) meets forecasts (4.7%) in July

08:57 RBA's Hauser: AUD has been a well-functioning 'natural' hedge for global risk assets
Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser said on Tuesday, “the Australian Dollar (AUD) has been a well-functioning 'natural' hedge for global risk assets.”

08:48 USD/INR trades with mild volatility ahead of US-India trade talks
The Indian Rupee (INR) opens almost flat at around 88.30 against the US Dollar (USD) on Tuesday. The USD/INR pair is expected to face sharp volatility as top negotiators from India and the United States (US) are scheduled to discuss trade in New Delhi on Tuesday.

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The USD/INR pair is expected to face sharp volatility as top negotiators from India and the United States (US) are scheduled to discuss trade in New Delhi on Tuesday.Trade relations between India and the US have not been good in the past few months as President Donald Trump has criticized New Delhi for buying Oil from Russia, which he called that Moscow is utilizing the money for funding the war in Ukraine. Additionally, Trump also raised tariffs on India to 50%, making Indian products less competitive in global markets.Ahead of US-India trade discussions, Washington’s trade adviser Peter Navarro said in an interview with CNBC on Monday that India was "coming to the negotiating table". He also acknowledged the exchange of tweets between President Trump and India’s Prime Minister Narendra Modi happened last week, which signaled that both nations continue to negotiate on trade and expressed confidence that they will reach a deal soon."India is coming to the table. PM Modi sent out a very conciliatory, nice, constructive tweet, and President Trump responded to that. We'll see how this works,” Navarro.The confirmation of a trade truce between the US and India would be favorable for the Indian Rupee in times when the Asian giant is going through structural reforms to steadfast its domestic consumption. Earlier this month, the Indian government unveiled a new Goods and Services Tax (GST) bill in which tax slabs were brought down to two from four.Daily digest market movers: The Fed seems certain to cut interest rates on WednesdayThe USD/INR pair trades calmly around 88.30, even as the US Dollar faces selling pressure, suggesting a significant weakness in the Indian Rupee. During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.1% lower to near 97.20, the lowest level seen in three weeks.The US Dollar remains on the back foot as the Federal Reserve (Fed) is certain to start the monetary-easing cycle in its policy announcement on Wednesday. According to the CME FedWatch tool, there is a 96% chance that the Fed will reduce interest rates by 25 basis points (bps) to 4.00%-4.25%, while the rest support a bigger reduction of 50 bps.As the Fed is widely anticipated to reduce interest rates, the major trigger for the US Dollar will be the monetary policy statement and Chair Jerome Powell’s speech to get cues about the outlook of interest rates for the remainder of the year and the labor market.Fed dovish speculation has been intensified by escalating US labor market risks. Last week, Initial Jobless Claims data for the week ending September 5 showed that individuals claiming jobless benefits came in the highest in four years at 263K.In Tuesday’s session, investors will focus on the US Retail Sales data for August, which will be published at 12:30 GMT. The US Retail Sales data is expected to come in lower at 0.3% on a monthly basis, against the prior release of 0.5%.Meanwhile, the US Senate narrowly confirmed President Donald Trump’s chosen economic adviser Stephen Miran as a member of the Fed’s Board of Governors ahead of the policy decision. Miran was placed on the Fed’s board after member Adriana Kugler unexpectedly resigned in early August.Technical Analysis: USD/INR sees upside if RSI rebounds from 60.00The USD/INR pair trades flat around 88.30 in the opening session 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 88.03.The 14-day Relative Strength Index (RSI) falls to near 60.00. A fresh bullish momentum would emerge if the RSI rebounds from that level.Looking down, the 20-day will act as key support for the major. On the upside, the round figure of 89.00 would be the key 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.

08:46 NZD/USD wobbles near 0.5970, investors await Fed policy, NZ Q2 GDP data
The NZD/USD pair trades in a tight range around 0.5970 during the late Asian trading session on Tuesday.

08:27 GBP/JPY retreats from yearly high, holds above 200.00 ahead of UK CPI report
The GBP/JPY cross attracts some selling during the Asian session on Tuesday and for now, seems to have snapped a four-day winning streak to its highest level since July 2024, around the 200.75 region, touched the previous day.

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Spot prices, however, manage to hold above the 200.00 psychological mark as traders look forward to the UK consumer inflation figures for a fresh impetus ahead of the key central bank events.The UK Consumer Price Index (CPI) could offer critical insight into the trajectory of inflation and its wider implications on monetary policy. A stronger-than-expected CPI print could further reduce the odds for an immediate interest rate cut by the Bank of England (BoE), which is scheduled to announce its policy decision on Thursday. This, in turn, could provide a goodish lift to the British Pound (GBP) and assist the GBP/JPY cross to attract some dip-buyers at lower levels.Ahead of the key data, a broadly firmer Japanese Yen (JPY) exerts some downward pressure on spot prices. Despite domestic political turmoil, investors seem convinced that the Bank of Japan (BoJ) will stick to its policy normalization path, which, in turn, is seen as a key factor underpinning the JPY. That said, the uncertainty over the likely timing and the pace of rate hikes by the BoJ might cap gains for the JPY and help limit deeper losses for the GBP/JPY cross.Furthermore, the prevalent risk-on environment – as depicted by a generally positive mood around the equity markets – could offer some support to the currency pair. Hence, it will be prudent to wait for strong follow-through selling before confirming that the GBP/JPY cross has topped out in the near-term and positioning for any meaningful corrective decline. Economic Indicator Consumer Price Index (YoY) The United Kingdom (UK) Consumer Price Index (CPI), released by the Office for National Statistics on a monthly basis, is a measure of consumer price inflation – the rate at which the prices of goods and services bought by households rise or fall – produced to international standards. It is the inflation measure used in the government’s target. The YoY reading compares prices in the reference month to a year earlier. Generally, a high reading is seen as bullish for the Pound Sterling (GBP), while a low reading is seen as bearish. Read more. Next release: Wed Sep 17, 2025 06:00 Frequency: Monthly Consensus: 3.9% Previous: 3.8% Source: Office for National Statistics Why it matters to traders? The Bank of England is tasked with keeping inflation, as measured by the headline Consumer Price Index (CPI) at around 2%, giving the monthly release its importance. An increase in inflation implies a quicker and sooner increase of interest rates or the reduction of bond-buying by the BOE, which means squeezing the supply of pounds. Conversely, a drop in the pace of price rises indicates looser monetary policy. A higher-than-expected result tends to be GBP bullish.

08:27 EUR/USD surges toward 1.1800 ahead of economic data from Eurozone, Germany
EUR/USD extends its winning streak for the fourth consecutive session, trading around 1.1780 during the Asian hours on Tuesday.

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The pair appreciates as the Euro (EUR) gains ground ahead of seasonally adjusted Eurozone Industrial Production figures for July and German ZEW Survey Economic Sentiment data for September.The Euro draws support against its peers from hawkish European Central Bank (ECB) commentary. European Central Bank (ECB) board member Isabel Schnabel said on Tuesday that interest rates in the Eurozone are in a good place and added that upside risks to inflation continue to dominate. Schnabel said the growth is likely to exceed the potential, with domestic demand counteracting falling exports.ECB policymaker Peter Kazimir said Monday that policy should not be adjusted over “small deviations” from the inflation target, while warning of upside risks to inflation. Kazimir added that interest rates have been brought into neutral territory.The EUR/USD pair advanced as the US Dollar (USD) weakened on rising expectations that the Federal Reserve (Fed) will cut rates by 25 basis points at its September meeting on Wednesday. Markets are also assigning a slim probability to a larger 50-basis-point cut, while pricing in continued easing through 2026 to counter the risk of recession.Traders will likely observe the Fed’s Summary of Economic Projections (SEP), the ‘dot plot,’ where each member of the Federal Open Market Committee (FOMC) expects the federal funds rate in the near future. 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.

07:37 Silver Price Forecast: XAG/USD consolidates above $42.50, highest since September 2011
Silver (XAG/USD) enters a bullish consolidation phase near its highest level since September 2011 and oscillates in a range, just above mid-$42.00s during the Asian session on Tuesday.

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 10,431.45 Indian Rupees (INR) per gram, up compared with the INR 10,414.78 it cost on Monday. The price for Gold increased to INR 121,669.00 per tola from INR 121,475.90 per tola a day earlier. Unit measure Gold Price in INR 1 Gram 10,431.45 10 Grams 104,313.30 Tola 121,669.00 Troy Ounce 324,454.60 2025 Gold Forecast Guide [PDF] Download your free copy of the 2025 Gold Forecast Daily Digest Market Movers: Gold continues to draw support from dovish Fed-inspired USD weakness and geopolitical risks The XAU/USD bulls pause for a breather during the Asian session on Tuesday following the recent blowout rally to a fresh all-time high and ahead of the key central bank event risks. The downside for the XAU/USD pair, however, remains cushioned amid a supportive fundamental backdrop. Traders ramped up their bets for a more aggressive policy easing by the Federal Reserve following the release of a weaker US Nonfarm Payrolls (NFP) report for August. According to the CME Group's FedWatch Tool, the US central bank is expected to lower borrowing costs three times this year. The US Senate voted to confirm US President Donald Trump's aide, Stephen Miran, to join the Fed's Board of Governors. The decision came as a US federal appeals court ruling that Trump cannot fire Fed Governor Lisa Cook, and ahead of a two-day FOMC meeting due to begin this Tuesday. Meanwhile, the dovish outlook leads to an extension of the recent US Dollar (USD) downfall to its lowest level since July 24 and should continue to act as a tailwind for the non-yielding Gold. Apart from this, the intensifying Russia-Ukraine conflict could limit losses for the safe-haven commodity. Russian forces launched a massive attack on Ukraine’s southeastern city of Zaporizhzhia, following a series of strikes by the latter against its oil infrastructure in recent weeks. Moreover, Trump has repeatedly threatened tougher measures against Russia, keeping geopolitical risks in play. An emergency summit of Arab and Islamic country leaders has condemned Israel’s attack on Hamas leaders in Doha, Qatar's capital, on September 9. A joint statement from the summit urged member states to coordinate efforts aimed at suspending Israel's membership in the United Nations. Tuesday's release of the US monthly Retail Sales figures and Industrial Production data might do little to provide any impetus. Traders this week will also scrutinize monetary policy updates from the Bank of Canada on Wednesday, the Bank of England on Thursday, and the Bank of Japan on Friday. 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 Japan Tertiary Industry Index (MoM) above forecasts (0.2%) in July: Actual (0.5%)
Japan Tertiary Industry Index (MoM) above forecasts (0.2%) in July: Actual (0.5%)

07:29 FX option expiries for Sept 16 NY cut
FX option expiries for Sept 16 NY cut at 10:00 Eastern Time via DTCC can be found below.

FX option expiries for Sept 16 NY cut at 10:00 Eastern Time via DTCC can be found below.EUR/USD: EUR amounts1.1710 916m1.1715 1.1b1.1750 1.9b1.1760 1.5b1.1800 2b1.1900 860mUSD/JPY: USD amounts 146.00 1.4b147.00 829m149.00 694m150.00 1.5bAUD/USD: AUD amounts0.6600 677mUSD/CAD: USD amounts 1.3900 503m

07:04 When is the UK Jobs Report and how could it affect GBP/USD?
The United Kingdom (UK) docket has the labor market report to be released by the Office for National Statistics (ONS) on Tuesday, later this session at 06:00 GMT.

06:58 Gold sits near record high as Fed rate cut bets keep USD depressed
Gold (XAU/USD) retreats slightly after touching a fresh record high, around the $3,689-3,690 region during the Asian session on Tuesday, amid some repositioning trade ahead of key central bank events.

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The US Federal Reserve (Fed) will announce its decision at the end of a two-day meeting on Wednesday and is expected to lower borrowing costs by 25-basis-point (bps) amid signs of a softening job market. The focus, however, will be on updated economic projections and Fed Chair Jerome Powell's tone at the post-meeting press conference. Investors will look for cues about the Fed's rate-cut path, which, in turn, will influence the US Dollar (USD) price dynamics and provide a fresh directional impetus to the non-yielding yellow metal.Furthermore, the Bank of Canada (BoC) policy update on Wednesday, the Bank of England (BoE) rate decision on Thursday, and the outcome of a two-day Bank of Japan (BoJ) meeting on Friday should infuse volatility around the Gold price. Hence, the pullback could be attributed to some profit-taking following the recent parabolic rise and the risk-on mood, amid overbought conditions on the daily chart. Any meaningful corrective slide, however, seems elusive in the wake of rising geopolitical tensions, which might continue to act as a tailwind for the safe-haven bullion. Hence, it will be prudent to wait for strong follow-through selling before confirming that the XAU/USD pair has topped out ahead of the $3,700 round figure.Daily Digest Market Movers: Gold continues to draw support from dovish Fed-inspired USD weakness and geopolitical risksThe XAU/USD bulls pause for a breather during the Asian session on Tuesday following the recent blowout rally to a fresh all-time high and ahead of the key central bank event risks. The downside for the XAU/USD pair, however, remains cushioned amid a supportive fundamental backdrop.Traders ramped up their bets for a more aggressive policy easing by the Federal Reserve following the release of a weaker US Nonfarm Payrolls (NFP) report for August. According to the CME Group's FedWatch Tool, the US central bank is expected to lower borrowing costs three times this year.The US Senate voted to confirm US President Donald Trump's aide, Stephen Miran, to join the Fed's Board of Governors. The decision came as a US federal appeals court ruling that Trump cannot fire Fed Governor Lisa Cook, and ahead of a two-day FOMC meeting due to begin this Tuesday.Meanwhile, the dovish outlook leads to an extension of the recent US Dollar (USD) downfall to its lowest level since July 24 and should continue to act as a tailwind for the non-yielding Gold. Apart from this, the intensifying Russia-Ukraine conflict could limit losses for the safe-haven commodity.Russian forces launched a massive attack on Ukraine’s southeastern city of Zaporizhzhia, following a series of strikes by the latter against its oil infrastructure in recent weeks. Moreover, Trump has repeatedly threatened tougher measures against Russia, keeping geopolitical risks in play.An emergency summit of Arab and Islamic country leaders has condemned Israel’s attack on Hamas leaders in Doha, Qatar's capital, on September 9. A joint statement from the summit urged member states to coordinate efforts aimed at suspending Israel's membership in the United Nations.Tuesday's release of the US monthly Retail Sales figures and Industrial Production data might do little to provide any impetus. Traders this week will also scrutinize monetary policy updates from the Bank of Canada on Wednesday, the Bank of England on Thursday, and the Bank of Japan on Friday.Gold bullish flag breakout comes into play; overbought daily RSI warrants cautionThe overnight strong move up marked a fresh breakout through a bullish flag pattern. That said, the daily Relative Strength Index (RSI) is holding well above the 70.0 mark, pointing to extremely overbought conditions and warranting some caution before positioning for any further gains. This suggests that the XAU/USD pair might struggle to build on the momentum beyond the $3,700 round figure, which should now act as a key pivotal point.Meanwhile, any meaningful corrective slide is likely to attract fresh buyers and find decent support near the flag pattern breakout point, around the $3,645 region. However, some follow-through selling, leading to a subsequent fall below the $3,633 horizontal zone, could drag the Gold price to the $3,610-3,600 area. A convincing break below the latter could pave the way for deeper losses and expose the $3,500 psychological mark, with some intermediate support near the $3,562-3,560 region. 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.

06:14 US Dollar Index falls further to near 97.20 as Fed sets to cut interest rates
The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.1% lower to near 97.20 during the Asian trading session on Tuesday. This is the lowest level seen in three weeks.

.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 Index slides to near 97.20 as an interest rate cut from the Fed on Wednesday seems a done deal.Market experts believe that the Fed will deliver two more interest rate cuts this year.Investors await key US Retail Sales data for August.The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.1% lower to near 97.20 during the Asian trading session on Tuesday. This is the lowest level seen in three weeks.The US Dollar (USD) continues to face selling pressure as the Federal Reserve (Fed) is widely anticipated to start the monetary-easing campaign in its policy announcement on Wednesday. According to the CME FedWatch tool, traders have fully priced in an interest rate cut by the Fed on Wednesday. Lower interest rates by the Fed bode poorly for the US Dollar.Amid firm expectations that the Fed will bring interest rates down, investors will pay close attention to the monetary policy statement and Chair Jerome Powell’s press conference to get cues about the likely interest rate action in the remainder of the year.Analysts at Deutsche Bank have anticipated that the Fed will cut interest rates by 25 basis points (bps) in each of the remaining three policy meetings this year, indicating that borrowing rates will go lower to 3.50%-3.75%.On Monday, the United States (US) Senate narrowly confirmed President Donald Trump’s chosen economic adviser Stephen Miran as a member of the Fed’s Board of Governors ahead of the policy decision. Miran was placed in the replacement of Fed’s board after member Adriana Kugler unexpectedly resigned in early August.Additionally, the independence of the Fed has been preserved for now by a US appeals court, as they ruled against Trump’s termination of Governor Lisa Cook over mortgage allegations. US assets fell sharply after Trump fired Cook, which market experts saw as an attack on the Fed’s independence.In Tuesday’s session, investors will focus on the US Retail Sales data for August, which will be published at 12:30 GMT. The Retail Sales data is expected to have grown at a moderate pace of 0.3% on a monthly basis. 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.

06:08 USD/CAD remains subdued near 1.3750 due to rising Oil prices, weaker US Dollar
USD/CAD continues to lose ground after registering nearly 0.5% losses in the previous session, trading around 1.3770 during the Asian hours on Tuesday. The pair depreciates as the commodity-linked Canadian Dollar (CAD) could have received support from the improved Oil prices.

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The pair depreciates as the commodity-linked Canadian Dollar (CAD) could have received support from the improved Oil prices. WTI price received support after a potential supply disruption from Russia following Ukrainian drone attacks on its energy infrastructure and mounting US pressure on buyers of Russian crude.Markets are pricing in a 25-basis-point rate cut by the Bank of Canada (BoC) on Wednesday. Expectations for BoC easing have increased after data showed a loss of roughly 65,500 jobs in August and a rise in the unemployment rate to 7.1%. Traders will likely observe Canada’s Consumer Price Index (CPI) data due on Tuesday, which could influence the central bank’s policy outlook.The US Dollar (USD) depreciates against its peers as traders expect the US Federal Reserve (Fed) to lower rates by 25 basis points at its September meeting due on Wednesday. However, there remains a slight chance of a 50-basis-point cut, with markets factoring in continued easing through 2026 to help stave off a potential recession.Traders will also likely observe the Fed’s Summary of Economic Projections (SEP), the ‘dot plot,’ where each member of the Federal Open Market Committee (FOMC) expects the federal funds rate in the near future.Markets are broadly expecting the Fed to deliver three straight 25 basis-point interest rate cuts through the end of the year. Morgan Stanley and Deutsche Bank now expect the US central bank to deliver three rate cuts this year, after recent data pointed to easing inflation pressures. Both brokerage firms projected on Friday a 25-basis-point rate reduction at each of the Fed’s remaining meetings in September, October, and December, according to Reuters. 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.

06:00 South Korea Money Supply Growth: 6.4% (July) vs 5.4%
South Korea Money Supply Growth: 6.4% (July) vs 5.4%

05:27 Japan’s Kato: Will consider measures to raise pressure on Russia, coordinate with G7 countries
When asked about the US’ request to G7 for higher sanctions on India and China for buying Russian oil, Japanese Finance Minister Katsunobu Kato said, “Japan has pledged to comply with World Trade Organization (WTO) rules, but will consider measures to raise pressure on Russia and coordinate with G7

05:24 Japanese Yen consolidates against USD amid mixed cues, ahead of central bank events
The Japanese Yen (JPY) extends its sideways consolidative price move against a broadly weaker US Dollar (USD) through the Asian session on Tuesday as traders opt to wait for this week's key central bank events.

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The Federal Reserve (Fed) is scheduled to announce the outcome of a two-day meeting on Wednesday, and will be followed by the crucial Bank of Japan (BoJ) decision on Friday. In the meantime, the uncertainty over the likely timing and the pace of BoJ rate hikes, along with the prevalent risk-on mood, acts as a headwind for the safe-haven JPY.Any meaningful downside for the JPY, however, still seems elusive in the wake of the growing acceptance that the BoJ will stick to its policy normalization path. This marks a significant divergence in comparison to rising bets for a more aggressive easing by the Fed, which keeps the US Dollar depressed near its lowest level since July 24 and should contribute to capping the USD/JPY pair. Nevertheless, the fundamental backdrop seems tilted in favor of the JPY bulls and suggests that the path of least resistance for the currency pair remains to the downside.Japanese Yen bulls seem reluctant despite a supportive fundamental backdropThe Japanese Yen has been struggling for a firm near-term direction over the past week or so and oscillating in a range against its American counterpart amid ambiguity over the Bank of Japan rate hike decision. Japanese Prime Minister Shigeru Ishiba's resignation added a layer of uncertainty in the markets and could give the BoJ more reasons to go slow on interest rate hikes.Meanwhile, the US-Japan trade deal has removed some risks to domestic growth. The BoJ sees the development paving the way for steady progress toward the inflation target. Moreover, a tight labor market and optimistic economic outlook keep the door open for an imminent BoJ interest rate hike by the end of this year and offer some support to the JPY.Moreover, the current market pricing points to a nearly two full 25-basis-point rate hikes by July next year, which, in turn, warrants some caution before placing aggressive JPY bearish bets. Traders might also opt to wait on the sidelines ahead of the latest BoJ monetary policy update on Friday. This, along with a bearish US Dollar, should cap the USD/JPY pair.The USD Index (DXY), which tracks the Greenback against a basket of currencies, languishes near its lowest level since July 24 amid rising bets for a more aggressive policy easing by the US Federal Reserve. Traders ramped up their bets for three interest rate cuts by the Fed this year after the recent US macroeconomic data pointed to signs of a softening labor market.The US Senate voted to confirm Stephen Miran – one of US President Donald Trump’s top economic advisers – to join the Fed's powerful Board of Governors. Miran will now be voting on this week's interest rate decision. A federal appeals court ruled that Trump cannot fire Fed Governor Lisa Cook, who can participate in the pivotal two-day meeting starting Tuesday.On the geopolitical front, Trump said on Monday that a face-to-face meeting between Ukrainian President Volodymyr Zelenskyy and his Russian counterpart, Vladimir Putin, is difficult. This comes amid the intensifying Russia-Ukraine war and brewing Middle East tensions, which could further benefit the safe-haven JPY ahead of the key central bank events.Tuesday's US economic docket features the release of US monthly Retail Sales figures and Industrial Production data later during the North American session. The immediate market reaction is more likely to be muted as traders might refrain from placing aggressive directional bets and opt to wait for more cues about the central banks' policy outlook.USD/JPY needs to find acceptance below 147.00 to back the case for further lossesThe range-bound price action might be seen as a consolidation phase before the next leg of a directional move. Meanwhile, the recent repeated failures near a technically significant 200-day Simple Moving Average (SMA) suggest that the path of least resistance for the USD/JPY pair is to the downside. That said, it will still be prudent to wait for some follow-through selling and acceptance below the 147.00 mark before positioning for further losses amid neutral oscillators on the daily chart. Spot prices might then accelerate the fall towards the 146.30-146.20 horizontal support. This is closely followed by the 146.00 round figure, below which the downward trajectory could extend further towards the 145.35 intermediate support en route to the 145.00 psychological mark.On the flip side, any positive move up is likely to confront an immediate hurdle near the 148.00 round figure, above which a bout of short-covering could lift the USD/JPY pair to the 200-day Simple Moving Average (SMA) barrier, currently pegged near the 148.75 zone. Some follow-through buying, leading to a subsequent strength beyond the 149.00 mark and the monthly swing high, around the 149.15 region, would negate the negative outlook and shift the near-term bias in favor of bullish traders. Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. How do the decisions of the Bank of Japan impact the Japanese Yen? One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen. How does the differential between Japanese and US bond yields impact the Japanese Yen? Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential. How does broader risk sentiment impact the Japanese Yen? The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.

05:18 WTI rises above $63.00 amid potential supply disruption from Russia
West Texas Intermediate (WTI) Oil price extends its gains for the third consecutive session, trading around $63.20 during the Asian hours on Tuesday.

05:12 Japan’s Hayashi: Tokyo pleased with implementation of tariff agreement with the US
Japan’s Chief Cabinet Secretary Yoshimasa Hayashi welcomed the US-Japan trade deal.

04:52 Australian Dollar moves little following RBA Sarah Hunter's comments
The Australian Dollar (AUD) steadies against the US Dollar (USD) on Tuesday after registering gains in the previous session. The AUD/USD pair appreciated as the US Dollar (USD) struggled ahead of the looming US Federal Reserve (Fed) policy meeting due on Wednesday.

.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-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-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a} .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}}Australian Dollar receives support from waning odds of further RBA rate cuts.China and the US reached a commercial agreement on Monday to transfer TikTok into US ownership.The US Dollar rebounds on technical correction.The Australian Dollar (AUD) steadies against the US Dollar (USD) on Tuesday after registering gains in the previous session. The AUD/USD pair appreciated as the US Dollar (USD) struggled ahead of the looming US Federal Reserve (Fed) policy meeting due on Wednesday.The AUD could have received support after China and the United States (US) reached a commercial agreement on Monday to place TikTok under US ownership, with final approval anticipated during a Friday call between US President Donald Trump and Chinese President Xi Jinping. Trump wrote on “Social Truth” that the “big Trade Meeting” went “VERY WELL!” and emphasized that US-China relations remain “very strong.”Reserve Bank of Australia (RBA) Assistant Governor Sarah Hunter said on Tuesday that the central bank is “close to getting inflation to target.” Hunter noted that risks to the outlook are balanced and emphasized the need for a forward-looking approach given the delayed impact of monetary policy. She added that the RBA is closely monitoring the underlying strength of consumer spending and aims to keep the economy near full employment.The Aussie Dollar finds support on the fading likelihood of further Reserve Bank of Australia (RBA) rate cuts. Swaps now price in an 86% likelihood of unchanged policy in September, bolstered by Australia’s strong July trade surplus, solid Q2 GDP, and hotter July inflation. Consumer Inflation Expectations also climbed in September, signaling stronger domestic demand and raising concerns about renewed inflationary pressures.Australian Dollar holds steady as calm market sentiment prevailsThe US Dollar Index (DXY), which measures the value of the US Dollar against six major currencies, is inching higher and trading around 97.40 at the time of writing. Traders will likely observe the US Retail Sales data for August due on Tuesday.The US Senate confirmed Stephen Miran by a 48-47 vote to fill the Federal Reserve Board seat vacated by Adriana Kugler last month. Miran will be the first executive-branch official to serve on the central bank’s board since 1935.The US Federal Reserve is expected to lower rates by 25 basis points at its September meeting, though there remains a slight chance of a 50-basis-point cut. Markets have also factored in continued easing through 2026 to help stave off a potential recession.Morgan Stanley and Deutsche Bank now expect the US central bank to deliver three rate cuts this year, after recent data pointed to easing inflation pressures. In separate notes on Friday, the brokerages projected 25-basis-point reductions at each of the Fed’s remaining meetings in September, October, and December, according to Reuters.Traders are now expecting multiple Fed rate cuts after US Weekly Initial Jobless Claims climbed to their highest since October 2021, following last week’s weak Nonfarm Payrolls report, overshadowing a hotter-than-expected consumer inflation reading.The National Bureau of Statistics (NBS) showed on Monday that China’s Retail Sales rose 3.4% year-over-year (YoY) in August vs. 3.8% expected and 3.7% in July. Chinese Industrial Production increased 5.2% YoY in the same period, compared to the 5.8% forecast and 5.7% seen previously.The NBS said during its press conference on Monday that economic operation was generally steady in August, but domestic demand will expand and promote a rebound in prices. Some firms are having difficulties in operations as the external environment is very severe, NBS added.Australian Dollar eyes 11-month highs near 0.6700AUD/USD is trading around 0.6660 on Tuesday. The technical analysis of the daily chart shows the pair moves upwards within an ascending channel pattern, indicating the market bias is bullish. Additionally, the pair is positioned above the nine-day Exponential Moving Average (EMA), indicating short-term price momentum is stronger.On the upside, the AUD/USD pair may target the 11-month high of 0.6687, recorded in November 2024, followed by the upper boundary of the ascending channel around 0.6700.The AUD/USD pair may find its initial support at the nine-day EMA of 0.6621, followed by the ascending channel’s lower boundary around 0.6570. A break below the channel would weaken the short-term price momentum and lead the AUD/USD pair to test the 50-day EMA at 0.6535.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 Euro. USD EUR GBP JPY CAD AUD NZD CHF USD -0.05% -0.04% 0.04% -0.03% -0.06% 0.19% -0.04% EUR 0.05% 0.02% -0.03% 0.02% 0.05% 0.23% 0.02% GBP 0.04% -0.02% 0.00% 0.00% 0.04% 0.21% -0.02% JPY -0.04% 0.03% 0.00% 0.00% -0.03% -0.03% -0.03% CAD 0.03% -0.02% -0.00% -0.00% -0.03% 0.18% -0.01% AUD 0.06% -0.05% -0.04% 0.03% 0.03% 0.27% -0.03% NZD -0.19% -0.23% -0.21% 0.03% -0.18% -0.27% -0.18% CHF 0.04% -0.02% 0.02% 0.03% 0.01% 0.03% 0.18% 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.

04:37 RBA’s Hunter: Close to getting inflation to target
Reserve Bank of Australia (RBA) Assistant Governor Sarah Hunter said on Tuesday, the central bank is “close to getting inflation to target.”

Reserve Bank of Australia (RBA) Assistant Governor Sarah Hunter said on Tuesday, the central bank is “close to getting inflation to target.”Additional quotesRisks around the outlook are balanced.

Monetary policy impact with a delay, have to be forward looking.

Consumption is looking better, position beginning to turn over.

Household spending has picked up a bit.

Very closely monitoring the underlying strength of consumer spending.

Want to keep the Australian economy near full employment.

Monthly July CPI was some due to some timing going on with rebates.

Core inflation looks to be broadly in line with out forecasts.Market reactionAUD/USD was last seen trading flat on the day at 0.6670.

04:15 PBOC sets USD/CNY reference rate at 7.1027 vs. 7.1056 previous
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.1027 compared to the previous day's fix of 7.1056 and 7.1159 Reuters estimate.

02:53 GBP/USD tests fresh multi-week highs ahead of Fed & BoE double-header
GBP/USD caught another tentative bullish leg higher on Monday, testing above 1.3600 for the first time since July. The US Dollar (USD) backslid across the board to start the fresh trading week, with investors gearing up for a critical interest rate call from the Federal Reserve (Fed).

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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.

02:04 EUR/USD climbs as Fed cut bets weigh on US Dollar
EUR/USD advanced over 0.21% on Monday as market participants shrugged off the downgrade to French’s sovereign credit rating, as political turmoil remains. Nevertheless, expectations of the first rate cut in nine months of the Federal Reserve, downward pressured the US Dollar.

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Nevertheless, expectations of the first rate cut in nine months of the Federal Reserve, downward pressured the US Dollar. The pair trades at 1.1763 after bouncing off daily lows of 1.1716.Euro rises 0.21% after shrugging off France downgrade, traders focused on Fed, US data, and ECB speakersFinancial markets narrative hasn’t changed with the Federal Open Market Committee (FOMC) meeting right around the corner. Money markets had fully priced in a 25-basis points rate cut by the Fed, with a slim chance of a “jumbo size” 50 bps cut, as depicted in Prime Market Terminal interest rate probability tool.Besides this, the US economic docket will face the release of Retail Sales data on Tuesday, with estimates suggesting that sales dipped in August. Additionally, the Fed is expected to announce that Industrial Production continued to slow down in August.Across the pond, the docket will feature a speech by European Central Bank (ECB) member Jose Luis Escriva. Data-wise, traders will eye Italy’s inflation print, the ZEW Survey in Germany and the Eurozone for September, and Industrial Production for the Euro area.Daily market movers: Euro boosted by ECB’s Schnabel commentsEUR/USD extended its gains, despites Fitch France’s sovereign credit rating from AA- to A+ due to a political deadlock expected after elections. It was also boosted by ECB’s Isabel Schnabel comments that “interest rates are in a good place as inflation stabilizes around our 2% target, and the economy remains resilient at full employment.”US Retail Sales are projected to slow in August, rising 0.3% MoM versus 0.5% previously, which may further pressure DXY downward.Industrial Production for the same month is expected to drop -0.1% MoM, a tenth lower from the previous month print.The US Dollar Index (DXY), which measures the greenback against a basket of six peers, is down 0.28% at 97.34.Fitch Ratings Agency expects two 25 basis rate cuts, each in September and December, with three more reductions penciled in 2026. Conversely, the ratings agency does not project any rate cuts by the European Central Bank (ECB) again.Across the pond, the European Central Bank (ECB) held rates unchanged, adopting a meeting-by-meeting and data-dependent approach, while not pre-committing to a set path on interest rates.Technical outlook: EUR/USD stays firm above 1.1750, eyes on 1.1800EUR/USD uptrend remained intact on Monday, though the pair is shy of cracking the latest cycle high hit on September 9 at 1.1779. This could open the path to challenge 1.1800, setting the stage to test the year-to-date (YTD) high of 1.1829.On the flip side, if EUR/USD slides below 1.1750, sellers could drive the exchange rate to 1.1700. A breach of the latter will expose the 20-day SMA at 1.1688 and the 50-day SMA at 1.1660. 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.

01:55 Donald Trump vows to bring federal military to more US cities
US President Donald Trump hit his stride on Monday, taking to social media and also addressing reporters at the White House to declare his intention to forcefully insert military forces under his control into cities that he personally deems require it, regardless of legality or constitutional breach

US President Donald Trump hit his stride on Monday, taking to social media and also addressing reporters at the White House to declare his intention to forcefully insert military forces under his control into cities that he personally deems require it, regardless of legality or constitutional breaches. Trump also doubled down on his claims that a Venezuelan boat that was attacked by US forces was a "drug boat", while also washing his hands of any knowledge or involvement in Israeli Prime Minister Benjamin Netenyahu's decision to launch military strikes into Qatar.Trump also declared that trade talks with China are still ongoing, but avoided making any firm declarations around the forced sale of TikTok. Trump also had very little to say about his attempt to terminate Dr. Lisa Cook's position on the Federal Reserve (Fed), despite a statement from Michigan officials that no immediate evidence or proof exists that Dr. Cook actually broke any tax rules.Key highlightsTrump calls on Hamas to release hostages or "all bets are off".
We're probably going to go into Chicago next.
I will sign a memorandum to establish the Memphis Safe Task Force and the task force will be a replica of efforts in Washington D.C.
The effort in Memphis will include the National Guard.
We need to save St. Louis.
Aiming to reach St. Louis, New Orleans as well.
Have 'recorded evidence’ on Venezuela drug boat.
Netanyahu did not warn me before strike.
Undecided on TikTok stake.
Trump to speak with Xi about a "significant agreement".
Believe discussion with Xi will confirm things.
Maybe TikTok could bring us closer to China.
Netanyahu will not be visiting Qatar.

01:33 NZD/USD poised for further gains as US Dollar flows falter
NZD/USD looked upwards on Monday, testing chart territory just south of 0.5980. The New Zealand Dollar (NZD) has caught a near-term gust of bidding wind as the US Dollar (USD) slumps ahead of the latest interest rate call from the Federal Reserve (Fed).

00:00 South Korea Export Price Growth (YoY): -1% (August) vs -4.3%
South Korea Export Price Growth (YoY): -1% (August) vs -4.3%

00:00 South Korea Import Price Growth (YoY): -2.2% (August) vs -5.9%
South Korea Import Price Growth (YoY): -2.2% (August) vs -5.9%

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Forex News Timeline

12:13 GBP: Jobs data won't dent hawkish BoE – ING We've just seen the release of UK jobs data for August. Unlike in the US, where the 'solid' labour market crumbled this summer, payrolled job losses were only a modest 8k in August.

12:08 ECB’s Scicluna: There is no cut already in a box and waiting to be unpacked European Central Bank (ECB) policymaker and Central Bank of Malta Governor Edward Scicluna said on Tuesday, “there is no cut already in a box and waiting to be unpacked.”

12:05 Oil holds steady – ING Oil prices are trading almost flat this morning as the market has been caught between escalating geopolitical tensions and not particularly supportive fundamentals, ING's commodity experts Ewa Manthey and Warren Patterson note.

12:01 Eurozone Industrial Production w.d.a. (YoY) came in at 1.8%, above forecasts (1.7%) in July Eurozone Industrial Production w.d.a. (YoY) came in at 1.8%, above forecasts (1.7%) in July

12:01 Eurozone Industrial Production s.a. (MoM) below forecasts (0.4%) in July: Actual (0.3%) Eurozone Industrial Production s.a. (MoM) below forecasts (0.4%) in July: Actual (0.3%)

12:01 Eurozone ZEW Survey – Economic Sentiment above forecasts (20.3) in September: Actual (26.1) Eurozone ZEW Survey – Economic Sentiment above forecasts (20.3) in September: Actual (26.1)

12:01 Germany ZEW Survey – Economic Sentiment registered at 37.3 above expectations (27.3) in September Germany ZEW Survey – Economic Sentiment registered at 37.3 above expectations (27.3) in September

12:01 Germany ZEW Survey – Current Situation registered at -76.4, below expectations (-75) in September Germany ZEW Survey – Current Situation registered at -76.4, below expectations (-75) in September

12:00 Eurozone Labor Cost Index registered at 3.6%, below expectations (3.7%) in 2Q Eurozone Labor Cost Index registered at 3.6%, below expectations (3.7%) in 2Q

11:48 EUR/USD: Clear break above 1.1790 might shift the focus to 1.1830 – UOB Group Upward momentum is starting to build; the odds of Euro (EUR) breaking above 1.1790 are increasing, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

11:40 EUR: Living with French political instability – ING Political instability and missed fiscal targets are raising doubts about France’s ability to meet EU rules and avoid further rating downgrades. The path ahead looks highly uncertain, ING's FX analyst Chris Turner notes.

11:19 USD/CHF slumps to near 0.7900 as Fed dovish bets weigh on US Dollar The USD/CHF pair falls sharply to near 0.7915 during the European trading session on Tuesday.

11:00 Italy Consumer Price Index (YoY) meets expectations (1.6%) in August Italy Consumer Price Index (YoY) meets expectations (1.6%) in August

11:00 Italy Consumer Price Index (MoM) in line with expectations (0.1%) in August Italy Consumer Price Index (MoM) in line with expectations (0.1%) in August

11:00 Italy Consumer Price Index (EU Norm) (YoY) below expectations (1.7%) in August: Actual (1.6%) Italy Consumer Price Index (EU Norm) (YoY) below expectations (1.7%) in August: Actual (1.6%)

11:00 Italy Consumer Price Index (EU Norm) (MoM) in line with expectations (-0.2%) in August Italy Consumer Price Index (EU Norm) (MoM) in line with expectations (-0.2%) in August

10:54 Forex Today: US Dollar remains weak pre-Fed, Gold hits new record-high Here is what you need to know on Tuesday, September 16:

10:39 When is the German ZEW survey and how could it affect EUR/USD? The ZEW will release its German Economic Sentiment Index and the Current Situation Index at 0900 GMT in the EU session later this Tuesday, reflecting institutional investors’ opinions for the next six months.

10:28 EUR/GBP keeps hesitating around 0.8650 following UK employment data The Euro ticked up on Tuesday’s early European session following better-than-expected UK employment figures.

10:10 EUR/USD crawls higher as the US Dollar drifts on risk appetite EUR/USD appreciates for the fourth consecutive day on Tuesday.

09:55 ECB’s Kazaks: Reduction in rates is already very significant In an interview with TV24 on Tuesday, European Central Bank (ECB) policymaker Martins Kazaks said that the “reduction in ECB rates is already very significant.”

09:09 ECB’s Villeroy: We "seriously" have to tackle France’s debt problem European Central Bank (ECB) policymaker Francois Villeroy de Galhau made some comments on the French fiscal and economic outlook on Tuesday.

09:05 United Kingdom Claimant Count Rate unchanged at 4.4% in August United Kingdom Claimant Count Rate unchanged at 4.4% in August

09:00 United Kingdom Average Earnings Excluding Bonus (3Mo/Yr) in line with forecasts (4.8%) in July United Kingdom Average Earnings Excluding Bonus (3Mo/Yr) in line with forecasts (4.8%) in July

09:00 United Kingdom Average Earnings Including Bonus (3Mo/Yr) in line with expectations (4.7%) in July United Kingdom Average Earnings Including Bonus (3Mo/Yr) in line with expectations (4.7%) in July

09:00 United Kingdom Employment Change (3M): 232K (July) vs previous 239K United Kingdom Employment Change (3M): 232K (July) vs previous 239K

09:00 United Kingdom Claimant Count Change below expectations (20.3K) in August: Actual (17.4K) United Kingdom Claimant Count Change below expectations (20.3K) in August: Actual (17.4K)

09:00 United Kingdom ILO Unemployment Rate (3M) meets forecasts (4.7%) in July United Kingdom ILO Unemployment Rate (3M) meets forecasts (4.7%) in July

08:57 RBA's Hauser: AUD has been a well-functioning 'natural' hedge for global risk assets Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser said on Tuesday, “the Australian Dollar (AUD) has been a well-functioning 'natural' hedge for global risk assets.”

08:46 NZD/USD wobbles near 0.5970, investors await Fed policy, NZ Q2 GDP data The NZD/USD pair trades in a tight range around 0.5970 during the late Asian trading session on Tuesday.

08:27 EUR/USD surges toward 1.1800 ahead of economic data from Eurozone, Germany EUR/USD extends its winning streak for the fourth consecutive session, trading around 1.1780 during the Asian hours on Tuesday.

07:37 Silver Price Forecast: XAG/USD consolidates above $42.50, highest since September 2011 Silver (XAG/USD) enters a bullish consolidation phase near its highest level since September 2011 and oscillates in a range, just above mid-$42.00s during the Asian session on Tuesday.

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 Japan Tertiary Industry Index (MoM) above forecasts (0.2%) in July: Actual (0.5%) Japan Tertiary Industry Index (MoM) above forecasts (0.2%) in July: Actual (0.5%)

07:29 FX option expiries for Sept 16 NY cut FX option expiries for Sept 16 NY cut at 10:00 Eastern Time via DTCC can be found below.

07:04 When is the UK Jobs Report and how could it affect GBP/USD? The United Kingdom (UK) docket has the labor market report to be released by the Office for National Statistics (ONS) on Tuesday, later this session at 06:00 GMT.

06:58 Gold sits near record high as Fed rate cut bets keep USD depressed Gold (XAU/USD) retreats slightly after touching a fresh record high, around the $3,689-3,690 region during the Asian session on Tuesday, amid some repositioning trade ahead of key central bank events.

06:00 South Korea Money Supply Growth: 6.4% (July) vs 5.4% South Korea Money Supply Growth: 6.4% (July) vs 5.4%

05:18 WTI rises above $63.00 amid potential supply disruption from Russia West Texas Intermediate (WTI) Oil price extends its gains for the third consecutive session, trading around $63.20 during the Asian hours on Tuesday.

05:12 Japan’s Hayashi: Tokyo pleased with implementation of tariff agreement with the US Japan’s Chief Cabinet Secretary Yoshimasa Hayashi welcomed the US-Japan trade deal.

04:37 RBA’s Hunter: Close to getting inflation to target Reserve Bank of Australia (RBA) Assistant Governor Sarah Hunter said on Tuesday, the central bank is “close to getting inflation to target.”

04:15 PBOC sets USD/CNY reference rate at 7.1027 vs. 7.1056 previous The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.1027 compared to the previous day's fix of 7.1056 and 7.1159 Reuters estimate.

00:00 South Korea Export Price Growth (YoY): -1% (August) vs -4.3% South Korea Export Price Growth (YoY): -1% (August) vs -4.3%

00:00 South Korea Import Price Growth (YoY): -2.2% (August) vs -5.9% South Korea Import Price Growth (YoY): -2.2% (August) vs -5.9%

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