Euro trims losses against the US Dollar, but Fed rate-hike bets keep gains in check.
Euro trims losses against the US Dollar, but Fed rate-hike bets keep gains in check.
Market narrative
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Euro trims losses against the US Dollar, but Fed rate-hike bets keep gains in check.
Forex
These remain difficult sessions for the euro in the short term. Despite the recovery attempt at the start of the week, EUR/USD is still down by a little more than 0.1% during the session and is once again trading below the 1.1400 area.
Traders are exercising caution on the USD/ZAR ahead of two high-profile risk events this week, even as a bullish chart pattern evolves.
Silver Price Forecast: XAG/USD attempts to reclaim $60 as bearish trend persists
Euro: Resistance at 1.1450 caps upside against US Dollar – Scotiabank
Silver tends to move with the idea of what the US dollar is doing, and right now, the US dollar is doing very well. This will continue to pressure silver for the time being.
The US dollar has been strengthening during the session on Tuesday, as rates are rising in the United States as well.
Gold prices have steadied after one of their sharpest monthly declines in years, and HSBC believes the precious metal is approaching a level where long-term investors may begin returning. Gold (XAU/USD) traded near $4,021 on Monday, little changed on the day after falling more than 11% in June from highs above $4,540.
Dollar strength continues to pressure crude oil and gold as both assets approach defining support levels near $69 and 3,930, respectively, while inflation implications continue to linger.
The USDCAD has been in a strong uptrend since May 1, rallying from 1.35492 to last week's high of 1.42473. That peak was reached on both Wednesday and Thursday, and the inability to push higher triggered a corrective move lower that briefly took the pair back below its 100-hour moving average.
Today, the USD/JPY has again raised become centre of attention after surging beyond the 162.00 level, putting Japanese authorities in an increasingly uncomfortable position. The move has pushed the yen to its weakest against the dollar level since 1986, prompting fresh speculation that Tokyo could soon step into the foreign exchange market.
British Pound: Neutral stance against US Dollar with carry support – OCBC
Oil has returned to the levels seen before the armed conflict in the Middle East much sooner than expected. Brent's fall of almost 40% from its March highs is not solely due to more barrels coming from the Persian Gulf.
Gold: Deep quarterly loss on Fed repricing – Commerzbank
Gold Price Forecast: XAU/USD struggles around $4,000, near YTD lows
Gold steadies after sliding to fresh seven-month low, Fed rate-hike bets weigh
The US dollar rose after a three-day decline, thanks to growing investor confidence in the Fed's independence, anticipation of Kevin Warsh's speech in Sintra, Portugal, and the realisation that the situation in the Middle East must be taken seriously. The US is attempting to de-escalate the conflict and has announced talks, but Iran insists on maintaining control over the Strait of Hormuz.
The USD/PLN pair rose roughly 4% over the past month as the US dollar gained strength against the Polish zloty. After reaching a year to date high of 3.7760 on June 25, 2026, the pair has declined over the last three trading sessions.
Silver rebounds as Fed rate hike expectations cap gains before US labor data
Silver price today: Silver rises, according to FXStreet data