Trading news

The US Dollar (USD) extended near-term bearish momentum, falling sharply and extending into a four-day decline as investors settle into a comfortable risk-on stance, stepping out of the safe-haven Greenback and into riskier assets as investors bank on a continued cooling of recent Middle East tensio

The Dow Jones Industrial Average (DJIA) rallied on Tuesday, with equity markets bolstered across the board as the Israel-US-Iran conflict looks set to continue cooling off. Crude Oil markets are receding, falling into two-week lows and further easing market fears.

Silver (XAG/USD) reverses course during the American session on Tuesday after spending most of the day drifting lower from an intraday high of $36.20.

The Australian Dollar (AUD) continues to strengthen against the United States Dollar (USD) on Tuesday as traders react to signs of easing geopolitical tensions. 

Federal Reserve (Fed) Bank of Minneapolis President Neel Kashkari added his voice to cautionary tones from various Fed officials on Tuesday.

Gold price tumbled below $3,350 on Tuesday amid broad US Dollar weakness, as US Federal Reserve Chair Jerome Powell pushed back against reducing borrowing costs, reiterating that the impact of tariffs on inflation remains uncertain. At the time of writing, XAU/USD trades at $3,315, down over 1.50%.

Federal Reserve (Fed) Bank of New York President John Williams predicted slightly higher inflation and unemployment through the rest of the year on Tuesday, as well as slower-than-expected growth metrics.

United States 2-Year Note Auction fell from previous 3.955% to 3.786%

Federal Reserve (Fed) Chair Jerome Powell added further comments during his testimony before the congressional budget committee on Tuesday, building out his case for holding off on rate cuts, likely until sometime in the fourth quarter.

The Swiss Franc (CHF) trades stronger against the US Dollar (USD) on Tuesday, building on Monday’s gains amid a broadly weaker Greenback as geopolitical tensions ease following a ceasefire agreement between Iran and Israel.

The US Dollar Index (DXY) is trading lower on Tuesday following news of a ceasefire agreement between Israel and Iran, which has alleviated demand for the US Dollar (USD). At the time of writing, the DXY is trading near 97.65, just above the June low of 97.61.

Bank of England (BoE) Deputy Governor Dave Ramsden said on Tuesday that if evidence becomes stronger that inflation will undershoot the target, they can speed up rate cuts, per Reuters.

Consumer sentiment in the US deteriorated in June, with the Conference Board's Consumer Confidence Index falling to 93 from 98.4 in May.

The Japanese Yen (JPY) extends its winning streak against the US Dollar (USD) on Tuesday, building on Monday’s gains as the Greenback stays on the defensive.

The Pound Sterling extended its gains versus the US Dollar on Tuesday, as the proposed ceasefire between Israel and Iran was violated by both parties, despite US President Donald Trump's warning. Nevertheless, the risk appetite remains strong, despite the ongoing developments in the Middle East.

While testifying before the Lords Economic Affairs Committee on Tuesday, Bank of England (BoE) Governor Andrew Bailey said the impact of trade tariffs on inflation is more ambiguous than the impact on economic growth, per Reuters.

European Central Bank chief economist Philip Lane said on Tuesday that there is still some distance to travel in relation to services inflation, per Reuters.

United States Richmond Fed Manufacturing Index meets forecasts (-7) in June

Gold prices are falling on Tuesday as investors flee from safe-haven assets after the announcement of a ceasefire between Israel and Iran. 

Federal Reserve (Fed) Bank of Cleveland President Beth Hammack said on Tuesday that the rate policy could remain on hold for quite some time as the Fed seeks clarity, per Reuters.