Market News

The Mexican peso weakened on Tuesday after news of the largest gain in U.S. retail sales in seven months, leading traders to rethink skepticism about a potential U.S. rate hike this year.

U.S. benchmark Treasury yields rose to one-week highs on Tuesday as investors pared low-risk bond holdings on signs of easing U.S.-North Korean tensions and on strong domestic retail sales and regional factory activity data.

Sterling tumbled to a 10-month low against the euro on Tuesday as weak inflation data and concerns about protracted negotiations with euro zone authorities prompted investors to pile negative bets against the British currency.

Gold fell sharply for a second day on Tuesday after better-than-expected U.S. economic data and a decrease in tensions over North Korea encouraged investors to buy riskier assets, boosting stocks, the U.S. dollar, and bond yields.

Oil prices fell on Tuesday, extending a heavy sell-off after a surge in the dollar and weighed down by signs of weaker demand in China, the world’s second-largest consumer.

The dollar rose to its highest level against a basket of major currencies in nearly three weeks on Tuesday after U.S. retail sales data showed the largest gain in seven months.

U.S. retail sales recorded their biggest increase in seven months in July as consumers boosted purchases of motor vehicles and lifted discretionary spending, suggesting the economy continued to gain momentum early in the third quarter.

British consumer price inflation unexpectedly held steady last month, bucking market expectations for a renewed rise, after fuel prices fell and the effect of the pound’s tumble after last year’s Brexit vote started to fade.

GBP got a severe beat-down during the session. Also, CHF ended up being the best-performing currency of the session, despite the risk-on vibes.

News traders huddle up! Let’s take a look at Australia’s jobs report due this week and see if we can spot any trade opportunities.

The dollar and higher-yielding currencies popped higher on news that North Korea is holding off from bombing Guam today.

Large players boosted the value of their net short positions on USD. And the latest COT report shows that USD lost ground mainly to CAD, JPY, and EUR.

Asian shares rallied and the dollar firmed on Tuesday after North Korea’s leader signaled that he would delay plans to fire a missile near Guam, further easing tensions and prompting investors to move back into riskier assets.

The dollar edged higher against the yen on Tuesday, pulling away from a recent four-month low, as concerns over tensions between the United States and North Korea eased for now, supporting risk appetite.

Gold edged lower early on Tuesday, weighed down by a steady U.S. dollar and firmer Asian stocks as geopolitical tensions between the United States and North Korea appeared to ease.

After taking a heavy beating late last week, U.S. stock indices managed to end the day in the green on easing concerns about North Korea.

Gold’s rally in recent weeks may be its first boosted by Twitter, but for the gains to sustain it will likely take more than just the ramping up of global geopolitical tensions amid bellicose tweets from U.S. President Donald Trump.

The Canadian dollar weakened on Monday against its U.S. counterpart as oil prices fell and the greenback posted broader gains, while investors awaited the start of renegotiations of the NAFTA trade pact this week.

The Swiss franc posted its biggest daily drop against the U.S. dollar in nearly three weeks on Monday as investor concern over geopolitical risks eased and Japan posted solid economic data.

Gold dropped by half a percentage point on Monday, retreating from last week’s two-month highs under pressure from a strengthening dollar and a slight easing of tensions between the United States and North Korea.