Market News

The U.S. dollar found more reasons to advance against its rivals thanks to stronger than expected medium-tier reports.

The dollar shook off early weakness to rise to more than a one-week high on Tuesday, after data showing U.S. job openings surging to a record high in June reinforced Friday’s robust payrolls data.

Oil prices slipped on Tuesday, pulling back from recent gains as exports from key OPEC producers rose and despite news of lower crude shipments from Saudi Arabia.

Sterling hit a 10-month low against the euro on Tuesday as investors grew more bearish about Britain’s economic outlook after consumer spending fell for a third month in a row in July.

U.S. Treasury yields rose in a largely range-bound session as investors held off taking significant bets ahead of the expected reduction of the Federal Reserve’s balance sheet next month and a debt auction later on Tuesday.

Global stocks inched up to a new record high on Tuesday, shrugging off weaker-than-expected Chinese trade data that clouded an otherwise bright outlook for global growth.

Gold rose for the first session in three on Tuesday after the dollar eased as focus shifted to U.S. inflation figures later this week for further clues on monetary tightening.

Not much in terms of market-moving data or news during the session. Even so, there was plenty of wonky price action.

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The Aussie started the day on a strong note thanks to Australia’s business survey reports, but soon fell back on weaker-than-expected Chinese trade numbers.

China’s exports and imports grew more slowly than expected in July, raising concerns over whether global demand is starting to cool even as major Western central banks consider scaling back their massive stimulus programs.

Asian shares went flat on Tuesday as disappointing Chinese trade data clouded the otherwise upbeat outlook on global growth, leaving currencies and commodities becalmed in summer doldrums.

Gold prices were steady early on Tuesday, hovering around nearly two-week lows hit on Friday, with the U.S. dollar buoyed by hopes of another interest rate hike this year after robust U.S. employment data.

Oil prices slipped further in Asian trading on Tuesday following a recovery in output at Libya’s largest oil field and as doubts about OPEC-led production cuts continue to weigh on the market.

Large players boosted their bearish positions on USD ahead of the NFP report. And the latest COT report shows that CAD and JPY were the main beneficiaries.

The dollar steadied in Asian trading on Tuesday, maintaining most of the gains it made on last week’s robust employment data that kept hope alive that the U.S. Federal Reserve could still increase interest rates this year.

Dollar pairs were chillin’ like ice cream fillin’ on Monday’s New York trading session with the Donald out on vacay and U.S. equity indices hitting record highs.

A measure of equity markets across the world climbed to a record high on Monday, boosted by gains in Asia, while U.S. and European markets were little changed, with U.S. energy shares capping gains on the benchmark S&P 500 index.

Oil prices dipped on Monday as a rebound in production from Libya’s largest oil field prompted selling, and investors worried about higher output from OPEC and the United States.

The U.S. dollar eased slightly on Monday, but clung to most of its gains following Friday’s robust U.S. jobs report, as investors await inflation data this week that may signal a turnaround in the currency’s weakness this year.