Weaker stocks tugged the Canadian Dollar (CAD) a bit lower yesterday and remain a risk for the currency in the near term as China and rising yields weigh on sentiment, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Pound Sterling (GBP) outperforms its major peers on Tuesday, with investors focusing on Middle East tensions driving market sentiment.

The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, remains flat on Tuesday.

The Pound Sterling (GBP) is little changed on the session, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

With the USD weakening on concerns about the US economy, USD/CAD has naturally trended lower again.

Treasuries advanced, led by the short-end, as bets on interest-rate cuts stabilised after a hawkish repricing in recent days.

The start of the week has been quite mixed in FX, with the low-yielding JPY and CHF rising and the high-beta AUD and NZD under additional pressure, ING’s FX analyst Francesco Pesole notes.

The Euro (EUR) has nudged higher to near 1.10 this morning despite signs that even relative hawks on the ECB governing council may not oppose a rate cut late this month, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

Markets are virtually fully pricing in an ECB rate cut next week (23bp), but our economics team discusses here how the decision may well be much closer than the rates market suggests, ING’s FX analyst Francesco Pesole.

The Pound Sterling (GBP) outperforms its major peers on Tuesday, with investors focusing on Middle East tensions driving market sentiment.

Here is what you need to know on Tuesday, October 8: Markets hold a cautious tone early Tuesday as investors await the next batch of macroeconomic data releases.

The GBP/USD pair attracts some buyers during the Asian session on Tuesday and for now, seems to have snapped a five-day losing streak to a nearly four-week low, around the 1.3560 area touched the previous day.

The GBP/USD pair attracts some buyers during the Asian session on Tuesday and for now, seems to have snapped a five-day losing streak to a nearly four-week low, around the 1.3560 area touched the previous day.

Gold price (XAU/USD) remains depressed during the Asian session on Tuesday and is currently placed just above the lower boundary of a short-term range.

GBP/USD sunk another one-quarter of one percent on Monday, easing into a fresh four-week low and closing below the 1.3100 handle for the first time since mid-September.

The AUD/USD pair declined by 0.50% to 0.6765 on Monday, pressured by a stronger US Dollar and concerns over geopolitical tensions in the Middle East.

The AUD/USD pair kicks off the new week on a positive note, snapping a two-day losing streak and stalling its recent pullback from the highest level since February 2023 touched last Monday.

EUR/JPY trades down almost half a percent in the 162.50s on Monday as it closes in on the ceiling of its multi-week trading range from the early August lows.

Here is what you need to know on Monday, October 7: The US Dollar (USD) Index rose more than 2% in the previous week and registered its largest one-week gain of 2024.

Since the last FOMC decision, equity indices remain near their highs, credit spreads at their tights, Gold prices near all-time-highs and yet long-end yields have risen alongside commodities markets, TDS macro analyst Daniel Ghali notes.

The Pound Sterling (GBP) closed the week deep in the red against the US Dollar (USD), as the GBP/USD extended the correction from 30-month highs to below 1.3100.

Silver price (XAG/USD) extends its downside below $32.00 in Monday’s European session.

The US Dollar (USD) is having a very soft start of the week, going sideways on Monday, with the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, hovering around 102.50. While traders are bracing for the US

The Canadian Dollar (CAD) has softened against the stronger US Dollar (USD) over the past week but losses are relatively contained, leaving the CAD as the top-performing G10 currency over the past five days with a drop of a little under 0.5% (versus a 3% drop for the JPY and NZD and a 1.8% decline in the AUD), Scotiabank’s Chief FX Strategist Shaun Osborne notes.