USD/CAD catches aggressive bids on Tuesday and rallies to over a two-month top. Sliding Oil prices undermines the Loonie and lends support amid a strong USD. A sustained breakthrough the 100-day SMA supports prospects for further gains. (FXStreet) 

EUR/USD recovered above 1.1000 in the early European morning but failed to preserve its bullish momentum. At the time of press, the pair was trading in negative territory below 1.0980. (FXStreet)

GBP/USD came within a touching distance of 1.2700 in the European session on Monday but managed to end the day in positive territory as the USD lost its strength during the American trading hours. After encountering resistance at 1.2800, however, the pair retreated to the 1.2750 area on Tuesday. (FXStreet)

AUD/USD came under heavy bearish pressure following the disappointing Chinese data in the Asian session on Tuesday. The pair continues to push lower and trades within a touching distance of the two-month low it set at 0.6513 last week. Similarly, NZD/USD is down 0.8% so far on the day and trades at its lowest level since late June at around 0.6050. (FXStreet)

USD/JPY registered modest gains on Monday and preserved its bullish momentum on Tuesday, The pair was last seen trading a few pips above 143.00. The data from Japan showed earlier in the day that the Eco Watchers Survey - Outlook improved to 54.1 in July from 52.8 in June. (FXStreet)

NZD/USD extends pullback from 10-month-old previous support amid bearish MACD signals. Three-week-old descending resistance line, 200-DMA act as additional upside filters. Kiwi bears approach 50% Fibonacci retracement, June’s low amid further downside. Risk catalysts eyed for clear directions, sellers are likely to keep the reins amid slightly offbeat sentiment. (FXStreet)

USD/CHF turns topsy-turvy around 0.8750 ahead of US inflation data. US equities witnessed buying interest after Fed Goolsbee said Fitch’s downgrade to the US debt won’t make any difference. A tight labor market in the Swiss economy could keep inflation higher than the desired rate. (FXStreet)

USD/MXN attracts fresh buying on Tuesday and stalls its corrective slide from the monthly top. The technical setup favours bullish traders and supports prospects for further intraday gains. A sustained break below the 17.00 round-figure mark is needed to negate the positive outlook. (FXStreet)

GBP/JPY struggles to capitalize on its modest intraday gains to a multi-day peak. The BoE’s less hawkish signals undermine the British Pound and cap the upside. A softer risk tone benefits the safe-haven JPY and also contributes to keeping a lid. (FXStreet)

EUR/GBP oscillates around the 0.8604–24 region in a narrow trading band. The German Harmonized Index of Consumer Prices (HICP) came in at 6.5%, as expected. The Bank of England (BoE) policymaker said interest rates were expected to remain high for a longer period. (FXStreet)

EUR/JPY picks up bids to refresh intraday high, prods six-week-old descending resistance line. Germany’s inflation gauges match initial forecasts for July. Downbeat Japan real wage pushes back BoJ hawks even as YCC tweak, sluggish yields prod Yen sellers. Risk catalysts eyed for clear directions, technical breakout can challenge yearly top. (FXStreet)

AUD/JPY lacks any firm intraday direction, flat-lines around 93.85 for the day. Japanese Household Spending YoY dropped from -4.0% to -4.2% in June. The Australian and Chinese data showed mixed results. Investors will keep an eye on the Chinese Consumer Price Index (CPI) and Producer Price Index (PPI) YoY. (FXStreet)

USD/INR clings to mild gains during two-day winning streak, edges higher of late. Mixed concerns about economic developments, central bank talks weigh on sentiment ahead of top-tier data. China Trade Balance rose in July but details appear less impressive. Risk catalysts eyed for clear directions ahead of US inflation, RBI Interest Rate Decision. (FXStreet)

Market sentiment remains sluggish, fades the previous risk-on mood ahead of second-tier China, US data. S&P500 Futures prints mild losses after bouncing off one-month low to snap four-day losing streak the previous day. US Treasury bond yields struggle for clear directions after reversing Friday’s weakness the previous day. Mixed signals from Fed, BoJ and BoE join concerns about Eurozone recession to weigh on risk profile amid lackluster trading. (FXStreet)

WTI crude oil prints 1.0% intraday loss after a lackluster start to the week. Fears of slowing energy demand from China, firmer US Dollar weigh on Oil price. Risk catalysts eyed ahead of weekly stockpile data, US inflation for clear directions. (FXStreet)

The index adds to the positive start of the week above 102.00. US yields correct lower across the curve on Tuesday. Fed’s Harker, Trade Balance, Wholesale Inventories next on tap. The USD Index (DXY), which gauges the greenback vs. a bundle of its main rival currencies, extends the optimism seen at the beginning of the week and maintains the trade above the 102.00 mark for the time being. (FXStreet)

Gold price prints a fresh intraday low amid caution ahead of US Inflation data. A tight labor market and high inflation could force the Fed to lift interest rates further. Fed Williams seems confident that the central bank would consider a rate cut in early 2024. (FXStreet)

Silver stages a modest recovery from a nearly one-month low touched on Monday. The technical setup favours bearish traders and supports prospects for further losses. A sustained strength beyond the $24.00 mark is needed to negate the bearish bias. (FXStreet)

Source: FXStreet, DailyFX

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