The USDCHF struggles to rise above 0.8000, facing resistance since June. With key moving averages at risk, further declines could target 0.7919 unless buyers reclaim momentum above 0.7994. – vtmarketsmy.com
Trump’s 50% copper tariffs sparked market turmoil, driving US prices up while LME prices fell. Domestic supply must adapt quickly, but volatility and strategic trades are crucial for navigating uncertainties. – vtmarketsmy.com
The GBPUSD is struggling, influenced by weak UK data and a strong US dollar. With resistance at 1.3514-1.3529 and a key drop below 1.3480 threatening further declines, remain vigilant. – vtmarketsmy.com
Gold ETFs saw significant inflows of 397 tons in early 2023, pushing prices to record highs amid geopolitical tensions. However, the impact on prices has since diminished, requiring cautious investment. – vtmarketsmy.com
Trump’s upcoming tariff letter to Von Der Leyen could influence euro markets. A 20% tariff rate is expected, but responses may vary. Traders should monitor volatility and positioning closely for insights. – vtmarketsmy.com
OPEC+ will increase oil production by 550,000 barrels daily in September, easing cuts but maintaining 3.66 million barrels of limits until 2026. Market oversupply risks may impact future decisions. – vtmarketsmy.com
Canada’s job market thrived in June with 83.1K new jobs, lowering unemployment to 6.9%. However, weakened wage growth hints at slower central bank tightening, impacting the Canadian dollar’s value. – vtmarketsmy.com
Canadian building permits surged 12% in May, driven by a single large hospital project. While residential intentions grew, the overall data raises caution about sustainable construction growth amidst skewed results. – vtmarketsmy.com
The USD gains strength against the EUR, JPY, and GBP as US tariffs unsettle markets. Weaker UK economic data pressures the pound, while rising bond yields bolster the dollar’s appeal. – vtmarketsmy.com
The USD is stable but cautious amid mixed economic signals, with traders eyeing the upcoming CPI report for clues on potential rate cuts. The AUD’s direction depends on similar data and technical patterns. – vtmarketsmy.com
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