Gold Price Forecast: XAU/USD Poised for August Breakout After Six Weeks of Consolidation
Gold has spent six weeks trapped in a tightening range at the yearly low, with the next breakout likely to determine the Augu.
Weekend Markets Show Slight Declines Across Major Indices and Currencies
Major global stock indices closed slightly lower over the weekend, with DAX, DOW, NASDAQ, FTSE, and Hang Seng all down by less than 0.1%. Key currency pairs USDJPY and EURUSD also saw minor declines, while US oil prices edged up by 0.34%.
Canadian Dollar Forecast: Scotiabank Sees More USD/CAD Pressure Ahead
Analysts at Scotiabank expect renewed pressure on USD/CAD after its July decline, with a break below 1.4000 opening the way towards 1.3981 and the upper 1.39s. The US Dollar to Canadian Dollar exchange rate ended July near 1.4015 after falling 1.36% over the month.
Saudi Oil Tankers Reroute Around Africa Due to Houthi Threats
At least six Saudi oil tankers have altered their routes to avoid the Red Sea, opting to sail around Africa following threats from Houthi forces. This detour extends voyage times by approximately two weeks, underscoring increased security risks and disruptions to regional oil shipping.
Europe's Heat Waves Weaken Electricity Supply, Increasing Reliance on Fossil Fuels and Renewables
A series of intense heat waves across Europe have compromised traditionally stable electricity sources, compelling the continent to depend more on imported fossil fuels and fluctuating renewable energy. This shift highlights the vulnerability of Europe's power infrastructure amid extreme weather conditions.
Treasuries Decline as Fed Dissenters Push for Rate Hikes Amid Rising Oil Prices
US Treasury yields fell following comments from Federal Reserve policymakers who dissented on the recent decision to pause interest rate increases, advocating for hikes to control inflation. The decline also coincided with a rise in oil prices, adding pressure on inflation expectations.
Trump’s Illegal Tariffs Account for 85% of Apple’s Earnings Beat
Apple's recent earnings beat was significantly influenced by the impact of tariffs imposed during the Trump administration, which accounted for 85% of the positive earnings surprise. This highlights the substantial effect of trade policies on corporate financial performance.
Pound to Euro Forecast 2026–2028: Latest Survey Poll Shows GBP Easing from 1.17
Exchange Rates UK Research's latest August 2026 survey of major investment banks suggests the Pound to Euro exchange rate is trading above where most institutions believe it will settle over the medium term. With GBP/EUR currently at 1.1694, close to its highest level in more than a year, the majority of banks expect the exchange rate.
Vessel Attacked Near Strait of Hormuz, UKMTO Reports
The UK Maritime Trade Operations (UKMTO) has reported an attack on a vessel in the southern shipping lane near Oman, close to the Strait of Hormuz. This incident highlights ongoing security concerns in a critical maritime chokepoint for global oil shipments.
ING Euro-to-Dollar Forecast: EUR/USD Rally Has Further to Run, but 1.16 a Stretch
ING expects EUR/USD to remain supported around 1.1500 following the sharp Dollar selloff, although a sustained move above 1.1600 would require a further dovish repricing of US interest rates. The Euro to US Dollar exchange rate (EUR/USD) gained just over 1% in July, recovering from a monthly low near 1.1354 and reaching a high around.