Silver (XAG/USD) remains practically flat on Tuesday, trading at its lowest levels in nearly two months on Tuesday, around $60.80, failing to find follow-through above $61.00 and on track for a 8.5% monthly selloff in September.

Scotiabank’s analysts highlight a softer Canadian Dollar, trading defensively with G10 peers. Wider US–Canada yield spreads remain a headwind as Bank of Canada (BoC) expectations firm, with October priced for 14 bps and December for 37 bps of tightening.

Deutsche Bank’s Early Morning Reid notes that rising US yields and Oil prices are weighing on equities. The S&P 500 fell nearly 0.8%, led by larger declines in the Magnificent 7, while defensive sectors such as consumer staples and healthcare posted modest gains.

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts fresh buyers following the previous day's good two-way price swings and climbs to the $93.00 neighborhood during the Asian session on Tuesday.

EUR/JPY remains subdued for the third successive day, trading around 178.80 during Asian hours on Tuesday. Technical analysis of the daily chart shows that the currency cross remains confined within a descending channel pattern.

Silver (XAG/USD) falls around 5% on Monday, slipping to its lowest level since early August.

Silver (XAG/USD) falls sharply on Monday, losing 4.53% on the day to trade around $61.40 at the time of writing. The precious metal faces heavy selling pressure as elevated United States (US) Treasury yields and growing expectations of further interest rate hikes weigh on non-yielding assets.

Kit Juckes at Societe Generale notes that EUR/USD forecasts have been repeatedly revised down as Dollar strength persists. While consensus has moved from 1.20 to 1.16 and Societe Generale now sees 1.15, client discussions suggest markets are even more Dollar-bullish.

ING FX Strategist Francesco Pesole argues EUR/USD should be trading above 1.140 based on their models, with recent Euro weakness seen as somewhat overdone. He focuses on September Eurozone inflation and ECB communication as key drivers.

The EUR/USD pair fills a modest weekly bearish gap, though it lacks bullish conviction and struggles below the 1.1400 mark through the Asian session on Monday.