Daily market news

National Bank of Canada (NBC) strategists highlight that the S&P 500 has hit a fresh record high in August, supported by an exceptionally strong Q2 earnings season with roughly 50% year-on-year EPS growth.

The Euro (EUR) trades 0.2% lower to near 1.1593 against the US Dollar (USD) during the European trading session on Tuesday.

West Texas Intermediate (WTI) US Oil extends its rebound for a second consecutive day on Tuesday, gaining 1.76% on the day to trade around $86.95 at the time of writing.

The US Dollar (USD) is up 0.15% to near 160.00 against the Japanese Yen (JPY) during the European trading session on Tuesday.

Here is what you need to know on Tuesday, September 1:

Silver (XAG/USD) remains practically flat on Tuesday, holding most of Friday’s losses and trading at $66.60 at the time of writing, with price action contained within the previous day’s range.

The US Dollar (USD) trades slightly higher to near 1.3863 against the Canadian Dollar (CAD) during the European trading session on Tuesday. The Loonie pair remains broadly as ongoing trade tensions between the United States (US) and Canada have put the Canadian Dollar under pressure.

The GBP/USD pair trades in negative territory around 1.3545 during the early European trading hours on Tuesday. Federal Reserve (Fed) Chair Kevin Warsh’s hawkish remarks at the Jackson Hole symposium underpin the US dollar (USD) against the British Pound (GBP). 

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts buyers for the second straight day on Tuesday as escalating US-Iran tensions and the standoff over the Strait of Hormuz continue to fuel supply concerns.

EUR/JPY inches lower after registering gains in the previous day, trading around 185.50 during Asian hours on Tuesday.