Daily market news

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – scales higher for the third straight day – also marking the fifth day of a positive move in the previous six – and climbs to a fresh high since July 24 during the Asian session on Wednesday.

The US Dollar (USD) has managed to leave behind the negative start to the week and regained balance on Tuesday. The recovery has come on the back of a generalised recovery in US Treasury yields and ongoing tensions in the geopolitical landscape.

USD/CHF ticks higher on Tuesday as the US Dollar (USD) recoups most of the previous day’s losses. Hawkish Federal Reserve (Fed) expectations and rising US Treasury yields keep the Greenback underpinned near its recent highs.

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.