Oil Prices Rise Over 1% on Positive U.S. Economic Data and Geopolitical Tensions 
Market Roundup
•US Jun Retail Sales Ex Gas/Autos (MoM) 0.8% ,0.1% previous
•US Jun Import Price Index (YoY) 1.6%,1.1% previous
•US Jun Export Price Index (YoY) 0.7%,0.6% previous
•Canada Jun Core CPI (YoY) 1.9%,1.8% previous
•Canada Jun Trimmed CPI (YoY) 2.9%,2.8% forecast,2.9% previous
•Canada Jun Median CPI (YoY) 2.6%,2.7% forecast,2.8% previous
•Canada Jun Common CPI (YoY) 2.3%,2.4% forecast,2.4% previous
•US Jun Retail Control (MoM) 0.9%, 0.4% previous
• US Jun Core Retail Sales (MoM) 0.4% ,0.1% forecast,-0.1% previous
• US Jun Retail Sales (MoM) 0.0%, -0.3% forecast,0.1% previous
•US Jun Import Price Index (MoM) 0.0% ,0.2% forecast,-0.4% previous
•US Jun Export Price Index (MoM) -0.5% ,-0.6% previous
•US May Business Inventories (MoM) 0.5% ,0.4% forecast,0.3% previous
Looking Ahead Economic Data(GMT)
•No Data Ahead
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Summaries
EUR/USD: The euro steadied on Tuesday as investors awaited this week’s European Central Bank meeting for clues on ECB policy outlook. The European Central Bank will hold its policy meeting later this week, where it is widely expected to hold interest rates. Investors will however focus on remarks from policymakers to ascertain the timing of future rate cuts. On the data front, German investor morale deteriorated more than expected in July, registering its first fall in a year and suggesting the recovery in the euro zone's largest economy will be bumpy.The economic sentiment index fell to 41.8 points from 47.5 points in June, the ZEW economic research institute said on Tuesday. Analysts polled had forecast a July reading of 42.3. Immediate resistance can be seen at 1.0902(23.6%fib).), an upside break can trigger rise towards 1.1000 (Psychological level).On the downside, immediate support is seen at 1.0861(Daily low), a break below could take the pair towards 1.0825(38.2%fib).
GBP/USD: The pound held steady on Tuesday just shy of a one year high on the dollar hit the previous day, as traders caught their breath ahead of a raft of major political and economic data due later in the week.British inflation data for June is due Wednesday, and will guide expectations of whether the Bank of England will cut rates at its August meeting, or hold off until later in the year. Investors were nervous about placing overly large bets ahead of that data and sterling was last sitting steady against the dollar at $1.2969 , just off the previous day's one-year top of $1.2995.Reasonably upbeat economic British data and relatively hawkish policy makers have been supporting the pound, while signs of slowing inflation in the U.S. brings down the dollar, and political uncertainty in France has weighed on the euro. Immediate resistance can be seen at 1.2989(23.6%fib), an upside break can trigger rise towards 1.3000(Psychological level).On the downside, immediate support is seen at 1.2905(Daily low), a break below could take the pair towards 1.2871(38.2%fib).
USD/CAD: The Canadian dollar fell against U.S. counterpart on Tuesday as greenback rose after a reading of retail sales proved to be firmer than expected, but was still soft enough to keep expectations intact for a rate cut from the Federal Reserve this year. Canadian housing starts in Junefell more than expected to 241,700 units from a revised 264,900 units the previous month, the Canadian Mortgage and Housing Corporation (CMHC) said.A survey of 12 economists polled by Reuters had forecast June housing starts falling to 255,000 units.Canada's annual inflation rate eased to 2.7% in June, down from 2.9% in May, Statistics Canada said. Analysts polled had expected an annual rate of 2.8% . The loonie was trading 0.1% lower at C$1.3698 to the greenback, or 73 U.S. cents, after trading in a range of 1.3667 to 1.3707.Immediate resistance can be seen at 1.3701 (38.2%fib), an upside break can trigger rise towards 1.2740 (23.6 %fib).On the downside, immediate support is seen at 1.3664(50% fib), a break below could take the pair towards 1.2633(61.8% fib).
USD/JPY: U.S. dollar gained against the yen on Tuesday after solid U.S. retail sales data was taken as supporting prospects the Federal Reserve will ease rates to rein in inflation while aiming to avoid a recession.Data showed retail sales unchanged in June from a May reading that was higher than initially estimated.Echoing comments from Fed Chair Jerome Powell on Monday, Fed Governor Adriana Kugler said recent data suggests inflation is returning to the central bank's 2% target. Investors are pricing in a cut of at least 25 basis points (bps) at the U.S. central bank's September meeting, according to CME's FedWatch Tool. Against the Japanese yen , the dollar strengthened 0.22% to 158.37.Investors are still closely watching the yen after Tokyo's suspected intervention last week disrupted the popular carry trade. Strong resistance can be seen at 158.77(38.2%fib), an upside break can trigger rise towards 160.23(23.6%fib). On the downside, immediate support is seen at 157.63 (50%fib), a break below could take the pair towards 156.42 (61.8%fib).
Equities Recap
European shares fell on Tuesday as commodity-linked stocks tracked declining prices and luxury brands fell after Hugo Boss' dour annual forecast, while markets also assessed the chances of Donald Trump winning the U.S. presidential race.
UK's benchmark FTSE 100 closed down by 0.22 percent, Germany's Dax ended down by 0.39 percent, France’s CAC finished the day down by 1.86 percent.
Wall Street stocks rose and the Dow Jones Industrial Average hit an all-time closing high on Tuesday after U.S. retail sales data supported the view that the Federal Reserve is approaching its easing cycle, reining in inflation while avoiding a recession.
Dow Jones closed down by 1.85% percent, S&P 500 closed up by 0.64 % percent, Nasdaq settled up by 0.21% percent.
Commodities Recap
Gold prices jumped more than 1% to a record high on Tuesday, as investors flocked to the safe-haven asset after comments from Federal Reserve officials cemented expectations of a U.S. interest rate cut in September.
Spot gold gained 1.8% to $2,464.82 per ounce by 2:18 p.m. ET (1818 GMT).U.S. gold futures settled 1.6% higher to $2,467.80 per ounce.
Oil prices settled more than 1% lower on Tuesday, the third straight day of losses, on worries of a slowing Chinese economy crimping demand, though declines were stemmed by a growing consensus the U.S. Federal Reserve could begin cutting its key interest rate as soon as September.
Brent futures closed down $1.12, or 1.3%, at $83.73 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $1.15, or 1.4%, to $80.76.
