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Topline House Speaker Mike Johnson, R-La., canceled votes planned for Thursday before Democrats could force another vote on releasing the remaining Epstein files—accusing them of playing “political games”—sending the House into its summer recess early as President Trump faces continued political turmoil over the failure to release information about the notorious financier. Mike Johnson leaves a press conference in the U.S. Capitol on Tuesday. CQ-Roll Call, Inc via Getty Images Key Facts Johnson called the Democrats’ vote to release the remaining files on the disgraced financier a “sideshow” and insisted the “the American people are best served by putting an end” to the votes. The final votes before the recess are scheduled for Wednesday afternoon. Johnson’s announcement came after the Deputy Attorney General Todd Blanche announced that the Justice Department would meet with Ghislaine Maxwell, who is currently serving a 20-year prison sentence for charges including trafficking underage girls to Epstein. Meanwhile, Republicans on the House Oversight Committee also began taking steps to depose Maxwell, preparing a subpoena for her to testify before the committee. Key Background Johnson has spent much of the last few weeks managing the fallout from the Justice Department’s memo and announcement it would release no further files related to disgraced financier Jeffrey Epstein—a key promise President Donald Trump made at multiple points during his presidential campaign but has now backtracked from, instead saying a “hoax” is behind the outrage On Monday, Johnson insisted congressional Republicans were in lock-step in their approach to dealing with future Epstein files releases, but members of his own party continued to object. Rep. Marjorie Taylor Greene, R-Ga., broke with Republicans again Monday, warning leadership “the base will turn and there’s no going back.” The administration also faces flailing poll numbers, with only 17% of Americans, and just 35% of Republicans, surveyed in a recent Reuters/Ipsos poll approving of its handling of the release. How Were Democrats Trying To Force Votes? Last week, Democrats on the House Rules Committee forced a vote on an amendment requiring Congress to release the remaining Epstein files. The amendment was rejected by seven of the Republicans on the committee. One Republican, Rep. Ralph Norman, R-S.C., voted alongside Democrats to push for the release. Johnson said he would shut down any further votes Monday, insisting Republicans would not allow Democrats to use another Epstein vote as a “battering ram.” However, Johnson still faces a new bipartisan move that could force a vote when the House returns from recess. One Republican, Rep. Thomas Massie, R-Ky., introduced a bipartisan discharge petition alongside Rep. Ro Khanna, D-Calif., which would force a floor vote on the complete release of the files. The discharge petition requires a majority of the House signing onto for approval, and Republicans control the chamber only with a slim majority. Speaking to NBC News, Massie predicted the bill would gain momentum over the recess. “I think, when we return in September, we’ll get Phase 2 of the Epstein files because we’ll get … every Democrat and at least a dozen Republicans who want transparency and justice,” the Kentucky congressman said. But Johnson criticized Massie as “the one trying to bite Republicans,” later adding “I don’t understand Thomas Massie’s motivation, I really don’t. I don’t know how his mind works, I don’t know what he’s thinking.” Read More

Topline House Republicans are preparing to subpoena Jeffrey Epstein’s co-conspirator Ghislaine Maxwell as the Justice Department’s decision not to release documents detailing its Epstein investigation have divided Republicans and caused a break between President Donald Trump and his base. Donald Trump, Melania Trump, Jeffrey Epstein, and Ghislaine Maxwell pose together at Mar-a-Lago in … More Palm Beach, Florida, February 12, 2000. (Photo by Davidoff Studios/Getty Images) Getty Images Key Facts The GOP-led House Oversight Committee on Tuesday advanced a motion to subpoena Maxwell and depose her “as expeditiously as possible,” a committee aide said in a statement to Politico. The motion comes as some Republicans continue to call for the release of the Epstein files despite Trump’s insistence that his supporters drop the issue—Rep. Tim Burchett, R-Tenn., who sponsored the motion, said in a statement to Politico “this deposition will help the American people understand how Jeffrey Epstein was able to carry out his evil actions for so long without being brought to justice.” Maxwell, who is serving a 20-year sentence for her role in Epstein’s sex trafficking scheme, is garnering renewed attention in the wake of the controversial Justice Department decision. Earlier Tuesday, Deputy Attorney General Todd Blanche said he is also hoping to meet with Maxwell, at Attorney General Pam Bondi’s direction, to ask her for additional information about other Epstein associates who may have committed crimes. Tuesday’s motion came just before House Speaker Mike Johnson, R-La., cancelled votes planned for Thursday and sent the House into recess early Tuesday to avoid Democrats forcing a vote a bipartisan push to compel Congress to decide whether to release additional Epstein files. Crucial Quote “Was I a little ticked off he said that stuff? Sure, I was, but I’m a big boy, ma’am,” Burchett told ABC News, referring to Trump’s comments that people still calling for the release of the Epstein files are “foolish.” Tangent Maxwell’s attorney, David Oscar Markus, told Forbes in a statement she is in discussions with the Justice Department and said Maxwell “will always testify truthfully,” adding, “We are grateful to President Trump for his commitment to uncovering the truth.” Key Background Facing unrelenting backlash from his base, Trump’s administration has taken a series of actions in recent days widely viewed to be ways of distracting attention from the Epstein saga. On Monday, the Justice Department released additional documents related to its investigations into former Secretary of State Hillary Clinton’s private email server and Martin Luther King Jr.’s death. Trump on Sunday also went on a Truth Social posting spree, including sharing artificial intelligence videos and images showing former President Barack Obama being arrested. He also threatened to block construction of a new Washington Commanders football stadium in Washington, D.C. if the team doesn’t change its name back to the Redskins. Last week, Trump ordered the Justice Department to release select grand jury testimony in its Epstein probe, a move some MAGA figures, including Rep. Marjorie Taylor Greene, R-Ga., rejected as an inadequate attempt to appease those in his base criticizing his handling of the Epstein documents. Further Reading Top DOJ Official Will Meet With Ghislaine Maxwell Amid Epstein Files Drama (Forbes) Speaker Johnson Shuts Down House Until September Because Of Epstein (Forbes) Why Trump’s Epstein Case Against Wall Street Journal Could Backfire On Him (Forbes) Read More

Topline President Donald Trump formally sued The Wall Street Journal and News Corp founder Rupert Murdoch on Friday for publishing a piece making allegations about his friendship with Jeffrey Epstein—but the effort could ultimately work against Trump’s interests by forcing him to turn over information about his relationship with the disgraced financier. Donald Trump, now-wife Melania Trump, Jeffrey Epstein, and Ghislaine Maxwell pose together at … More Trump’s Mar-a-Lago club in Palm Beach, Florida, on February 12, 2000. Getty Images Key Facts Trump sued The Wall Street Journal, Murdoch and the journalists who wrote the story about a “bawdy” letter Trump allegedly sent Epstein for his 50th birthday, which reportedly included a drawing of a naked woman and Trump telling Epstein, “Happy Birthday — and may every day be another wonderful secret.” The president alleges the newspaper and its employees defamed him by publishing the story, which Trump maintains is false, and by “falsely represent[ing]” the letter “as fact,” with Trump claiming the reporters and Murdoch reported on the letter despite knowing it didn’t exist. The Journal is likely to next ask the court to dismiss the lawsuit, but if that request gets rejected and the case moves forward, it will then go to discovery, meaning both Trump and the Journal can seek evidence from the other party that could help their case. It’s “reasonable” to expect the “Journal would then seek information from Trump about the nature of his relationship with Jeffrey Epstein,” Katie Fallow, deputy litigation director at the Knight First Amendment Institute, told Forbes, noting that could include any communications Trump had with Epstein or records detailing their friendship. The specific information the Journal could seek will likely depend on the claims it makes in its court filings in the case—which haven’t been submitted yet—Fallow said, but noted the “general rule” in defamation cases is that parties “can seek discovery of anything that is relevant to a claim or defense raised in a proceeding in a lawsuit.” That means depending on the claims the Journal makes in its defense, any evidence it tries to get from Trump in discovery “could go broader than just about this letter” and provide additional information about the president and Epstein’s relationship, Fallow said. Crucial Quote “I would think that [the Journal’s] attorneys … would say we want to, in order to determine whether anything here was false, see the context of the relationship between Trump” and Epstein, Fallow told Forbes about what evidence the newspaper could try to get during the discovery phase. “But it would sort of really depend on the specific request.” What Has The Wall Street Journal Said? The Wall Street Journal and Murdoch have not commented at all on whether they intend to pursue broad discovery against Trump in the case, and have not yet submitted any court filings detailing their legal arguments. A spokesperson for the Journal’s parent company Dow Jones said in a statement the company “[has] full confidence in the rigor and accuracy of our reporting” and “will vigorously defend against any lawsuit.” How Long Will The Defamation Case Take To Play Out? If the lawsuit goes to the discovery phase, it will likely take years to play out and for any documents to become public. The case could also then go to trial after the discovery phase concludes, with Trump’s complaint requesting a jury trial to determine whether or not he was defamed. That being said, the litigation could also be resolved more quickly, if the court decides the case should be dismissed or the Journal reaches a settlement with Trump. Big Number $10 billion. That’s how much Trump is asking the Wall Street Journal to pay in damages if he wins the lawsuit. What Does Trump’s Letter To Epstein Allegedly Say? According to the Journal’s reporting, Trump’s birthday letter to Epstein features dialogue for an imagined conversation between Trump and Epstein, saying: “Voice Over: There must be more to life than having everything. Donald: Yes, there is, but I won’t tell you what it is. Jeffrey: Nor will I, since I also know what it is. Donald: We have certain things in common, Jeffrey. Jeffrey: Yes, we do, come to think of it. Donald: Enigmas never age, have you noticed that? Jeffrey: As a matter of fact, it was clear to me the last time I saw you. Donald: A pal is a wonderful thing. Happy Birthday — and may every day be another wonderful secret.” The Journal did not publish the letter in full, and Trump has strongly denied its existence and that he drew the accompanying drawing, saying he “never wrote a picture.” Surprising Fact Trump’s defamation lawsuit comes after Epstein associate Ghislaine Maxwell previously sued Epstein accuser Virginia Giuffre for defamation. That lawsuit led to a slew of documents regarding Epstein and others he associated with becoming public, after the Miami Herald successfully petitioned the court to have documents unsealed. Julie K. Brown, the Herald journalist who first uncovered the allegations against Epstein, noted the parallels between the two cases, writing on social media Friday, “We sued to unseal the docs that revealed the extent of Epstein & Maxwell’s sex trafficking operation. The lawsuit by Trump opens the door to learning the extent of his friendship with Trump.” Will Evidence In Trump’s Defamation Case Become Public? While any evidence that gets filed in the defamation case is likely to be filed under seal, meaning it’s not available for the public to view, parties including the Journal or other media organizations could ask the court to unseal the documents and make them public. Federal law favors such information being in the public interest unless parties can prove there’s a compelling reason for it to remain under seal, such as protecting trade secrets, The New York Times notes,, and media outlets have sought to unseal records in cases that are particularly high-profile, citing public interest in the case. That’s what happened in Maxwell’s case against Giuffre, as well as in

Topline “Superman” dominated the domestic box office for a second-straight weekend, bringing in an estimated $57 million—turning the film into a much-needed hit for the stagnating DC Universe brand and Warner Bros. James Gunn’s reboot of the iconic super hero starring David Corenswet has now grossed an estimated … More $400 million worldwide. Invision Key Facts “Superman” held on in the number one spot for the weekend of July 18, despite a standard second weekend decline of 54%, bringing in another $57 million at the domestic box office for a total of over $400 million worldwide, according to early box office estimates. Holdovers from the last month topped the box office charts, including “Jurassic World Rebirth,” which brought in an estimated $23 million, down from its $92 million opening two weeks ago. New releases “I Know What You Did Last Summer” and “Smurfs” earned the third and fourth slots over the weekend, but mostly fell short of their projected opening ranges. Apple Studios’ “F1,” now the tech giant’s biggest hit in theaters, held on in fifth place after grossing an estimated $9.6 million. Key Background “Superman” opened last weekend with an impressive $125 million at the domestic box office, beating worries that superhero fatigue and backlash from right-wing critics would alienate audiences. The film, directed by former “Guardians of the Galaxy” director James Gunn, is Warner Bros.’ attempt to reboot the DC Universe after years of flops, including last year’s “Madame Web” ($15.3 million) and “Kraven the Hunter” ($11 million). The film had an estimated budget of $225 million, The Wall Street Journal reported. The next major installment in Gunn and co-DC Studios head Peter Safran’s extended universe will be “Supergirl,” set to release in June 2026. How Did New Releases Fare? New releases this weekend failed to make an impact at the box office. Sony’s revival of “I Know What You Did Last Summer,” which saw the reunion of the 1997 original’s stars Jennifer Love Hewitt and Freddie Prinze Jr., opened with only $13 million. This was behind Box Office Pro’s predicted opening range of $15 million-$20 million for the slasher flick. Paramount’s “Smurfs” also lagged behind its predicted opening range, bringing in only $11 million. But Ari Aster’s “Eddington,” released by popular indie distributor A24, largely met its expected range after bringing in about $4.2 million. Read More

Have you heard of rain gardens? They’re one of the biggest trends in gardening right now, the darling of social media feeds, and an eco-friendly project that virtually anyone can pull off. But is it right for your home? We talked to experts to find out more about the pros & cons.  Meet the experts Ryan Fitzgerald, Realtor® and owner of Raleigh Realty in North Carolina Loren Taylor, landscape expert and owner of Soothing Company, an online retailer or water fountains, hammocks, and other soothing things in Washington Ursula Chanse, Senior Director of Bronx Green-Up and Community Horticulture at The New York Botanical Garden in New York What the experts have to say about rain gardens Our experts agree: While rain gardens are not something buyers ask for by name, there’s a growing interest in sustainable landscaping. “Buyers are not yet showing up asking for eco-features first, but when these features are presented in a way that blends beauty and practicality, they notice—and they remember,” explains Fitzgerald. He adds that this is especially true for buyers who have experienced drainage issues or higher water bills in the past and for families with children and pets. Taylor observes that in states like Colorado, Utah, and Arizona, where water is limited, “the idea of managing water efficiently and using every drop well resonates with many homeowners.” He adds that rain gardens are also low maintenance, which is appealing to almost everyone. “People are increasingly looking for outdoor spaces that do not demand constant watering or mowing,” he adds. “They want to spend their time enjoying their garden, not fighting with it every weekend.” Loading… Rain gardens are an eco-friendly, low-maintenance answer to landscaping. FAQs about rain gardens What exactly is a rain garden? Part of a larger rainscaping trend, a rain garden is a recessed area of native plants, trees, and shrubs designed to collect and temporarily hold stormwater before allowing the water to be reabsorbed into the ground.  What are the advantages of a rain garden? The main benefit of a rain garden is that it reduces runoff, which contains contaminants that pollute waterways and degrade drinking water. They can also help prevent flooding, reduce standing water in a yard, improve soil quality, and attract butterflies, birds, and other wildlife. And it can contribute to curb appeal.  “If the rain garden looks like a muddy ditch, it will turn people off,” Fitzgerald says. “But if it blends seamlessly with native flowers and is clearly a part of a thoughtful landscape, buyers often ask about it and appreciate that it helps with water runoff during heavy storms.”  How much does it cost to add a rain garden? As with all landscaping, pricing can vary greatly depending on the size of the garden, the type of plants, any additional soil needs, and whether you hire a pro or decide to do it yourself. Estimates run the gamut from $3 to $40 per square foot.  One potential cost savings to consider: Because of the positive environmental impact of rain gardens, some municipalities provide incentives to homeowners and businesses to create them. These include rebates, tax credits, and discounts. These incentives are highly regional, so you’ll need to check your state and even county for eligibility.  What’s the best place for a rain garden?  Look for an area where water flows or converges but not one that remains wet or marshy. To assess your drainage, perform a percolation test in the area you’d like to plant: Dig a hole six to eight inches deep and fill it with water. If the hole has completely drained within 24 hours, your site is appropriate.  Are there any areas to avoid? Your rain garden should be at least 10 feet from the foundation of your house and at least 25 feet away from septic systems. Avoid planting on a steep slope, and it’s also a good idea to call 811 before you dig to double-check you won’t disturb any buried utility lines.  How much space do you need for a rain garden? Rain gardens can be any size or shape you want, although oval and kidney-shaped ones are very popular. If you don’t have much green space, you can even create a mini rain garden in a planter! As a starting point, Chanse recommends the Rain Garden Alliance calculator, which will help you determine your ideal size. It takes into account the square footage of your house, the number of downspouts draining into it, the soil type, and the slope.  Do rain gardens attract mosquitos? Rain gardens serve as wildlife habitats, attracting birds and other pollinators—but luckily, not mosquitoes. If your rain garden is working properly (draining within 24 hours) mosquitoes won’t have a chance to breed.  Do they require a lot of maintenance? Because rain gardens contain plants that are native to your region, they require only basic weeding and pruning. That said, you should plan on watering your rain garden when it dries out. If you have a water source (like a downspout) that could get blocked, you’ll want to make sure it remains clog-free.   The realtor.com® editorial team highlights a curated selection of product recommendations for your consideration; clicking a link to the retailer that sells the product may earn us a commission. Read More

The Dollar holds marginal gains with investors cautious amid growing trade uncertainty. Risk appetite remains subdued as the trade talks with the European Union and Japan remain stalled. The DXY trades 0.15% above Monday’s lows, but still 1% below last week’s highs.against The US Dollar is trading moderately higher against its main peers on Tuesday, as US Treasuries rebound on the back of renewed concerns about global trade uncertainty. Still, it remains well below last week’s highs. The negotiations with the European Union and Japan continue, but remarks from Eurozone negotiators suggest that the growing demands from the US are frustrating the deal. The bloc is preparing retaliatory measures, including wide-ranging anti-coercion measures targeting US services, public tenders, and investments. Regarding Japan, the top negotiator, Akazawa, is now in Washington to unblock the negotiations, but the deal remains elusive. Trump increased pressure on Monday, complaining about the low sales of American cars and US-produced rice in Japan, and Treasury Secretary Bessent affirmed that he is focused on the quality of the agreements, rather than on the timing. Against this background, caution is prevailing, and major FX crosses trade within previous ranges. The DXY, which measures the US Dollar against the most-traded currencies, is trading near 97.50, after having bounced at 97.25 on Monday, yet about 1% below last week’s highs at 98.50. (This story was corrected on July 22 at 09:17 GMT to say that the DXY is moving moderately higher on Tuesday and not on Thursday, as previously reported.) US Dollar FAQs The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away. The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback. In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar. Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Read More

Recent UK data releases have not endorsed the market’s tentative speculation on faster Bank of England easing, and two-year GBP swap rates are around 8bp above last week’s lows. Expectations are firmly back on a cut in August and one in December – which is also our call, ING’s FX analyst Francesco Pesole notes. No meaningful impact on the pound this morning “With the rewidening of the EUR:GBP short-term rate differential in favour of the pound over the past couple of weeks, EUR/GBP’s resilience suggests markets are attaching some risk premium to the pair, which we currently estimate to be 0.8% overvaluation. That may appear contained, but it’s already close to the upper bound of the 1.5 standard deviation band that would signal stretched misvaluation.” “That GBP risk premium is partly because of the euro’s idiosyncratic strength (due to its appeal as a reserve currency) but may also embed some UK budget concerns. Those were fuelled further this morning as the UK unveiled larger borrowing for June (£20.7bn) than expected by the UK fiscal watchdog. There is no meaningful impact on the pound this morning, but that probably raises the chances even further of tax hikes this autumn, a prospect that can keep GBP upside capped.” Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Read More

In recent weeks, I have often read that the inflation shock triggered by US tariffs will not be too severe, and that even if it is, it will only be temporary, with the possibility of interest rate cuts by the Fed. This is either justified by survey-based inflation expectations that are no longer quite so high, or by subdued inflation figures, as in the case of the US president, Commerzbank’s FX analyst Michael Pfister notes. Inflation to reach around 3.5% in the coming year “Central bankers should probably refrain from assessing transitory inflation risks after misjudging the situation during and shortly after the pandemic. It is not at all easy to predict how transitory an inflation shock will ultimately be. The decisive factor is that the US dollar has appreciated enormously in recent years because the Fed has been one of the most cautious central banks. If inflation risks rose again, higher key interest rates were generally expected. This was the case when Donald Trump’s election became increasingly likely, for example, and inflation expectations rose significantly in view of the expected inflationary policy.” “Market expects inflation to reach around 3.5% in the coming year and interest rates to fall by over 100 basis points. Since the beginning of April, expectations have also tended to move sideways – although it should be noted that inflation expectations are continuing to shift further into the future, as inflation is being viewed here in one year’s time, starting from the rolling starting point.” “Even if the risky assumption that US inflationary pressure triggered by the trade war is temporary proves correct, this assumption is likely to influence market expectations. We are moving away from a Fed that actively responds to inflation expectations towards other central banks that are quicker to cut interest rates than raise them. This is another bad sign for the US dollar.” Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Read More

Euro (EUR) jumped above 1.17-handle overnight but there was no particular headline or data that drove the move. Pair was last seen at 1.1690, OCBC’s FX analysts Frances Cheung and Christopher Wong note. Bearish momentum on daily chart is fading “Broad USD slippage was the trigger. Bearish momentum on daily chart is fading while rise in RSI moderated. 2-way trade likely in absence of fresh catalyst. Resistance here at 1.1690 (21 DMA), 1.1820 levels. Support at 1.1620, 1.1520 (50 DMA).” “Key event this week – ECB meeting – but expectations are for no move (likely a non-event). Data to watch: prelim PMIs (Thursday), German IFO (Friday).” Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Read More

CFTC data shows net long positioning on EUR/USD at 15.6% of open interest since 15 July. That is the highest since January 2024, but still a relatively contained figure considering the pair is trading almost 10% above early-2024 levels. CFTC figures isolate speculative positioning, signalling that capital and hedging flows are playing a bigger role in the dollar’s weakness, ING’s FX analyst Francesco Pesole notes. Next cut remains expected only in December “Speculation on a potential no-deal scenario in US-EU trade negotiations is gathering pace. Reports indicate that some EU countries are pushing for retaliatory measures as they see the chances of a trade deal faltering. The Trump administration has shown little tolerance for retaliatory measures, and there is a risk this could spiral (even if temporarily) into a tit-for-tat tariff escalation.” “The euro’s ability to maintain preference over the dollar amid tariff tensions will depend on the extent of any escalation and whether the EU emerges as a relative loser while other countries secure significant deals with the US.” “Currently, the euro is not facing domestic tariff-related pressure, and markets are not pricing in a more dovish ECB tone ahead of Thursday’s meeting; the next cut remains expected only in December. We do not see sufficient bullish momentum to push EUR/USD back to the highs of early July (near 1.180), with 1.160 appearing a more appropriate anchor than 1.170, given the risks of further hawkish repricing by the Fed.” Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Read More