Dollar Rises as Oil and Yields Climb, France Pushes Euro to Bottom Ahead of Fed Minutes
The Dollar is leading the majors into the FOMC minutes, with DXY at 102.401, up 0.55% at the time of writing, and the Dollar stronger against all seven major peers. Oil is holding above $100, long-end bond yields are climbing across major markets, and renewed stress in French government debt has pushed the Euro to the bottom of the currency table.
Euro Slides Again as French Bond Relief Lasts One Day, EUR/CAD Kisses 1.6000 Goodbye
Euro flipped from the strongest to the weakest major currency in a single session as French bond relief proved short-lived—the OAT-Bund spread widened back toward 137bp—and EUR/CAD has now broken decisively below 1.6000, with 1.5887 the next key test.
Silver’s Deficit May Be Narrowing, But 58.68–62.30 Will Decide the Next Move
Deutsche Bank sees Silver's physical deficit narrowing toward a possible 2027 surplus as solar demand intensity falls and vault inventories rebuild, but with Silver trading around 60.80, the next move still hinges on the near-term technical fight between 58.68 support and 62.30 resistance—and on Wednesday's FOMC minutes.
Brent Oil Drops Below $98, Easing Yields and French Stress as Euro Rebounds
Brent crude fell below $98 on Tuesday on improving Middle East supply availability, the planned G7 release of emergency stocks and Saudi Arabia’s unexpectedly aggressive cut to November crude prices for Asian buyers. Lower oil eased inflation-risk pressure, sovereign yields moved lower and the Dollar’s advance paused. EUR/USD rebounded to around 1.127 and the French-German 10-year spread narrowed back toward 130bp.
