EUR/USD is battling 1.0600, retreating in the European morning on Tuesday. The US Dollar recovery amid souring risk sentiment is weighing on the pair. Traders stay on a cautious footing ahead of key Eurozone GDP and inflation data.
GBP/USD is extending the drop below 1.2150 early Europe on Tuesday. The pair is undermined by a broad US Dollar recovery, as renewed China growth worries dent risk sentiment and support the Greenback. US sentiment data awaited.
The USD/JPY pair regains positive traction during the Asian session on Tuesday and snaps a two-day losing streak to the 148.80 area, or a two-week low touched the previous day. The buying interest picks up pace after the Bank of Japan (BoJ) announced its policy decision, pushing spot prices to the 150.00 psychological mark, or a fresh daily high in the last hour.
The AUD/USD pair consolidates its recent gains during the early Asian session on Tuesday. The pair hovers around 0.6370 after retracing from the previous day’s high of 0.6384. The upbeat Australian data and risk-on sentiment lend some support to the Australian Dollar (AUD) ahead of the highly-anticipated Federal Reserve (Fed) meeting on late Wednesday.
The NZD/USD pair ticks lower during the Asian session on Tuesday and erodes a part of the previous day’s positive move, though lacks follow-through. Spot prices remain on the defensive below mid-0.5800s and react little to the disappointing release of Chinese PMI prints.
USD/CAD retraces recent losses post retreating from a yearly high, trading higher near 1.3840 during the Asian session on Tuesday. The pair could receive upward support on the back of downbeat Crude oil prices. The weaker Chinese Purchasing Managers’ Index (PMI) data could bring some pressure on the prices of Oil, which could reinforce the strength of the USD/CAD pair ahead of the policy decision from the US Federal Reserve (Fed) on Wednesday.
USD/CHF attempts to continue the winning streak that began on Tuesday, treading waters near 0.9030 during the Asian session on Tuesday. The USD/CHF pair receives upward support despite the lukewarm performance of the US Dollar (USD).
Oil prices rebounded in Asian trade on Tuesday, after a drop of more than 3% in the previous session, as worries over supply stirred by conflict in the Middle East offset dismal China data.
Gold price Is catching a breather below $2000 early Tuesday, having corrected sharply from near five-month highs on Monday. The market mood is turning sour after China’s official business PMIs revived growth concerns while investors stay cautious ahead of US tech earnings and the Fed verdict.
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