EUR/USD
The EUR/USD pair attracts some sellers during the Asian session on Tuesday, snapping a three-day winning streak and stalling its recent recovery from the lowest level since May 2025 set last week. Spot prices slip below the 1.1400 mark amid a firmer US Dollar (USD) and seem vulnerable to weaken further.
GBP/USD
The GBP/USD pair loses traction to around 1.3240 during the Asian trading hours on Tuesday. A potential rate hike from the US Federal Reserve (Fed) provides some support to the US Dollar (USD) against the British Pound (GBP). The US ADP employment data and the US Nonfarm Payrolls (NFP) data will take center stage later this week.
USD/JPY
The USD/JPY pair surges past the critical 162.00 psychological threshold, hitting a fresh four-decade high during the Asian session on Tuesday. However, expectations of a possible intervention by Japanese authorities cap further upside.
AUD/USD
AUD/USD extends its decline for a third consecutive day on Tuesday, trading near 0.6870 during Asian hours. The Australian Dollar (AUD) remains subdued following the release of the Reserve Bank of Australia’s (RBA) latest meeting minutes and key Purchasing Managers’ Index (PMI) data from China.
NZD/USD
The NZD/USD pair attracts some sellers during the Asian session on Tuesday, though it lacks bearish conviction and remains confined in a familiar range held over the past week or so. Spot prices move little following the release of China’s official PMIs and currently trade just below mid-0.5600s, down 0.05% for the day.
USD/CAD
USD/CAD extends its gains for the second consecutive day, trading around 1.4230 during the Asian session on Tuesday. The commodity-linked Canadian Dollar (CAD) continues to struggle against the US Dollar (USD) under the weight of lower energy prices.
USD/CHF
USD/CHF recovers its recent losses from the previous day, trading around 0.8090 during the Asian hours on Tuesday. Traders await the KOF Swiss Leading Indicator due later in the day, which is expected to inch up to 98.2 in May, from 98.0 prior.
CRUDE OIL
Oil prices edged lower in early Asian trade on Tuesday as investors balanced hopes for renewed U.S.-Iran talks against lingering concerns over supply disruptions following fresh military exchanges between the two countries.
Gold (XAU/USD) recovers slightly from its lowest level since November 2025, touched during the Asian session, albeit it sticks to a negative bias for the second straight day on Tuesday. Against the backdrop of renewed Mideast tensions, mixed signals on US-Iran talks assist the US Dollar (USD) to attract some dip-buyers and stall its recent pullback from the highest level since May 2025. Apart from this, elevated expectations for Federal Reserve (Fed) interest rate hikes lend additional support to the USD and exert some downward pressure on the bullion.
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