EUR/USD
EUR/USD churned chart paper near the familiar 1.1300 handle to kick off a fresh trading week. The Fiber has been stuck in a choppy consolidation phase as Euro traders struggle to kick off a new push in either direction.
GBP/USD
GBP/USD snapped a near-term losing streak, pumping the breaks and holding steady near the 1.3300 handle to kick off a fresh trading week. Cable remains down from recent multi-year highs, but price action has pushed into a holding pattern ahead of key showings from both the Federal Reserve (Fed) and the Bank of England (BoE).
USD/JPY
USD/JPY is back on the bid near 144.00 in Tuesday’s Asian session, capitalizing on the renewed US Dollar upswing. Weak Asian forex exchange and hopes of some US trade deals lift the sentiment around the Greenback, driving the pair northward. The BoJ’s dovish pause last week adds to the pair’s rebound.
AUD/USD
AUD/USD is holding losses near 0.6450 in Asian trading on Tuesday, hurt by a modest US Dollar uptick, disappointing Australian Building Permits data and China’s Caixin Services PMI. Asian forex market instability revive the USD demand amid impending US-China trade talks and ahead of the Fed verdict.
NZD/USD
NZD/USD is retreating around 0.5960 during Tuesday’s Asian session after two consecutive days of gains. The pullback follows a decline in the New Zealand Dollar (NZD), pressured by disappointing Chinese economic data.
USD/CAD
The USD/CAD pair edges higher for the second consecutive day on Tuesday, though it lacks strong follow-through buying and remains confined in a familiar range held over the past two weeks or so. Spot prices currently trade around the 1.3830 region, up less than 0.5% for the day amid a combination of diverging forces.
USD/CHF
The USD/CHF extended its losses for the second straight day, and it is down over 0.46%, trading at 0.8221.
CRUDE OIL
Oil prices rebounded over 1% on Tuesday with technical rebound and dip buying after a drop in prior session by OPEC+ decision to accelerate increases in output, although concerns about the market surplus outlook persisted.
Gold price attracts some follow-through buyers for the second straight day and jumps to a nearly two-week high, around the $3,381-3,382 area during the Asian session on Tuesday. Despite signs of easing US-China trade tensions, investors remain on edge in the wake of US President Donald Trump’s erratic trade policies.
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