EUR/USD
EUR/USD is trading near 1.0850, recovering ground in the early European session on Tuesday. A fresh leg down in the US Dollar exerts downside pressure on the pair amid an improvement in risk sentiment. Mid-tier US economic data and ECB-speak eyed.
GBP/USD
GBP/USD is gaining ground above 1.2650 in early Europe on Tuesday. The pair capitalizes on renewed US Dollar selling, as risk sentiment recovers, reducing the haven demand for the Greenback. The focus shifts toward the mid-tier US economic data.
USD/JPY
USD/JPY navigates in the upper end of the recent range north of the 151.00 mark amidst some renewed weakness in the Greenback and rising US yields.
AUD/USD
The Aussie Dollar (AUD) begins the Asian session virtually unchanged vs. the US Dollar after clocking solid gains of 0.41% on Monday. At the time of writing, the AUD/USD trades at 0.6539.
NZD/USD
The NZD/USD trades on a flat note around the 0.6000 mark during the early Asian session on Tuesday. The USD Index (DXY) retreats from the recent peaks and remains above the 104.00 mark. Investors await the US February Personal Consumption Expenditures Price Index (PCE) data, which might offer some hints about underlying momentum in inflation.
USD/CAD
USD/CAD trims intraday losses but remains in the negative zone, which could be attributed to an improved US Dollar (USD). The USD/CAD pair edges lower to 1.3580 during the Asian trading hours on Tuesday.
USD/CHF
USD/CHF climbs towards 0.8900 during the Asian hours on Tuesday, driven by higher US Treasury yields.
CRUDE OIL
Oil prices rose slightly in Asian trade on Tuesday as expectations of tighter supplies were boosted by more output curbs in Russia, although the United Nations’ adoption of an Israel-Hamas ceasefire put a lid on gains.
Gold price is treading water near $2,170 early Tuesday, consolidating the previous rebound to the $2,181 level. The US Dollar licks its wounds, market sentiment appears mixed and US Treasury bond yields fail to sustain Monday’s upswing.
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