EUR/USD
EUR/USD kicked off another trading week with a decline back into familiar near-term lows, flubbing a fresh run at the 1.0600 handle and backsliding into 1.0500, shedding nearly eight-tenths of a percent on Monday. US Purchasing Managers Index (PMI) figures beat the street but still came in below the 50.0 contraction level, bolstering the safe haven Greenback.
GBP/USD
GBP/USD backslid below the 1.2700 handle on Monday. Another US Nonfarm Payrolls (NFP) week is underway, and the economic calendar is littered with plenty of US jobs preview figures in the runup to Friday’s bumper job additions report. UK data releases are limited this week, although Bank of England (BoE) Governor Andrew Bailey will be making an appearance on Wednesday via a pre-recorded interview at an event hosted by the Financial Times.
USD/JPY
USD/JPY bounces back to test 150.00 in the Asian session on Tuesday. The return of risk-off flows and a revival in the US Dollar demand underpin the pair. However, any meaningful upside seems limited in the wake of rising bets for another BoJ interest rate hike later this month.
AUD/USD
AUD/USD is falling back toward 0.6450 in Tuesday’s Asian trading. The pair is undermined by the widening Australian Current Account deficit and a renewed US Dollar uptick as risk sentiment deteriorates on China’s economic concerns and looming Trump’s tariffs threat. Focus shifts to top-tier US economic data for fresh impetus.
NZD/USD
The NZD/USD pair loses traction to around 0.5880 on Tuesday during the Asian trading hours. The New Zealand Dollar (NZD) weakens amid the US President-elect Donald Trump’s threats of further tariffs. Investors await the US JOLTs Job Openings for October, which are due later on Tuesday, along with the speeches from the Federal Reserve’s (Fed) Adriana Kugler and Austan Goolsbee.
USD/CAD
The USD/CAD pair trades flat near 1.4045 during the early Asian session on Tuesday. However, Trump’s threats of further tariffs and renewed US Dollar (USD) demand could provide some support to the pair. The US JOLTs Job Openings for October are due later on Tuesday. The Federal Reserve’s (Fed) Adriana Kugler and Austan Goolsbee are scheduled to speak.
USD/CHF
The USD/CHF pair loses ground to near 0.8825 during the early Asian session on Tuesday, weighed by the softer US Dollar (USD) broadly. The encouraging US economic data and the cautious stance from the US Federal Reserve (Fed) might support the USD in the near term.
CRUDE OIL
Oil prices inched down amid mixed market signals on Tuesday, with traders awaiting the outcome of an OPEC+ meeting this week.
Gold price is nursing losses below $2,650 in Asian trades on Tuesday, though remaining in the recent range, awaiting the key US employment data for further trading directives. The US JOLTS Job Openings data will set off the critical week of top-tier labor data, offering hints on the US Federal Reserve’s future interest rate cuts.
Any information provided therein are indicative and subjective to the technical analysis method or trading patterns used and the timing of their release. Those are provided as general market information and/or market commentary and/or the publication of market/factual data and should not be construed as containing personal and/or other investment recommendation, and/or to be Investment Advice or independent Investment Research. As such, the legal and regulatory requirements in relation to independent investment research do not apply to this material and it is not subject to any prohibition on dealing ahead of its dissemination. For the full Risk Disclaimer click here.
