EUR/USD
EUR/USD trimmed recent bullish momentum, declining by one-half of one percent on Monday. Fiber declined in one of its worst trading days in the second half of the year after pan-EU Purchasing Managers Index (PMI) figures broadly missed expectations, while the US PMI data print faired only slightly better.
GBP/USD
GBP/USD extends its winning streak for the fifth consecutive session, trading around 1.3350 during the Asian hours on Tuesday. The pair maintains its position near its 31-month high level of 1.3359, recorded on Monday.
USD/JPY
USD/JPY has picked up fresh bids, approaching 144.00 in the Asian session on Tuesday. Amid an upbeat mood and broad US Dollar recovery, the pair finally finds some positive traction. However, the upside could be capped by the BoJ-Fed policy divergence. Fedspeak and US sentiment data eyed.
AUD/USD
The AUD/USD pair holds its position on Wednesday, following remarks from the Reserve Bank of Australia’s (RBA) Assistant Governor for Economics, Sarah Hunter. However, the Australian Dollar’s (AUD) losses may be limited as RBA Governor Michele Bullock maintained a hawkish outlook last week, emphasizing that it is too soon to consider rate cuts with elevated inflation.
NZD/USD
The NZD/USD pair, which rose to 0.6270 in Monday’s session, has broken out of a sideways range that had been in place for the past seven sessions. The pair has been consolidating between 0.6210 and 0.6240, but it has now broken above the upper bound of this range, suggesting that bullish pressure is building.
USD/CAD
The USD/CAD pair edges lower to near 1.3530 during the early Asian session on Tuesday. The weakness of the Greenback drags the pair lower. Investors will keep an eye on the US September Consumer Confidence data, along with the speech from the Federal Reserve’s (Fed) Governor Michelle Bowman and the Bank of Canada’s (BoC) Governor Tiff Macklem on Tuesday.
USD/CHF
The USD/CHF pair trades on a softer note around 0.8465 on Tuesday during the early European session. The Greenback remains under some selling pressure after the Federal Reserve’s (Fed) oversized interest rate cut last week.
CRUDE OIL
Oil prices rose on Tuesday on news of fresh monetary stimulus from top importer China, and concerns escalating tensions in the Middle East could hit supply from the key producing region, while a major hurricane loomed over the U.S., the world’s biggest crude producer.
Gold price extends its consolidative price move for the second straight day on Tuesday as bulls turn cautious after the recent rise to a fresh all-time peak touched the previous day amid slightly overbought conditions on the daily chart.
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