EUR/USD
The EUR/USD pair edges lower to near 1.1415 during the early Asian session on Tuesday. The Euro (EUR) weakens against the US Dollar (USD) amid rising bets for further rate cuts from the European Central Bank (ECB) in June. Investors brace for further developments in US trade policy ahead of the release of highly anticipated US Nonfarm Payrolls (NFP) data on Friday.
GBP/USD
The GBP/USD pair attracts some sellers to near 1.3425 during the early Asian trading hours on Tuesday, pressured by a modest rebound of US Dollar (USD). Investors await a speech by Bank of England (BoE) official Dave Ramsden for fresh impetus.
USD/JPY
USD/JPY rebounds toward 142.50 in the Asian session on Tuesday as a positive risk tone undermines safe-haven assets such as the Japanese Yen while providing support to the US Dollar. However, the further upside appears elusive amid a Japanese holiday-led thin trading conditions.
AUD/USD
AUD/USD is retreating from near YTD highs but defends minor bids above 0.6400 early Tuesday. Hopes that the US will start to announce some trade deals remain supportive of a positive risk tone and renewed US Dollar demand, capping the pair’s upside.
NZD/USD
NZD/USD is retracing its recent gains from the previous session, trading around 0.5960 during the Asian hours on Tuesday. The US Dollar (USD) is finding support as optimism grows over easing US-China trade tensions. US President Donald Trump signaled openness to rolling back tariffs on China, while Beijing granted exemptions on certain US imports—moves that have sparked hopes of a potential resolution to the prolonged trade conflict between the world’s two largest economies.
USD/CAD
The USD/CAD pair remains under pressure for the second straight session, hovering around 1.3820 during Asian trading hours on Tuesday. The pair weakens as the Canadian Dollar (CAD) gains modestly, supported by early election results in Canada.
USD/CHF
During Monday’s session, USD/CHF was seen trading near the lower end of its daily range, moving around the 0.82 area after dropping by nearly half a percent
CRUDE OIL
Oil prices fell in Asian trade on Tuesday amid persistent uncertainty over U.S. trade tariffs dampened the economic outlook and sparked persistent concerns over slowing demand.
Gold price loses ground to around $3,335 during the early Asian session on Tuesday. The yellow metal edges lower amid a modest rebound of the US Dollar and a softening in tensions between the United States and China.
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