EUR/USD
The EUR/USD pair halts its five-day losing streak, trading around 1.0250 during Tuesday’s Asian session. A closer look at the daily chart suggests a continued bearish trend, with the pair moving lower within a descending channel pattern.
GBP/USD
GBP/USD breaks its five-day losing streak, rebounding from its 15-month low of 1.2099, recorded on Monday. The GBP/USD pair remains above 1.2200 during the Asian trading hours on Tuesday as the Pound Sterling (GBP) gains ground amid improved investor confidence.
USD/JPY
USD/JPY is taking a breather around 157.50 early Tuesday after witnessing decent volatility following a dovish commentary from BoJ Deputy Governor Himino. A steady uS Dollar and a better market mood caps the pair’s downside ahead of US PPI data.
AUD/USD
AUD/USD stalls the overnight bounce to near 0.6200 despite reports of gradual Trump tariffs boost investors’ sentiment and rallying Chinese stocks. Bets that the Fed will pause its rate-cutting cycle, the RBA’s dovish shift, China’s economic woes and geopolitical risks act remain a headwind for the Aussie.
NZD/USD
The NZD/USD pair recovers from a two-year low to around 0.5600 during the early Asian session on Tuesday. The modest decline of the Greenback and encouraging Chinese economic data provide some support to the pair. Traders await the US Producer Price Index (PPI) for December, which is due later on Tuesday.
USD/CAD
The USD/CAD pair weakens to near 1.4355 during the early Asian session on Tuesday. A rise in crude oil prices amid further US sanctions to Russian oil underpins the commodity-linked Canadian Dollar (CAD) against the Greenback. Later on Tuesday, the US Producer Price Index (PPI) for December will take center stage.
USD/CHF
The USD/CHF pair softens to around 0.9160, snapping the five-day winning streak during the early European session on Tuesday. The pair edges lower on the back of the decline in the US Dollar (USD). However, the expectations that the US Federal Reserve (Fed) will approach interest rate cuts cautiously this year might cap the pair’s downside.
CRUDE OIL
Oil prices eased on Tuesday but remained near four-month highs as the impact of fresh U.S. sanctions on Russian oil remained the market’s key focus.
GOLD
Gold price is back on the bids in Asian trading on Tuesday, having found fresh buyers near the $2,660 region. Gold buyers try their luck again heading into the US inflation test, with the Producer Price Index slated for release later in the day.
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