EUR/USD
EUR/USD extends its losses for the second successive session, trading near 1.0460 during the Asian hours on Tuesday. This downside could be attributed to the improved US Dollar (USD) amid rising Treasury yields.
GBP/USD
GBP/USD breaks its five-day winning streak, trading around 1.2600 during Tuesday’s Asian session. Traders are awaiting UK employment data set to be released later in the day. The Claimant Count Change for January is expected to rise to 10K new unemployment benefit claimants, up from the previous 0.7K. The ILO Unemployment Rate is also forecast to increase to 4.5% from 4.4%.
USD/JPY
USD/JPY rebounds from over a one-week low to regain 152.00 early Tuesday. The optimism over a delay in Trump’s reciprocal tariffs and a US Dollar rebound underpin the pair. However, the upside could be capped amid increased BoJ rate hike bets this year.
AUD/USD
AUD/USD is back above 0.6350, recovering losses as RBA Governor Bullock’s press conference gets underway. The RBA delivered on the expected interest rate cut to 4.1% while maitaining its cautious approach on further policy easing.
NZD/USD
The NZD/USD pair attracts some sellers to around 0.5710 during the early Asian session on Tuesday. The rising expectation that the Reserve Bank of New Zealand (RBNZ) will deliver a jumbo-sized rate cut at the February meeting on Wednesday weighs on the New Zealand Dollar (NZD).
USD/CAD
The USD/CAD pair flat lines near 1.4185 during the late American session on Monday. The US Dollar Index (DXY) trades sideways amid the inactivity in the US markets due to the Washington’s Day holiday. Traders will keep an eye on the Canadian Consumer Price Index (CPI) inflation data, which is due later on Tuesday.
USD/CHF
The USD/CHF pair extends its decline to around 0.8990 during the early Asian session, pressured by the weaker US Dollar (USD). Later today, the Swiss Industrial Production will be released.
CRUDE OIL
Oil prices strengthened on Monday as an attack on an oil pipeline pumping station in the Caspian Sea slowed flows from Kazakhstan, while investors monitored developments of a possible Moscow-Kiev ceasefire agreement that could ease sanctions and increase global supplies.
Gold price is treading water near $2,900 early Tuesday, struggling to build on the previous rebound. Gold buyers turn cautious amid a broad-based US Dollar rebound, bracing for the much-awaited US-Russia bilateral talks in Saudi Arabia.
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