EUR/USD
The EUR/USD pair trades with mild losses around 1.0915 during the early Asian session on Tuesday. Escalating trade war with further tariffs from US President Donald Trump on European Union goods weighs on the Euro (EUR). However, the weaker US Dollar (USD) amid the concerns over the economic slowdown in the United States and the hopes of the German fiscal deal might cap the downside for the major pair.
GBP/USD
GBP/USD retreats after gaining in the previous session, hovering around 1.2970 during Asian trading on Tuesday. The pair faces pressure as the US Dollar (USD) attempts to recover losses from the last two sessions. However, downside movement may be limited, as the Greenback remains vulnerable amid rising trade tensions and growing economic concerns in the United States (US).
USD/JPY
USD/JPY sits at two-week high near 149.50 in the Asian session on Tuesday as renewed Middle East geopolitical jitters revive the safe-haven demand for the US Dollar. However, further upside appears elusive amid divergent BoJ-Fed expectations and rising trade tensions.
AUD/USD
AUD/USD has paused its upsurge, trading with caution in Tuesday’s Asian trading. Traders prefer to stay on the sidelines amid intensifying geopolitical risks in the Middle East, reducing the appeal of the higher-yielding Aussie. Meanwhile, the US Dollar finds its feet due to risk aversion.
NZD/USD
NZD/USD loses ground after gaining in the previous two sessions, trading around 0.5810 during Asian hours on Tuesday. The pair weakens as the US Dollar (USD) recovers amid rising geopolitical tensions in the Middle East.
USD/CAD
The USD/CAD pair edges higher during the Asian session on Tuesday and for now, seems to have snapped a two-day losing streak to over a one-week low, around the 1.4275 region touched the previous day. Spot prices now look to build on the intraday move up beyond the 1.4300 round figure, though the fundamental backdrop warrants some caution for bullish traders.
USD/CHF
The USD/CHF pair attracts some sellers to around 0.8845 during the early European session on Tuesday. US President Donald Trump’s unpredictable trade policy and a series of weak US economic data weigh on the US Dollar (USD) against the Swiss Franc (CHF). Later on Monday, the US February Retail Sales data will be published.
CRUDE OIL
Oil prices rose slightly on Tuesday, supported by instability in the Middle East as well as China’s stimulus plans and data, although global growth concerns, U.S. tariffs and Russia-Ukraine ceasefire talks curbed gains.
Gold price is reneweing record highs beyond $3,000 early Tuesday on intensifying geopolitical Middle East tensions. Israel resumes military operations against Hamas in Gaza after the group rejected US proposals for extending ceasefire. Further US-Iran tensions add to the latest leg up in the safe-haven Gold.
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