EUR/USD
EUR/USD extends its gains for the third successive session, trading around 1.1530 during the Asian hours on Tuesday.
GBP/USD
The GBP/USD pair trades in positive territory around 1.3370 during the early Asian session on Tuesday. Fears of a slowdown in the United States (US) and concerns over the Federal Reserve (Fed) independence drag the US Dollar (USD) lower and create a tailwind for a major pair.
USD/JPY
USD/JPY languishes in seven-month lows near 140.00 in the Asian session on Tuesday. Trade war concerns, global recession fears, hopes for a US-Japan trade deal, and the divergent BoJ-Fed bets could continue to underpin the Japanese Yen while the US Dollar selling resumes.
AUD/USD
AUD/USD picks up fresh bids toward 0.6450 in the Asian session on Tuesday. The US Dollar fizzles its bounce and resumes downside amid uncertainty over Trump’s trade policies and the weakening confidence in the US economy. Concerns about the rapidly escalating US-China trade war could act as a headwind for the Aussie.
NZD/USD
The NZD/USD pair softens to near 0.5995 during the Asian trading hours on Tuesday. The New Zealand Dollar (NZD) edges lower against the US Dollar amid the escalating trade war tensions between the US and China. However, the downside for the pair might be limited as traders are concerned about the Federal Reserve’s (Fed) independence under the Trump administration.
USD/CAD
The USD/CAD pair loses ground to near 1.3835 during the early Asian session on Tuesday. The US Dollar (USD) weakens against the Canadian Dollar (CAD) amid fears of a slowdown in the US and concerns over the Federal Reserve’s (Fed) independence.
USD/CHF
The USD/CHF extended its losses for the third consecutive day as market mood shifted sour due to US President Donald Trump’s attacks on Fed Chair Jerome Powell, which investors saw as a threat to the independence of the US central bank. At the time of writing, the pair trades at 0.8080, down 0.06.
CRUDE OIL
Oil prices rose in Asian trading on Tuesday, recovering from a sharp 2% drop, as markets remained cautious amid global economic uncertainty driven by U.S. trade tariffs and President Trump’s efforts to overhaul the Federal Reserve.
Gold price continues to build on its record rally, closing in on the $3,500 mark in Asian trading on Tuesday. Investors continue to flock to safety in the traditional store of value, the Gold price, amid no confidence in the US Dollar and Trump’s attacks on Fed Chairman Powell.
Any information provided therein are indicative and subjective to the technical analysis method or trading patterns used and the timing of their release. Those are provided as general market information and/or market commentary and/or the publication of market/factual data and should not be construed as containing personal and/or other investment recommendation, and/or to be Investment Advice or independent Investment Research. As such, the legal and regulatory requirements in relation to independent investment research do not apply to this material and it is not subject to any prohibition on dealing ahead of its dissemination. For the full Risk Disclaimer click here.
