EUR/USD
The EUR/USD pair gathers strength to near 1.0470 during the Asian trading hours on Tuesday. The Euro (EUR) gains ground after the conservative alliance made up by the Christian Democratic Union (CDU) and its allies the Christian Social Union (CSU) is set to lead Germany again following the federal election on Sunday, bringing an end to a period of political instability that has dogged Berlin for months.
GBP/USD
The GBP/USD pair gains ground after registering losses in the previous two successive sessions, trading around 1.2630 during the Asian session on Tuesday.
USD/JPY
USD/JPY returns to the red and heads toward 149.50 in Tuesday’s Asian trading. Risk-off flows intensify on mounting fears of a US-China trade war underpinning the haven demand for the Japanese Yen at the expense of the US Dollar. Hawkish BoJ bets also aid the pair’s downside.
AUD/USD
AUD/USD is on the defensive near 0.6350 in Asian trading on Tuesday amid some follow-through US Dollar rebound. Moreover, a weaker risk tone undermines the Aussie as traders digest the latest strictors controls planned by US President Trump on China’s chips market.
NZD/USD
The NZD/USD pair continues its losing streak for the third consecutive day, trading around 0.5730 during Asian hours on Tuesday. This depreciation comes amid a downbeat market sentiment following US President Donald Trump’s announcement to proceed with tariffs on Canada and Mexico.
USD/CAD
The USD/CAD pair trades with mild gains near 1.4265 during the late American session on Monday. The Consumer Confidence gauged by the Conference Board will take center stage later today. Also, the Federal Reserve (Fed) Michael Barr, Thomas Barkin and Lorie Logan are set to speak on the same day.
USD/CHF
The USD/CHF pair extends its losses for the fourth successive session, trading around 0.8960 during the Asian hours on Tuesday.
CRUDE OIL
Oil prices rose for a second day on Tuesday as the U.S. imposed fresh sanctions on Middle Eastern producer Iran that increased concerns supply might tighten.
Gold price consolidates the previous rebound to fresh record highs of $2,956 in Tuesday’s Asian trading hours. Gold buyers take a breather before resuming the uptrend as trade war fears rekindle on fresh protectionism talks from US President Donald Trump and his team.
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