EUR/USD
The EUR/USD pair extends its two-day downside move to near 1.1630 during the Asian trading session on Tuesday. The major currency pair faces selling pressure as the US Dollar (USD) gains on hopes that the ongoing United States (US) government shutdown will end this week.
GBP/USD
The GBP/USD pair extends the decline to near 1.3390 during the Asian trading hours on Tuesday. The US Dollar (USD) strengthens against the Pound Sterling (GBP) on easing US-China trade tensions. Traders will closely watch the UK September Consumer Price Index (CPI) inflation data, which is due later on Wednesday.
USD/JPY
USD/JPY turns higher to retake 151.00 in the Asian session on Tuesday as the US Dollar remains hopeful ahead of US-China trade talks. Traders, however, opt to wait for Japan’s parliamentary vote on a new PM before placing aggressive bearish bets around the Japanese Yen.
AUD/USD
AUD/USD trades in a tight band above 0.6500 in the Asian session on Tuesday amid a modest US Dollar uptick, a positive risk tone and a likely US-Australia minerals deal. Bets for more rate cuts by the RBA act as a headwind for the Aussie amid escalating US-China trade spat, capping the pair upside.
NZD/USD
The NZD/USD pair attracts some buyers near 0.5740 during the early Asian session on Tuesday. Easing concerns over the US-China trade tensions provides some support to the China-proxy New Zealand Dollar (NZD) against the US Dollar (USD). Federal Reserve (Fed) Bank Governor Christopher Waller is scheduled to speak later on Tuesday.
USD/CAD
The USD/CAD pair edges higher to near 1.4045 during the Asian trading hours on Tuesday. The Canadian Dollar (CAD) softens against the US Dollar (USD) on a decline in crude oil prices. The Canadian Consumer Price Index (CPI) inflation data for September will be the highlight later on Tuesday. Also, the Federal Reserve (Fed) Bank Governor Christopher Waller is scheduled to speak.
USD/CHF
The USD/CHF pair ticks up to near 0.7930 during the Asian trading session on Tuesday. The Swiss Franc pair edges higher as the US Dollar (USD) extends its two-day recovery move amid easing trade frictions between the United States (US) and China.
CRUDE OIL
Oil prices fell on Tuesday on concerns about excess supply and risks to demand stemming from tensions between the U.S. and China, the world’s top two oil consumers, even as President Donald Trump said he expected to reach a trade deal.
Gold’s parabolic rally once again stalls near $4,380 as profit-taking seeps in ahead of US-China trade talks. US Dollar looks to revive its recovery amid US-China trade woes, risk flows, and extended US shutdown. Gold could find fresh buyers at the channel resistance-turned-support near $4,285, if the correction extends.
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