EUR/USD
EUR/USD is trading better bid near 1.0850 in the European morning on Tuesday. The pair stays supported amid a broadly subdued US Dollar and hawkish comments from ECB President Lagarde. The focus now shifts to the high-impact US economic data.
GBP/USD
GBP/USD is keeping its range trade intact below 1.2700 early Tuesday. A softer US Dollar and a cautious market mood are contributing to the bull-bear tug-of-war, as traders await the speeches from the BoE and the Fed policymakers alongside the US macro news.
USD/JPY
Most Asian currencies rose slightly on Tuesday, taking some relief from mild declines in the dollar before a key inflation reading which is set to offer more cues on U.S. interest rates this week. The Japanese yen was among the better performers for the day, rising 0.2% from its weakest level in over three months after consumer price index inflation read slightly higher than expected for January.
AUD/USD
The AUD/USD slid 0.35% on Monday amid a mixed market mood and a rise in US Treasury bond yields. Investors bracing for the release of crucial economic data in the United States (US) and Australia were the main reason behind the pair’s price action, even though the Greenback posted solid losses. Nevertheless, as the Asian session begins, the pair exchanges hands at 0.6538, down 0.03%.
NZD/USD
The NZD/USD pair remains under some selling pressure for the second straight day on Tuesday and drops to a one-week low, around mid-0.6100s during the Asian session. Spot prices, however, recover a few pips from the daily trough in the wake of a modest US Dollar (USD) downtick and currently trade around the 0.6165 region, down just over 0.10% for the day.
USD/CAD
USD/CAD continues to lose ground on the subdued US Dollar (USD), which could be attributed to the lower US Treasury yields. The USD/CAD pair inches lower to near 1.3500 during the Asian session on Tuesday.
USD/CHF
The USD/CHF pair consolidates in a narrow trading range during the early European session on Tuesday. Investors seem to prefer to wait on the sidelines ahead of key events from the US and Swiss dockets. Meanwhile, the decline of the US Dollar (USD) weighs on the pair. At press time, USD/CHF is trading at 0.8798, adding 0.02% on the day.
CRUDE OIL
Oil prices gained on Monday as European diesel demand, constrained by Russian sanctions and shipping disruptions, pulled prices higher in a market jittery with U.S. refinery output limited by planned overhauls, analysts said.
GOLD
Gold price is attempting another run toward the two-week highs of $2,041 reached on Friday, as the US Dollar keeps its downbeat tone intact amid renewed weakness in the US Treasury bond yields and ahead of the top-tier US economic data.
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