EUR/USD
The EUR/USD pair attracts some buyers here to around 1.1745 during the Asian trading hours on Tuesday. The upbeat Eurozone Retail Sales data for May provides some support to the Euro (EUR) against the US Dollar (USD). Traders will closely monitor the development surrounding the United States (US) and the European Union (EU) trade agreement.
GBP/USD
GBP/USD edges higher after two days of losses, trading around 1.3630 during the Asian hours on Tuesday. The pair appreciates as the US Dollar (USD) loses ground as traders adopt caution after US President Donald Trump announced updated tariff rates on 14 countries that have yet to secure trade deals with Washington.
USD/JPY
USD/JPY retreats slightly from a two-week high touched on Monday amid renewed US Dollar selling. A turnaround in the global risk sentiment benefits the Japanese Yen and weighs on the pair. However, worries that Trump’s trade tariffs would complicate the BoJ’s path to rate hikes could continue to support the pair.
AUD/USD
AUD/USD holds recovery gains above 0.6500 in Tuesday’s Asian trading, snapping a three-day losing streak to a nearly two-week trough. The Aussie traders resort to repositioning ahead of the RBA rate decision. Further, renewed US Dollar selling lends support to the pair, though Trump’s fresh tariff threats and the risk-off impulse could cap the Aussie.
NZD/USD
The NZD/USD pair recovers some lost ground to near 0.6015, snapping the four-day losing streak during the Asian session on Tuesday. The New Zealand Dollar (NZD) edges higher against the Greenback as US President Donald Trump suggested that he was still open to additional negotiations and pushed off increased duties until at least August 1.
USD/CAD
The USD/CAD pair edges higher to near 1.3670 during the early Asian session on Tuesday. The US Dollar (USD) strengthens against the Canadian Dollar (CAD) after US President Donald Trump announced new tariffs set to go into effect on August 1 for some trading partners.
USD/CHF
The US Dollar and the Swiss Franc are the best performers among major currencies on Monday, as investors rush for safety, anxious that Trump’s tariffs will cause a significant disruption in global trade.
CRUDE OIL
Oil prices fell in Asian trading on Tuesday as investors assessed the impact of President Donald Trump’s tariff hikes on key trade partners, while lingering oversupply concerns from rising OPEC+ output added further pressure.
Gold price is back in the red below $3,350 early Tuesday, remaining stuck in a familiar range since last Friday as investors assess the implications of the latest tariff threats by US President Donald Trump.
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