Euro (EUR) is likely to trade between 1.0860 and 1.1030. In the longer run, decrease in momentum indicates the chance for EUR to rise has diminished; a breach of 1.0850 would suggest EUR has entered a range-trading phase, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
The Pound Sterling (GBP) bounces back to near 1.2800 against the US Dollar (USD) in Tuesday’s North American session from the monthly low of 1.2707 posted on Monday. The GBP/USD pair recovers as the US Dollar resumes its downside move after a short-lived recovery in the last two trading days.
The USD/CHF pair attracts some sellers to near 0.8550 during the early European trading hours on Tuesday. The US Dollar (USD) weakens against the Swiss Franc (CHF) as the fears of a global recession heighten following US President Donald Trump's sweeping tariffs on trading partners.
Trump escalated the trade war further threatening additional 50% tariffs on China effective tomorrow if they don't back off from the recent retaliatory tariffs. This move increased the risk of the yuan devaluation which could roil the markets if enacted.
The AUD/JPY cross jumps to 89.40, snapping the three-day losing streak during the early European session on Tuesday. The improving global risk sentiment and encouraging stimulus plans from China provide some support to the Aussie.
The EUR/USD pair regains positive traction during the Asian session on Tuesday, snapping a two-day losing streak and stalling the recent pullback from its highest level since September touched last week.
Gold price (XAU/USD) maintains its bid tone above the $3,000 psychological mark through the first half of the European session on Tuesday as worries about an all-out global trade war continue to underpin demand for traditional safe-haven assets.
The NZD/USD pair attracts some buyers to around 0.5580 during the Asian trading hours on Tuesday. US President Donald Trump's tariffs on trade partners have raised fears of the potential recession in the United States, weighing on the Greenback.
West Texas Intermediate (WTI) US Crude Oil prices attract some buyers on Tuesday following the previous day's US tariffs-led volatile price swings and currently trade just below mid-$61.00s, up over 1% for the day.
The Indian Rupee (INR) declines on Tuesday, erasing all its gains of 2025. Fears over global trade tensions escalated after China implemented retaliatory tariffs on US goods. The heightened uncertainty has triggered risk-off sentiment, leading to outflows from emerging markets, including India.
The Japanese Yen (JPY) sticks to its positive bias against a broadly weaker US Dollar (USD) and keeps the USD/JPY pair depressed below mid-147.00s heading into the European session on Tuesday.
The People’s Bank of China (PBoC) said early Tuesday that it will provide support to a sovereign fund when needed as it firmly supports its decision to buy more stocks, per Bloomberg.
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.2038 as compared to the previous day's fix of 7.1980 and 7.3321 Reuters estimate.
The AUD/USD pair recovers some lost ground to near 0.6015 during the early Asian session on Tuesday. The US Dollar (USD) edges higher against the Aussie amid concerns over a recession in the United States following US President Donald Trump's sweeping tariffs on trading partners.
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