Trading news

The EUR/GBP cross loses ground to near 0.8730 during the early European session on Tuesday. Renewed global trade concerns, including potential US tariff measures, weigh on the Euro (EUR) against the Pound Sterling (GBP).

The Australian Dollar (AUD) outperforms its major currency peers, trades 0.1% higher to near 0.7065 against the US Dollar (USD) during the early European trading session on Tuesday.

The AUD/JPY cross attracts some buyers to near 109.60 during the early European session on Tuesday. Traders remain concerned over Japan's fiscal health amid expectations that Prime Minister Sanae Takaichi will announce more stimulus to boost the economy.

Here is what you need to know on Monday, Tuesday 24:

The Indian Rupee (INR) ticks up against the US Dollar (USD) in the opening trade on Tuesday. The USD/INR pair edges down to near 91.10 on the expectation that the Reserve Bank of India (RBI) has intervened in spot and forward markets to support the Indian Rupee.

The USD/JPY pair is up 0.4% to near 155.30 during the late Asian trading session on Tuesday. The pair trades higher as the US Dollar (USD) extends its recovery move despite United States (US) President Donald Trump threatening higher tariffs on countries in case they dishonour trade agreements.

The EUR/USD pair extends the previous day's late pullback from the 1.1835 region and attracts some follow-through selling during the Asian session on Tuesday. Spot prices currently trade around the 1.1775-1.1770 area, down nearly 0.15% for the day amid a modest US Dollar (USD) strength.

GBP/USD edges lower after two days of gains, trading around 1.3480 during the Asian hours on Tuesday. The pair declines as the US Dollar (USD) rebounds from losses recorded over the previous two sessions.

Asian equities trade mixed on Tuesday as Japan and China markets return after holidays. The Nikkei 225, Japan’s benchmark, rose 0.90% to 57,346.

Gold prices fell in India on Tuesday, according to data compiled by FXStreet.

The GBP/JPY cross attracts fresh buyers following the previous day's two-way directionless price move and climbs back above the 209.00 mark during the Asian session on Tuesday.

West Texas Intermediate (WTI) Oil price extends gains for the second successive session, trading around $66.80 per barrel during the Asian hours on Tuesday. WTI price remains close to a six-month high of $67.23, reached on February 23.

Gold (XAU/USD) retreats sharply from the $5,250 level, or a fresh monthly peak touched during the Asian session, and for now, seems to have snapped a four-day winning streak.

The USD/CHF pair ticks up to near 0.7760 during the Asian trading session on Tuesday.

The NZD/USD pair gains momentum to near 0.5965 during the Asian trading hours on Tuesday, bolstered by a weaker US Dollar (USD). US trade policy uncertainty continues to weigh on the Greenback against the New Zealand Dollar (NZD).

EUR/JPY pares its recent losses from the previous session, trading around 182.60 during the Asian hours on Tuesday. The technical analysis of the daily chart points to a potential bullish reversal, with the currency cross holding slightly above the upper boundary of the descending channel pattern.

Japan’s Finance Minister Satsuki Katayama said on Friday that the government will closely examine details of the US Supreme Court decision on tariffs.

The AUD/USD pair consolidates in a narrow band around mid-0.7000s during the Asian session on Tuesday, and for now, seems to have stalled the previous day's modest pullback from over a one-week top.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, edges higher after two days of losses and is trading around 97.80 during the Asian hours on Tuesday.

The USD/CAD pair gathers strength to near 1.3715 during the early Asian trading hours on Tuesday. The US Dollar (USD) edges higher against the Canadian Dollar (CAD) despite American trade policy uncertainty.