USD/CHF bounces off six-week lows of 0.8155 and surges past the 0.8200 figure as the Greenback is boosted by solid US jobs data, which is pushing the pair above its opening price by 0.26%.
Silver price trimmed some of its Monday’s 5% gains, edging down 0.52% on Tuesday, with the grey metal trading near the $34.50 area, stuck to the highs of the current week.
The Australian Dollar (AUD) is erasing some of its gains against the US Dollar (USD) on Tuesday, after experiencing a positive surge in bullish momentum on Monday.
EUR/USD retreats after hitting a six-week peak of 1.1454 on Tuesday amid increasing concerns of market participants regarding the trade war ignited by the United States (US). The Greenback’s appreciation weighs on the pair, which trades at 1.1379, down 0.52%.
The British Pound (GBP) is trading flat against the US Dollar (USD) on Tuesday, edging slightly lower from its intraday high while remaining within Monday’s range.
The Mexican Peso (MXN) is trading in a tight range against the US Dollar (USD) on Tuesday, following the Greenback's recovery from Monday’s sell-off.
The Dow Jones Industrial Average (DJIA) rose on Tuesday, bolstered by endless optimism in the tech sector. AI rally frontrunner Nvidia (NVDA) led a chip-based market advance, surpassing Microsoft’s market cap for the first time since January.
After bottoming out in fresh multi-week troughs, the US Dollar (USD) managed to regain composure and advance markedly on turnaround Tuesday. The recovery, however, did not offset concerns over the impact of Trump’s tariffs on the US economy and global trade.
The Federal Reserve's (Fed) discount rate meeting minutes from April 7, 28, and May 8 revealed that policymakers are increasingly uneasy about looming economic impacts, mostly from US trade policy.
West Texas Intermediate (WTI) Crude Oil prices continue their upward trajectory on Tuesday, marking the second day of gains. At the time of writing, WTI is hovering near Monday's high, trading around $63.06 per barrel, reflecting a nearly 2% increase on the day.
Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee fell in step with the Fed policymaker crowd on Tuesday, admitting that while things look good right now, policy uncertainty remains elevated at the hands of President Trump's whiplash tariff policies, and the Fed is beginning to brace f
Federal Reserve (Fed) Board of Governors member Lisa D. Cook noted on Tuesday that although the US economy appears to be in a healthy place for the time being, the biggest economic threat to stability remains the Trump administration's trade policies.
The Euro (EUR) has been gaining strength against the Japanese Yen (JPY), traditionally seen as a safe haven, on Tuesday.
Gold price trims some of its Monday gains as it edges down over 1% on Tuesday following jobs data from the United States (US), which reveals that the labor market remains tight. At the same time, the overall strength of the Greenback weighed on the non-yielding metal.
The Euro (EUR) is suffering a setback against the Pound Sterling (GBP) on Tuesday, with prices falling to the 10-day Simple Moving Average (SMA) near 0.8415.
The Canadian Dollar (CAD) holds firm against the US Dollar (USD) on Tuesday, with the USD/CAD pair edging lower during the American session to trade around 1.3710.
New Zealand GDT Price Index declined to -1.6% from previous -0.9%
Atlanta Federal Reserve President Raphael Bostic indicated that a robust economy provides the US central bank with the opportunity to consider the effects of tariffs on inflation and growth, while also expressing openness to the potential for a single interest rate cut later this year.
United States RealClearMarkets/TIPP Economic Optimism (MoM) above forecasts (49.1) in June: Actual (49.2)
United States Factory Orders (MoM) below expectations (-3%) in April: Actual (-3.7%)
United States JOLTS Job Openings registered at 7.391M above expectations (7.1M) in April
The Japanese Yen (JPY) is edging lower against the US Dollar (USD) on Tuesday as market participants await the release of the US Job Openings and Labor Turnover Survey, scheduled for 14:00 GMT.
The Indian Rupee (INR) weakens against the US Dollar (USD) on Tuesday, giving back Monday’s gains as the Greenback stabilizes ahead of key US labor market data.
United States Redbook Index (YoY) down to 4.9% in May 30 from previous 6.1%
Brazil Industrial Output (MoM) meets forecasts (0.1%) in April
Brazil Industrial Output (YoY) registered at -0.3%, below expectations (0.2%) in April
Gold prices are experiencing a mild pullback after testing their highest levels since May 8 on Monday, as investors continue to digest trade-related headlines, including US President Donald Trump’s request that countries submit their trade offers by Wednesday and the possibility of a call between Tr
The US Dollar is posting moderate gains on Tuesday’s European session, reaching intra-day highs past the 0.8200 psychological level, after bouncing up from at 0.8155, six-week lows.
The Australian Dollar (AUD) slips against the US Dollar (USD) on Tuesday, retreating from recent highs to 0.6460 as traders react to the Reserve Bank of Australia’s (RBA) cautious tone and softer-than-expected current account figures.
Japanese Yen (JPY) is soft, down marginally against the US Dollar (USD) but outperforming most of the G10 currencies, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Pound Sterling (GBP) is soft, down a marginal 0.2% against the US Dollar (USD) and a relative performer among the G10 in an environment of mild, albeit broad-based USD strength, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Euro (EUR) is soft, down 0.3% against the US Dollar (USD) and a mid-performer among the G10 currencies, pulling back modestly from its overnight push to a fresh one month high, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The Canadian Dollar (CAD) has edged a little lower on the session, in line with its major currency peers. Spot may continue to range trade ahead of Wednesday’s BoC policy decision, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The US Dollar (USD) is tracking a little higher overall, consolidating the soft tone seen over the past few sessions as the Dollar Index (DXY) losses hold near recent lows, Scotiabank's Chief FX Strategist Shaun Osborne notes.
US President Trump's announcement last Friday that US tariffs on Steel and Aluminum imports would be increased from 25% to 50% — with the higher tariffs being said to take effect tomorrow — initially caused further uncertainty on the base metal markets, with prices in the US rising sharply, Commerzb
Another aspect of the Swiss Gold export data is worth mentioning: Gold shipments to the US slumped to 12.7 tons in April, while at the same time 63 tons of Gold were shipped from the US to Switzerland, Commerzbank's FX analyst Michael Pfister notes.
US Dollar (USD) is likely to consolidate between 7.1920 and 7.2150. In the longer run, for now, USD is likely to trade in a range between 7.1800 and 7.2300, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Data published last week by the Swiss customs authority on Gold exports and the Hong Kong Statistics Department on Gold trade between Hong Kong and China point to a revival in demand for Gold in the Middle Kingdom.
US Dollar (USD) could decline further; given the deeply oversold momentum against Japanese Yen (JPY), a clear break below 142.10 appears unlikely. In the longer run, for a sustained decline, USD must first close below 142.10, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Official manufacturing PMI edged up to 49.5 in May on improved new orders and production. Real activity and export growth likely remained resilient on 2Y CAGR basis, indicating stable momentum.
Rally in New Zealand Dollar (NZD) could extend to 0.6070 before a pause can be expected against US Dollar (USD); major resistance at 0.6095 is likely out of reach for now.
The Gold price rose by 2.8% to $3,380 per troy ounce at the start of the week, Commerzbank's FX analyst Michael Pfister notes.
Sharp rise appears excessive, but there is room for Australian Dollar (AUD) to test 0.6510 before leveling off. In the longer run, price action suggests AUD could continue to rise and test the significant resistance level at 0.6540, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The eight OPEC+ countries with voluntary production cuts decided at the weekend to increase Oil production by 411 thousand barrels per day in July. This was the third such production increase in a row.
Strong momentum suggests further Pound Sterling (GBP) strength against US Dollar (USD), even though it is unclear if this will be sufficient for a break above 1.3600.
The reason for the significant strengthening of the US Dollar (USD) in September, when Donald Trump's second term in office was approaching, was obvious.
Bank of England (BoE) policymaker Swati Dhingra is testifying on the May Monetary Policy Report (MPR) before the UK Parliament's Treasury Select Committee (TSC) on Tuesday.
Silver prices (XAG/USD) fell on Tuesday, according to FXStreet data.
South Africa Gross Domestic Product (QoQ) came in at 0.1%, above expectations (0%) in 1Q
South Africa Gross Domestic Product (YoY) down to 0.8% in 1Q from previous 0.9%
Bank of England (BoE) Governor Andrew Bailey is testifying on the May Monetary Policy Report (MPR) before the UK Parliament's Treasury Select Committee (TSC) on Tuesday.
Bank of England (BoE) policymaker Catherine Mann is testifying on the May Monetary Policy Report (MPR) before the UK Parliament's Treasury Select Committee (TSC) on Tuesday.
Bank of England (BoE) Deputy Governor Sarah Breeden is testifying on the May Monetary Policy Report (MPR) before the UK Parliament's Treasury Select Committee (TSC) on Tuesday.
Gold prices jumped Monday as renewed trade concerns and heightened geopolitical tensions supported the metal’s haven appeal, ING's commodity experts Ewa Manthey and Warren Patterson note.
AUD/JPY depreciated by approximately 0.50%, trading around 92.20 during the European hours on Tuesday. The currency cross loses ground as the Australian Dollar (AUD) falls following the release of the Reserve Bank of Australia’s (RBA) Meeting Minutes.
EUR/CHF is showing signs of hesitation after rebounding from key support near last year’s lows. While a short-term floor has formed, the pair's inability to reclaim the 200-DMA suggests limited upside traction and leaves the door open to further downside risk, Société Générale's FX analysts note.
Bank of Japan (BoJ) Governor Kazuo Ueda is back on the wires, via Reuters, commenitng on the impact of US tariffs on the economic and inflation outlook.
The Pound is trading lower for the fourth consecutive day against a stronger Yen, favoured by the frail market sentiment, and hawkish comments by BoJ Governor Ueda, which keep hopes of further rate hikes alive.The BoJ’s chief warned about trade uncertainty but maintained that the bank will continue
Trade war escalation still visible in Caixin’s manufacturing PMI. It's a reminder of much higher US import tariffs despite Geneva-truce. Official composite PMI picks up slightly, ABN AMRO's economist Arjen van Dijkhuizen reports
Bank of England (BoE) policymaker Swati Dhingra is speaking just ahead of her testimony on the May Monetary Policy Report (MPR) before the UK Parliament's Treasury Select Committee (TSC) on Tuesday.
Euro (EUR) is likely to rise further; overbought conditions suggest 1.1495 is out of reach for now. In the longer run, EUR outlook is revised to positive; the immediate levels to watch are 1.1495 and 1.1530, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The US Dollar’s slide accelerated at the start of the week, driven by two main factors: growing trade uncertainty and rising concerns from bond vigilantes over the US deficit.
The Eurozone Harmonized Index of Consumer Prices (HICP) rose at an annual pace of 1.9% in May after increasing by 2.2% in April, the official data released by Eurostat showed Tuesday.
Eurozone Core Harmonized Index of Consumer Prices (YoY) came in at 2.3% below forecasts (2.5%) in May
Eurozone Harmonized Index of Consumer Prices (MoM) declined to 0% in May from previous 0.6%
Eurozone Core Harmonized Index of Consumer Prices (MoM) declined to 0% in May from previous 1%
Eurozone Harmonized Index of Consumer Prices (YoY) below expectations (2%) in May: Actual (1.9%)
Eurozone Unemployment Rate meets forecasts (6.2%) in April
The oil market surged higher yesterday, with ICE Brent hitting US$65.76/bbl at one stage, as USD weakness, rising geopolitical risks and possibly a supply hike from OPEC+ that fell short of expectations all provided a boost.
Spain 12-Month Letras Auction declined to 1.878% from previous 1.886%
NZD/USD is retracing its recent losses, trading around 0.5990 during the European hours on Tuesday. The technical analysis of the daily chart suggests a revival of neutral market sentiment as the Kiwi pair is attempting to fall back within a rectangular pattern.
Silver prices (XAG/USD) are trading lower on Tuesday’s European session, weighed by a somewhat firmer US Dollar, as the risk-off mood witnessed on Monday seems to have eased.The precious metal hit fresh six-month highs on Monday, with the US Dollar hammered by renewed tariff concerns and downbeat US
West Texas Intermediate (WTI) Oil price remains steady after registering more than 3.50% gains, trading around $62.50 during the Asian hours on Tuesday.
Italy Unemployment below forecasts (6.1%) in April: Actual (5.9%)
Brazil Fipe's IPC Inflation fell from previous 0.45% to 0.27% in May
The Job Openings and Labor Turnover Survey (JOLTS) will be released on Tuesday by the United States (US) Bureau of Labor Statistics (BLS). The publication will provide data about the change in the number of job openings in April, alongside the number of layoffs and quits.
EUR/USD trades with moderate losses, following a strong performance on the previous day.
The US Dollar is trading on a somewhat stronger note on Tuesday, favoured by an improved market sentiment, which has helped the USD/CAD to bounce from year-to-date lows below 1.3700 and return to 1the 1.3730 area at the moment of writing.The broader trend, however, remains bearish, with speculative
The Organisation for Economic Cooperation and Development (OECD) revised global growth down to 2.9% for 2025-2026, anticipating the fallout from the Trump administration's trade war.
The EUR/GBP cross loses ground to near 0.8445, snapping the three-day winning streak during the early session on Tuesday. The Euro (EUR) weakens against the Pound Sterling (GBP) amid the renewed trade tensions.
Turkey Consumer Price Index (YoY) came in at 35.41% below forecasts (36.1%) in May
Spain Unemployment Change registered at -57.835K above expectations (-68.5K) in May
Turkey Consumer Price Index (MoM) below expectations (2%) in May: Actual (1.53%)
Spain Unemployment Change registered at -57.8K above expectations (-68.5K) in May
Here is what you need to know on Tuesday, June 3:
France Budget Balance fell from previous €-47.03B to €-69.3B in April
Switzerland Consumer Price Index (MoM) in line with expectations (0.1%) in May
Switzerland Consumer Price Index (YoY) meets forecasts (-0.1%) in May
West Texas Intermediate (WTI) Oil price falls on Tuesday, early in the European session. WTI trades at $62.13 per barrel, down from Monday’s close at $62.50.
The USD/CHF pair trades with mild gains near 0.8180 during the early European session on Tuesday, bolstered by a modest rebound of the US Dollar (USD).
EUR/JPY remains steady after registering gains in the previous day, trading around 163.30 during the Asian hours on Tuesday. Eurozone Harmonized Index of Consumer Prices (HICP) data, scheduled to be released later in the day, will be eyed.
The AUD/JPY cross attracted some sellers after the Reserve Bank of Australia (RBA) meeting Minutes showed that the central bank had considered an outsized 50 basis point cut in May.
FX option expiries for Jun 3 30 NY cut at 10:00 Eastern Time vi a DTCC can be found below.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, has rebounded from a six-week low of 98.58 and is trading higher near 98.90 during the Asian hours on Tuesday. Traders would likely observe the release of the JOLTS Job Openings later on Tuesday.
The Silver price (XAG/USD) faces some selling pressure to around $34.15 after retreating from a nearly seven-month high during the Asian trading hours on Tuesday. The white metal loses ground due to some profit-taking amid easing trade tensions.
The GBP/USD pair attracts some sellers during the Asian session on Tuesday and erodes a part of the overnight strong move up to the 1.3560 area, or a multi-day peak.
Gold price (XAU/USD) retreats from the vicinity of the $3,400 round-figure mark, or a nearly four-week peak touched during the Asian session on Tuesday and erodes a part of the previous day's strong gains.
Gold prices fell in India on Tuesday, according to data compiled by FXStreet.
EUR/USD edges lower after registering over 0.50% gains in the previous session, trading around 1.1420 during the Asian hours on Tuesday. The US Dollar (USD) recovers its ground on technical correction, despite growing concerns regarding stagflation in the United States (US).
NZD/USD pulls back from an eight-month high of 0.6055, trading around 0.6010 during the Asian hours on Tuesday.
Reserve Bank of Australia (RBA) Assistant Governor Sarah Hunter warned on Tuesday, “higher US tariffs will put a drag on the global economy.”
The Indian Rupee (INR) weakens on Tuesday. The renewed US Dollar (USD) demand and a rise in crude oil prices put pressure on the local currency.
The Japanese Yen (JPY) retreated sharply from a one-week low touched against its American counterpart during the Asian session on Tuesday.
The Australian Dollar (AUD) depreciated against the US Dollar (USD) on Tuesday after registering around 1% gains in the previous session. The AUD/USD pair remains subdued following the release of the Reserve Bank of Australia’s (RBA) Meeting Minutes.
According to a draft of the government’s economic policy roadmap obtained by Reuters, “Japan is expected to promote domestic ownership of government bonds to avoid further rises in long-term interest rates.”
China's Caixin Manufacturing Purchasing Managers' Index (PMI) unexpectedly contracted to 48.3 in May from 50.4 in April, according to the latest data released on Tuesday.
China Caixin Manufacturing PMI came in at 48.3, below expectations (50.6) in May
The Reserve Bank of Australia (RBA) published the Minutes of its May monetary policy meeting on Tuesday, highlighting that the board decided the case for a 25 basis points (bps) cut was a stronger one and preferred policy to be cautious and predictable.
Australia Company Gross Operating Profits (QoQ) registered at -0.5%, below expectations (1.1%) in 1Q
Australia Current Account Balance below forecasts (-12B) in 1Q: Actual (-14.7B)
Bank of Japan (BoJ) Governor Kazuo Ueda said on Tuesday that the Japanese economy is modestly recovering despite some weakness.
On Tuesday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1869 as compared to last Friday's fix of 7.1848 and 7.1872 Reuters estimate.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $62.40 during the Asian trading hours on Tuesday. The WTI price edges higher after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) decided to increase their production again.
Bank of Japan (BoJ) former board member Makoto Sakurai said on Tuesday that the Japanese central bank will probably halt its quarterly reductions in government bond purchases starting next fiscal year, per Bloomberg.
Ireland AIB Manufacturing PMI: 52.6 (May) vs previous 53
An Iranian diplomat said on Monday that Tehran is poised to reject a US proposal to end a decades-old nuclear dispute after the US draft insisted that Iran would have to suspend the enrichment of uranium inside Iran, per Reuters.
GBP/USD jumped on Monday, kicking off the June trading window by climbing back above 1.3550 after a broad-market weakening in Greenback flows.
Japanese Prime Minister Shigeru Ishiba said late Monday that he may dissolve the House of Representatives for a snap general election if the main opposition party submits a no-confidence motion, per Japan Today.
The USD/CAD pair remains on the defensive near 1.3715 during the early Asian session on Tuesday. The US Dollar Index (DXY) softens to fresh seven-week lows amid jitters over the health of the US economy. The JOLTs Job Openings will be published later on Tuesday.
New Zealand Terms of Trade Index below expectations (3.1%) in 1Q: Actual (1.9%)
The NZD/JPY begins Tuesday’s Asian session flat after registering minimal gains of over 0.24% on Monday amid a risk-on mood. At the time of writing, the cross-pair trades at 86.13, unchanged.
The Australian Dollar (AUD) is trading positively in the early hours of Tuesday's Asian session, while the US Dollar (USD) remains under pressure.
The Canadian Dollar (CAD) caught a fresh bid against the US Dollar (USD), with June’s market window kicking things off with a fresh six-month peak in intraday Loonie bids against the Greenback.
The AUD/JPY is poised to close on Monday with gains of over 0.09% amid a subdued trading session, despite an improvement in risk appetite during the day. At the time of writing, the cross-pair trades at 92.74 after bouncing off a daily low of 92.37.