The British Pound (GBP) is weakening against the US Dollar (USD) on Tuesday as markets look to news on trade developments, which is influencing the broader economic outlook.
The Australian Dollar (AUD) is making a recovery against the US Dollar (USD) on Tuesday, following the Reserve Bank of Australia's (RBA) decision to maintain its main interest rate at 3.85%.
Silver (XAG/USD) is trading near $36.70 on Tuesday, easing slightly on the day but holding firm within a narrow consolidation range. The metal has been hovering near 13-year highs, as markets assess the potential impact of the latest tariff threats by US President Donald Trump.
The AUD/USD pair is recovering its 1% losses registered in the previous session, trading around 0.6540 during the European hours on Tuesday. The daily chart’s technical analysis indicated a renewing bullish sentiment as the pair has rebounded to the existing ascending channel pattern.
Silver (XAG/USD) keeps trading within the last four weeks $2 range, but recent price action shows an ascending trend from late June lows, although the resistance area at $37,00 remains holding bulls and closing the path towards the $37.25 long-term high.Market’ concerns about trade uncertainty keep
The AUD/JPY cross attracts strong follow-through buying on Tuesday and rallies to a nearly four-month high in reaction to the Reserve Bank of Australia's (RBA) surprise decision to keep interest rates on hold.
The USDJPY pair rallied back into the top of the recent range as soft Japanese wage growth figures and negative US-Japan trade news weighed on the yen. What’s next?
Silver (XAG/USD) struggles to capitalize on the overnight goodish rebound from the $36.15 region, or a multi-day trough, and oscillates in a narrow band during the Asian session on Tuesday.
The AUD/JPY edged up on Monday and gained 0.17%, finishing the day near 94.79 as traders digested actions by the White House, which sent several letters to countries, setting tariffs on their imports into the US. Although it usually triggered a risk-off impulse, the Yen failed to gain traction.
Silver price seesaws around a $36.15-$37.22 range on Monday, but it is set to finish the day with losses of over 0.23% at $36.74 at the time of writing.
EUR/USD tumbled on Monday during the North American session amid a risk-off impulse, courtesy of an escalation in the trade war, as US President Donald Trump began sending letters with tariffs imposed on some countries.
Gold price registers minimal losses on Monday as worries about the resumption of a possible trade war increase, following US President Donald Trump's announcement on his social media platforms of the first trade letters sent to South Korea and Japan, which establish duties on goods and products.
The Pound Sterling (GBP) is virtually unchanged during the North American session, but it remains above a key technical level, following a solid US jobs report in the United States (US) last week.
The New Zealand Dollar (NZD) extends its losing streak against the US Dollar (USD) for the third consecutive day on Monday, with the NZD/USD trading near 0.6005, down nearly 0.90% on the day.
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The Pound is faring better than the Euro in a risk-averse market, as investors await more clarity about the size of the US tariffs and the date of their introduction.
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