West Texas Intermediate (WTI) Oil price falls on Tuesday, early in the European session. WTI trades at $58.55 per barrel, down from Monday’s close at $58.69.
The EUR/GBP cross posts modest gains near 0.8735 during the early European trading hours on Tuesday. The Pound Sterling (GBP) edges higher against the Euro (EUR) amid expectations that the Bank of England (BoE) will cut interest rates in the policy meeting next week.
Bank of Japan (BoJ) Governor Kazuo Ueda said on Tuesday that certainty of central bank's outlook materialising is increasing gradually. Ueda added that he will adjust degree of monetary easing if economic and prices trends move in line with forecasts.
Silver price (XAG/USD) trades in a tight range around $58.00 during the late Asian trading session on Tuesday. The white metal turns sideways as investors await the monetary policy announcement by the Federal Reserve (Fed), scheduled for Wednesday.
The EUR/USD pair gains ground to near 1.1645 during the early European session on Tuesday. The prospect of a US interest rate cut on Wednesday weighs on the US Dollar (USD) against the Euro (EUR).
Japanese Prime Minister Sanae Takaichi said on Tuesday that she will make appropriate economic and fiscal decisions at appropriate timing. Takaichi further stated that she will take into account interest rates, foreign exchange and prices.
The GBP/USD pair attracts some buyers following the previous day's two-way directionless price move and holds steady above the 1.3300 mark during the Asian session on Tuesday.
The Indian Rupee (INR) bounces back against the US Dollar (USD) on Tuesday. The USD/INR pair falls to near 90.20 amid a slowdown in the pace of foreign outflow from the Indian stock market.
The EUR/JPY cross trades on a firmer note around 181.60 during the early European session on Tuesday. The Japanese Yen (JPY) softens against the Euro (EUR) after a massive 7.6-magnitude earthquake shook northeastern Japan late on Monday, which briefly raised concerns about economic disruptions.
Reserve Bank of Australia (RBA) Governor Michele Bullock is addressing a press conference following the announcement of the December monetary policy decision on Tuesday.
Gold (XAU/USD) trades with a negative bias for the third straight day and drops to a one-week low, around the $4,170 region, during the early European session on Tuesday.
The AUD/JPY cross loses momentum to near 103.20 during the Asian trading hours on Tuesday. The Australian Dollar (AUD) edges lower against the Greenback after the Reserve Bank of Australia (RBA) interest rate decision.
The AUD/NZD pair falls sharply to near 1.1440 as the Reserve Bank of Australia (RBA) has kept its Official Cash Rate (OCR) steady at 3.6%. The RBA was expected to do so as inflation in Australia grew at a faster pace in the third quarter of the year.
The USD/CAD pair struggles to capitalize on the previous day's goodish recovery from the 1.3800 mark, or its lowest level since September 22, and edges lower during the Asian session on Tuesday.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $58.65 during the Asian trading hours on Tuesday. The WTI price edges lower as Iraq restores production at one of its oilfields.
US President Donald Trump on Monday threatened to impose a 5% tariff on Mexico if it doesn't immediately provide additional water to help US farmers, accusing the country of violating a decades-old treaty that grants US farmers access to water from the Rio Grande, Reuters reported on Tuesday.
The Australian Dollar (AUD) struggles to capitalize on its intraday move up led by Reserve Bank of Australia (RBA) Governor Michele Bullock's hawkish remarks, saying that more rate cuts might not be needed.
The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Tuesday at 7.0773 compared to the previous day's fix of 7.0764.
The NZD/USD pair declines to around 0.5775 during the early Asian session on Tuesday. The US Dollar (USD) strengthens against the New Zealand Dollar (NZD) as markets brace for a hawkish cut from the US Federal Reserve (Fed) on Wednesday.
Gold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
GBP/USD found little momentum on either side of the line on Monday, with the Cable pair churning chart paper just north of the 1.3300 handle to kick off a fresh trading week.
US President Donald Trump said that he will impose severe tariffs on fertilizer from Canada if he deems it necessary in order to bolster domestic production, Reuters reported on Monday.
The USD/JPY pair attracts some buyers to near 155.95 during the early Asian session on Tuesday. The Japanese Yen (JPY) weakens against the US Dollar (USD) as traders assess the potential impact of a strong earthquake in Japan.
EUR/USD slides 0.05% as the week begins, courtesy of broad US Dollar strength, amid choppy trading as traders brace for the Federal Reserve monetary policy decision. At the time of writing, the pair trades at 1.1637 after hitting a daily high of 1.1672.
Reserve Bank of Australia (RBA) Governor Michele Bullock is speaking at the press conference, explaining the reasons behind maintaining the benchmark interest rate at 3.6% following the December monetary policy meeting.
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