West Texas Intermediate (WTI) Oil price advances on Tuesday, early in the European session. WTI trades at $57.68 per barrel, up from Monday’s close at $57.00.
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The USD/CHF pair struggles to capitalize on a modest Asian session uptick and is currently placed near the lower boundary of its daily range amid subdued US Dollar (USD) price action.
The GBP/USD pair attempts to maintain its position after registering gains in the previous session, trading around 1.3300 during the Asian trading hours on Tuesday.
The EUR/USD pair reverses an Asian session tip to the 1.1280-1.1275 region on Tuesday and climbs a fresh daily high in the last hour, though it lacks strong follow-through buying.
The Japanese Yen (JPY) attracts fresh buyers following an intraday dip and turns higher against its American counterpart for the third successive day on Tuesday amid a combination of supporting factors.
Silver price (XAG/USD) extends its gains for the second successive session, trading around $33.10 per troy ounce during the Asian hours on Tuesday. The prices of the precious metals, including Silver, rose as President Donald Trump's new tariff threat spurred demand for safe-haven assets.
NZD/USD is retreating around 0.5960 during Tuesday’s Asian session after two consecutive days of gains. The pullback follows a decline in the New Zealand Dollar (NZD), pressured by disappointing Chinese economic data.
The Indian Rupee (INR) edges lower against the US Dollar (USD) during the Asian hours on Tuesday. However, the USD/INR pair may continue to encounter resistance as the INR gains support from certain market factors.
The USD/CAD pair edges higher for the second consecutive day on Tuesday, though it lacks strong follow-through buying and remains confined in a familiar range held over the past two weeks or so.
Gold price (XAU/USD) maintains its bid tone heading into the European session and currently trades just below a nearly two-week high touched earlier this Tuesday.
West Texas Intermediate (WTI) crude Oil price continues to recover during Asian trading on Tuesday, hovering around $57.60 per barrel after a nearly 2% decline on Monday. However, gains were capped by concerns over rising global supply following an OPEC+ decision to accelerate output increases.
On Tuesday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.2008 as compared to last Wednesday's fix of 7.2014 and 7.2518 Reuters estimate.
AUD/USD is retreating from a five-month high of 0.6493 reached on Monday, slipping to around 0.6450 during the Asian session on Tuesday. The decline comes as the US Dollar (USD) strengthens ahead of the Federal Reserve’s (Fed) upcoming monetary policy decision on Wednesday.
EUR/USD churned chart paper near the familiar 1.1300 handle to kick off a fresh trading week. The Fiber has been stuck in a choppy consolidation phase as Euro traders struggle to kick off a new push in either direction.
The Mexican Peso (MXN) began the week with losses of around 0.58% against the US Dollar (USD) ahead of a crucial week with the Federal Reserve (Fed) preparing to host its monetary policy meeting on May 7 and the announcement of Mexican inflation figures.
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