Pound Sterling (GBP) is entering the NA session largely unchanged from Monday’s close, a mid-performer among its G10 peers, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The Canadian Dollar (CAD) is little changed. Spot nudged up to the 1.44 area in overnight trade but remains close to yesterday’s closing levels as markets settle into a holding pattern ahead of US tariffs and the global response to them, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The US Dollar (USD) is trading mixed to slightly weaker against its major currency peers as markets chop around ahead of tomorrow’s tariff announcement from the White House.
The currency market caught up with the tariff threat at the start of this week, with the dollar stronger across the board, the yen supported, and high-beta currencies under pressure.
Pound Sterling (GBP) is under mild downward pressure vs US Dollar (USD); it is expected to edge lower, but any decline is likely limited to a test of 1.2880.
Silver (XAG/USD) oscillates in a narrow trading band following the previous day's good two-way price moves, though it holds above the $34.00 mark through the Asian session on Tuesday.
The GBP/JPY begins Tuesday’s Asian session mostly unchanged, trading at 193.63, below the 200-day Simple Moving Average (SMA) at 193.91, as it consolidates on top and below of the latter.
NZD/USD extended its decline on Monday’s session ahead of the Asian open, slipping to the mid-0.5600s and pressing into the lower half of the recent range.
The AUD/JPY pair drifted lower on Monday’s session ahead of the Asian open, trading around the 93.80 zone and extending its decline toward the bottom of its intraday range.
Gold prints another record high on Monday, surpassing the $3,100 threshold for the first time and extends its gains to an all-time high of $3,127 before retreating somewhat.
The Mexican Peso (MXN) begins the week on the back foot against the US Dollar (USD), mainly due to a deteriorating risk appetite as investors brace for the release of US tariffs on April 2, the US Liberation Day.
The EUR/USD pair slightly declined on Monday’s session after the European close, holding near the 1.08 zone and staying confined within its daily range.
The Pound Sterling loses ground versus the US Dollar as US April 2 Liberation Day gets closer, in which President Donald Trump is expected to announce additional tariffs to the ones already enacted since March 2.
The Pound Sterling (GBP) is steady, trading under 1.30 and also showing notable relative resilience in an environment of trade-related risk aversion, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Euro (EUR) is trading in a tight range near 1.08 and showing some notable resilience in an environment of broad-based risk aversion driven by trade-related concerns, Scotiabank's Chief FX Strategist Shaun Osborne notes.
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