The EUR/JPY pair weakened slightly on Tuesday, hovering around the 162.00 mark after the European session, with price action holding mid-range between intraday highs and lows.
The AUD/USD pair remains resilient, despite a retreat from recent highs. The Australian Dollar (AUD) benefits from a weaker US Dollar (USD), as market participants focus on the Federal Reserve’s (Fed) anticipated policy meeting on Wednesday.
Following a joint press conference between Canadian Prime Minister Mark Carney and United States (US) President Donald Trump, Canadian PM Carney followed up with a press conference of his own, adding some much-needed clarity to the discussions that have begun between Canada and the US about trade st
United States (US) Deputy Treasury Secretary Michael Faulkender hit newswires on Tuesday, noting that despite ongoing market tensions and investor concerns about US economic stability, demand for US Treasuries and US Dollar demand remain high.
The Mexican Peso recovered some ground on Tuesday against the Greenback as traders digested the latest Trade Balance figures of the United States (US), which showed the trade deficit widened.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, remained under heavy selling pressure on Tuesday as investors turned defensive ahead of the Federal Reserve’s (Fed) monetary policy decision.
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The US Dollar kept its offered stance well in place for yet another day on Tuesday amid the omnipresent tariff uncertainty and the usual cautious trade ahead of the Fed’s interest rate decision on Wednesday.
The Canadian Dollar (CAD) rose against the US Dollar (USD), sending the Loonie into recent highs against the Greenback and pushing the CAD up over one-third of one percent against the USD on Tuesday.
The Dow Jones Industrial Average (DJIA) followed the broader stock market lower on Tuesday, with equities taking a soft hit ahead of the Federal Reserve’s (Fed) upcoming rate call on Wednesday.
The EUR/USD pair moved slightly higher on Tuesday, trading near the 1.1300 zone after the European session as buyers remained in control despite a lack of strong momentum.
The US 10-year Treasury yield trades subdued on Tuesday as market participants await the Federal Reserve’s last monetary policy meeting on May 7. Furthermore, investors are also eyeing the demand for the 10-year T-note auction at 13:00 ET.
Gold (XAU/USD) is rising sharply on Tuesday, supported by a convergence of geopolitical conflict, trade policy uncertainty, and investor defensiveness ahead of Wednesday’s Federal Reserve (Fed) interest rate decision and Chair Jerome Powell’s press conference.
USD remains offered across the board as investor flows shift sharply into Asia, following a record 6% two-day surge in the Taiwan dollar (TWD) and strong gains in the Korean won (KRW), Chinese yuan, and Thai baht (THB).
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The Pound Sterling advanced for the second consecutive day, gaining over 0.65% against the US Dollar amid a scarce economic docket on both sides of the Atlantic. Major central banks like the Federal Reserve and the Bank of England (BoE) are preparing for their policy meetings.
Market indices bounce near key support levels, maintaining short-term bullish bias. Dip buyers active as 50-hour MAs hold as risk levels for S&P and Nasdaq.
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