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AUD/USD surges to near 0.6050 despite multiple headwinds
The AUD/USD pair soars to near 0.6050 during European trading hours on Tuesday. The Aussie pair strengthens as the Australian Dollar (AUD) advances strongly even though fears of a trade war between the United States (US) and China have escalated.
US Dollar softens with equities turning green
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades above 103.20 at the time of writing on Tuesday, slightly lower in the day while risk on is trying to take over market sentiment.
Australia's consumer confidence hits 6-month low amid tariff concerns - BBH
Australia's business survey was mixed but consumer confidence plunged, BBH FX analysts report.
USD/JPY gains on strengthening US Dollar - BBH
USD/JPY firmed up on USD strength, BBH FX analysts report.
USD/JPY: Likely to trade in a range between 146.00 and 149.00 - UOB Group
US Dollar (USD) is likely to trade in a range between 146.00 and 149.00 vs Japanese Yen (JPY).
PBOC signals weaker yuan as USD/CNH tests resistance - BBH
The Shanghai Composite Index recovered slightly today after diving by roughly 9% on Monday. China's state fund manager, controlled by the Ministry of Finance, confirmed it had taken action to increase its holdings of stock market index funds and promised to buy more, BBH FX analysts report.
US recession odds rise as global trade conflict deepens
Expectations for the United States (US) economy to tip into recession this year gain traction following the introduction of aggressive tariffs by US President Donald Trump.
EUR/USD struggles to extend recovery amid fears of potential Eurozone-US tariff war
EUR/USD trades higher in Tuesday's European trading session but struggles to reclaim the psychological figure of 1.1000. The major currency pair tussles for more upside as the US Dollar Index (DXY) strives to extend its two-day recovery move above Monday's high of 103.50.
NZD/USD: Likely to trade in a 0.5500/0.5600 range - UOB Group
New Zealand Dollar (NZD) is likely to trade in a 0.5500/0.5600 range vs US Dollar (USD). In the longer run, it is too early to expect the weakness to stabilise, but it remains to be seen if NZD can decline to the next support at 0.5450, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
AUD/USD: Likely to trade in a range of 0.5945/0.6110 - UOB Group
Instead of continuing to drop, Australian Dollar (AUD) is more likely to trade in a range of 0.5945/0.6110 vs US Dollar (USD).
Gold bounces back above $3,000 as trade war tensions flair up
Gold price (XAU/USD) is bouncing higher in tandem with Equities after another stellar nosedive move on Monday. The precious metal trades just above the $3,000 mark at the time of writing on Tuesday.
ECB's Stournaras: Monetary policy is to be less restrictive in 2025
European Central Bank (ECB) policymaker Yannis Stournaras warned on Tuesday, "monetary policy is to be less restrictive in 2025."
USD: Wild moves continue - ING
Markets remain on edge as trade tensions, erratic headlines, and shifting currency dynamics drive sharp moves across asset classes. While some signs of optimism emerge, risks to the US dollar and commodity-linked currencies persist, ING's FX analyst Francesco Pesole notes.
Confidence tumbles and US Dollar falls under pressure - Commerzbank
Business and consumer sentiment in the US is collapsing, and hard data may soon follow. With tariffs acting as an exogenous shock, investors are preparing for recession -- not inflation -- and abandoning the US Dollar, Commerzbank's FX analyst Antje Praefcke notes.
ECB's Šimkus: 25 bps rate cut needed in April
European Central Bank (ECB) Governing Council member Gediminas Šimkus said on Tuesday that a"25 basis points (bps) rate cut is needed in April."
GBP/USD: Set to edge lower to 1.2675 before stabilising - UOB Group
Pound Sterling (GBP) could edge lower to 1.2675 before stabilisation is likely vs US Dollar (USD); any further decline is unlikely to reach 1.2580.
NZD/USD sticks to gains near 0.5600 on weaker USD; bulls seem cautious amid tariff worries
The NZD/USD pair gains strong positive traction on Tuesday and builds on its steady intraday ascent through the first half of the European session.
CNY: Controlled depreciation - ING
USD/CNY edged a little higher today to around 7.33 as the People's Bank of China (PBoC) set its daily fixing above 7.20 for the first time since 2023.
India Gold price today: Gold rebounds as US-China trade war revives haven demand
Gold prices in India witnesses a turnaround Tuesday as the US-China trade war escalates and revives the safe-haven demand for the bullion.
EUR/USD: Likely to trade between 1.0860 and 1.1030 - UOB Group
Euro (EUR) is likely to trade between 1.0860 and 1.1030. In the longer run, decrease in momentum indicates the chance for EUR to rise has diminished; a breach of 1.0850 would suggest EUR has entered a range-trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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