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The EUR/GBP cross ticks lower during the Asian session on Tuesday, though it lacks follow-through and remains confined in a familiar range held over the past week or so.
The USD/CHF pair trades in positive territory around 0.8225 during the Asian trading hours on Tuesday. The optimism over the resumption of US-China trade talks provides some support for the Greenback. The US Consumer Price Index (CPI) report for May will be in the spotlight on Wednesday.
Gold price (XAU/USD) attracts fresh sellers during the Asian session on Tuesday and drops to the $3,300 neighborhood in the last hour, closer to a one-week low touched the previous day.
USD/CAD extends its winning streak for the third successive session, trading around 1.3700 during the Asian hours on Tuesday. The pair appreciates as the US Dollar (USD) gains ground as market sentiment improves amid easing tariff war tensions between the United States and China.
The Indian Rupee extends its winning streak against the US Dollar (USD) for the fourth trading day on Tuesday. The USD/INR pair ticks down to near 85.55 after opening, even as the US Dollar edges higher during Asian trading hours.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $64.65 during the Asian trading hours on Tuesday. The WTI price climbs to nearly seven-week highs, bolstered by a potential trade deal and a weaker US Dollar (USD).
The GBP/USD pair retraces its recent gains, trading around 1.3540 during Asian hours on Tuesday. The technical analysis of the daily chart indicates a persistent bullish bias as the pair moves upwards within an ascending channel pattern.
The EUR/USD pair struggles to capitalize on the previous day's move higher and attracts fresh sellers near the 1.1435 region during the Asian session on Tuesday.
The Japanese Yen (JPY) attracts fresh sellers during the Asian session on Tuesday as the optimism over the resumption of US-China trade talks undermines safe-haven assets.
Bank of Japan (BoJ) Governor Kazuo Ueda said on Tuesday, “we will raise interest rates if we have enough confidence that underlying inflation nears 2% or moves around 2%.”
The Australian Dollar (AUD) advances against the US Dollar (USD) on Tuesday, extending its gains for the second successive day. The AUD/USD pair receives support from hopes for a cooldown in the United States’ (US) latest broad tariff tensions with China.
China's Vice President Han Zheng said on Tuesday that the Chinese government is ready to work with the European Union to further expand areas of cooperation and promote new development in China-EU relations.
The NZD/USD pair extends its upside to near 0.6055 during the early Asian session on Tuesday. The New Zealand Dollar (NZD) strengthens against the US Dollar (USD) amid hope of US-China trade talks. The second day of trade talks will be in the spotlight on Tuesday.