Gold (XAU/USD) touches a fresh daily high during the first half of the European session on Tuesday, though it lacks follow-through and remains below the $4,800 mark.
EUR/JPY halts its three-day winning streak, inching lower after reaching all-time highs and trading around 187.40 during the European hours on Tuesday.
DBS Group Research’s Eugene Leow assesses Gold with a cautiously constructive stance, highlighting a divergence between speculative futures traders and strategic ETF and physical buyers.
Silver (XAG/USD) is rushing higher on Tuesday, reaching fresh two-week highs right below $78.00 at the time of writing, after bouncing from lows around $72.60 on Monday.
MUFG’s Senior Currency Analyst Lee Hardman highlights continued Japanese Yen underperformance, with USD/JPY trading just below 160.00 even as the US Dollar (USD) weakens elsewhere.
ING’s Francesco Pesole highlights that ECB President Christine Lagarde and other Governing Council members are expected to maintain a broadly hawkish tone given Gulf volatility. Markets price modest tightening at the 30 April meeting and two further hikes this year.
Dow Jones futures rise 0.12% to near 48,500 during European hours on Tuesday, ahead of the regular opening in the United States (US). Meanwhile, S&P 500 and Nasdaq 100 futures also advance 0.16% and 0.28% to near 6,930 and 25,600, respectively, at the time of writing.
UOB strategists Lee Sue Ann and Quek Ser Leang note AUD/USD rebounded sharply from 0.6979 to 0.7101, leaving the pair overextended in the near term. They see scope for a further push toward 0.7120, while questioning whether momentum is strong enough to reach 0.7155.
The Australian Dollar (AUD) underperforms its major currency peers, except the US Dollar (USD), during the European trading session on Tuesday.
Deutsche Bank analysts report that the S&P 500 has recovered above its pre‑strike level as markets price a temporary conflict and potential US–Iran talks.
Commerzbank’s Tatha Ghose reports that the Hungarian Forint has steadily outperformed regional peers over the past year, helped by expectations of political change and improved EU relations.
According to a Reuters report, negotiating teams from the United States (US) and Iran could return to Islamabad this week after failing to get a breakthrough in the first round of talks between the two held over the weekend.
