AUD/USD loses ground after two days of gains, trading around 0.7240 during the Asian hours on Tuesday. The technical analysis of the daily chart indicates that the pair is moving upwards within the ascending channel, suggesting an ongoing bullish bias.
The USD/JPY pair attracts some buyers for the second straight day and advances to a four-day high following the disappointing release of Japan's Household Spending data this Tuesday.
Japan JP Foreign Reserves down to $1B in April from previous $1374.7B
The Bank of Japan (BoJ) published the Summary of Opinions from the April monetary policy meeting, with the key findings noted below.
The EUR/USD pair loses ground to near 1.1775 during the early Asian session on Tuesday. The Euro (EUR) softens against the US Dollar (USD) as traders turn cautious ahead of the US April inflation report and ongoing geopolitical tensions in the Middle East.
US President Donald Trump has grown increasingly frustrated with how the Iranians are handling talks to end the conflict, and some Trump aides say that he is now more seriously considering a resumption of major combat operations than he has in recent weeks, CNN reported on Monday.
Japan Overall Household Spending (YoY) came in at -2.9% below forecasts (-1.3%) in March
Iranian Parliament speaker Mohammad Bagher Ghalibaf warned on Monday that Iran’s military was fully prepared to retaliate against any future attacks after rising tensions threatened the fragile ceasefire in the Middle East, Reuters reported.
Gold price (XAU/USD) trades in positive territory around $4,750 during the early Asian session on Tuesday. The precious metal edges higher as traders assess developments in the United States (US)-Iran diplomacy and await key US inflation data, which is due later on Tuesday.
Sterling pulled back from a fresh peak near 1.3650 on Monday, easing close to 1.3610 through European trade after the Asian session squeezed the Pound to a new local high.
The Australian Dollar firmed by less than 0.1% on Monday, holding around 0.7250 in another range-bound session below the 0.7280 ceiling.
Silver (XAG/USD) price rallies over 7% on Monday, clearing key technical resistance at $83.05, the April 17 daily high, and also the $85.00 psychological figure, which opened the door towards the $86.00 per troy ounce handle, its highest level in the last two months.
