Silver (XAG/USD) builds on the previous day's bounce from the vicinity of mid-$72.00s and gains some follow-through positive traction during the Asian session on Tuesday.
NZD/USD inches lower after registering 0.5% gains in the previous day, trading around 0.5860 during the Asian hours on Tuesday. The pair remains subdued following the release of China's Trade Balance data for March.
The US Dollar (USD) holds onto its Monday’s losses amid optimism that the United States (US) and Iran are still in favor of a permanent ceasefire despite the absence of a breakthrough in the first round of talks in Pakistan during the weekend.
In a Semafor interview on Tuesday, US Treasury Secretary Scott Bessent said that “the US should ‘wait and see’ before lowering interest rates.”
China's Trade Balance for March, in Chinese Yuan (CNY) terms, arrived at CNY354.75 billion, narrowing sharply from the previous figure of CNY1.5 trillion.
China Trade Balance CNY declined to 354.75B in March from previous 1500B
China Exports (YoY) CNY dipped from previous 19.2% to -0.7% in March
USD/CAD remains subdued for the second consecutive day, trading around 1.3790 during the Asian hours on Tuesday.
China Imports (YoY) registered at 27.8% above expectations (11.1%) in March
China Exports (YoY) below expectations (8.3%) in March: Actual (7.1%)
China Trade Balance USD came in at $51.13B below forecasts ($112B) in March
The USD/JPY pair is seen extending the previous day's modest pullback from the 159.85 region and drifting lower during the Asian session on Tuesday. Spot prices drop to the 159.00 mark in the last hour, though the downside potential seems limited amid mixed fundamental cues.
