The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, retreated from its highest level since May 2025, touched during the Asian session this Tuesday, snapping a five-day winning streak.
USD/CAD remains stronger for the seventh consecutive day, trading around 1.3930 during the Asian hours on Tuesday. The pair holds ground as the commodity-linked Canadian Dollar (CAD) struggles amid lower oil prices, given Canada’s status of the largest crude exporter to the United States (US).
West Texas Intermediate (WTI), futures on NYMEX, plunges over 3% to near $98.00 during the Asian trading session on Tuesday.
Danske Bank analysts highlight that Japanese inflation is set to pick up on higher Oil prices and a weaker Japanese Yen (JPY), with markets already pricing a strong chance of an April Bank of Japan (BoJ) hike.
NZD/USD halts its five-day losing streak, trading around 0.5730 during the Asian hours on Tuesday. The pair remains stronger as the New Zealand Dollar (NZD) remains stronger following the release of China’s NBS Purchasing Managers’ Index (PMI) data.
Citing administration officials, the Wall Street Journal (WSJ) reported on Tuesday that US President Donald Trump told aides he is willing to end the US military campaign against Iran even if the Strait of Hormuz remains largely closed.
EUR/USD inches higher after five days of losses, trading around 1.1480 during the Asian hours on Tuesday.
China NBS Manufacturing PMI registered at 50.4 above expectations (50.1) in March
China NBS Non-Manufacturing PMI registered at 50.1 above expectations (49.9) in March
China’s Manufacturing Purchasing Managers' Index (PMI) jumped to 50.4 in March, compared to 49 in February, according to the latest data published by the National Bureau of Statistics (NBS) on Tuesday.
The GBP/USD pair stages a modest recovery from the 1.3160-1.3155 area, or over a four-month trough touched during the Asian session this Tuesday, and for now, seems to have snapped a five-day losing streak.
Australia Private Sector Credit (MoM) meets expectations (0.6%) in February
