Trading news

GBP/USD inches lower after registering nearly 0.75 gains in the previous session, trading around 1.3310 during the Asian hours on Tuesday.

The NZD/USD pair meets with a fresh supply during the Asian session on Tuesday and erodes a part of the previous day's solid recovery from the vicinity of a one-month low, touched last week.

USD/JPY recovers losses from the previous session, trading near 159.40 during Asian hours on Tuesday. However, the upside of the pair may be limited as the Japanese Yen (JPY) could find support from potential intervention by Japanese authorities.

The USD/CAD pair posts modest losses around 1.3685 during the Asian trading hours on Tuesday. The ongoing conflict in the Middle East provides some support to the commodity-linked Canadian Dollar (CAD) against the US Dollar (USD).

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Tuesday at 6.8961 compared to the previous day's fix of 6.9057 and 6.8874 Reuters estimate.

The EUR/USD pair struggles to capitalize on the previous day's goodish recovery move from the 1.1415-1.1410 area, or from the vicinity of the lowest level since July 2025, and edges lower during the Asian session on Tuesday.

AUD/USD edges lower after posting more than 1.25% gains in the previous session, trading near 0.7060 during Asian hours on Tuesday.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $94.20 during the early Asian trading hours on Tuesday. The WTI price rises as the Iran war shows no signs of ending soon.

Bank of Japan (BoJ) Governor Kazuo Ueda said on Tuesday that underlying inflation gradually accelerating toward our 2% target. Ueda added that central bank will guide monetary policy appropriately to stably and durably achieve the inflation target.  

The Reserve Bank of Australia (RBA) is set to deliver another 25 basis points (bps) interest rate hike following its March monetary policy meeting on Tuesday, lifting the Official Cash Rate (OCR) to 4.10% from 3.85%.

The Israeli military said on Tuesday that it has detected missiles launched from Iran heading towards Israeli territory. It urged people in affected areas to head to shelters immediately.

Japan’s Finance Minister Satsuki Katayama said on Tuesday that there is high volatility in financial markets, adding that she will respond against volatility in financial markets including foreign exchange.

US President Donald Trump said that the US has asked to delay his planned meeting with Chinese President Xi Jinping in Beijing by “a month or so” due to the ongoing war with Iran, CNBC reported on Monday.

Iran’s Foreign Minister, Abbas Araghchi, on Monday said his last contact with US envoy Steve Witkoff occurred before the US military strike on Iran on February 28. 

TD Securities’ Alex Loo notes China’s economy started 2026 strongly, with upside surprises in Industrial Production, Exports and a rebound in Fixed-Asset Investment driven by quasi-fiscal policy.

Gold price (XAU/USD) trades with mild losses near $5,000 during the early Asian session on Tuesday. The precious metal extends the decline as hopes fade for the US Federal Reserve (Fed) to lower interest rates this year. All eyes will be on the Fed interest rate decision later on Wednesday. 

GBP/USD gained almost 0.75% on Monday, bouncing from Friday's low close to 1.3220 to settle on the high side of 1.3300.

XAU/USD spun in a flat circle on Monday, settling close to 5,000 in a relatively contained session following last week's sharp decline from the highs.

USD/JPY backslid around 0.4% on Monday, snapping a four-session winning streak and pulling back to the 159.00 region in otherwise unremarkable market action.

AUD/USD gained around 1.25% on Monday, bouncing from last week's lows to settle around 0.7070. The pair has been in a choppy range since peaking near 0.7190 in early February, with price pulling back repeatedly toward the 0.7000 area before recovering.