Trading news

GBP/USD holds ground after registering modest gains in the previous session, trading around 1.3430 during the Asian hours on Tuesday. The pair moves little as traders adopt caution ahead of labor market data from the United Kingdom (UK) due later in the day.

The Japanese Yen (JPY) attracts some dip-buying during the Asian session on Tuesday and stalls the previous day's retracement slide from a one-week high against its American counterpart.

EUR/USD moves little after registering modest gains in the previous session, trading around 1.1640 during the Asian hours on Tuesday. The 14-day Relative Strength Index (RSI) momentum indicator, at 44 (neutral-to-bearish), confirms fading momentum.

Silver price (XAG/USD) attracts some sellers to around $93.60 during the Asian trading hours on Tuesday. The white metal edges lower amid some profit taking after reaching a fresh record high in the previous session. The safe-haven demand might help limit Silver’s losses in the near term. 

USD/CAD edges higher after registering modest losses in the previous session, trading around 1.3870 during the Asian hours on Tuesday.

The Australian Dollar remains subdued against the US Dollar (USD) on Tuesday after registering modest gains in the previous session. The AUD/USD pair remains subdued after the People’s Bank of China (PBOC), China's central bank, announced to leave its Loan Prime Rates (LPRs) unchanged on Tuesday.

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Tuesday at 7.0006 compared to the previous day's fix of 7.0051 and 6.9576 Reuters estimate.

The NZD/USD pair loses ground to around 0.5790 during the early Asian session on Tuesday, pressured by renewed US Dollar (USD) demand. Nonetheless, the potential downside for the pair might be limited amid the fresh US President Donald Trump trade war.

China PBoC Interest Rate Decision meets expectations (3%)

The People’s Bank of China (PBOC), China's central bank, announced to leave its Loan Prime Rates (LPRs) unchanged on Tuesday. The one-year and five-year LPRs were at 3.00% and 3.50%, respectively. 

West Texas Intermediate (WTI) US Crude Oil prices struggle to capitalize on the previous day's modest bounce from the vicinity of mid-$58.00s, or a one-week trough, and oscillate in a narrow range during the Asian session on Tuesday.

Gold price (XAU/USD) edges higher to near $4,670 during the early Asian session on Tuesday. The precious metal is set to hit a fresh record high as traders flock to safe-haven assets amid a persistent geopolitical and economic outlook.

The USD/JPY pair holds steady near 158.15 during the early Asian session on Tuesday. The pair steadies as safe-haven flows offset speculations that Prime Minister Sanae Takaichi may soon call a snap election. Traders await the ADP weekly report later on Tuesday for fresh impetus. 

GBP/USD caught a much-needed bullish bounce on Monday, driven higher by a broad-market decline in the US Dollar (USD) rather than any particular strength behind the Pound Sterling (GBP).

EUR/USD edges higher on Monday up by more than 0.40% as traders ditch the US Dollar as risk appetite deteriorates following Trump’s decision to escalate the US-European Union trade war amid the White House interests over Greenland. The pair trades at 1.1642 after bouncing off daily lows of 1.1576.

New Zealand Business NZ PSI rose from previous 46.9 to 51.5 in December

South Korea Producer Price Index Growth (MoM) up to 0.4% in December from previous 0.3%

South Korea Producer Price Index Growth (YoY) remains unchanged at 1.9% in December

Gold (XAU/USD) rallies on Monday after falling to a four-day low on Friday, edging up more than 1.50%, and hovers near the $4,700 figure after reaching a new all-time high courtesy of geopolitical uncertainty amid the US-European Union trade-war escalation over the weekend.

Here is what you need to know on Tuesday, January 20: