Trading news

USD/CHF trades around 0.7815 on Tuesday at the time of writing, up 0.46% on the day, supported by renewed demand for the US Dollar (USD) amid fresh geopolitical tensions in the Middle East.

South Africa Manufacturing Production Index (YoY) up to 0.9% in March from previous -2.8%

TD Securities economists highlight that higher US Treasury yields followed headlines on Middle East tensions and upcoming supply, with attention now turning to April United States (US) Consumer Price Index (CPI).

United States NFIB Business Optimism Index below expectations (96.1) in April: Actual (95.9)

The Euro (EUR) is heading lower against the Dollar (USD) on Tuesday, trading below 1.1750 at the time of writing, after another rejection at the 1.1790 area on Monday.

OCBC’s Christopher Wong highlights a strong Silver rally, up over 7% and breaking the 83–84 resistance zone in what looks like a cleaner technical breakout. He attributes the move to momentum, short-covering, structural tightness and positioning ahead of Trump–Xi talks.

During a cabinet meeting on Tuesday, British Prime Minister (PM) Keir Starmer said that he was not stepping down.

Following are the highlights of Australia's 2026/27 budget and the Treasury's key economic forecasts released on Tuesday, per Reuters.

Silver prices (XAG/USD) fell on Tuesday, according to FXStreet data. Silver trades at $84.29 per troy ounce, down 2.00% from the $86.01 it cost on Monday.

ING strategists Francesco Pesole, Frantisek Taborsky and Chris Turner expect a 0.9% MoM United States (US) Consumer Price Index (CPI) print, above consensus, with core at 0.3% MoM.

GBP/USD falls to around 1.3530 on Tuesday at the time of writing, down 0.59% on the day, as renewed risk aversion supports the US Dollar (USD) against the British Pound (GBP).

EUR/JPY pares its daily losses, still remaining in the negative territory and trading around 185.10 during the European hours on Tuesday. The currency cross remains steady following the release of the German ZEW Survey data.

West Texas Intermediate (WTI), futures on NYMEX, is 2.6% higher to near $98.00 during the European trading session on Tuesday. The oil price gains sharply amid growing doubts that the temporary ceasefire between the United States (US) and Iran, announced in early April, would last long.

Eurozone ZEW Survey – Economic Sentiment came in at -9.1, above expectations (-20) in May

South Africa Unemployment Total climbed from previous 7.836M to 8.137M in 1Q

South Africa Unemployment Rate (%) increased to 32.7% in 1Q from previous 31.4%

Germany ZEW Survey – Current Situation came in at -77.8 below forecasts (-77.5) in May

Germany ZEW Survey – Economic Sentiment registered at -10.2 above expectations (-19.8) in May

The USD/JPY pair reverses a knee-jerk decline to the 156.75-156.70 region and climbs to the top end of its daily range during the first half of the European session.

TD Securities economists diverge from consensus by expecting the European Central Bank (ECB) to hold rates in June. They stress the absence of clear second-round effects, anchored inflation expectations, and softening confidence and growth.