Daily market news

The EUR/USD pair is flashing a bullish signal, currently trading around the 1.1500 area after posting a slight decline during Tuesday’s session following the European close.

The Pound Sterling (GBP) reverses its course after reaching a daily high of 1.3423 due to concerns over the Federal Reserve (Fed) independence, spurred by United States (US) President Donald Trump's harsh comments against Fed Chair Jerome Powell.

The USD/JPY pair recovers some of its intraday losses but is still trading down near 140.65 during North American trading hours on Tuesday. The asset has demonstrated a sharp downside move in the last two weeks and revisited the 21-month low near 139.60.

The Canadian Dollar (CAD) is little changed on the session so far, reflecting a somewhat mixed trend in the USD overall, Scotiabank's Chief FX Strategist Shaun Osborne notes.

The AUD/USD pair corrects slightly to near 0.6400 during European trading hours on Tuesday after posting a fresh four-month high at 0.6440 earlier in the day. The Aussie pair retraces as the US Dollar (USD) strives to gain ground after remaining in the downside trajectory in the last few weeks.

USD/JPY continues to slide after breaking below a flag-like channel, hitting last year’s low around 139.50/138.90.

The US Dollar (USD) extended its decline as markets reacted to Trump's threats against Fed Chair Powell, worsening US asset market dynamics, and thin holiday liquidity. EUR/USD surged past 1.15, driven by ongoing risk aversion and safe-haven rotation away from the greenback.

West Texas Intermediate (WTI) Oil price retraces its recent losses from the previous session, trading around $63.30 per barrel during the European hours on Tuesday. The uptick in crude Oil prices came as investors took advantage of Monday’s sharp sell-off to cover short positions.

NZD/USD extends its winning streak from April 9, trading near the 0.6000 level during early European hours on Tuesday. The pair continues to gain as the US Dollar (USD) weakens under the weight of growing economic and political uncertainty in the United States.

EUR/GBP loses ground after two days of gains, trading around 0.8600 during the Asian hours on Tuesday. The Pound Sterling (GBP) is gaining traction, supported by optimism surrounding ongoing US-UK trade negotiations.