NZD/USD trades nearly unchanged around the 0.5785 area on Tuesday, struggling to extend its earlier recovery despite a modest decline in the US Dollar (USD).

Gold trades near $4,020 in the New York morning, down roughly 1.4% on a session that started near $4,075 and never built a bid.

NZD/USD trades around 0.5770 on Tuesday at the time of writing, slightly lower on the day. The New Zealand Dollar (NZD) remains pressured by the firm US Dollar (USD), which continues to benefit from safe-haven demand amid persistent geopolitical tensions.

The Euro (EUR) is failing to draw any significant support from the truce in the Middle East and the lower Oil prices and keeps heading south against the US Dollar (USD) on Tuesday. EUR/USD bears are testing fresh one-month lows below 1.1360, drawing near the year-to-date low of 1.1324.

The USD/CAD pair trades marginally lower to near 1.4113 during the European trading session on Tuesday. The Loonie pair edges down as the Canadian Dollar (CAD) outperforms its major currency peers.

Oil prices remain depressed on Tuesday, as hopes of a new round of peace talks between the US and Iran boosted hopes of a de-escalation of the Middle East conflict.

The British Pound (GBP) trades with caution at around 1.3300 against the US Dollar (USD) during the European trading session on Tuesday.

The AUD/USD pair attracts some follow-through selling following the previous day's failure to find acceptance above the 0.7000 psychological mark and weakens to the 0.6970 area during the Asian session on Tuesday.

Silver price (XAG/USD) declines after registering nearly 0.5% gains in the previous day, trading around $57.50 per troy ounce during the Asian hours on Tuesday.

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – is seen consolidating the previous day's heavy losses and trading around the $81.00 mark, just above a one-week high set during the Asian session on Tuesday.