Forex
The EUR/USD rallies for the seventh straight session as the Greenback falls to a six-week low amid hopes of US-Iran talks in the week ahead, while US data remains in the back seat despite a jump in inflation. At the time of writing, the pair trades around 1.1790, up 0.30%.
EUR/USD, GBP/USD, and USD/CAD Technical Analysis: The US Dollar gives up its 11-month highs, losing roughly 2% against a basket of major currencies as geopolitical de-escalation dampens safe-haven demand. As the DXY hits a major roadblock at the 98.00 support level, shifting political winds and ceasefire hopes are setting up massive opportunities in the currency markets. Explore an intraday technical analysis of the FX pairs.
West Texas Intermediate (WTI) US Oil declines on Tuesday, with the barrel trading around $89.10 at the time of writing, down 3.93% on the day.
Indices
S&P 500, Dow Jones, Nasdaq Analysis and Trading Levels: The peace rally gains momentum as US-Iran negotiations open discussions on nuclear enrichment and Israel-Lebanon direct talks commence. With WTI Crude unwinding its war premium down to $93 and a cooler-than-expected March PPI reading of 4.0%, equity bulls return hungry. Explore a mid-session technical analysis of US Stock markets.
Commodities
Silver (XAG/USD) surges on Tuesday, trading around $78.80 at the time of writing, up 4.16% on the day as strong buying interest pushed Silver to a daily high of $79.32.
Forex
Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is making modest gains versus a softer US Dollar (USD), though it lags core majors and weakens on crosses. They estimate USD/CAD equilibrium at 1.3527, with undervaluation correcting mainly via Dollar softness.
Commodities
Gold (XAU/USD) trades with a mild positive bias on Tuesday, supported by a softer US Dollar (USD) as investors react to renewed optimism surrounding potential US-Iran negotiations.
Indices
Technical analysis of the Nasdaq 100 shows a "V-shaped" recovery and a breakout into a clear bullish cycle. Despite the strong trend, overbought RSI conditions suggest that immediate upside momentum is slowing. The article advises traders to wait for a pullback to the key 25,320 or 25,100 support zones to establish new long positions due to the current poor risk-to-reward ratio.
Forex
The NZD/USD pair trades 0.5% higher to near 0.5900 during the European trading session on Tuesday. The Kiwi pair strengthens as the New Zealand Dollar (NZD) outperforms its peers amid risk-on market sentiment.
Commodities
Gold (XAU/USD) is showing a moderate bullish tone for the second consecutive day on Tuesday, with price action approaching the $4,800 level after bouncing from one-week lows at $4,664 on Monday.
