The Euro trades slightly on the defensive against the US Dollar. Stocks in Europe open Tuesday’s session with decent gains. EUR/USD’s upside falters around weekly highs near 1.0560. The USD Index (DXY) remains propped up by the 106.20 zone. Germany, Eurozone ZEW survey takes centre stage in the old continent. US Retail Sales, Industrial Production, Fedspeak will be in the limelight. (FXStreet)

USD/CAD closed deep in negative territory on Monday before stabilized slightly above 1.3600 early Tuesday. Statistics Canada will release Consumer Price Index (CPI) data for September and the Bank of Canada (BoC) will publish core inflation figures. (FXStreet)

NZD/USD retraces recent gains after weaker economic data from New Zealand. Kiwi headline CPI (Q3) rose to 1.8%, compared to the 2.0% expected; the yearly rate decelerated. US Dollar could admire the improved US Treasury yields. (FXStreet)

The Reserve Bank of Australia's (RBA) minutes of the October policy meeting showed on Tuesday that policymakers considered raising the policy rate by another 25 basis points or holding it steady before deciding to leave it unchanged. “Members acknowledged upside risks to inflation were a significant concern," the RBA noted. AUD/USD gained traction in the Asian session and climbed above 0.6350. (FXStreet)

GBP/USD remains on backfoot after UK wage report remains soft. BoE Pill kept doors open for further policy-tightening. The UK’s consumer inflation report for September is expected to remain soft. (FXStreet)

USD/JPY attracts some buyers above the mid-149.00s on Tuesday. US NY Empire State Manufacturing Index for October fell to 4.6 vs. a 1.9 rise prior, better than expected. Japanese Finance Minister denied comment about currency intervention. Traders will focus on the US Retail Sales, Industrial Production, and Fed speakers later on Tuesday. (FXStreet)

USD/CHF trades higher amid escalating Middle-East conflict. American naval vessels are en route to Israel, sending a message of deterrence to both Iran and the Lebanese militant group. The Greenback faces hurdles amid dovish comments from multiple Federal Reserve officials. (FXStreet)

USD/MXN recovers some lost ground and hovers around 17.90. Chicago Fed and Philadelphia Fed President maintained their dovish stances, which weigh on the US Dollar. World Bank raised its economic growth projection for Mexico to 3.2% in 2023. Investors await the US Retail Sales for September. (FXStreet)

GBP/JPY pulls back from the recent gains amid moderate UK earning data. UK CPI (YoY) is expected to decrease; monthly figures could report a notable increase. BoJ could intervene in the foreign exchange market to protect the Japanese Yen. (FXStreet)

EUR/GBP trades with modest gains near 0.8648 following the UK wage inflation data. UK’s Average Earnings, excluding bonuses, came in at 7.8%, while the gauge including bonuses climbed 8.1% vs. 8.5% prior. ECB's chief economist said they will keep interest rates high until inflation returns to 2%. Investors will monitor the ZEW Economic Sentiment Survey for October, ECB's De Guindos speech on Tuesday. (FXStreet)

USD/INR could face trouble as RBI $5B swap deal is set to mature on October 23. Traders are concerned about the availability of US Dollars in the Indian banking system. Greenback encounters challenges due to the dovish remarks from several Fed officials. (FXStreet)

WTI: Gains appear limited around $88.00. Prices of WTI rose to new highs just past $88.00 mark per barrel before closing Monday’s session with modest losses. The daily pullback, however, was accompanied by shrinking open interest and volume and suggests that a more sustained retracement in the commodity now seems not favoured for the time being. (FXStreet)

Natural Gas: Initial support emerges around $3.00. Monday’s decline in prices of natural gas was in tandem with rising open interest and volume, which is indicative that extra retracements remain in store for the commodity in the very near term. In the meantime, there is a decent contention around the key $3.00 mark per MMBtu. (FXStreet)

The index leaves behind Monday’s downtick and revisits 106.40. Retail Sales will take centre stage later in the NA session. FOMC Bowman, Barkin are also due to speak. The greenback regains some balance following Monday’s drop and revisits the 106.40 region when measured by the USD Index (DXY) on turnaround Tuesday. (FXStreet)

Gold price trades in a narrow range as investors digest tensions in the Middle East. Fed policymakers see interest rates as sufficiently restrictive due to higher US Treasury yields. US Retail Sales growth is seen slowing to 0.3% in September. (FXStreet)

Fake News Blunder of ETF Approval Sends Bitcoin into a Frenzy. A Large Portion of Gains Have Since Been Wiped Away. Binance to Stop Accepting New UK Clients Today as it Searches for Partner Authorized by the FCA to Approve Ads. Today’s Brief Spike a Sign of the Potential Rally Which Could Unfold Should Spot ETFs be Approved. (DailyFX)

Source: FXStreet

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