The EUR/USD pair snaps the three-day winning streak during the early European session on Tuesday. A modest US Dollar (USD) demand dragged the major pair lower. As of writing, EUR/USD is trading near 1.0950, down 0.06% on the day. (FXStreet)

The USD/JPY pair trades in negative territory for the third consecutive day during the early Asian session on Tuesday. The downtick of the pair is backed by the decline in the US Dollar (USD) and the lower US Treasury bond yields. The pair currently trades around 148.45, losing 0.12% on the day. (FXStreet)

GBP/USD continues its winning streak that began on Thursday, trading higher around 1.2630 during the Asian session on Tuesday. The Pound Sterling (GBP) shows strength against the US Dollar (USD) for the fourth consecutive day, showcasing the resilience of the UK economy. This steadfast performance comes despite the tightening measures implemented by the Bank of England (BoE). (FXStreet)

USD/CHF trades above the 0.8800 psychological level during the Asian session on Tuesday, rebounding from the three-month low at 0.8793. The USD/CHF pair struggles to halt the losses due to the weaker US Dollar (USD) following the likelihood of the US Federal Reserve (Fed) to conclude its monetary rate hike cycle. Additionally, investors price in nearly 85 basis points of interest rate cuts by the Fed in the next year. (FXStreet)

The Australian Dollar (AUD) continues its winning streak for the fourth successive session despite downbeat seasonally adjusted Retail Sales data from Australia on Tuesday. The AUD/USD pair hovers near its peak from early August near the 0.6625 level, benefiting from a downward bias that has left the Greenback appearing susceptible. (FXStreet)

USD/CAD extends its losses for the third consecutive session, trading lower around 1.3600 psychological level during the Asian session on Tuesday. The rebound in Crude oil prices and positive market sentiment provide some support for the Canadian Dollar (CAD).

NZD/USD recovers its recent losses registered in the previous session. The NZD/USD pair trades higher near 0.6100 during the early European session on Tuesday. The strength of the New Zealand Dollar (NZD) against the US Dollar (USD) is further bolstered by the subdued performance of the US Dollar (USD). This comes in the wake of expectations that the US Federal Reserve (Fed) is nearing the end of its monetary rate hike cycle, coupled with the anticipation of almost 85 basis points of interest rate cuts by the Fed in the coming year. (FXStreet)

Indian Rupee (INR) loses ground on Tuesday amid the US Dollar (USD) demand from state-run and foreign banks. Nirmala Sitharaman, India's finance minister, said on Monday that the government is keeping a close eye on the exchange rate, especially following the Indian rupee's decline. (FXStreet)

The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.1132 as compared to the previous day's fix of 7.1159 and  7.1432 Reuters estimates. (FXStreet)

Western Texas Intermediate (WTI) price struggles to snap its losing streak that began on Wednesday, hovering above $75.00 per barrel during the European session on Tuesday. Amidst the negative bias for the US Dollar, there's an expectation that the upcoming meeting of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) on Thursday could bring some support to crude oil prices. The anticipation is centered around the possibility of OPEC+ extending the oil production cut in 2024. (FXStreet)

Gold price (XAU/USD) pushed through the $2,008-2,010 horizontal barrier and advanced to the $2,018 region on Monday, or its highest level since mid-May. The precious metal, however, fails to capitalize on the breakout momentum and enters a bullish consolidation phase on Tuesday. The US Dollar (USD) stages a modest recovery from a near three-month low amid an uptick in the US Treasury bond yields. This, along with a positive risk tone, turns out to be a key factor capping gains for the non-yielding yellow metal through the early part of the European session. (FXStreet)

Silver (XAG/USD) enters a bullish consolidation phase and oscillates in a narrow trading band just above mid-$24.00s through the first half of the European session on Tuesday. The white metal, however, remains well within the striking distance of a near three-month high touched on Monday and seems poised to prolong its recent strong appreciating move witnessed over the past two weeks or so. (FXStreet)

Source: FXStreet

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