USD/CHF takes a breather after two days of a winning streak. Swiss Franc could receive support from the improved 10-year Swiss bond yield. US Dollar made profits on the Fed Powell’s rejection of rate cut in March amid upbeat economic data. (FXStreet)

USD/CAD recovery loses steam near 1.3510 ahead of the Canadian PMI data. The pair resumes its uptrend above the key EMA; RSI indicator is above the 50.0 midlines. The first upside target is seen at 1.3545; the initial support level is located at 1.3460. (FXStreet)

EUR/USD faced trouble after weaker EU PPI data on Monday. The improved US ISM Services data supported the US Dollar. Fed’s Powell emphasized monitoring inflation's sustained trajectory toward the 2% core target. (FXStreet)

EUR/GBP faces a challenge as the BoE is expected to avoid rate cuts in its upcoming meeting. BoE Chief Economist Huw Pill called the expectation of interest rate cut premature. OECD anticipated EU inflation to persist above the ECB's 2% target until some point after 2025. (FXStreet)

AUD/JPY gains strong positive traction on Tuesday, though the upside potential seems limited. The AUD strengthens after the RBA decided to leave the Official Cash Rate (OCR) unchanged. China’s economic woes and geopolitical risk might keep a lid on any further gains for the cross. (FXStreet)

EUR/JPY edges lower to 159.60 amid the BoJ’s hawkish tilt and safe-haven flows. Investors anticipate the ECB to embark on the first rate cut at the June meeting. BoJ policymakers hinted about the monetary policy shift, which lifts the Japanese Yen. The Eurozone Retail Sales will be released later on Tuesday. (FXStreet)

AUD/NZD attracts some dip-buying after the RBA announced its policy decision this Thursday. Expectations that the RBA’s tightening cycle is over keep a lid on any further gains for the cross. The technical setup favours bearish traders and supports prospects for deeper near-term losses. (FXStreet)

NZD/USD falls back from 0.6070 as the broader market sentiment is risk-averse. The Fed is not expected to rush for aggressive rate cuts. The NZ Q4 labor market conditions are expected to remain downbeat. (FXStreet)

USD/MXN loses ground as US Dollar declines due to weaker US yields. Mexican Peso could weaken on future economic policies from the new administration. The Greenback strengthens on Fed’s hawkish stance on interest rate trajectory. (FXStreet)

WTI prices attract some buyers near $72.90 amid the ongoing Middle East tension. The upbeat US economic data might convince the Federal Reserve (Fed) to keep its benchmark rate higher for longer. The US launched retaliatory airstrikes on Friday against Iran’s Islamic Revolutionary Guard Corps and allied militias in Iraq and Syria. (FXStreet)

Gold price attracts some haven flows amid the cautious market mood, albeit lacks follow-through. Hawkish Fed expectations help limit a modest USD pullback from a multi-month top and cap gains. Traders now look forward to speeches by influential FOMC members for short-term opportunities. (FXStreet)

Source: FXStreet

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