Trading news

West Texas Intermediate (WTI) US Crude Oil prices reverse a modest Asian session dip to the $70.00 neighborhood and climbs to the $71.70-$71.75 region in the last hour.

On Tuesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.9088 compared to the previous day's fix of 6.9236.

AUD/USD continues its recovery for the second successive session, trading around 0.7100 during the Asian hours on Tuesday. The pair appreciates as the Australian Dollar (AUD) receives support from hawkish comments from the Reserve Bank of Australia (RBA) Governor Michelle Bullock.

The EUR/USD pair trades with mild losses around 1.1685, the lowest since late January, during the early Asian session on Tuesday. The US Dollar (USD) gathers strength against the Euro (EUR) as escalating tensions in the Middle East boost safe-haven currencies.

US President Donald Trump said that the “big wave” is yet to come, CNN reported on Tuesday. Meanwhile, US Secretary of State Marco Rubio stated that the United States is preparing for a “major uptick” in attacks in Iran over the next 24 hours. 

A commander in Iran’s Revolutionary Guard Corps (IRGC) said that the Strait of Hormuz is closed and Iran will fire on any ship trying to pass, Reuters reported on Tuesday.

Australia Building Permits (YoY): -15.7% (January) vs previous 0.4%

Australia Building Permits (MoM) came in at -15.7%, below expectations (5.5%) in January

Australia Building Permits (MoM) below forecasts (5.5%) in January: Actual (-7.2%)

South Korea S&P Global Manufacturing PMI declined to 51.1 in February from previous 51.2

Australia Current Account Balance came in at -21.1B below forecasts (-16.3B) in 4Q

United Kingdom BRC Shop Price Index (YoY) came in at 1.1% below forecasts (1.2%) in February

Gold price (XAU/USD) attracts some buyers to near $5,330 during the early Asian session on Monday. The precious metal holds positive ground after reaching $5,420 in the previous session, bolstered by safe-haven flows. Traders will take more clues from the Fedspeak later on Tuesday. 

Japan Capital Spending above forecasts (3%) in 4Q: Actual (6.5%)

Japan Monetary Base (YoY) came in at -10.6% below forecasts (-10.2%) in February

Japan Capital Spending registered at -10.6%, below expectations (3%) in 4Q

Japan Capital Spending came in at 6.5%, above expectations (3%) in 4Q

Japan Unemployment Rate registered at 2.7% above expectations (2.6%) in January

Japan Jobs / Applicants Ratio registered at 1.18, below expectations (1.19) in January

The USD/JPY pair jumps to a near three-week high of 157.35 during the early Asian session on Tuesday. The US Dollar (USD) strengthens against the Japanese Yen (JPY) on the stronger-than-expected US economic data. Bank of Japan (BoJ) Governor Kazuo Ueda is set to speak later on Tuesday.