Japan Retail Trade s.a (MoM): -1.2% (March) vs previous 0.5%

Japan Large Retailer Sales increased to 3% in March from previous 2%

Japan Retail Trade (YoY) below forecasts (3.5%) in March: Actual (3.1%)

Japan Industrial Production (YoY) declined to -0.3% in March from previous 0.1%

Japan Industrial Production (MoM) registered at -1.1%, below expectations (-0.4%) in March

South Korea Industrial Output (YoY) dipped from previous 7% to 5.3% in March

South Korea Service Sector Output down to -0.3% in March from previous 0.5%

South Korea Industrial Output Growth rose from previous 1% to 2.9% in March

The USD/JPY pair is trading around the 142.00 handle during the North American session on Tuesday. The pair saw some upward movement as the US Dollar (USD) steadied following the release of softer-than-expected US JOLTS Job Openings data and a sharp drop in Consumer Confidence.

In the lead-up to Tuesday's Asian trading session, EUR/JPY has seen a minor decline, trading near the 162.00 mark. Despite a sell signal from one momentum indicator, the broader technical landscape suggests underlying bullish strength, supported by several key moving averages.

Australia will release multiple inflation figures on Wednesday and financial markets anticipate price pressures easing further at the beginning of 2025, paving the way for additional Reserve Bank of Australia (RBA) interest rate cuts.

The AUD/NZD has experienced some downward pressure, hovering near the 1.07 zone on Tuesday. Despite mixed signals from some momentum indicators, the longer-term technical picture appears to favor the bears, with several moving averages reinforcing this sentiment.

United States API Weekly Crude Oil Stock: 3.76M (April 25) vs -4.565M

The AUD/USD pair is struggling near the 0.6400 level as trade policy uncertainty continues to impact sentiment. Investors are awaiting critical data this week, including the US Nonfarm Payrolls (NFP) and GDP figures, which could influence the Federal Reserve’s (Fed) stance on interest rates.

Gold price retreats during the North American session on Tuesday as the Greenback stages a recovery, posting modest gains amid softer US economic data and reduced safe-haven demand. At the time of writing, XAU/USD trades at $3,323, down 0.60%.

The renewed buying pressure prompted the Greenback to leave behind Monday’s pessimism and chart decent gains on Tuesday, always on the back of mitigating US-China trade concerns and rising prudence ahead of key US data releases later in the week.

The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, is showing muted gains on Tuesday after soft labor market and consumer sentiment data raised expectations for policy easing.

The Dow Jones Industrial Average (DJIA) surged over 300 points or 0.80% on Tuesday as softer-than-expected United States (US) economic data suggested the need for lower interest rates, as witnessed by the fall of US Treasury yields.

The USD/CHF pair is trading around 0.8900 during the North American session on Tuesday, benefiting from broader US Dollar (USD) strength. US Secretary of Commerce Howard Lutnick revealed White House plans aimed at easing tariffs on US automakers, supporting a mild recovery in global risk appetite.

The EUR/CAD was seen trading around the 1.5800 zone after the European session on Tuesday, showing little movement on the day after a slight decline. Despite the minor dip, the overall technical setup stays bullish.

US Secretary of Commerce Howard Lutnick unveiled White House’s plans for US auto markers. 

The EUR/USD is flashing a bullish tone on Tuesday’s session after the European close, even as the pair slightly retraced from earlier highs and now trades near the mid-1.13 to low-1.14 area. Despite a modest dip during the session, broader technical signals continue to suggest upside potential.

The Pound Sterling depreciates against the US Dollar and falls after testing the year-to-date (YTD) high of 1.3443. However, it fails to remain above 1.34 as it extends its losses. At the time of writing, the GBP/USD trades at 1.3379, down 0.29%.

The USD/CAD pair moves slightly higher to near 1.3855 during North American trading hours on Tuesday. The Loonie pair gains as the US Dollar (USD) ticks higher, with investors turning slightly optimistic on de-escalation in the trade war between the United States (US) and China.

Citing two sources familiar with the matter, Reuters reported on Tuesday that China has decided to waive the 125% tariff on ethane imports from the United States imposed earlier this month.

US consumer sentiment extended its decline in April, as the Conference Board’s Consumer Confidence Index fell from 93.9 (revised from 92.9) to 86.0—its weakest reading since April 2020.

United States JOLTS Job Openings below expectations (7.5M) in March: Actual (7.192M)