United States 7-Year Note Auction: 4.175% vs previous 4.255%

The Euro (EUR) trims a part of its intraday losses against the US Dollar (USD) on Tuesday as the Greenback loses momentum, with traders repositioning ahead of the Federal Reserve’s interest rate decision due on Wednesday while continuing to monitor developments in the Middle East.

USD/JPY trades around 159.50 on Tuesday, up modestly by 0.07% on the day, after briefly falling below the 159.00 level following the Bank of Japan’s (BoJ) policy decision.

Tether, the largest stablecoin company, has unveiled a new custom compute Bitcoin (BTC) mining infrastructure in collaboration with Canaan, the world’s leading manufacturer of BTC miners, and ACME Swisstech, a Swiss-based project management firm.

USD/CAD climbed 0.33% on Tuesday, settling close to 1.3670 after a steady grind higher off Monday's intraday low near 1.3600.

The Dow Jones Industrial Average saw marginal gains on Tuesday's session, with futures holding near 49,200 and the underlying cash index adding roughly 0.1%, propped up by a 5% jump in Coca-Cola (KO) after a stronger-than-expected earnings print.

MUFG’s Lee Hardman argues that the recent Japanese Yen (JPY) rebound against the US Dollar (USD) is unlikely to last, as USD/JPY remains in a broader bearish Yen trend since the Middle East conflict began.

USD/CHF edges higher on Tuesday as uncertainty around US-Iran efforts to end the war keeps risk sentiment fragile, supporting demand for the US Dollar (USD) while the Swiss Franc (CHF) struggles to gain despite its safe-haven appeal, amid Swiss National Bank (SNB) warnings of readiness to act agains

Scotiabank strategists Shaun Osborne and Eric Theoret highlight that the Pound (GBP) is underperforming as political uncertainty around PM [Prime Minister] Starmer and fiscal policy weighs on sentiment, even as widening United Kingdom (UK) - United States (US) spreads support GBP fundamentals.

Dogecoin (DOGE) hovers at $0.098 at the time of writing on Tuesday, after facing rejection slightly above the pivotal $0.100 level. The largest meme coin appears to be consolidating within a wider range, with support at $0.090 and a dense supply around $0.100.

United Overseas Bank’s Alvin Liew reports the Bank of Japan (BoJ) left its policy rate at 0.75% but signalled that the next move will be a hike as underlying inflation nears target and real rates stay very low.

TD Securities strategists Oscar Munoz and Eli Nir argue that new inflation tools championed by incoming Fed Chair Kevin Warsh, including trimmed mean measures and a potential big-data price project, will not materially alter the policy outlook.

Consumer sentiment in the United States (US) improved slightly in April, with the Conference Board's (CB) Consumer Confidence Index rising to 92.8 in April from 92.2 in March.

United States Richmond Fed Manufacturing Index above expectations (-4) in April: Actual (3)

BNY’s Bob Savage highlights that the Bank of Japan (BoJ) kept its policy rate at 0.75% in a 6–3 split, raising core inflation forecasts to 2.8% and cutting growth to 0.5%.

Societe Generale analysts note Brent has rallied above $110 per barrel, with negotiations over Iran focused on restoring the status quo and reopening the Strait of Hormuz.

GBP/USD trades lower on Tuesday, hovering around 1.3490 at the time of writing, down 0.33% on the day as investors trim positions ahead of key monetary policy decisions from the Federal Reserve (Fed) and the Bank of England (BoE) later this week.

In a post published on Truth Social on Tuesday, United States (US) President Donald Trump said that Iran has just informed them they are in a "stat of collapse."

The British Pound (GBP) weakens against the Japanese Yen (JPY) on Tuesday as the Yen gains traction following the latest monetary policy decision from the Bank of Japan.

TD Securities analysts highlight that the European Central Bank (ECB) Consumer Expectation Surveys showed a notable upside surprise in 1-year and 3-year inflation expectations.

The United Arab Emirates (UAE) announces its decision to leave the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+), marking a major turning point for the balance of the global energy market.

United States Housing Price Index (MoM) came in at 0% below forecasts (0.2%) in February

United States S&P/Case-Shiller Home Price Indices (YoY) down to 0.9% in February from previous 1.2%

United States Redbook Index (YoY) climbed from previous 6.7% to 7.7% in April 24

Danske Bank’s Danske Research Team notes that the Bank of Japan (BoJ) kept its policy rate at 0.75% with a closer 6-3 vote, reinforcing expectations for a potential June or summer hike.

Ripple (XRP) is edging lower below $1.40 at the time of writing on Tuesday, as the broader crypto market faces renewed volatility. The remittance token is under intense sell-side pressure and struggling to hold key support levels amid growing risk-off sentiment.

Antje Praefcke at Commerzbank discusses the likely confirmation of Kevin Warsh as new Fed Chair in May, potentially succeeding Jerome Powell by mid‑month.