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NZD/USD rose over 0.55% on Tuesday, printing a session high near 0.5920 before pulling back to settle around 0.5900.

The NZD/USD pair is trading with a bullish bias near the 0.5900 level on Wednesday, as the New Zealand Dollar (NZD) gains strength amid improving global risk sentiment and a weaker US Dollar (USD).

AUD/USD extended its bullish push on Tuesday, gaining around 0.38%, but gave back some top-end gains after touching a session high close to 0.7150.

USD/JPY fell around 0.4% on Tuesday, slipping back below the 159.00 handle to settle close to 158.85.

The EUR/USD rallies for the seventh straight session as the Greenback falls to a six-week low amid hopes of US-Iran talks in the week ahead, while US data remains in the back seat despite a jump in inflation. At the time of writing, the pair trades around 1.1790, up 0.30%.

AUD/USD trades with a mild positive bias on Tuesday, supported by a softer US Dollar (USD) as renewed hopes of US-Iran talks weigh on the Greenback and lift demand for risk-sensitive currencies like the Australian Dollar (AUD).

The USD/JPY pair is trading with a bearish bias near the 158.90 region on Tuesday, extending recent losses as the US Dollar (USD) continues to soften amid improving risk sentiment on renewed hopes of United States (US)-Iran negotiations.

USD/CAD trims some of its earlier losses on Tuesday as easing Oil prices on renewed US-Iran talks optimism weigh on the commodity-linked Canadian Dollar (CAD), helping the pair recover from intraday lows even as improving risk sentiment keeps the US Dollar (USD) under broad pressure.

The Pound Sterling advances as traders remain optimistic about a possible resolution to the US-Iran conflict. At the same time, the US Dollar weakens amid a hot US inflation report that missed forecasts for a higher print. The GBP/USD trades near 1.3590, gaining 0.61%.

Scotiabank notes the Pound is up 0.3% versus the Dollar, trading at pre‑conflict highs as investors welcome strong demand for UK debt. Domestic data risk is light before trade and industrial production, while BoE speakers, including Gov. Bailey, pose event risk.

The Euro (EUR) edges higher against the US Dollar (USD) on Tuesday, with EUR/USD extending gains for a seventh consecutive day and returning to levels last seen when the US-Iran conflict began. At the time of writing, the pair is trading around 1.1800, up roughly 0.37% on the day.

Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is making modest gains versus a softer US Dollar (USD), though it lags core majors and weakens on crosses. They estimate USD/CAD equilibrium at 1.3527, with undervaluation correcting mainly via Dollar softness.

GBP/JPY advances on Tuesday, extending gains for a seventh consecutive day as elevated Oil prices continue to weigh on the Japanese Yen (JPY), while improving market sentiment, driven by renewed hopes of US-Iran negotiations, supports the British Pound (GBP).

Commerzbank’s Tatha Ghose warns that USD/TRY is gaining momentum towards 45.00 as Turkey faces a worsening external backdrop and extended energy price shock.

The Australian Dollar (AUD) appreciated for the second consecutive day against the US Dollar (USD) on Tuesday, reaching four-week highs above 0.7120 at the time of writing and drawing closer to the 2026 high at 0.7187.

Rabobank analysts flag that final March CPI across the Eurozone will refine how the Hormuz-driven energy shock feeds into Euro-area inflation.

The NZD/USD pair trades 0.5% higher to near 0.5900 during the European trading session on Tuesday. The Kiwi pair strengthens as the New Zealand Dollar (NZD) outperforms its peers amid risk-on market sentiment.

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ING strategist Francesco Pesole notes that Bank of England Governor Andrew Bailey and hawkish MPC members Catherine Mann and Megan Greene speak today, with Greene recently sounding more balanced.

Commerzbank’s Volkmar Baur highlights Australia’s growing dependence on imported diesel, with around 87% of demand met by imports in 2025.

Societe Generale strategists note EUR/USD has squeezed through 1.1750 and is approaching its pre-conflict level of 1.18, with support at 1.1673 and resistance at 1.1830.

OCBC strategists Sim Moh Siong and Christopher Wong highlight that Japanese Yen underperformed despite a softer US Dollar, as muted BoJ communication left it isolated. Markets have pared April BoJ hike expectations, yet OCBC still sees an April rate hike as likely.

The Euro (EUR) keeps trading sideways around 0.8700 against the British Pound GBP) on Tuesday.

The Pound Sterling (GBP) outperforms the US Dollar (USD), while trading mixed against other currency peers, during the European trading session on Tuesday.

EUR/JPY halts its three-day winning streak, inching lower after reaching all-time highs and trading around 187.40 during the European hours on Tuesday.

MUFG’s Senior Currency Analyst Lee Hardman highlights continued Japanese Yen underperformance, with USD/JPY trading just below 160.00 even as the US Dollar (USD) weakens elsewhere.

Silver (XAG/USD) is rushing higher on Tuesday, reaching fresh two-week highs right below $78.00 at the time of writing, after bouncing from lows around $72.60 on Monday.

ING’s Francesco Pesole highlights that ECB President Christine Lagarde and other Governing Council members are expected to maintain a broadly hawkish tone given Gulf volatility. Markets price modest tightening at the 30 April meeting and two further hikes this year.

UOB strategists Lee Sue Ann and Quek Ser Leang note AUD/USD rebounded sharply from 0.6979 to 0.7101, leaving the pair overextended in the near term. They see scope for a further push toward 0.7120, while questioning whether momentum is strong enough to reach 0.7155.