Germany ZEW Survey – Economic Sentiment registered at -10.2 above expectations (-19.8) in May

Germany ZEW Survey – Current Situation came in at -77.8 below forecasts (-77.5) in May

The USD/JPY pair reverses a knee-jerk decline to the 156.75-156.70 region and climbs to the top end of its daily range during the first half of the European session.

Michael Pfister at Commerzbank discusses rising pressure on United Kingdom (UK) Prime Minister Keir Starmer and the implications for the Pound. Markets increasingly expect his resignation, with attention turning to potential successors’ fiscal stances.

Rabobank's Senior Market Strategist Benjamin Picton highlights comments from Australian Prime Minister Albanese and Treasurer Chalmers ahead of the Commonwealth budget, stressing concerns over an expensive housing market and planned tax changes.

The AUD/USD pair continues with its struggle to find acceptance above the 0.7250 level and attracts fresh sellers on Tuesday as rising US-Iran tensions boost the safe-haven US Dollar (USD).

ING’s Francesco Pesole notes EUR/USD has held up with risk sentiment despite Gulf tensions, but warns current levels may not withstand an equity correction.

The USD/CAD pair trades 0.12% higher to near 1.3695 during the European trading session on Tuesday.

The GBP/JPY cross struggles to capitalize on the previous day's bounce from the 100-day Simple Moving Average (SMA) and attracts heavy intraday selling on Tuesday.

Silver (XAG/USD) accelerates its reversal in the early European session on Tuesday, trading at $84.80 at the time of writing, after rejection at two-month highs right above $87.00 earlier in the day.

MUFG’s Lloyd Chan flags India’s April Consumer Price Index (CPI) release as a key risk for the Indian Rupee (INR), with higher energy prices and a softer currency building inflation tailwinds.

The GBP/USD pair is down 0.3% to near 1.3570 during the European trading session on Tuesday. The Cable faces selling pressure as the US Dollar (USD) outperforms its peers due to a risk-off market mood.

The EUR/GBP cross gains traction near 0.8665 during the early European session on Tuesday. The British Pound (GBP) weakens against the Euro (EUR) amid political instability in the United Kingdom (UK). Traders brace for the ZEW surveys from Germany and the Eurozone, which are due later on Tuesday. 

UOB strategists Quek Ser Leang and Lee Sue Ann note AUD/USD gapped down to 0.7205 before rebounding to close near 0.7250, with intraday risks skewed toward a retest of 0.7220 while 0.7205 is expected to hold. Over 1–3 weeks, they see scope for the pair to edge higher but capped below 0.7280.

Germany Consumer Price Index (MoM) in line with forecasts (0.6%) in April

Germany Harmonized Index of Consumer Prices (YoY) meets expectations (2.9%) in April

Germany Harmonized Index of Consumer Prices (MoM) meets forecasts (0.5%) in April

Germany Consumer Price Index (YoY) meets forecasts (2.9%) in April

The Australian Dollar (AUD) trades cautiously against its major currency peers, is 0.23% down to near 0.7230 against the US Dollar (USD), during the late Asian trading session on Tuesday. The antipodean will likely remain volatile ahead of the Australian Budget release for 2026 at 09:30 GMT.

The USD/JPY pair gains momentum to near 157.55 during the early European trading hours on Tuesday. Renewed geopolitical tensions in the Middle East lift the US Dollar (USD) against the Japanese Yen (JPY).

The Indian Rupee (INR) slumps to a fresh all-time low against the US Dollar (USD) in the opening session on Tuesday.

EUR/USD extends its losses for the second successive day, trading around 1.1760 during the Asian hours on Tuesday. The daily chart technical analysis indicates an ongoing bullish bias as the pair is remaining within the ascending channel pattern.

The AUD/JPY cross gathers strength near 114.00 during the early European trading hours on Tuesday. A hawkish tone from the Reserve Bank of Australia (RBA) provides some support to the Australian Dollar (AUD) against the Japanese Yen (JPY). 

The USD/CHF pair attracts some follow-through buying for the second straight day, with bulls looking to extend the momentum further beyond the 0.7800 mark during the Asian session.

The US Bureau of Labor Statistics (BLS) will publish the April Consumer Price Index (CPI) data on Tuesday.

The GBP/USD pair loses momentum to near 1.3590 during the early Asian session on Tuesday. The British Pound (GBP) weakens against the US Dollar (USD) as traders focus on key US economic data and Middle East geopolitical tensions. 

USD/CAD gains ground after being nearly flat the previous day, trading around 1.3690 during Asian hours on Tuesday. The pair is seeing renewed upward pressure as the US Dollar (USD) strengthens on the back of intensifying geopolitical risks.

The NZD/USD pair struggles to capitalize on the previous day's move higher and meets with a fresh supply during the Asian session on Tuesday amid a modest US Dollar (USD) uptick.

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Tuesday at 6.8426 compared to the previous day's fix of 6.8467 and 6.7945 Reuters estimate.

AUD/USD loses ground after two days of gains, trading around 0.7240 during the Asian hours on Monday. The technical analysis of the daily chart indicates that the pair is moving upwards within the ascending channel, suggesting an ongoing bullish bias.