The USD/JPY pair ticks lower to near 159.60 during the European trading session on Tuesday.

Germany Unemployment Change below expectations (2K) in February: Actual (0K)

Germany Unemployment Rate s.a. in line with expectations (6.3%) in February

The Eurozone preliminary Harmonized Index of Consumer Prices (HICP) data for March is scheduled to be published today at 09:00 GMT.

Standard Chartered’s Nicholas Chia and Chong Hoon Park note that new Bank of Japan (BoJ) data show underlying inflation near or above target and a positive output gap, while USD/JPY testing 160 raises the risk of earlier rate hikes than their current Q3 baseline.

The Euro (EUR) is pulling back against the British Pound on Tuesday, trimming some gains after rallying by more than 0.5% over the previous two days.

Here is what you need to know on Tuesday, March 31:

The EUR/JPY pair trades with caution around 182.90 during the early European trading session on Tuesday.

The GBP/JPY cross attracts fresh sellers following an intraday uptick to the 211.22 area and retreats to the lower end of its daily range during the early part of the European session on Tuesday.

France Consumer Price Index (EU norm) (MoM) up to 1.1% in March from previous 0.7%

France Consumer Price Index (EU norm) (YoY) in line with expectations (1.9%) in March

France Producer Prices (MoM) meets expectations (-0.2%) in February

Rabobank’s Global Strategist Michael Every notes the Reserve Bank of Australia (RBA) minutes stress that it is not possible to predict the cash rate path with confidence given Middle East conflict uncertainty.

The US Dollar (USD) appreciates for the seventh consecutive day against the Canadian Dollar (CAD) on Tuesday. The pair consolidates gains above 1.3920 at the time of writing, after hitting a fresh 2026 high, at 1.3945 on Monday.

Danske Bank analysts highlight that Japanese inflation is set to pick up on higher Oil prices and a weaker Japanese Yen (JPY), with markets already pricing a strong chance of an April Bank of Japan (BoJ) hike.

Commerzbank’s Michael Pfister argues that, despite a sharper repricing of European Central Bank (ECB) tightening versus the Fed since the latest energy shock, the Euro (EUR) still lags the Dollar (USD) in terms of real policy support.

Germany Retail Sales (MoM) came in at -0.6% below forecasts (0.2%) in February

Germany Retail Sales (YoY) below forecasts (1%) in February: Actual (0.7%)

The EUR/USD pair attracts bids after a five-day losing streak and edges higher to near 1.1475 during the Asian trading session on Tuesday. The major currency pair ticks up as the US Dollar (USD) edges down amid hopes of an end to the month-long war in the Middle East.

GBP/USD halts its five-day losing streak, trading around 1.3200 during the Asian hours on Tuesday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair moves downwards within the descending channel pattern.

The USD/JPY pair attracts fresh sellers following a modest Asian session uptick to the 160.00 neighborhood on Tuesday, though it manages to hold above the previous day's swing low.

AUD/JPY remains steady after registering losses in the previous trading day, hovering around 109.70 during the Asian hours on Tuesday. The currency cross could weaken as the Australian Dollar (AUD) holds losses following the release of China’s NBS Purchasing Managers’ Index (PMI) data.

The USD/CHF pair ticks lower to near 0.7985 during the Asian trading session on Tuesday, struggling to extend its five-day winning streak, as the US Dollar (USD) faces slight selling pressure on reports that United States (US) President Donald Trump is willing to make peace with Iran without forcing

The AUD/USD pair seesaws between tepid gains/minor losses during the Asian session on Tuesday and consolidates its recent losses registered over the past week or so, to its lowest level in over two months, touched the previous day.

USD/CAD remains stronger for the seventh consecutive day, trading around 1.3930 during the Asian hours on Tuesday. The pair holds ground as the commodity-linked Canadian Dollar (CAD) struggles amid lower oil prices, given Canada’s status of the largest crude exporter to the United States (US).

NZD/USD halts its five-day losing streak, trading around 0.5730 during the Asian hours on Tuesday. The pair remains stronger as the New Zealand Dollar (NZD) remains stronger following the release of China’s NBS Purchasing Managers’ Index (PMI) data.

EUR/USD inches higher after five days of losses, trading around 1.1480 during the Asian hours on Tuesday.

The GBP/USD pair stages a modest recovery from the 1.3160-1.3155 area, or over a four-month trough touched during the Asian session this Tuesday, and for now, seems to have snapped a five-day losing streak.

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Tuesday at 6.9194 compared to the previous day's fix of 6.9223 and 6.9209 Reuters estimate.

The USD/JPY pair builds on the previous day's late rebound from the 159.35-159.30 area and gains some positive traction during the Asian session on Tuesday.