The Eurozone preliminary Harmonized Index of Consumer Prices (HICP) data for February is scheduled to be published today at 10:00 GMT.

The AUD/JPY cross trades on a flat note around 111.45 during the early European session on Tuesday. Hawkish rhetoric from the Reserve Bank of Australia (RBA) could provide some support to the Australian Dollar (AUD) against the Japanese Yen (JPY). 

The Pound Sterling (GBP) trades lower against its major currency peers, slides 0.3% to near 1.3360 against the US Dollar (USD) during the European trading session on Tuesday.

USD/CHF gains ground for the second successive session, trading around 0.7810 during the Asian hours on Tuesday. The pair advances as the US Dollar (USD) strengthens on heightened safe-haven demand amid the Middle East war.

The USD/CAD pair trades in a tight range around 1.3670 during the late Asian trading session on Tuesday. The Loonie pair consolidates as the strengthening Canadian Dollar (CAD) due to surging oil prices amid war between the United States (US), Israel, and Iran has offset the firm US Dollar (USD).

The AUD/USD pair trades 0.2% higher to near 0.7110 during the Asian trading session on Tuesday. The Aussie pair trades firmly as the Australian Dollar (AUD) outperforms its peers, following hawkish remarks from Reserve Bank of Australia (RBA) Governor Michele Bullock on the monetary policy outlook.

The EUR/JPY cross posts modest losses around 183.90 during the early European session on Tuesday. The Japanese Yen (JPY) strengthens against the Euro (EUR) as rising geopolitical tensions in the Middle East boost the safe-haven demand.

The GBP/JPY cross meets with some supply near the 211.35 area during the Asian session on Tuesday and stalls the previous day’s goodish rebound from the 209.00 mark, or a four-day low.

The EUR/USD pair trades flat at around 1.1680 during the Asian trading session on Tuesday, but broadly seems vulnerable, being close to its five-week low.

GBP/USD edges higher after three days of losses, trading around 1.3400 during the Asian hours on Tuesday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

The USD/JPY pair ticks down to near 157.25 during the Asian trading session on Tuesday, but is still close to its over-a-month high of 157.75 posted on Monday.

Silver price (XAG/USD) retreats to near $89.25 during the early Asian session on Tuesday. The white metal faces significant volatility amid escalaring tensions in the Middle East following US-Israeli strikes on Iran.

USD/CAD holds ground after registering modest gains in the previous session, trading around 1.3670 during the Asian hours on Tuesday. However, the pair depreciated as the commodity-linked Canadian Dollar (CAD) received support from higher Oil prices.

The NZD/USD pair edges higher during the Asian session on Tuesday, though it lacks bullish conviction and remains within striking distance of over a five-week low, touched the previous day. Spot prices currently trade around mid-0.5900s, up 0.15% for the day.

On Tuesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.9088 compared to the previous day's fix of 6.9236.

AUD/USD continues its recovery for the second successive session, trading around 0.7100 during the Asian hours on Tuesday. The pair appreciates as the Australian Dollar (AUD) receives support from hawkish comments from the Reserve Bank of Australia (RBA) Governor Michelle Bullock.

The EUR/USD pair trades with mild losses around 1.1685, the lowest since late January, during the early Asian session on Tuesday. The US Dollar (USD) gathers strength against the Euro (EUR) as escalating tensions in the Middle East boost safe-haven currencies.

The USD/JPY pair jumps to a near three-week high of 157.35 during the early Asian session on Tuesday. The US Dollar (USD) strengthens against the Japanese Yen (JPY) on the stronger-than-expected US economic data. Bank of Japan (BoJ) Governor Kazuo Ueda is set to speak later on Tuesday.

Commerzbank’s Charlie Lay and Moses Lim highlight that the People’s Bank of China has removed the 20% reserve requirement on foreign currency forwards, reducing the cost of short CNY positions. They argue this likely aims to slow CNY appreciation even as USD/CNY and USD/CNH have recently fallen.

GBP/USD fell around one-half of one percent on Monday, briefly sliding to an eleven-week low around 1.3310 in early trade before staging a mid-session recovery to settle close to the 1.3400 handle.

The AUD/JPY recovers from earlier losses, advances some 0.38% on Tuesday even though risk aversion is ruling the financial markets as tensions in the Middle East had risen. Hawkish comments of RBA’s Governor Bullock propel the Aussie Dollar higher. At the time of writing, the cross-trades at 111.62.

GBP/JPY rises during the North American session up by 0.24% after recoverying from hitting daily lows of 209.35 amid risk aversion spurred by the Middle East conflict between the US and Iran. At the time of writing, the cross-pair trades at 210.98, about to overcome the 211.00 hurdle.

The Swiss Franc was the standout safe-haven performer on early Monday trading, rallying sharply against the Euro and most major currencies as the US-Israeli military strikes on Iran triggered a broad flight to safety.

The Australian Dollar register loses versus the Greenback following over-the-weekend developments, which triggered a flight to safety, weighing on the AUD/USD pair. At the time of writing, it trades at 0.7083, down 0.37%.

NZD/USD trades under pressure on Monday as the New Zealand Dollar (NZD) weakens against the US Dollar (USD) amid escalating geopolitical tensions in the Middle East.

The Euro (EUR) edges lower against the US Dollar (USD) on Monday, with EUR/USD sliding more than 1% as investors rotate into the safe-haven Greenback amid escalating geopolitical tensions in the Middle East.

USD/CHF trades around 0.7800 on Monday at the time of writing, up 1.50% on the day, as the US Dollar (USD) extends gains that were already in place before the release of US manufacturing data.

The Canadian Dollar (CAD) trades on the back foot against the US Dollar (USD) on Monday as the US-Iran war sparks a risk-off mood in global markets, boosting demand for the safe-haven Greenback and weighing on risk-sensitive currencies.

The GBP/USD retreats some 0.49% on Monday amid risk aversion sponsored by the conflict in the Middle East between the alliance of the US and Israel against Iran. Consequently, safe-haven peers like the US Dollar remains bid in the day, hence weighed on the pair.

USD/JPY trades around 157.50 on Monday at the time of writing, up 0.84% on the day, moving closer to the February high at 157.66 and maintaining a bullish tone supported by the strength of the US Dollar (USD).