Japan Retail Trade (YoY) below forecasts (3.5%) in March: Actual (3.1%)

Japan Industrial Production (YoY) declined to -0.3% in March from previous 0.1%

Japan Industrial Production (MoM) registered at -1.1%, below expectations (-0.4%) in March

South Korea Service Sector Output down to -0.3% in March from previous 0.5%

The Mexican Peso (MXN) appreciated against the US Dollar (USD) after touching a daily low of 19.65, as risk appetite improved following the release of softer-than-expected data. At the time of writing, USD/MXN trades at 19.56, down 0.12%.

Australia will release multiple inflation figures on Wednesday and financial markets anticipate price pressures easing further at the beginning of 2025, paving the way for additional Reserve Bank of Australia (RBA) interest rate cuts.

US Secretary of Commerce Howard Lutnick unveiled White House’s plans for US auto markers. 

The USD/CAD pair moves slightly higher to near 1.3855 during North American trading hours on Tuesday. The Loonie pair gains as the US Dollar (USD) ticks higher, with investors turning slightly optimistic on de-escalation in the trade war between the United States (US) and China.

US consumer sentiment extended its decline in April, as the Conference Board’s Consumer Confidence Index fell from 93.9 (revised from 92.9) to 86.0—its weakest reading since April 2020.

United States JOLTS Job Openings below expectations (7.5M) in March: Actual (7.192M)

The USD/JPY pair ticks higher to near 142.30 during the North American session on Tuesday. The pair edges up as the US Dollar (USD) steadies ahead of the United States (US) JOLTS Job Openings data for March, which will be published at 14:00 GMT.

United States (US) Treasury Secretary Scott Bessent said on Tuesday that President Donald Trump is creating "strategic uncertainty" in trade negotiations, per Reuters.

United States Housing Price Index (MoM) below expectations (0.3%) in February: Actual (0.1%)

United States S&P/Case-Shiller Home Price Indices (YoY) came in at 4.5% below forecasts (4.8%) in February

United States Redbook Index (YoY) dipped from previous 7.4% to 6.1% in April 25

United States Wholesale Inventories below forecasts (0.7%) in March: Actual (0.5%)

United States Goods Trade Balance declined to $-162B in March from previous $-147B

GBP/USD slipped from recent highs as UK retail price data confirmed ongoing deflation in shop prices, despite a pickup in food inflation.

EUR/USD is range-bound around 1.1400, BBH FX analysts report, BBH FX analysts report.

The AUD/USD pair retraces to near 0.6400 during European trading hours on Tuesday from an over four-month high of 0.6450 posted earlier in the day.

EUR/USD edges lower to near 1.1400 during European trading hours on Tuesday. The major currency pair ticks lower as the US Dollar (USD) steadies, but remains broadly on edge amid escalating uncertainty about the trade outlook between the United States (US) and China.

Belgium Consumer Price Index (YoY) down to 2.55% in April from previous 2.91%

Belgium Consumer Price Index (MoM) fell from previous -0.07% to -0.83% in April

The latest monthly Consumer Expectations Survey by the European Central Bank showed on Tuesday that Eurozone inflation is seen notably higher for the year ahead in March.

Early this morning, Canada's Liberal Party secured a fourth consecutive term, with Carney elected Prime Minister, as widely expected, Danske Bank's FX analysts report, Danske Bank's FX analysts report.

Belgium Gross Domestic Product (QoQ) climbed from previous 0.2% to 0.4% in 1Q

Eurozone Consumer Confidence in line with forecasts (-16.7) in April

The US Dollar’s underwhelming start of the week served as a reminder that even if the worst of the confidence crisis on the dollar’s reserve value may be past us, markets remain very much minded to link the greenback’s faith with US economic performance.

The Dallas Fed's Manufacturing Activity Indicator delivered more bad news yesterday. At roughly -36, it was almost 19 points worse than expected. New orders plummeted significantly, while prices paid rose significantly. No wonder that the US dollar came under pressure again yesterday.

Portugal Business Confidence down to 2.2 in April from previous 2.4