The Euro (EUR) extends losses against the US Dollar (USD) on Tuesday, reaching session lows right above 1.1750 at the time of writing after failing to extend Monday’s gains past 1.1790.

The USD/CHF pair trades 0.25% higher at around 0.7800 during the European trading session on Tuesday.

OCBC strategists Sim Moh Siong and Christopher Wong argue that Swiss Franc (CHF) safe-haven demand is being constrained by perceived Swiss National Bank (SNB) intervention risk.

The New Zealand Dollar (NZD) appreciates for the second consecutive day against the US Dollar (USD) on Tuesday, fuelled by stronger-than-expected New Zealand inflation figures and a moderate optimism about a resolution of the Middle East conflict.

United Overseas Bank’s (UOB) strategists Quek Ser Leang and Lee Sue Ann expect USD/JPY to remain range-bound after recent volatility. For the day, the pair is seen between 158.50 and 159.20, with flat momentum indicators. Over 1–3 weeks, UOB projects a 157.55–160.50 band.

Commerzbank analysts highlight that the Reserve Bank of India (RBI) has rolled back some Non-Deliverable Forward (NDF) restrictions, allowing authorized dealers to offer NDFs, roll over and cancel related-party contracts, and use back-to-back hedging.

Deutsche Bank’s Chief UK Economist Sanjay Raja assesses the latest United Kingdom (UK) labour market data as stronger on the surface but still fragile underneath. He notes the surprise drop in unemployment and softer wage growth, which may comfort the Bank of England (BoE).

The USD/CAD pair remains on the defensive around 1.3650 during the early European session on Tuesday. Rising oil prices due to Middle East tension provide some support to the commodity-linked Loonie.

The Euro keeps treading water within a broadly 20-pip range against the British Pound (GBP). The pair retreated from session highs at 0.8713, amid upbeat UK unemployment figures, and remains moving without a clear bias, with downside attempts contained above 0.8700 and bulls limited below 0.8720.

The GBP/JPY cross struggles to capitalize on the previous day's bounce from the 214.20-214.15 region and oscillates in a narrow band through the early European session on Tuesday.

The Pound Sterling’s (GBP) initial reaction remains positive against its major currency peers after the release of the United Kingdom (UK) labor market data for the three months ending February. The GBP/USD pair is still marginally down to near 1.3525 during the European trading session on Tuesday.

Commerzbank’s Volkmar Baur notes New Zealand inflation at 3.1% year-on-year, slightly above the Reserve Bank of New Zealand (RBNZ) target, and warns that higher energy prices could push it further. He sees a possible rate hike in late May, which might briefly support the New Zealand Dollar (NZD).

The USD/JPY pair consolidates around 159.00 during the late Asian trading session on Tuesday.

The Indian Rupee (INR) trades lower against the US Dollar (USD) at open on Tuesday.

The AUD/JPY cross edges lower to around 113.95 during the early European session on Tuesday. The Japanese Yen (JPY) gathers strength against the Australian Dollar (AUD) as markets turn cautious ahead of potential US-Iran peace talks. 

The AUD/USD pair struggles to capitalize on the previous day's goodish rebound from the 0.7115 region, or a three-day low, and attracts some sellers during the Asian session on Tuesday.

The EUR/JPY cross struggles to capitalize on the previous day's goodish rebound from the 186.25 area, or a one-week low, and oscillates in a narrow range during the Asian session on Tuesday.

USD/CHF edges higher after registering modest losses in the previous day, trading around 0.7790 during the Asian hours on Tuesday.

The NZD/USD pair trades 0.3% higher above 0.5900 during the Asian trading session on Tuesday. The Kiwi pair gains as the market sentiment turns risk-on due to reports claiming that Iran has agreed to another round of peace talks with the United States (US).

GBP/USD inches lower after registering modest gains in the previous day, trading around 1.3520 during the Asian hours on Tuesday. The technical analysis of the daily chart indicates an ongoing bullish bias, as the pair moves within the ascending channel pattern.

USD/CAD remains subdued for the seventh consecutive day, trading around 1.3640 during the Asian hours on Tuesday.

AUD/USD inches lower after little gains registered in the previous day, trading around 0.7170 during the Asian hours on Tuesday.

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Tuesday at 6.8594 compared to the previous day's fix of 6.8648 and 6.8112 Reuters estimate.

The USD/JPY pair regains some positive traction following the previous day's two-way directionless price moves and climbs to the 159.00 mark during the Asian session on Tuesday.

The EUR/USD pair trades with mild losses near 1.1785 during the early Asian session on Tuesday. Traders continue to digest ongoing Middle East tensions ahead of the 14-day ceasefire expiration. The ZEW Survey from Germany and the Eurozone is due later on Tuesday.

The NZD/USD pair gains momentum to around 0.5910 during the early Asian session on Tuesday. The New Zealand Dollar (NZD) strengthens against the US Dollar (USD) following hotter-than-expected domestic inflation data.

GBP/USD advanced 0.1% on Monday, trading around 1.3530 after pulling back from last week's peak near 1.3600.

AUD/USD slipped roughly 0.2% on Monday, trading near 0.7180 after opening the week with a downside gap close to 0.7115. The pair clawed back most of the early weakness through the session, though price remains below Friday's peak around 0.7220.

USD/JPY edged lower by less than 0.1% on Monday, trading in a tight range around 158.80.

Silver price falls more than 1% after gapping down over the weekend as pessimism overtook last Friday’s upbeat mood, as the Strait of Hormuz was closed and the US escalated tensions after seizing an Iran-flagged vessel. XAG/USD trades at $79.78, after reaching a daily high of $79.80.