USD/CNH gains ground after registering modest losses in the previous session, trading around 6.8800 during the Asian hours on Tuesday.

Asian equity markets opened mixed on Tuesday, tracking US stock index futures, as investors remain cautious ahead of US President Donald Trump's deadline for Iran to reopen the Strait of Hormuz.

The advisor to Iran's Parliament Speaker, Mohammad Bagher Ghalibaf,  said on Tuesday that US President Donald Trump has about 20 hours to either surrender to Iran, or his allies will return to the Paleolithic Age. Ghalibaf emphasized that Iran will not back down.

Australia ANZ Job Advertisements: -3.1% (March) vs previous 3.2%

Australia TD-MI Inflation Gauge (YoY) climbed from previous 3.6% to 4.3% in March

New Zealand ANZ Commodity Price declined to 4.1% in March from previous 4.2%

Australia TD-MI Inflation Gauge (MoM) increased to 1.3% in March from previous -0.2%

Ireland AIB Services PMI: 50.7 (March) vs previous 51.8

Japan’s Finance Minister Satsuki Katayama said on Tuesday that G7 finance ministers and central bankers agreed that fluctuating oil prices cause high volatility in financial and foreign exchange markets.

Japan JP Foreign Reserves declined to $1B in March from previous $1410.7B

Japan Overall Household Spending (YoY) below forecasts (-0.7%) in February: Actual (-1.7%)

Gold price (XAU/USD) recovers to near $4,660 during the early Asian session on Tuesday. The precious metal drifts higher as traders watch US President Donald Trump's Tuesday deadline for military strikes on Iranian infrastructure following the closure of the Strait of Hormuz.

Australia S&P Global Services PMI below forecasts (46.6) in March: Actual (46.3)

Australia S&P Global Composite PMI came in at 46.6, below expectations (47) in March

UOB Global Economics & Markets Research highlights that Vietnam’s headline CPI jumped to 4.65% year-on-year in March 2026, driven by higher energy costs, pushing inflation above the State Bank of Vietnam’s 4.5% target.

TD Securities strategists Robert Both and Emma Lawrence highlight that Canadian rates are opening weaker, with yields tracking US moves and geopolitical tensions. They expect CAD employment to show only a modest rebound and see imported volatility dominating.

United States ISM Services New Orders Index rose from previous 58.6 to 60.6 in March

United States ISM Services PMI below forecasts (55) in March: Actual (54)

United States ISM Services Prices Paid: 70.7 (March) vs 63

United States ISM Services Employment Index: 45.2 (March) vs previous 51.8

OCBC strategists Sim Moh Siong and Christopher Wong argue that market hopes for de-escalation in the US–Iran conflict look premature for Brent.

MUFG’s Senior Currency Analyst Lloyd Chan highlights that Asia is highly exposed to potential energy flow disruptions through the Strait of Hormuz. An extended energy shock would raise inflation, worsen current accounts and hurt growth, leaving KRW, PHP and THB vulnerable.

TD Securities analysts expect US ISM Services to soften in March as geopolitical uncertainty from Iran weighs on sentiment. They forecast the index to fall to 54.2, reversing February’s gain, with most components slowing and employment slipping back into contraction.

Commerzbank’s Dr. Henry Hao and Moses Lim note that Indonesia March CPI slowed to 3.5% year-on-year, back within Bank Indonesia’s (BI) target range, but warns that Middle East conflict and higher freight costs pose upside inflation risks.

The United States (US) Institute of Supply Management (ISM) Services Purchasing Managers’ Index (PMI) data for March is scheduled to be published today at 14:00 GMT.

OCBC strategists Sim Moh Siong and Christopher Wong highlight that higher Oil prices and safe-haven flows have re-anchored the Dollar, reversing expectations for a steady USD decline.

Iran has confirmed that it has received the proposal of a ceasefire by the United States (US) through Pakistan and has stated that it is being reviewed, according to a Senior Iranian official, Reuters reports.

Societe Generale economists see the Euro area entering the latest energy shock with improved resilience and reduced Oil and gas intensity.

According to a Reuters report, a source aware of ceasefire proposals between the United States (US) and Iran has stated that both nations are discussing a two-tier deal that involves plans to end hostilities by Monday, followed by the reopening of the Strait of Hormuz and Iran dropping its nuclear a

Here is what you need to know on Monday, April 6: