United States Redbook Index (YoY) dipped from previous 4.9% to 4.7% in June 6

Gold price is trading slightly higher against the US Dollar (USD) on Tuesday, with the precious metal trading near $3,340 at the time of writing.

59 of 105 economists polled by Reuters said that they expect the Federal Reserve (Fed) to resume cutting interest rates in the next quarter, likely in September.

Brazil IPCA Inflation declined to 0.26% in May from previous 0.43%

The Japanese Yen (JPY) is strengthening against the British Pound (GBP) on Tuesday, following the release of employment data that suggests the UK economy may be under pressure.

EUR/USD has retraced previous losses during Tuesday's European session, returning above 1.1420 at the time of writing.

The Pound Sterling (GBP) faces a sharp selling pressure against its peers on Tuesday after the United Kingdom (UK) Office for National Statistics (ONS) reported that the labor market cooled down in three months ending April.

The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, gives back its early gains and flattens around 99.00 during European trading hours on Tuesday.

The Euro (EUR) is also entering Tuesday’s NA session unchanged vs. the US Dollar (USD) with a modest recovery of mild late Asian/early European session weakness, Scotiabank's Chief FX Strategist Shaun Osborne notes.

The Canadian Dollar (CAD) is entering Tuesday’s NA session unchanged from Monday’s close, recovering from mild weakness observed in late Asian / early European trade, Scotiabank's Chief FX Strategist Shaun Osborne notes.

The Euro is rallying against a weaker Pound on Tuesday, with bulls pushing against the top of last month’s trading range, at 0.8460, favoured by weak UK employment figures and positive data from the Eurozone.

Currency markets are generally quiet as we move into Tuesday’s NA session. All of the G10 currencies are trading in a relatively tight range, with the exception of GBP as it underperforms on the back of a weaker domestic employment release.

USD/JPY briefly breached the psychologically significant 145.00 level before pulling back, as dovish remarks from BOJ Governor Ueda reinforced market expectations for a slow and cautious policy normalization.

Gold (XAU/USD) has reversed course durub¡ng the European trading session on Tuesday, and is showing moderate gains, approaching resistance at $3,340 as the Dollar gives away gains with optimism about the outcome of the US-China meeting wearing off.seemsA mild enthusiasm on the back of the positive c

South Africa Manufacturing Production Index (YoY) dipped from previous -0.8% to -6.3% in April

US Dollar (USD) is likely to trade in a range of 7.1700/7.1900 against Chinese Yuan (CNH). In the longer run, USD has likely moved into a 7.1620/7.2200 range trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

According to Bloomberg, Chinese exports rose by 4.8% year-on-year in US dollar terms in May, which was slightly below the consensus forecast of 6%. However, imports fell much more sharply than expected, declining by 3.4% year-on-year.

US Dollar (USD) is likely to consolidate in a range of 144.00/145.00. In the longer run, increase in momentum is not sufficient to indicate a sustained advance just yet; USD must first break and hold above 145.50, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Silver price (XAG/USD) claws back initial losses and rebounds to near $36.70 from the intraday low of $36.30 during European trading hours on Tuesday.

Commerzbank's position with regard to the unemployment rate is very similar to last year's and currently stands at 4.2%, having changed very little in recent months. A year ago, it was 4.0%, rising only very slowly in the preceding months.

EUR/NOK is retreating after failing to break above the key resistance zone of 12.05–12.12, marking last year's highs. The pair has established a short-term floor near 11.43 but lacks momentum for a strong rebound.

The US Dollar is trading without a clear bias, for the second consecutive day, against the Japanese Yen.

New Zealand Dollar (NZD) may test the 0.6070 level before levelling off against US Dollar (USD); the major resistance at 0.6095 is likely out of reach.

On Monday, representatives from the US and China met in London for trade talks. Prior to the meeting, it was reported that Chinese exports had increased by 5.4% in May. However, exports to the US slumped by over 34%, marking the sharpest decline since the start of the pandemic.

There is potential for AUD to test 0.6535; mild momentum suggests a clear break above this level is unlikely. In the longer run, bias remains on the upside, but it remains to be seen if AUD can break clearly above 0.6555, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

United States NFIB Business Optimism Index registered at 98.8 above expectations (95.9) in May

Examining FX performance from both a spot and total return perspective over the last month reveals a bloc of four currencies that stand out. These are the Norwegian Krone, the Pound Sterling and the Australian and New Zealand Dollars. What does GBO have in common with these commodity currencies?

United States (US) Commerce Secretary Howard Lutnick told reporters on Tuesday that trade talks with China are going well and added that he expects talks to continue all day, per Reuters.

The AUD/USD pair flattens around 0.6500 during European trading hours on Tuesday. The Aussie pair trades in a tight range as investors have sidelined, awaiting the outcome of trade talks between the United States (US) and China in London, which started on Monday.

Germany 5-y Note Auction up to 2.14% from previous 2.07%