US Commerce chief Howard Lutnick stated on Tuesday that President Trump is set to make his trade deal decisions this week, despite ongoing negotiations with China and the European Union, ahead of the August 1 deadline.

The Euro (EUR) continues to weaken against the British Pound (GBP) for a second consecutive day on Tuesday, dragged down by rising backlash to the US‑EU trade deal announced over the weekend.

United States S&P/Case-Shiller Home Price Indices (YoY) came in at 2.8%, below expectations (3%) in May

United States Housing Price Index (MoM) meets expectations (-0.2%) in May

The Job Openings and Labor Turnover Survey (JOLTS) will be released on Tuesday by the United States (US) Bureau of Labor Statistics (BLS). The publication will provide data about the change in the number of Job Openings in June, alongside the number of layoffs and quits.

United States Redbook Index (YoY) dipped from previous 5.1% to 4.9% in July 25

United States Wholesale Inventories came in at 0.2%, above forecasts (-0.1%) in June

United States Goods Trade Balance above forecasts ($-98.4B) in June: Actual ($-85.9B)

The US Dollar (USD) is holding firm on Tuesday after posting its strongest single-day gain since May, rallying 1.0% on Monday. The rally came after the United States (US) and European Union (EU) announced a major trade deal framework on Sunday.

The Japanese Yen (JPY) is entering Tuesday’s NA session unchanged against the US Dollar (USD) as it consolidates its recent decline to the lower end of its multi-month range, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.

The Pound Sterling (GBP) is entering Tuesday’s NA session unchanged against the US Dollar (USD) as it also seeks to attempt stabilization following a recent pullback, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.

The Euro (EUR) is attempting stabilization in the mid/-upper 1.15s as it seeks to consolidate Monday’s sizeable 1.3% decline against the US Dollar (USD), Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.

US Dollar (USD) is expected to continue to rise against Chinese Yuan (CNH); the major resistance at 7.1910 could be out of reach for now.

EUR/USD pair remains on the defensive, although the pair has managed to bounce up from fresh one-month lows during the European morning session and return to previous ranges.

The Canadian Dollar (CAD) is little changed on the session but retains a soft undertone after spending most of the week so far on the back foot against the US Dollar (USD), Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.

US Dollar (USD) could advance further against Japanese Yen (JPY); the major resistance at 149.20 is unlikely to come under threat. In the longer run, price action indicates that USD could rise toward 149.20, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

The US Dollar (USD) has seen a solid advance so far this week as trade deals, or at least their outlines, are reached and US/China trade talks resume.

The Pound Sterling (GBP) trades cautiously against its peers on Tuesday.

The USD/CAD pair extends its winning streak for the fourth trading day on Tuesday, rising to near 1.3755.

The price of Gold has slipped further in light of the preliminary resolution of the trade dispute between the EU and the US, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen reports.

New Zealand Dollar (NZD) could decline further against US Dollar (USD), but it might not be able to reach 0.5940. In the longer run, upward momentum has faded; tentative increase in downward momentum may lead to NZD declining to 0.5940, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

More leeway for LNG deliveries from the US to the EU could be created not only by turning away from Russian gas, but also from other sides, Commerzbank's commodity analyst Barbara Lambrecht notes.

The US Dollar is struggling to extend gains after a three-day rally against the Japanese Yen. The pair has been capped at 140.75 on Tuesday, a few pips short of the multi-month highs, at 149.15, as investors turn their view to the BoJ and the Fed monetary policy decisions, due on Wednesday.

There is room for Australian Dollar (AUD) to test 0.6500 against US Dollar (USD); a sustained decline below this level is unlikely.

The Joint Ministerial Monitoring Committee (JMMC) of OPEC+ held its regular bimonthly meeting virtually yesterday, Commerzbank's commodity analyst Carsten Fritsch notes.

Conditions are deeply oversold, but there is no clear sign that Pound Sterling (GBP) weakness has stabilised against US Dollar (USD); any further decline is unlikely to reach 1.3300.

The US government is apparently considering allowing US Oil companies to resume limited operations in Venezuela. This was reported by five sources familiar with the matter, Commerzbank's commodity analyst Carsten Fritsch notes.

Gold price (XAU/USD) struggles to gain ground after a four-day sell-off near the round level of $3,300 during the European trading session on Tuesday.

Outsized drop appears excessive, but there is a chance for EUR to test the 1.1540/1.1555 support zone before stabilisation can be expected.

The AUD/USD has found some support at the 0.6500 area, but it remains limited below 0.6530, practically flat on the day.