The Canadian Consumer Price Index is seen advancing by 1.8% YoY in December.

The Pound Sterling (GBP) surrenders its marginal gains against its major peers on Tuesday in the aftermath of the United Kingdom (UK) labor market data for three months ending November.

EUR/USD corrects lower to near 1.0350 in Tuesday’s North Americn session after surging to 1.0430 on Monday.

The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, got hammered Monday when it turned out tariffs were not part of the executive orders signed by Donald Trump in his first hours as US President

Gold’s price (XAU/USD) is rallying higher for a second day this week in what turns out to be a volatile week thus far, with US President Donald Trump confirming he intends to impose 25% tariffs on Canada and Mexico as

Mexico Retail Sales (YoY) came in at -1.9%, below expectations (-1.2%) in November

Mexico Retail Sales (MoM) came in at -0.1%, below expectations (0.3%) in November

The EUR/CAD pair surrenders a majority of its intraday gains after failing to extend its four-day run-up above the key resistance of 1.5050 in Tuesday’s European session.

Germany 10-y Bond Auction down to 2.16% from previous 2.51%

Silver price (XAG/USD) drops slightly to near $30.50 in Tuesday’s European session.

Further US Dollar (USD) weakness is not ruled out; the major support at 7.2420 is likely out of reach for now. In the longer run, decline in USD seems excessive, but there is potential for a test of 7.2420, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.

US Dollar (USD) could break 154.90; the next major support at 154.40 is likely out of reach for now. In the longer run, USD remains weak; if it breaks below 154.90, the next objective will be at 154.40, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.

Eurozone ZEW Survey – Economic Sentiment came in at 18, above forecasts (16.9) in January

The headline German ZEW Economic Sentiment Index declined to 10.3 in January from 15.7 in December, missing the market consensus of 15.3.

Germany ZEW Survey – Current Situation registered at -90.4 above expectations (-93.1) in January

Germany ZEW Survey – Economic Sentiment came in at 10.3, below expectations (15.3) in January

Robust momentum indicates New Zealand Dollar (NZD) could break above 0.5700, but it might not be able to maintain a foothold above this level.

EUR/GBP was unfazed this morning by the release of UK labour figures. Wage growth excluding bonuses was slightly higher than expected.

European Central Bank (ECB) policymaker Francois Villeroy de Galhau said on Tuesday that “there is a plausible consensus that we will act at each meeting.” Additional quotes We are not on a pre-set course on rates.

Australian Dollar (AUD) could break above 0.6305; the next major resistance at 0.6350 is likely out of reach for now.

Silver prices (XAG/USD) fell on Tuesday, according to FXStreet data.

GBP/JPY experiences a decline after two consecutive days of gains, trading around 190.90 during the European session on Tuesday.

The first day of Donald Trump's presidency was a volatile one for FX markets. The US Dollar (USD) tumbled before the inauguration as markets got tipped off by media reports that Trump would not impose tariffs on day one.

Gold price (XAU/USD) attracts some follow-through buying for the second successive day and climbs to its highest level since November 6, around the $2,726 region during the Asian session on Tuesday.

Pound Sterling (GBP) is expected to continue to advance; the significant resistance at 1.2410 is probably out of reach today. In the longer run, GBP view is positive, anticipating a move to 1.2410, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.

EUR/USD remains cheap and oversold despite yesterday’s rebound. We estimate that the pair is still trading around 1.5% below its short-term fair value, signalling some tariff related risk remains in the price, ING’s FX analyst Francesco Pesole notes.

West Texas Intermediate (WTI) Oil price ended a three-day losing streak, holding steady near $76.20 during European trading hours on Tuesday.

Potential for Euro (EUR) to rise above 1.0440; the significant resistance at 1.0480 is unlikely to come under threat for now. Current price action is part of a recovery phase that could extend to 1.0480, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.

US President Trump pledged to put America’s interests first to return the country to ‘a golden age’, reversing the US decline while taking on ‘a radical and corrupt establishment’ and ‘stop the weaponization of law enforcement’, UOB Group’s Senior Economist Alvin Liew notes.

NZD/USD retraces its recent gains from the previous session, trading near 0.5650 during early European hours on Tuesday.