The United Arab Emirates (UAE) announces its decision to leave the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+), marking a major turning point for the balance of the global energy market.

United States Housing Price Index (MoM) came in at 0% below forecasts (0.2%) in February

United States S&P/Case-Shiller Home Price Indices (YoY) down to 0.9% in February from previous 1.2%

United States Redbook Index (YoY) climbed from previous 6.7% to 7.7% in April 24

Danske Bank’s Danske Research Team notes that the Bank of Japan (BoJ) kept its policy rate at 0.75% with a closer 6-3 vote, reinforcing expectations for a potential June or summer hike.

Antje Praefcke at Commerzbank discusses the likely confirmation of Kevin Warsh as new Fed Chair in May, potentially succeeding Jerome Powell by mid‑month.

United States ADP Employment Change 4-week average dipped from previous 54.8K to 39.3K in April 4

Gold (XAU/USD) slips to a near one-month low, pressured by a firmer US Dollar (USD) and mounting Oil-driven inflation concerns, as investors await clearer signals on stalled diplomatic efforts between the United States (US) and Iran to end the war.

ING strategist Francesco Pesole notes that despite higher Oil prices and geopolitical uncertainty, the Dollar has only found limited support as resilient US equities and month‑end flows weigh on USD performance.

Brazil Mid-month Inflation rose from previous 0.44% to 0.89% in April

Crude prices appreciated for the second consecutive day on Tuesday, with the US benchmark West Texas Intermediate (WTI) barrel changing hands at $98.00 at the time of writing, its highest price since April 13.

The USD/JPY pair is up 0.17% to near 159.70 during the European trading session on Tuesday. The pair trades higher as the US Dollar (USD) outperforms its peers ahead of the two-day Federal Reserve (Fed) policy meeting, which will start later in the day.

TD Securities analysts note that the Bank of Japan's (BoJ) decision to keep its policy rate unchanged at 0.75% and Governor Ueda’s lack of clear guidance for June have disappointed markets.

USD/CAD trades around 1.3665 on Tuesday, up 0.27% on the day, rebounding after briefly dipping below the 1.3600 mark on Monday. The upside move remains limited in a context shaped by diverging fundamental forces.

Deutsche Bank strategists note that Brent Oil has climbed to its highest level in three weeks as the Strait of Hormuz remains effectively closed and peace talks between the United States (US) and Iran stall.

Silver price (XAG/USD) is down almost 3% below $73.00 during the European trading session on Tuesday. The white metal faces intense selling pressure as investors turn cautious ahead of the Federal Reserve’s (Fed) monetary policy announcement on Wednesday.

Societe Generale analysts expect no change by the MNB today at 6.25% and describe EUR/HUF extending its decline after failing above the 200‑day moving average in March, with an interim low near 360.

Standard Chartered strategists Christopher Graham and John Davies expect the Bank of England (BoE) to keep the base rate at 3.75% at the 30 April meeting, with a prolonged pause through this year.

The Euro (EUR) has reversed the previous two trading days' recovery against the US Dollar (USD) on Tuesday and languishes right below 1.1700 ahead of the US session opening.

United States (US) State Secretary of Energy Chris Wright said during the European trading session on Tuesday that President Donald Trump is focused on getting the right deal with Iran.

India Industrial Output below expectations (4.2%) in March: Actual (4.1%)

India Manufacturing Output fell from previous 6% to 4.3% in March

India Cumulative Industrial Output remains unchanged at 4.1% in March

The Indian Rupee (INR) weakens further against the US Dollar (USD) on Tuesday after a brief pause in the last two trading days. The USD/INR pair jumps to near 94.50 as elevated oil prices continue to hurt the Indian Rupee.

The AUD/USD pair trades 0.16% lower at around 0.7175 during the European trading session on Tuesday.

Commerzbank’s Michael Pfister expects an uneventful Hungarian National Bank (MNB) meeting, with all surveyed economists and market pricing pointing to unchanged rates over the next six months.

Societe Generale analysts note USD/JPY failed to sustain a breakout above its multi‑year range and is consolidating above the 50‑day moving average. They highlight a crucial support zone around 158.30/157.50 and resistance near 160.50.

Silver prices (XAG/USD) fell on Tuesday, according to FXStreet data. Silver trades at $73.42 per troy ounce, down 2.78% from the $75.52 it cost on Monday.

ING’s Warren Patterson raises ICE Brent forecasts as prolonged disruption through the Strait of Hormuz persists and peace talks between the US and Iran stall.

NZD/USD depreciates after two days of gains, trading around 0.5890 during the European hours on Tuesday. The pair loses ground as the US Dollar (USD) advances due to increased safe-haven demand amid stalled United States (US)-Iran peace talks.