Market Drivers; US Session

Dollar Strengthens as Trump Proposes Tariffs

The US Dollar rallied on Tuesday, recovering from a bearish start to the week. A modest uptick in US Treasury yields and the announcement of potential tariffs on imports from key trading partners contributed to the Dollar’s strength.

Key Economic Events

US: The US Personal Consumption Expenditure (PCE) price index will be closely watched, along with other economic indicators like mortgage applications, manufacturing data, consumer spending, and jobless claims.

Europe: German consumer confidence and a speech by European Central Bank (ECB) Executive Board Member Philip Lane will be in focus.

UK: The Pound Sterling remained under pressure, influenced by global market sentiment and the Dollar’s strength.

Japan: The Japanese Yen strengthened, weighing on the USD/JPY pair.

Australia: The Australian Dollar declined due to weaker commodity prices and concerns about global economic growth.

Commodities: Crude oil prices fell as geopolitical tensions eased. Gold and silver prices recovered slightly from recent losses.

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