United States ADP Employment Change 4-week average fell from previous -2.5K to -13.5K in November 8

EUR/USD posts mild gains on Tuesday's European session, but remains trapped below 1.1550, changing hands at 1.1530 at the time of writing.

Gold (XAU/USD) is trading practically flat on Tuesday, holding most of the gains taken on Monday.

Gold (XAU/USD) holds firm on Tuesday as traders price a greater likelihood of a Federal Reserve (Fed) interest rate cut in December following dovish-leaning remarks from policymakers.

Mexico Retail Sales (MoM) declined to 0% in September from previous 0.6%

Mexico Retail Sales (YoY) up to 3.3% in September from previous 2.4%

USD/JPY trades around 156.50 at the time of writing on Tuesday, down 0.20% on the day, as the Japanese Yen (JPY) fails to attract meaningful buying interest.

September Copper data showed a 57,000-ton deficit, but seasonally adjusted figures point to a slight surplus, suggesting the market remains well supplied despite recent price rallies, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.

The price of Gold rose to $4,155 per troy ounce this morning. Since Friday afternoon, the price has risen by more than $100. The price increase was triggered by rising expectations of an interest rate cut at the Fed's next meeting in two weeks, Commerzbank's commodity analyst Carsten Fritsch notes.

Even with potential US sanctions easing, Russian Oil output is unlikely to surge, as OPEC+ production limits and near-capacity operations constrain any significant increase, Commerzbank's commodity analyst Carsten Fritsch notes.

New diplomatic efforts to end the war in Ukraine have been putting pressure on Oil prices since the end of last week, Commerzbank's commodity analyst Carsten Fritsch notes.

The New Zealand Dollar is hesitating around the 0.5600 level for the second consecutive day on Tuesday.

In a recent audio comment, UBS's Paul Donovan discusses the implications of Federal Reserve Governor Christopher J. Waller's advocacy for a December rate cut, emphasizing the potential risks to the US economy.

With the US Government open again after a 43-day shutdown, federal agencies are scrambling through a backlog of data to deliver a stream of delayed macroeconomic releases. The focus today is on September’s US Retail Sales report.

Germany 5-y Note Auction up to 2.27% from previous 2.21%

US Dollar (USD) is likely to trade between 156.35 and 157.30. In the longer run, the likelihood of USD rising to 158.00 is diminishing, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Silver (XAG/USD) trades lower on Tuesday, around $51.20 at the time of writing. Despite this decline, any meaningful correction remains limited, as investors continue to show interest in the white metal amid elevated geopolitical uncertainty and a growing likelihood of further US monetary easing.

Momentum indicators are mostly flat; New Zealand Dollar (NZD) is likely to consolidate within a range of 0.5595/0.5630. In the longer run, NZD is expected to move lower; if it breaks below 0.5565, it could decline further to 0.5540, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Further range-trading appears likely; firmer underlying tone suggests a higher range of 0.6445/0.6485. In the longer run, the price action suggests there is scope for AUD to test 0.6405, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Downward momentum has faded; Pound Sterling (GBP) is likely to trade in a range between 1.3040 and 1.3165, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Euro (EUR) is likely to consolidate between 1.1495 and 1.1545. In the longer run, the likelihood of EUR breaking below 1.1470 has increased; EUR must close below 1.1470 before further declines are likely, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

New Zealand Dollar (NZD) is trading heavy ahead of the RBNZ policy rate decision. The RBNZ is expected to trim the Official Cash Rate (OCR) by 25bps to 2.25%. At its last October 8 meeting, the RBNZ slashed the OCR by 50bps to 2.50% and stressed it 'remains open to further reductions in the OCR'.

The Japanese Yen (JPY) faces continued pressure as geopolitical tensions over Taiwan and speculative trading test authorities’ tolerance, with potential Bank of Japan intervention looming during the thin Thanksgiving week, ING's FX analyst Francesco Pesole notes.

US Dollar (USD) is trading on the defensive and holding above its 200-day moving average.

Geopolitical news should remain central today. The US has softened its stance on Thursday’s deadline for Ukraine to accept the peace deal with Russia, and a new 19-point deal is set to be discussed in the coming days.

The RBNZ is set to cut rates by 25bps to 2.25%, likely signaling the end of easing and providing support for NZD/USD toward 0.570 by year-end, ING's FX analyst Francesco Pesole notes.

Nasdaq 100 rebounds from interim lows but faces resistance near 25,650 points, with technical signals suggesting a brief bounce before potential continuation of the pullback, Société Générale's FX analysts note.

EUR/GBP implied volatility spikes as markets adopt a cautious stance ahead of tomorrow’s UK Budget, with the pair expected to trade around 0.880 unless new developments emerge, ING's FX analyst Francesco Pesole notes.

The recent rise in USD/JPY continues to slow. Japan’s growth minister Minoru Kiuchi said the government is watching currency movements, including speculative activity, with a high sense of urgency. Pair was last seen at 156.30 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

USD/CNH faces downward pressure after failing to clear 7.12, with technical patterns pointing to a possible drop toward 7.05–7.01 if key support at 7.08 gives way, Société Générale's FX analysts note.