NZD/USD trades around 0.5900 on Tuesday at the time of writing, up 0.20% on the day, extending its rebound from the lows near 0.5850 recorded on Monday.

The Australian Dollar retreats during the North American session, down more than 0.30%. High tensions in the Middle East, spurred by Iran’s decision not to attend talks with the US in Pakistan. At the time of writing, the AUD/USD trades at 0.7153 after hitting a daily high of 0.7185.

As the deadline for the expiry of the Iran / USA ceasefire approaches within the next day.

USD/CAD stabilizes near 1.3650 after six declines, posting a modest 0.1% gain and showing a short-term indecision bias.

Initially, markets priced in a positive scenario for EUR/USD. But a deterioration in rhetoric, combined with oil prices above pre-conflict levels, pushed the market into volatility.

USD/CAD holds firm on Tuesday as the US Dollar (USD) steadies after recent weakness, although the pair lacks strong upside momentum as elevated Oil prices provide underlying support to the commodity-linked Canadian Dollar (CAD).

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USD is rebounding off support after a three-week decline. A recovery is building with initial resistance already in view.

Scotiabank strategists Shaun Osborne and Eric Theoret observes the Canadian Dollar (CAD) is modestly softer as USD stabilizes, but stresses the broader USD/CAD bear trend remains intact.

EUR/USD trades under pressure on Tuesday as the US Dollar (USD) steadies after recent weakness, with upbeat US economic data and weaker Eurozone sentiment adding further downside pressure on the Euro (EUR).