The U.S. Index, which measures the dollar strength against a basket of six currencies was lower on Tuesday’s session. The index ended the session at 98.99 on growing optimism about a global recovery from the COVID-19 pandemic on news of a potential vaccine that helped investors dump safe-haven assets.
Regarding U.S Sino news, the U.S. President Donald Trump’s economic adviser said China’s plan for national security legislation on Hong Kong was “a big mistake” and pledged Washington would pay expenses of U.S. companies that wanted to move out of the territory or China.
In economic news, the Conference Board Consumer Confidence index which measures the level of consumer confidence in economic activity came at 86.6 lower than expectations of 88.0.
Moreover, the New Home Sales for April which measures the annualized number of new single-family homes that were sold during the previous month came at 623,000 besting expectations of 490,000.
Over in Europe, the Common currency traded higher on Tuesday’s session to settle at 1.0981 EURUSD
The euro was higher on positive economic data from Germany as the German Ifo Business Climate Index which measures expectations for the next six months came at 79.5 higher than expectations of 78.3 the Ifo institute said German exporters recovered somewhat in May from a "catastrophic" April. moreover, Germany’s GDP for the first quarter of 2020 came in line with expectations dropping by 2.2 percent.
The Great British Pound was higher versus its counterpart, the U.S. Dollar, to settle at 1.2336 GBPUSD helped by a weak dollar.
Despite its large gains, Brexit talks have yielded insignificance progress so far. the final round of negotiations is set for next week before a conference in June to assess progress before the year-end.
Regarding Safe-Haven assets, the Greenback fell against the Japanese Yen, to end the session at 107.54 USDJPY. moreover, the Greenback was lower versus the Swiss franc to trade at 0.9653 USDCHF.
The Precious Metal Gold was lower versus the U.S dollar, finishing the session at 1710 per ounce pressured by the risk appetite that flared across markets from the reopening of the U.S. economy from coronavirus-imposed lockdowns.
Elsewhere in Canada, the Loonie dollar edged higher versus the Dollar, finishing the session at 1.3771 USDCAD.
In Asia, the Aussie Dollar finished the session higher at 0.6654 AUDUSD. Moreover, The Kiwi Dollar rose on Tuesday’s trading session, to finish at 0.6199 NZDUSD.
Cryptocurrencies ended the session lower, with Bitcoin finishing lower to settle at 8841 BTCUSD while Ethidium Finished at 199.7 ETHUSD.