FxWirePro: AUD/USD gains modestly as Geopolitical risks keep markets cautious 
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Market Roundup
• Australia Westpac Consumer Sentiment (Sep) -5.2%, 6.0% previous
• Australia NAB Business Confidence (Aug) -8, -7 previous
• Australia Building Approvals (MoM) (Jul) -3.6%, -3.6% forecast, 7.2% previous
• Australia NAB Business Survey (Aug) -1, 4 previous
• Australia Building Approvals (YoY) (Jul) 9.00%, 9.00% forecast, 8.90% previous
• Australia Private House Approvals (Jul) -4.2%, -4.2% forecast, 0.8% previous
• China Exports (YoY) (Aug) 25.0%, 25.0% forecast, 23.9% previous
• China Trade Balance (Aug) 809.30B, 805.00B forecast, 767.07B previous
• China Imports (YoY) (Aug) 28.2%, 30.0% forecast, 27.5% previous
• China Exports (Aug) 18.60M, 17.80M previous
• China Imports (Aug) 21.70M, 21.30M previous
• China Trade Balance (USD) (Aug) 119.09B, 118.60B forecast, 112.50B previous
•Germany Trade Balance (Jul) 21.3B, 16.0B forecast, 15.4B previous
•Germany Imports (MoM) (Jul) -5.7%, 4.4% previous
•Germany Exports (MoM) (Jul) -0.8%, 0.0% forecast, 0.9% previous
Looking Ahead Economic Data (GMT)
•06:45 France Trade Balance (Jul) -6.0B forecast, -5.8B previous
•06:45 France Current Account (Jul) -1.40B previous
•06:45 France Imports (Jul) 60.4B previous
Looking Ahead Events And Other Releases (GMT)
•No Events Ahead
Currency Forecast
EUR/USD : The euro edged lower against the U.S. dollar on Tuesday as investors assessed German political uncertainty and awaited this week's ECB meeting.The major event for euro zone this week is Thursday's European Central Bank meeting. The ECB is widely expected to raise rates, with the key question for investors being whether they will give any indications about their future plans.Meanwhile, at the weekend the far-right AfD won a historic victory in a German state election, further adding to political uncertainty in the euro zone's largest economy. Immediate resistance can be seen at 1.1641(38.2%fib), an upside break can trigger rise towards 1.1677(Aug 28th high).On the downside, immediate support is seen at 1.1612(Daily low), a break below could take the pair towards 1.1585(38.2%fib).
GBP/USD: The British pound edged lower on Tuesday as renewed geopolitical tensions damped risk sentiment. Iran threatened the U.S. with "economic warfare" and said it fired an advanced missile at U.S. warships while Iran-backed Houthis struck several Saudi cities, wounding 73 people and causing some energy facilities to halt operations, highlighting risks of a wider escalation.On Saturday, U.S. forces had struck three Iranian oil tankers, including one near Kharg Island, Iran's main oil export hub, according to U.S. Central Command. The attacks followed strikes by Iran's Revolutionary Guards on U.S. warships operating in the region. Immediate resistance can be seen at 1.3685(23.6%fib), an upside break can trigger rise towards 1.3716(Higher BB).On the downside, immediate support is seen at 1.3624(Daily low), a break below could take the pair towards1.3531(38.2%fib).
AUD/USD: The Australian dollar edged lower against dollar on Tuesday as investors assessed weak domestic sentiment data.The Westpac September consumer sentiment index fell 5.2%, reflecting continued pressure from interest rates and elevated fuel costs on household confidence.Attention will turn to RBA officials Sarah Hunter and Andrew Hauser, who are scheduled to speak in Sydney later Tuesday, with their comments likely to provide further clues on the Reserve Bank of Australia’s policy outlook.Swaps imply a 68.8% probability that the Reserve Bank of Australia will raise its key cash rate at its upcoming policy meeting later this month, in what could be its fourth hike so far this year. Immediate resistance can be seen at 0.7178(Higher BB), an upside break can trigger rise towards 0.7201(23.6%fib).On the downside, immediate support is seen at 0.7093 (38.2%fib), a break below could take the pair towards 07054(SMA 20)
USD/JPY: The U.S. dollar fell to a seven-month low against yen on Tuesday amid growing expectations that the Bank of Japan could accelerate the pace of policy tightening..At the same time, the unwinding of carry trades, in which investors borrow yen to invest in higher-yielding assets abroad, is adding further upward pressure on the yen as traders reduce risk and close dollar positions. Japan's economy grew faster than initially estimated in the April-June quarter from the previous three months, supported by business spending, revised data showed, but the figure still lagged analysts' forecasts.Meanwhile, separate data showed Japanese real wages rose 2.4% in July from a year earlier, marking the biggest increase since May 2021. Immediate resistance can be seen at 156.53(38.2%fib), an upside break can trigger rise towards 157.00(Psychological level).On the downside, immediate support is seen at 154.11(Daily low) a break below could take the pair towards 154.00 (Psychological level).
Equities Recap
Asian shares dipped on Tuesday as fresh Iranian threats in the Persian Gulf drove oil prices and bond yields higher.
China A50 was down by 0.62% , South Korea’s KOSPI was up at 0.58%, Nikkei was up at 1.68%
Commodities Recap
Gold prices edged higher on Tuesday as the U.S. dollar weakened, while investors remained focused on upcoming U.S. inflation data that could provide fresh clues about the Federal Reserve’s monetary policy outlook and influence expectations for its next interest-rate decision.
Spot gold was up 0.1% at $4,407.27 per ounce, as of 0645 GMT. U.S. gold futures for December delivery fell 0.6% at $4,452.10.
Oil prices extended their gains to multi-week highs on Tuesday as concerns over a prolonged conflict in the Middle East intensified after Iran warned that it would retaliate against any further U.S. attacks on its assets, raising fears of potential disruptions to crude supplies from the region.
Brent crude futures were up $1.25, or 1.3%, to $98.25 a barrel by 0630 GMT. U.S. West Texas Intermediate crude was at $93.70 a barrel, up $2.22, or 2.4%.
