Examining EUR/USD ahead of the critical ECB meeting

AUD/USD gains some positive traction, trading close to 0.7050 early Tuesday, following the previous day's late pullback from over a one-week top. Trump's tariff turmoil keeps the US Dollar in check due to Fed rate cut hopes, while supporting the Aussie amid the RBA's hawkish stance. 

Gold price is back under the $5,200 level in the Asian session on Tuesday, pulling back from the highest level in four weeks reached at $5,250 earlier on. The Gold price upsurge was fuelled by heightened geopolitical tensions and global trade uncertainty following US tariff decisions. However, an improvement in risk sentiment and a fresh US Dollar upswing trigger a corrective decline in the yellow metal. 

USD/JPY is off the high but remains firm near 155.00 in the Asian session on Tuesday. The upside seems capped by intervention fears, which lends support to the Japanese Yen. Apart from this, bets that the BoJ will stick to its rate-hike path limit JPY losses. Additionally, the pair faces headwinds alongside the US Dollar due to uncertainty around Trump's tariffs.

The Solana based decentralized finance platform Step Finance announced it will end all operations effective immediately following a breach that drained its treasury.

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

The US Dollar (USD) recovered most of its intraday losses and trades broadly stable on Monday, after markets digested the Supreme Court’s decision agains United States (US) President Donald Trump's tariffs and his move to impose additional levies over the weekend.