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Commerzbank's FX & Commodity Analyst Volkmar Baur reports that Chinese Aluminium production has risen nearly 3% year-on-year and is running above the government’s annualized cap, supported by higher Aluminium prices and redirected Alumina flows as the Strait of Hormuz remains blocked.

Deutsche Bank’s Global Head of FX Research George Saravelos notes that the Iran war has made markets highly correlated to energy, with higher Oil prices and weaker global growth now supporting the Dollar. Asia FX is seen as central to broad Dollar direction and is being hit hardest.

Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is flat against the Dollar (USD) but supported by elevated Oil prices and narrow yield spreads.

Societe Generale economists assess how the reformed German debt brake and approved 2025–2026 budgets will lift German fiscal spending and affect the Euro area.

Rabobank’s Senior FX Strategist Jane Foley discusses Japanese Yen (JPY) dynamics around upcoming G10 central bank meetings and potential Bank of Japan policy shifts. Foley notes Governor Ueda’s hawkish tone, ongoing BoJ tightening expectations despite higher energy costs.

The Swiss Franc (CHF) weakens against the Euro (EUR) on Tuesday, with EUR/CHF edging higher after reversing intraday losses, despite soft Eurozone Economic Sentiment data.

EUR/JPY trades around 183.25 on Tuesday at the time of writing, up 0.14% on the day, extending its gains for a second consecutive session.

TD Securities’ Senior Commodity Strategist Daniel Ghali warns Gold is increasingly exposed as US 2-year yields break their downtrend and the macro backdrop shifts.

BNP Paribas argues emerging economies face a renewed stagflationary energy shock, but are not generally more vulnerable than in 2022. The bank highlights limited exchange rate depreciation, existing price-mitigation schemes, and stronger reserves.

Rabobank Strategist Molly Schwartz and Christian Lawrence note that Canadian GDP contracted 0.6% quarter‑over‑quarter in Q4 2025 but still rose 0.7% year‑over‑year, with weakness driven by inventory drawdowns.