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Gold (XAU/USD) sticks to modest intraday gains comfortably above the $5,000 psychological mark through the first half of the European session, though it lacks bullish conviction amid mixed cues.

Israel Defense Forces (IDF) warn retaliation against Iran for attacking the United States (US) embassy in Iraq, in which four people were killed, The Guardian reported.

Deutsche Bank analysts note that Brent Oil has stabilised after recent conflict-driven spikes, with prices briefly falling back towards $100 as hopes grew for resumed flows through the Strait of Hormuz.

Here is what you need to know on Tuesday, March 17:

Commerzbank’s Antje Praefcke expects the Riksbank to keep its policy rate at 1.75% this week and signal no near-term changes, with a first hike only possible late in the year.

The Indian Rupee (INR) trades lower against the US Dollar (USD) in the opening trade on Tuesday. The USD/INR pair rebounds to near 92.90 after a correction on Monday as the Indian Rupee resumes its downside journey amid the continuous outflow of foreign funds from the Indian stock market.

The USD/CAD pair trades in a tight range around 1.3700 during the European trading session on Tuesday. The Loonie pair consolidates as investors await monetary policy announcements by the Bank of Canada (BoC) and the Federal Reserve (Fed) on Wednesday.

USD/CHF remains flat after paring daily gains, trading around 0.7880 during the European hours on Tuesday.

West Texas Intermediate (WTI) Oil price recovers its recent losses registered in the previous session, trading around $96.10 per barrel during the European hours on Tuesday.

ING’s Francesco Pesole argues that even under a severe and prolonged Gulf conflict, European gas prices are unlikely to revisit 2022 extremes, supporting a constructive medium-term view on EUR/USD.