GBPUSD Pound Sterling vs United States Dollar

The Australian dollar climbed against its major rivals in early European deals on Tuesday amid risk appetite, as European shares rose following record close on Wall Street overnight, led by a rebound in technology shares.

Investors are awaiting the decision from index provider MSCI on whether to include China A-shares in its emerging markets index after rejecting it on three previous occasions.

Oil prices rose amid mild weakness in the dollar, although concerns over supply glut kept investors nervous.

Minutes from the Reserve Bank of Australia's June 6 meeting showed that members of the board observed that the country's rate of economic growth is expected to continue gradually over the next few years.

The bank added that the economic outlook, in its current condition, continues to be supported by low interest rates.

Data from the Australian Bureau of Statistics showed that Australia's house prices rose 2.2 percent on quarter in the first three months of 2017.

That was in line with expectations and down from 4.1 percent in the previous three months.

The aussie showed mixed performance in the Asian session. While the aussie held steady against the yen and the euro, it rose against the kiwi. Against the greenback, it fell.

The aussie climbed to 0.7623 against the greenback, following a decline to a session's low of 0.7585. The next possible resistance for the aussie-greenback pair is seen around the 0.78 region.

The aussie advanced to 85.07 against the Japanese yen, its highest since April 3. Continuation of the aussie's uptrend may see it challenging resistance around the 86.00 area.

The aussie edged up to 1.0075 against the loonie, off its early low of 1.0027. If the aussie-loonie pair extends rise, 1.02 is likely seen as its next resistance level.

The aussie firmed to 1.4626 against the euro, a level not seen since May 3. The aussie is poised to target 1.44 as the next resistance level.

Figures from the European Central Bank showed that the Eurozone current account surplus declined to the lowest level in more than two years in April.

The current account surplus fell to EUR 22.2 billion in April from EUR 35.7 billion in March. This was the lowest since November 2014, when the surplus totaled EUR 21.65 billion.

The aussie rose back to 1.0502 against the NZ dollar, from a low of 1.0476 hit at 2:15 am ET. The aussie had earlier set a 4-day high of 1.0520 in the Asian session. Next likely resistance level for the aussie is seen around the 1.06 area.

Survey figures from ANZ bank showed that New Zealand's consumer confidence improved for the second straight month in June.

The ANZ Roy Morgan Consumer Confidence Index rose to 127.8 in June from 123.9 in May. Moreover, the latest reading was the highest in five months.

Looking ahead, at 4:45 am ET, the Swiss National Bank Chairman Thomas Jordan delivers opening remarks at the Swiss International Finance Forum, in Bern.

In the New York session, U.S. current account for the first quarter and Canada wholesale sales for April are due.

Dallas Fed President Robert Kaplan speaks about the economy and monetary policy at the Commonwealth Club in San Francisco at 3:00 pm ET.

Sterling vs US Dollar (FX:GBPUSD)
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Sterling vs US Dollar (FX:GBPUSD)
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