The British pound strengthened against other major currencies in the European session on Tuesday, following the release of the upbeat U.K. labor market data for the three months ending February.

German economic sentiment logged its sharpest fall since Russia invaded Ukraine in early 2022, as the changes in the US trade policy added global uncertainty, a closely watched survey published by think tank ZEW showed Tuesday. The ZEW Indicator of Economic Sentiment declined sharply to -14.0 in April from +51.6 in March. The indicator turned negative for the first time since October 2023 and als

Eurozone industrial output grew at a faster pace in February driven by the rebound in production of capital and non-durable consumer goods, data from Eurostat showed on Tuesday. Industrial output climbed 1.1 percent month-on-month in February, which was faster than the 0.6 percent growth logged in January and also better than economists' forecast of 0.1 percent.

The UK labor market remained strong in the three months to February, ahead of rise in payroll taxes and new trade tariffs, data from the Office for National Statistics revealed Tuesday. Annual growth in employees' earnings excluding bonuses was 5.9 percent in the December to February period.

The antipodean currencies such as the Australia and the New Zealand dollars strengthened against their major counterparts in the Asian session on Tuesday amid a positive risk tone by the investors, after reports the U.S. is considering pausing the 25 percent tariffs on auto imports and decided to exempt certain consumer electronics from its so-called reciprocal tariffs.

Labor market statistics from the UK and economic confidence survey from Germany are the top economic news due on Tuesday. At 2.00 am ET, the Office for National Statistics releases UK unemployment data for February. The jobless rate is seen unchanged at 4.4 percent in the three months to February period.

Policymakers of the Reserve Bank of Australia said it is important to remain alert to the evolving balance of risks and concluded that the May meeting would be an opportune time to revisit the monetary policy setting, the minutes of the April meeting showed on Tuesday. Members judged that it was not appropriate at this stage for monetary policy to react to the potential risks that could move out

The U.S. dollar tumbled against major currencies during the week ended April 11 amidst renewed uncertainty in respect of U.S. trade policy and softer-than expected CPI readings.

The British pound strengthened against other major currencies in the European session on Monday, as European shares traded higher following the U.S. decision to grant tariff exclusions on smartphones, computers, and other electronics-many of which are imported from China.

China's exports increased sharply in March as US importers front loaded their orders ahead of "Liberation Day" but imports declined due to weaker domestic demand, official data revealed on Monday. Exports logged an annual growth of 12.4 percent in March, the customs office reported. This was much bigger than the expected growth of 4.4 percent. Moreover, the rate far exceeded the 2.3 percent rise.

The U.S. dollar weakened against other major currencies in the early European session on Monday, as tariff worries eased somewhat as U.S. President Donald Trump exempted smartphones and computers as well as other devices and components like semiconductors from his new "reciprocal" tariffs, according to new U.S. Customs and Border Protection guidance issued late Friday.

Singapore's central bank eased its monetary policy for the second time as inflation remained low, while downside risks to growth outlook increased due to the lack of clarity over policies of the US administration and trade frictions. The Monetary Authority of Singapore said it will continue with the policy of a modest and gradual appreciation of the S$NEER policy band.

Preliminary data released by the University of Michigan on Friday showed a continued slump by U.S. consumer sentiment in the month of April. The University of Michigan said its consumer sentiment index tumbled to 50.8 in April after plunging to 57.0 in March. Economists had expected the consumer sentiment index to fall to 54.5.

On the heels of yesterday's report showing a surprise dip by U.S. consumer prices, the Labor Department released a separate report on Friday showing U.S. producer prices also unexpectedly decreased in the month of March. The Labor Department said its producer price index for final demand fell by 0.4 percent in March after inching up by a revised 0.1 percent in February.

The euro strengthened against other major currencies in the European session on Friday, as the investor sentiment improved after the EU said it would suspend its planned countermeasures to Trump's tariffs for 90 days.

The U.S. dollar weakened against other major currencies in the European session on Friday amid ongoing worries about the U.S. and worldwide economies.

The UK economy expanded at a solid pace in February with increases in all main sectors but recent trade tariffs announced by the US administration cast shadow over recovery prospects. Real gross domestic product grew 0.5 percent from the previous month following a nil growth in January, data from the Office for National Statistics revealed Friday. GDP was expected to climb 0.1 percent.

Monthly GDP estimates, industrial production and foreign trade from the UK and final inflation from Germany are the top economic news due on Friday. At 2.00 am ET, the Office for National Statistics releases UK monthly GDP, industrial output and foreign trade figures. The economy is forecast to grow 0.1 percent month-on-month in February, offsetting a 0.1 percent fall in January.