US Pre Market Open: Target 2 hit on GBP/USD, raised stop on EUR/CHF, stop hit on AUD/NZD

AUD/USD comes under pressure on Monday, retreating to the area below the 0.7100 support ahead of the opening bell in Asia, all amid the continuation of the downside bias in the Greenback, as investors keep digesting the SCOTUS ruling against Trump’s global tariffs.
 

EUR/USD manages to regain composure and retests the 1.1800 region in quite a positive start to the week. The pair’s bounce follows the US Dollar’s offered stance post-SCOTUS ruling ahead of important US data and Fedspeak on Tuesday.

Gold price jumps to around $5,230 during the early Asian session on Tuesday. The rally of the precious metal is bolstered by heightened geopolitical tensions and global trade uncertainty following US tariff decisions. Traders brace for the US January Producer Price Index report on Friday for fresh impetus. 

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.