The US Dollar trades slightly lower against major peers at the start of the European session. Two Fed speakers are scheduled on Tuesday. The US Dollar index trades near the weekly low, though still well above 105.00. The US Dollar trades slightly lower against major pairs during the Tuesday European session despite the risk-off mood, with Nvidia becoming the biggest worry for markets after being the golden boy for many weeks in a row.
Expect not to see any big waves ahead of the US Opening Bell as markets are starting to struggle with how to price the possible outcome from the French snap elections on Sunday. Traders will also be looking for NVidia to see how it behaves and if it can end its recent correction. On the upside, the first level to watch is 105.88, which triggered a rejection at the start of May and on Friday last week. Further up, the biggest challenge remains at 106.52, the year-to-date high from April 16.