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AUD/USD on the backfoot, slides below 0.6700
The Australian Dollar registered losses of 0.37% against the US Dollar on Monday, amid rising US Treasury yields that underpinned the Greenback. An upbeat market sentiment could not boost the high-beta Aussie Dollar, which tumbled below the 0.6700 figure. As the Asian session begins, the AUD/USD trades around 0.6668.
EUR/USD eased from 1.0880 on Monday as looming rate differential weighs
EUR/USD eased back from 1.0880 on Monday as talking points from Fed officials weighed on otherwise quiet market flows. Broader markets are keenly anxious for signs of a rate cut from the Fed, but central planners continue to force down expectations with a tricky inflation outlook hobbling the Fed’s options on rate moves.
UPCOMING CALENDAR EVENTS
Editors’ Picks
Gold price extends its upside as investors bet on rate cuts
Gold price extends the rally on Tuesday after retracing from a record high earlier. The renewed gold demand is bolstered by higher bets on interest rate cuts from the US Federal Reserve, ongoing geopolitical tensions, along with the strong demand stemming from central banks and Asian buyers.
Digital asset weekly inflows jump over 600% following response to CPI report
Coinshares weekly report of digital asset flows shows that crypto assets witnessed more than a 600% increase in net inflows last week after US Consumer Price Index saw a softer-than-expected inflation increase.
Will the commodity boom last?
The gold and copper price both hit fresh record highs on Monday. The market is sensitive to these two metals because gold is considered an inflation hedge and a safe haven, and because copper is a metal that is linked to global growth.