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AUD/USD bounces from fresh weekly low, trades below 0.6500
Demand for the US Dollar soared on Tuesday amid escalating tensions between Israel, Iran and now the United States. The AUD/USD pair fell alongside Wall Street, trading below 0.6500 in the early Asian session.
EUR/USD crashes through 1.1500 as Trump turns up heat on Iran
The EUR/USD pair is collapsing by over 0.60% as the US Dollar remains bid due to its safe-haven status amid the escalation of the Middle East conflict between Israel and Iran, which appears to be broadening as the White House considers its involvement.
Gold holds firm below $3,400 as strong Dollar defies global turmoil
Gold prices retreated below the $3,400 level on Tuesday despite deteriorating risk appetite as overall US Dollar strength drove the yellow metal lower. Nevertheless, the escalation of the Israel–Iran conflict would likely underpin the precious metal due to its safe-haven appeal.
GENIUS bill gains Senate approval, advances to House for deliberation
The United States Senate has passed the Guidance and Establishing Innovation for US Stablecoins bill in a 68-30 vote on Tuesday, bringing it closer to President Donald Trump's desk. The bill now heads to the House for deliberation before a final vote.
Chinese data suggests economy on track to hit 2025 growth target
China's May data was mixed with strong retail sales, but soft readings on fixed-asset investment and property price. Overall, though, data suggests that China remains on track to achieve its growth target in the first half of 2025.
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