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AUD/USD jumps towards 0.6700 as RBA surprises with another 25 bps hike
AUD/USD is advancing toward 0.6700, picking up fresh bids on the hawkish surprise delivered by the RBA at its June policy meeting. The RBA hiked rates by another 25 bps to 4.10%, citing that some additional tightening may be needed. Focus shifts to RBA Lowe's speech.
EUR/USD defends 1.0700 amid weaker US Dollar, EU data eyed
EUR/USD is trading modestly flat above 1.0700, finding support from a broad US Dollar weakness and the hawkish ECB expectations ahead of the mid-tier EU data this Tuesday. The market mood remains cautious, limiting the upside in the major.
Gold gyrates within $1,955-73 trading zone
Gold price aptly portrays the sluggish markets heading into Tuesday’s European session, after an indecisive week. The XAU/USD highlights a lack of major data/events on the economic calendar, as well as mixed concerns about the Federal Reserve’s (Fed) moves and the diplomatic ties between the US and China.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto liquidations hit $311 million, what’s next?
Bitcoin price liquidations cross $100 million after the SEC’s recent lawsuit against Binance. Ethereum price could retest the $2,000 psychological level if sidelined buyers join the fray. Ripple price to get boring for a few days before XRP reveals its directional bias.
Plotting the slope for the Fed's final glide path
Given that investors have very strong recession priors and it's well understood the services sectors are driving the bulk of the post-Covid cross-asset recovery, the negative services print was viewed a tad pessimistic on a multi-cross-asset level as the summer lull beckons.