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AUD/USD stays depressed below 0.6200, awaits US CPI for fresh impetus
AUD/USD struggles to capitalize on its recent recovery gains while trading in the red below 0.6200 as traders opt to wait for the US CPI data before placing fresh directional bets. In the meantime, markets remain cautious and help limit the US Dollar pullback from over a two-year peak.
USD/JPY holds steady near 158.00, as focus shifts to US CPI
USD/JPY oscillates in a range near 158.00 in the Asian session on Wednesday amid subdued US Dollar price action and ahead of the crucial US CPI report. The downside remains cushioned amid wavering BoJ rate hike expectations. Further, prospects for fewer Fed rate cuts favor the US Dollar, supporting the pair.
Gold buyers turn cautious ahead of US CPI inflation test
Gold price returns to the red early Wednesday as buyers switch to the sidelines, awaiting the US Consumer Price Index data release for further insights on the Federal Reserve’s interest rate path.
Bitcoin could lose its diversification status as correlation with stocks increases
Bitcoin's rising correlation with the traditional stock market is gradually affecting its role as a portfolio diversifier. This trend has been visible following Bitcoin's similar reactions to the S&P 500 upon macroeconomic data releases.
Small business optimism shoots up in December
Small business sentiment continued to improve in December alongside greater economic and public policy certainty. The NFIB Small Business Optimism Index rose 3.4 points to 105.1, reaching its highest level since October 2018.
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