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FXStreet Team
FXStreet
Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.
AUD/USD struggles to capitalize on the previous day’s recovery move as prolonged Middle East uncertainty supports the safe-haven US Dollar. Moreover, Fed hike bets provide a tailwind for the buck, while expectations of a cautious, on-hold RBA stance cap the Aussie. Spot prices, however, hold above 0.6900 as traders look to China’s trade data and the US CPI report for a fresh impetus.
USD/JPY attracts some dip-buyers during the Asian session on Tuesday as a fall in Japan’s Household Spending undermines the Japanese Yen. Moreover, Fed hike bets and Middle East uncertainty support the safe-haven US Dollar and the currency pair. The market focus now shifts to the release of the crucial US CPI report.
Gold drifts lower during Tuesday’s Asian session, reversing part of the previous day’s strong gains to a near three-week high, around the $4,150 hurdle, as mixed signals about US-Iran peace talks support the safe-haven US Dollar. Traders now look to the crucial US CPI report for more cues about the Fed’s policy path, which would drive the buck and influence the non-yielding bullion.
Avalanche defied the crypto market drawdown on Monday, up 4% after announcing it will provide the core ledger technology for clearing in the New York Stock Exchange's upcoming tokenized securities trading platform.
