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AUD/USD attracts follow-through selling during Tuesday’s Asian session, looking to extend the overnight rejection slide from 0.7000, or a two-week top, following the release of RBA meeting Minutes. The US Dollar retains a bullish undertone near its highest level since April 2025 as energy-driven inflation risks keep December Fed rate hike bets firmly on the table. Adding to this, geopolitical risks further underpin the safe-haven USD.
USD/JPY is dropping below 158.50 in the Asian session on Tuesday, snapping a two-day winning streak and pulling back from an over two-week top touched the previous day, despite Japan's soft PPI inflation print. Bulls turn cautious amid speculation that authorities will step in to prop up the Japanese Yen, which, in turn, weighs on the pair.
Gold extends its struggle below $4,200 early Tuesday as geopolitical risks weigh. US Dollar pinned down by retreating Oil prices and US Treasury bond yields. Technically, the daily bearish RSI continues to caution Gold buyers.
Asian stock markets face a significant sell-off in Tuesday’s session, tracking weakness in United States technology stocks seen on the Columbus Day. As of writing, KOSPI is leading losses with over 7% decline, Shanghai is down 1% to near 3,760, Nikkei 225 plunges almost 2.5% at around 67,350.
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