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AUD/USD on the backfoot, slides below 0.6700
The Australian Dollar registered losses of 0.37% against the US Dollar on Monday, amid rising US Treasury yields that underpinned the Greenback. An upbeat market sentiment could not boost the high-beta Aussie Dollar, which tumbled below the 0.6700 figure. As the Asian session begins, the AUD/USD trades around 0.6668.
EUR/USD eased from 1.0880 on Monday as looming rate differential weighs
EUR/USD eased back from 1.0880 on Monday as talking points from Fed officials weighed on otherwise quiet market flows. Broader markets are keenly anxious for signs of a rate cut from the Fed, but central planners continue to force down expectations with a tricky inflation outlook hobbling the Fed’s options on rate moves.
Gold price retreats after hitting record high at $2,450
Gold price extended its gains on Monday, yet it trades slightly below the all-time high of $2,450 reached during the Asian session amid increasing expectations that major central banks, including the Federal Reserve, might ease policy during 2024.
Digital asset weekly inflows jump over 600% following response to CPI report
Coinshares weekly report of digital asset flows shows that crypto assets witnessed more than a 600% increase in net inflows last week after US Consumer Price Index saw a softer-than-expected inflation increase.
Signed into law: Alabama abolishes income taxes on Gold and Silver
On May 14, 2024, Alabama Governor Kay Ivey signed a bill that removes all income taxes on capital gains from the sale of gold and silver, enabling the state to take an important step forward in reinforcing sound money principles.