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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 drifts lower during the Asian session on Tuesday, though it manages to hold above a nearly two-month low touched the previous day amid mixed cues. Diminishing odds of a near-term RBA rate hike act as a headwind for the Aussie, while the US Dollar draws some support from hawkish Fed expectations. However, easing tensions in the Middle East keeps US Dollar bulls on the defensive and should limit losses for the currency pair ahead of US inflation figures.
USD/JPY holds steady above 160.00 during the Asian session on Tuesday as expectations that authorities will step in again to prop up the Japanese Yen hold back bulls from placing fresh bets. Moreover, a de-escalation of tensions between Israel and Iran undermines the safe-haven US Dollar, capping the currency pair. Traders also seem hesitant and opt to wait for the release of the latest US inflation figures on Wednesday and Thursday.
Gold struggles to attract any meaningful buyers and remains close to its lowest level since March 23, touched the previous day. Expectations of more hawkish central banks, including the US Fed, continue to undermine demand for the non-yielding bullion. Meanwhile, a halt in fighting between Israel and Iran keeps the US Dollar bulls on the defensive, which should act as a tailwind for the precious metal as traders await the latest US inflation figures, due on Wednesday and Thursday.
Bitcoin treasury firm Strategy bought 1,550 BTC last week for roughly $101.3 million, according to a Form 8-K filing on Monday. The purchase, made at an average price of $65,332 per Bitcoin, was funded through proceeds from the company's at-the-market equity offering program.
On June 12, the largest initial public offering (IPO) in history is set to hit the tape, and almost nobody is asking whether the price is right, because almost everybody already wants in.
More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.
