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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.
USD/JPY holds losses and maintains its range above 160.00 on Tuesday, following the release of the Bank of Japan monetary policy decision. The BoJ hiked the key rate by 25 bps to 1% as widely, providing little to no impetus to the Japanese Yen. The focus is now on the BoJ' Uchida's press conference.
AUID/USD has come under renewed selling pressure and nears 0.7050 in Asia on Tuesday. Traders prefer to stay on the sidelines ahead of the Reserve Bank of Australia (RBA) monetary policy decision before placing fresh bets. Meanwhile, the mixed Chinese activity data failed to inspire the Aussie bulls amid fading US-Iran deal optimism.
Gold holds a pullback from six-day highs of $4,369 as buyers take a breather early Tuesday. The US Dollar looks to fill Monday’s bearish opening gap as markets temper Iran deal optimism. Technically, Gold remains exposed to downside risks whilst below the 21-day SMA near $4,400.
Bitcoin is holding above $65,000 at press time on Tuesday as the Bank of Japan (BOJ) raises its interest rate to 1%, shifting focus away from the US-Iran peace agreement. Uniswap (UNI) and LayerZero edge lower on Tuesday but outpace the broader market over the last 24 hours as the retail sentiment recovers.
The Reserve Bank of Australia is widely expected to leave the Official Cash Rate unchanged at 4.35% when it announces its monetary policy decision on Tuesday, marking a pause after three consecutive rate hikes delivered earlier this year. The decision will be announced at 04:30 GMT, accompanied by the Monetary Policy Statement.
May's CPI put headline inflation at 4.2% on the year, up from 3.8% in April and the hottest reading since April 2023, while core prices rose just 0.2% on the month, undershooting the 0.3% consensus and halving April's pace.
