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AUD/USD hovers around 0.6750 amid cautious mood ahead of Fed meeting
AUD/USD consolidates the overnight strong gains around 0.6750, as traders turn cautious ahead of a two-day FOMC meeting starting this Tuesday. Heading into the central bank event risk, the US Dollar languishes near the 2024 low amid bets for an oversized rate cut by the Fed.
USD/JPY stays defensive near 140.50 on Fed-BoE policy divergence
USD/JPY stays on the back foot at around 140.50 in the Asian session on Tuesday. The Japanese Yen remains supported amid hawkish BoJ expectations while the US Dollar bears the brunt of increased odds of an outsized Fed rate cut this week. US Retail Sales data is awaited.
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Editors’ Picks
Gold price consolidates near all-time peak, looks to Fed before the next leg up
Gold price is seen oscillating in a narrow trading band during the Asian session on Tuesday and consolidating its recent gains to a fresh all-time peak, around the $2,589-2,590 region touched the previous day.
Bitcoin approaches its $56,000 support level
Bitcoin is approaching a crucial daily support level of $56,000, hinting at a possible recovery. Ethereum faced rejection from the resistance level, suggesting a downward trend with weak momentum. In contrast, Ripple has bounced above the 100-day EMA, indicating a continued upward trend.
Trump's election chances could impact Bitcoin and crypto prices
The Republican presidential candidate has wooed top crypto voices and community members through several actions, including accepting crypto donations and dedicating a part of the GOP platform to cryptocurrencies and blockchain. The former president also announced the launch of a new crypto platform.