The AUD/USD pair remains confined in a tight range of 0.6550-0.6575 during the early Asian session on Tuesday. A firmer US Dollar weighs on investor appetites and creates headwinds for the pair. AUD/USD is trading around 0.6565, down 0.02% for the day.
EUR/USD is consolidating near 1.0750 and the DXY holds above 104.00. The cautious market mood helps the US Dollar remain steady as investors gear up for crucial macroeconomic data releases and central bank meetings. The US Consumer Price Index is due on Tuesday.
Spot Gold saw further declines on Monday, slipping back below the $2,000 handle to ease into the $1,980 neighborhood as markets get set for a fresh round of US Consumer Price Index inflation figures on Tuesday.
Bitcoin price remains bullish despite the catastrophic setback recorded during the early trading hours of the Asian session. While several other narratives support the big-picture bullish outlook, spot exchange-traded funds (ETFs) have a role to play in it.
The S&P 500 index launched itself just barely to a new high for the year on Monday. In its second hour of trading, the index reached 4,620, which was just above the earlier annual high of 4,607 from July 27.