Gold price (XAU/USD) loses momentum to around $4,100 during the early Asian session on Wednesday. The precious metal extends the decline as traders cement views on the US Federal Reserve (Fed) hiking interest rates this year.
The Australian Dollar collapsed by over 1.20% on Tuesday as risk aversion favoured flows into the Greenback amid expectations of higher US interest rates, while the Aussie fell. The AUD/USD trades at 0.6915 after dropping from daily highs of 0.7005.
United States API Weekly Crude Oil Stock climbed from previous -8.33M to -0.765M in June 19
The Loonie registers losses of 0.40% on Tuesday as the US Dollar refreshes year-to-date (YTD) highs, while falling Oil prices weighed on the CAD, with USD/CAD trading above 1.4200 for the first time since April 2025.
The US Dollar Index (DXY), which tracks the Greenback's value against a basket of six major currencies, extends its rally on Tuesday, climbing to its highest level since May 2025. At the time of writing, the index trades around 100.40, up 0.4% on the day.
Argentina Gross Domestic Product (YoY) came in at 2.3%, above expectations (1.7%) in 1Q
The Swiss Franc (CHF) extends its losses for the fifth straight trading day against the US Dollar (USD), down 0.15% on Tuesday, as risk appetite sours amid the AI rout and expectations that the Federal Reserve (Fed) could raise rates later this year. At the time of writing, USD/CHF trades at 0.8100
The US Dollar Index (DXY) surged to a one-year high near 101.40 on Tuesday as investors digested the latest S&P Global US Purchasing Managers Index (PMI), which showed business activity remained resilient. The Manufacturing PMI rose to 55.7 in June, its highest level since May 2022.
Gold (XAU/USD) price erases Monday’s gains, diving over 1.30% on Tuesday, pressured by broad US Dollar (USD) strength, driven by a hawkish Federal Reserve (Fed), as well as a risk-off mood that is driving flows toward the Greenback's safe-haven appeal.
Commerzbank highlights strong South Korean export momentum, led by semiconductors and petroleum, but notes that South Korean Won (KRW) remains one of Asia’s weakest currencies versus the Dollar.
The AUD/USD fell sharply near the 0.6920 level on Tuesday, as investors await the upcoming Australian Consumer Price Index (CPI) release for fresh clues on the Reserve Bank of Australia’s (RBA) policy outlook.
The Dow Jones Industrial Average (DJIA) held in the green through Tuesday even as the rest of the equity board bled. On the surface that reads as strength; underneath, it is anything but. The index held up for the least flattering reason on offer, namely its composition.
