The Australian dollar nudged higher on Tuesday, brushing up against resistance as a rally in Japanese stocks bolstered risk sentiment across the market.
Greater supply, when meeting a comparatively lower demand, typically leads to an expected drop in prices.
Copper prices fell as markets weighed ongoing economic uncertainties and awaited key demand outlook indicators. Copper dipped, reflecting cautious market sentiment.
Gold prices remained stable as traders await crucial US inflation data this week, which could impact the Federal Reserve’s upcoming interest rate decision.
Key Points Asian currencies gained 0.1%-0.2%, and equities rose following strong US jobless claims data, easing recession fears. Despite positive Asian cues, the Indian rupee remains among the worst performers this month, reflecting strong US dollar demand. The rupee’s divergence …
Key Points The unemployment rate of New Zealand increased, but less than expected, in the second quarter, which provided some relief to the market. Employment figures showed growth, and while annual wage inflation continued to slow for the fifth consecutive …
Oil prices edged higher after a significant drop in US crude inventories, rebounding from multi-month lows. Learn more about the factors influencing the oil market.
GBPUSD forming potential double bottom after the rate cut decision from the BoE. Explore market impacts and short-term trading opportunities in the British pound.
Key points Spot gold increased by 0.3% to $2,387.37 per ounce. U.S. gold futures slipped 0.3% to $2,426.00 per ounce. Market sees a 72% chance of a 50 basis points rate cut in September. Spot gold prices rose 0.3% to …
Chicago soybeans gained 0.2%, reaching $10.20-1/4 a bushel as of 0025 GMT, marking their first rise in three sessions. Corn futures edged up by 0.1% to $4.01 a bushel, and wheat inched higher by 0.1% to $5.38-3/4 a bushel.
