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AUD/USD reverses from 0.6800 as USD sellers take a breather
AUD/USD retreats from fresh seven-month highs near 0.6800 in the Asian session on Monday. A pause in the US Dollar decline, following the dovish comments from Fed Chair Powell. weighs on the pair, as traders weigh the latest Middle-East geopolitical escalation. US data eyed.
USD/JPY keeps the red near 144.00 on Fed/BoJ policy divergence
USD/JPY is off the lows but remains under selling pressure near 144.00 in Asian trading on Monday. The Fed-BoJ policy divergence acts as a headwind to the pair amid escalating geopolitical tensions in the Middle East. Focus stays on US data.
UPCOMING CALENDAR EVENTS
Editors’ Picks
Gold price extends its uptrend as Fed’s Powell gives a clear signal for a rate cut in September
The Gold price holds positive ground above the $2,500 psychological support on Monday. The uptick in the precious metal is bolstered by the rising expectations that the US Federal Reserve will begin lowering borrowing costs in September.
Bitcoin breaks $64,000 level
Bitcoin price broke out of the consolidation zone between $57,000 and $62,000, showing that a rally is imminent. Ethereum is moving close to the $2,900 resistance level, which, if crossed, indicates a bullish move. Ripple breakthrough over the $0.626 barrier level may portend an uptrend.
Week ahead: PCE inflation eyed as Fed lays groundwork for September cut
Focus to stay on the Fed as PCE inflation to be week’s main highlight. Eurozone inflation data to be crucial for ECB rate cut hopes. Australian and Tokyo CPI, plus Canadian GDP also on the agenda.