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AUD/USD maintains ground near the major level, Australian Budget Release eyed
AUD/USD retraces its recent gains on Tuesday ahead of the Yearly Budget Release by the Australian Government due to be published later in the day. Treasurer Jim Chalmers hinted at positive developments suggesting that the upcoming budget could show a faster decline in inflation than the RBA had predicted.
EUR/USD tests the upper boundary around the level of 1.0800
EUR/USD has recovered its recent gains registered in the previous session, trading around 1.0780 during the Asian session on Tuesday. From a technical perspective, analysis indicates a sideways trend for the pair as it continues to lie within the symmetrical triangle.
UPCOMING CALENDAR EVENTS
Editors’ Picks
Gold price gains ground ahead of US PPI data, Fed’s Powell speech
Gold price rebounds despite the consolidation of the US Dollar on Tuesday. The upside of yellow metal might be limited as traders might wait on the sidelines ahead of key US inflation data this week. The higher-for-longer US rate mantra has exerted some selling pressure on the XAU/USD in recent sessions.
Top meme coins post gains following increased social activity amid GameStop pump
Meme coins in the crypto market saw impressive gains on Monday following a recent surge in GameStop stock. The increased attention surrounding these tokens signifies a potential resumption of the meme coin frenzy of March.
PPI to test the soft landing narrative
Investors brace for key U.S. inflation data, which are anticipated to play a crucial role in shaping the outlook for Federal Reserve policy and contributing to the market's cautious stance. Investors are particularly sensitive to this data, given its potential to influence interest rate decisions and broader market sentiment.