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AUD/USD depreciates ahead of the Australian Budget Release
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 finds thin gains on Monday, but technicals weigh heavy ahead of US inflation updates
EUR/USD found slim upside on Monday, climbing from early bids near 1.0770 but bullish momentum remains limited with the pair struggling to break above the 1.0800 level.
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Editors’ Picks
Gold loses its bright amid mixed market mood
Gold prices retreated sharply on Monday from near $2,350 even though US Treasury yields declined, undermining appetite for the Greenback. Traders brace for a busy economic docket in the United States. The XAU/USD trades around $2,336, down 1% amid a risk-on impulse.
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.