Tourists are flooding into Japan this year because currency values matter to every day people whether they regularly follow exchange rates or not. Here's my travel report from Japan, its economy and what forex traders need to know.
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AUD/USD rebounds above 0.6550 ahead of Australian Retail Sales
![AUD/USD rebounds above 0.6550 ahead of Australian Retail Sales](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/AUDUSD/australian-currency-23690700_XtraSmall.jpg)
The AUD/USD pair trades on a stronger note around 0.6555 during the early Asian session on Monday. The rising bets that the US Federal Reserve would begin cutting interest rates in September weigh on the US dollar. Market participants will monitor the Australian Retail Sales on Tuesday.
EUR/USD could the Federal Reserve pave the way for a September cut?
![EUR/USD could the Federal Reserve pave the way for a September cut?](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/EURUSD/money-euro-and-dollar-banknotes-17371247_XtraSmall.jpg)
Macroeconomic data imbalances may end up benefiting the US Dollar. European tepid growth may soon take its toll on the Euro. EUR/USD maintains the bullish bias in the daily chart despite absent weekly progress.
Gold attracts some buyers near $2,400 as US PCE data lifts rate-cut hopes
![Gold attracts some buyers near $2,400 as US PCE data lifts rate-cut hopes](https://editorial.fxstreet.com/images/Markets/Commodities/Metals/Gold/gold-gm187363896-28836378_XtraSmall.jpg)
Gold price edges higher to $2,395 during the early Asian trading hours on Monday. The yellow metal gains ground on the hope of an interest rate cut by the Federal Reserve in September after cooling US inflation data.
Betting big on crypto: Polymarket sees $300 million monthly volume as prediction markets gain traction
![Betting big on crypto: Polymarket sees $300 million monthly volume as prediction markets gain traction](https://editorial.fxstreet.com/images/TechnicalAnalysis/Volume/Liquidity/man-getting-money-out-of-his-wallet-gm488959733-39476544_XtraSmall.jpg)
Polymarket, a crypto prediction platform built on Polygon has observed the highest volume month in its history, as interest in US Presidential elections and the Olympics peaks. Crypto traders are betting on the 2024 US Presidential election forecast and the Paris Olympics.
Week ahead: Fed, BoE, and BoJ claims spotlight
![Week ahead: Fed, BoE, and BoJ claims spotlight](https://editorial.fxstreet.com/images/Macroeconomics/CentralBanks/FED/the-federal-reserve-building-in-washington-dc-usa-67160227_XtraSmall.jpg)
The financial markets will be exceptionally busy this week, with the US Federal Reserve taking centre stage. The Bank of England and the Bank of Japan will also claim a portion of the spotlight.