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AUD/USD faces the next support at 0.6700
AUD/USD retreated further and approached the key 0.6700 contention zone, where some initial support seems to have turned up, always against the backdrop of a persistent risk-off mood in the global markets.
EUR/USD struggled to surpass 1.1000
EUR/USD remained on the defensive, receding to the 1.0970 zone after failing to extend an early bull run to the psychological 1.1000 barrier amidst rising prudence ahead of the release of the FOMC Minutes on Wednesday.
Gold price slips on Middle East truce calls, clings above $2,600
Gold prices slumped sharply on Tuesday following a strong US jobs report and newswires revealing that Hezbollah supported calls for a truce in the conflict between them and Israel. Hence, hints of a possible de-escalation of the Middle East conflict opened the door for traders to book profits.
RBNZ seen cutting key interest rate by 50 bps in October amid deepening economic downturn
The Reserve Bank of New Zealand is expected to cut interest rates by 50 bps to 4.75% on Wednesday. New Zealand’s deepening economic downturn and inflation optimism flag outsized RBNZ rate cut bets.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
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