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AUD/USD stands tall near YTD peak ahead of Aussie Retail Sales
AUD/USD trades with a mild positive bias just below its highest level since February 2023 touched on Monday and looks to Australian Retail Sales data for a fresh impetus. In the meantime, the optimism over China's stimulus measures, the RBA's hawkish stance and the underlying bullish tone across the global financial markets lend support to the Aussie.
USD/JPY bulls now look to build on momentum beyond 144.00
USD/JPY ticks higher beyond 144.00 during the Asian session on Tuesday. Japan's incoming PM Shigeru Ishiba sounded cautious about further BoJ rate hikes and intends to call a general election on October 27. This, along with the risk-on mood, overshadows the upbeat Japanese data and undermines the safe-haven JPY amid a modest USD strength.
Gold holds steady around $2,635; bulls seem non-committed amid mixed cues
Gold price finds support near the $2,625-2,624 area and now seems to have stalled its pullback from the record high touched last week. Geopolitical risks, along with a mixed performance around the Asian equity markets, drive some haven flows towards the safe-haven XAU/USD.
Bitcoin and crypto market maintain decline despite Fed Chair Powell's hints at further rate cuts
The general crypto market continued on a downtrend on Monday despite Fed Chair Jerome Powell hinting at the possibility of further interest rate cuts later in the year.
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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