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NZD/USD holds positive ground above 0.6050, New Zealand CPI eases more than expected in Q2
The NZD/USD pair trades on a stronger note around 0.6065 on the weaker US Dollar during the early Asian session on Wednesday. The New Zealand Dollar edges higher after the release of the New Zealand Consumer Price Index reading.
AUD/USD hangs near one-and-half-week low touched on Tuesday
AUD/USD struggles to gain any meaningful traction during the Asian session on Wednesday. A strong bullish sentiment across the global equity markets, bets that the RBA could raise interest rates again and the September Fed rate cut-inspired US Dollar selling bias act as a tailwind for the pair.
Gold price pulls back from record peak, Fed rate cut hopes to limit losses
Gold price ticks lower during the Asian session on Wednesday. Against the backdrop of the risk-on environment, a modest US Dollar uptick prompts some profit-taking. That said, expectations for an imminent start of the Federal Reserve's rate-cutting cycle in September should cap the USD and benefit the yellow metal.
Dogecoin's recent lag provides opportunity for investors to ride potential 40% rally
Dogecoin is up 1% on Tuesday, as a recent analysis shows that its price is following similar patterns to top cryptocurrencies like Bitcoin, Ethereum, and Solana. While the move has seen DOGE show lesser volatility compared to previous cycles, the meme coin could be set to resume its sharp movements with a potential 41% rally.
Despite upside surprise, Retail Sales show lost momentum
Despite lower sales at autos dealers and at gas stations, retail spending held steady in June. Excluding those categories, it was the best month since January 2023, and that means upside risk for Q2 consumer spending.