The Australian Dollar (AUD) continues to weaken against the US Dollar (USD) on Tuesday, driven by dampened market sentiment following President-elect Donald Trump's announcement of a 10% increase in tariffs on all Chinese goods entering the United States (US), along with a 25% tariff on imports from Mexico and Canada. The downside for the AUD/USD pair may be limited, as the Australian Dollar could find support from the Reserve Bank of Australia's (RBA) hawkish outlook on future interest rate decisions. Traders are now turning their attention to Australia's Monthly Consumer Price Index...
The Japanese yen remained firm around 154 per dollar on Tuesday, up about half a percent so far this week, as US President-elect Donald Trump threatened additional tariffs on China, Mexico, and Canada, dampening global risk sentiment. The yen also gained support from Trump's nomination of Scott Bessent as US Treasury Secretary, which provided a sense of stability in the markets and led traders to scale back their "Trump trades." Domestically, investors are focused on upcoming inflation data from Tokyo, which is seen as a leading indicator of nationwide price trends. On the monetary policy...
Oil prices fell in early Asian trading on Tuesday, extending losses from the previous session as the prospect of an Israel-Lebanon ceasefire prompted traders to price in a lower risk premium for crude. A surge in the dollar, after U.S. President-elect Donald Trump threatened to impose tariffs on China, Canada and Mexico, also weighed on oil prices. Brent crude for January delivery fell 0.3% to $72.80 a barrel, while West Texas Intermediate crude fell 0.3% to $68.33 a barrel by 8:14 p.m. ET (01:14 GMT). Oil pressured by reports of an Israel-Hezbollah ceasefire looming Oil prices fell on...