The Australian Dollar (AUD) extends its losses against the US Dollar (USD) on Wednesday for the third successive session. The AUD/USD pair loses ground after the release of the Monthly Consumer Price Index (CPI). However, the Australian Bureau of Statistics reported that monthly inflation, in the price of a fixed basket of goods and services acquired by household consumers, steadied at 2.4% year-over-year in April, surpassing the expected 2.3% increase. The AUD/USD pair depreciates as the US Dollar receives support from a dovish tone surrounding the US yields, driven by Japan's indication...
The GBP/USD pair attracts some sellers to around 1.3480 during the Asian trading hours on Wednesday. The Greenback strengthens against the Pound Sterling (GBP) on the encouraging economic signs in the United States (US). Data released by the Conference Board on Tuesday showed that the US Consumer Confidence Index rose to 98.0 in May from 86.0 in April (revised from 85.7). The Minutes of the Federal Open Market Committee (FOMC) will take center stage later on Wednesday. The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of...
Gold prices fell in Asian trade on Wednesday, remaining under pressure from improved risk appetite after U.S. President Donald Trump postponed plans to impose steep trade tariffs on the European Union. Gold and broader metals were also pressured by a mild recovery in the dollar, which came amid some signs of stability in the Treasury market. But bullion still remained relatively underpinned by uncertainty over U.S. trade and fiscal health, with focus on more U.S. trade deals and the progress of a divisive tax cut bill backed by Trump. Spot gold steadied at $3,301.96 an ounce, while gold...