The Australian Dollar (AUD) strengthened against the US Dollar (USD) on Monday (August 4), extending its gains for the second consecutive trading day. The AUD/USD pair strengthened following the release of Australian inflation gauge data. The TD-MI Inflation Gauge rose 0.9% month-on-month in July, following a modest 0.1% increase in June and marking the sharpest increase since December 2023. Meanwhile, the annual inflation gauge remained consistent at 2.4%. This monthly increase adds to the Reserve Bank of Australia's (RBA) concerns amid ongoing uncertainty in supply chains and consumer...
The Japanese yen weakened toward 148 per dollar on Monday (August 4), weakening after the previous session's gains as investors reassessed the direction of US Federal Reserve policy. Although a weak US jobs report on Friday reinforced expectations of a near-term interest rate cut, Fed officials remained cautious, citing inflation risks associated with President Trump's massive tariffs. The dollar strengthened again as sentiment shifted, pressuring the yen. Meanwhile, markets awaited the minutes of the Bank of Japan's latest policy meeting for clues on the timing of a potential interest rate...
Silver held around $37 per ounce on Monday after gaining nearly 1% in the previous session, supported by rising expectations for a Fed rate cut following a weak US employment report for July. Data released Friday showed nonfarm payrolls rose by just 73,000, well below expectations, with a downward revision of 258,000 from previous months, signaling deeper labor market stress. The market is now almost fully pricing in a Fed rate cut in September, with more than 63 basis points of easing expected by the end of the year. A weaker dollar and falling US Treasury yields have further boosted...