The Australian Dollar (AUD) held its ground against the US Dollar (USD) on Tuesday ahead of the Reserve Bank of Australia's (RBA) interest rate decision. The AUD/USD pair is likely to strengthen as US President Donald Trump has extended the China tariff deadline for another 90 days. The Reserve Bank of Australia (RBA) is expected to announce a 25 basis point (bps) interest rate cut to 3.6% from 3.85% at its August monetary policy meeting. Traders will likely be watching the Monetary Policy Statement, followed by a press conference by RBA Governor Michele Bullock. The Trump administration...
Oil prices were little changed as investors weighed President Donald Trump's delay of high US tariffs on China against the likely outcome of his meeting with Russia's Vladimir Putin. Brent crude traded near $67 per barrel, while West Texas Intermediate was around $64. Prices remained near two-month lows after a sluggish trading session on Monday and low volumes at the start of the Asian session. Trump signed an order extending a ceasefire with China until November 10, delaying a scheduled tariff increase on Tuesday. Traders were looking ahead to a meeting between Trump and Putin later this...
Silver prices (XAG/USD) strengthened slightly to around $37.90 in Asian trading on Tuesday (August 12th), driven by expectations that the US Federal Reserve will cut interest rates at its upcoming September meeting. This optimism arose after US employment data for July showed weakness, reinforcing the view that the central bank would shift to a more accommodative monetary policy. Dovish statements from Fed officials also weakened the US dollar, thus supporting the strengthening of dollar-denominated commodities like silver. Lower interest rates reduce the opportunity cost of holding...