West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $64.60 during the early Asian trading hours on Tuesday. The WTI extends the rally due to a pause in negotiations for a peace deal between Russia and Ukraine. Traders await the American Petroleum Institute (API) weekly crude oil stock data, which is due later on Tuesday. The latest drone strikes by Ukraine on Russian energy facilities have heightened concerns about oil supply disruptions, boosting the WTI price. Russian officials said that Ukraine carried out a drone attack on Russia on Sunday, causing a significant...
The Australian dollar held its decline around $0.648 on Tuesday, as investors weighed the latest minutes from the Reserve Bank of Australia. The central bank signaled that additional interest rate cuts are likely over the coming year, with the pace of easing dependent on incoming economic data. At its August 2025 meeting, the RBA Board lowered the cash rate by 25 bps to 3.6%, citing continued progress in bringing inflation closer to the midpoint of its 2–3% target range. While a gradual pace of easing may be appropriate due to a still-tight labor market, strengthening private demand, and...
The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, corrects to 98.30 during the Asian trading session on Tuesday, following a decent recovery move the previous day. The US Dollar (USD) faces selling pressure as the independence of the Federal Reserve (Fed), which is an autonomous body and its decisions are not impacted by political influence, has been dampened after the removal of Federal Reserve (Fed) Governor Lisa Cook by United States (US) President Donald Trump over mortgage allegations. Last week, US President Trump called Fed Governor Cook to...