The AUD/USD pair retraces to near 0.6400 during European trading hours on Tuesday from an over four-month high of 0.6450 posted earlier in the day.
The Aussie pair corrects sharply as the US Dollar (USD) gains despite increasing uncertainty over the bilateral trade outlook between the United States (US) and China.
The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, rebounds to near 99.30 after a steep correction on Monday. Market sentiment is favorable as investors expect the trade war will be limited between the world's two largest powerhouses. S&P 500 futures have posted some gains in the European session, demonstrating an increase in risk appetite of investors.
Financial market participants have become doubtful about whether trade discussions between Washington and Beijing are getting underway.
Beijing has been denying news stating trade discussions between US President Donald Trump and Chinese President Xi Jinping. However, Trump has insisted that Xi has called many times.
Source: FXStreet
The Australian dollar depreciated past $0.65 on Monday, extending losses from the previous week, as market sentiment remained subdued ahead of this week's release of the RBA meeting minutes and a spee...
The Australian dollar strengthened to around $0.651 on Friday, recouping some losses in the previous session, as a surge in iron ore prices, driven by renewed optimism over Chinese economic support, l...
The Australian dollar weakened to below $0.650 on Thursday, pulling back gains from the previous session, as weaker-than-expected labor data reinforced expectations of an RBA rate cut in August. The ...
The Australian dollar strengthened to around $0.653 on Wednesday, snapping a three-day losing streak, as investors turned their attention to Thursday's labor market data, which could provide fresh ins...
The Australian Dollar (AUD) weakened further against the US Dollar (USD) on Tuesday following the release of US inflation data that dampened hopes for a near-term interest rate cut. The Greenback surg...
Gold held near the highest in a month, as risk-off sentiment returned among investors watching the progress of trade negotiations ahead of US President Donald Trump's Aug. 1 tariff deadline. Bullion traded near $3,395 an ounce after closing...
The dollar traded in a tight range on Tuesday after a brief fall at the start of the week, as investors watched out for any progress on trade talks ahead of an August 1 deadline for countries to strike deals with the U.S. or face steep...
The Nikkei 225 rose 1% to around 40,200, while the broader Topix Index gained 0.9% to 2,860 in post-holiday trading on Tuesday, extending last week's gains as investors digested the weekend's election outcome. Although Japan's ruling coalition...
Asia-Pacific markets traded mixed Monday, as investors keep a close watch on the People's Bank of China's decision on its 1-year and 5-year loan...
European stocks opened the week on a cautious note, with both the STOXX 50 and STOXX 600 hovering near the flatline as investors closely monitor...
Russia unleashed a renewed attack on Ukraine, targeting the country's central and western regions with drone and missiles as Kyiv's allies pledged...
The U.S. has signaled it will not let up on its Aug. 1 deadline for higher tariffs on the European Union as the bloc fights to strike a deal in...