May 18, 2021 23:36 GMTFXStreet News
AUD/USD wavers inside a 35-pip trading range after refreshing weekly top.
Risk sentiment dwindles despite RBA minutes, vaccine hopes and Yellen’s push to support Biden administration measures.
US dollar drops to fresh low since late February, Wall Street remains on the back foot.
Australia Wage Price Index, FOMC minutes will be the key.
AUD/USD picks up bids around 0.7800, keeping the latest range between 0.7780 and 0.7815, amid the early Wednesday morning in Asia. The Aussie pair jumped to 0.7815 amid Tuesday’s Asian session as RBA minutes and upbeat sentiment favored bulls. However, a lack of clear direction and cautious sentiment ahead of today’s US Federal Open Market Committee (FOMC) meeting minutes seem to have pulled the quote back towards 0.7780, before the latest bounce that portrays sideways moves.
May 19, 2021 13:41 GMTFXStreet News
Gold is benefitting from a weaker USD mid-week.
Gold Price Analysis: XAU/USD to test $1,900 amid data disappointments – TDS
Gold Price Analysis: XAU/USD to lose some of its lustre as real yields rebound – CE
Update: Gold witnessed a modest pullback on Wednesday and dropped to two-day lows, around the $1,854 region during the mid-European session. A goodish pickup in the US Treasury bond yields turned out to be a key factor that prompted some profit-taking around the non-yielding yellow metal amid slightly overbought conditions on short-term charts. In fact, the yield on the benchmark 10-year US government bond climbed further beyond the 1.65% threshold, which allowed the US dollar to reverse an early dip to over four-month lows. This was seen as another factor that acted as a headwind for the dollar-denominated commodity.
KUALA LUMPUR: The ringgit closed weaker against the US dollar in a quiet trading session today as market players shifted their focus to the US Federal.
EMERGING MARKETS-Brazil s real leads Latam FX lower as dollar firms on Fed minutes Reuters 1 day ago By Ambar Warrick and Shreyashi Sanyal Minutes show Fed open to future taper talks Colombian also among top decliners Mexican peso reverses early gains (Adds details, comments; updates prices throughout) By Ambar Warrick and Shreyashi Sanyal May 19 (Reuters) - The Brazilian real led declines among Latin American currencies on Wednesday against a strengthening dollar after minutes of the Federal Reserve s last meeting showed the U.S. central bank might be open to talks of tapering stimulus in the future. The real fell about 1.1%, while the MSCI s index of Latam currencies dropped 0.8%, after several members of the U.S. Federal Open Market Committee (FOMC) said that should the economic recovery continue to gain momentum, it would be appropriate at some point to discuss tightening its accommodative policy, giving the greenback a boost. The