Forex
US Inflation Data Looms as Markets Await Crucial Core CPI Reading
The Reserve Bank of Australia (RBA) left interest rates unchanged as expected, but this move had little impact on the Australian Dollar's value. The AUD is slightly weaker than before, despite no change in rates.
The US Dollar, on the other hand, is starting to regain some strength ahead of the upcoming Core Consumer Price Index (CPI) data, due out on Wednesday at 14:30 CET. A softer CPI reading could reverse the current Dollar strength and boost equities and precious metals.
In contrast, Gold and Silver are moving higher despite the firmer US Dollar, which is a notable trend. These metals are benefiting from recent technical breakouts, as well as continued demand and geopolitical uncertainty.