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Editors’ Picks
AUD/USD consolidates near multi-week low as traders await US CPI
AUD/USD languishes near a multi-week low, around mid-0.6600s, during the Asian session on Wednesday as traders opt to wait on the sidelines ahead of the crucial US consumer inflation figures. In the meantime, the divergent Fed-RBA policy expectations assist spot prices to defend the 100-day SMA support amid subdued USD demand.
Gold sits near the weekly top; awaits US CPI before the next leg up
Gold price is consolidating its weekly gains as traders await the release of the US CPI figures for cues about the Fed’s rate-cut path. Heading into the crucial data risk, the prospects for an imminent start of the Fed’s policy-easing cycle, subdued USD demand and the cautious market mood should continue to act as a tailwind for the XAU/USD.
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