Analyzes

The AUD/USD exchange rate soared to the highest level since February 2023 as the US Dollar Index retreat gained steam.

The AUD/USD pair attracts fresh buyers following the previous day’s modest decline and rallies to levels beyond the 0.7100 mark, or a fresh high since February 2023, on Wednesday.

Gold is finding its feet above the $5,000 mark early Wednesday, struggling to build on the latest uptick as buyers turn cautious ahead of the delayed release of the US Nonfarm Payrolls (NFP) data.

Won’t someone please think of householders? 

EUR/USD’s recovery appears to have met some minor resistance just north of 1.1900 the figure, although its broader picture keeps favouring extra advances in the short-term horizon, with the immediate target at the 1.2000 threshold.

The battle of wills between buyers and sellers continues. The Gold price has spent most of Tuesday confined within Monday’s range and is currently struggling to hold above $5,000, unable to surpass last week’s peak at $5,092.