Analyzes

Türkiye is once again in a spot nobody likes to be: defending its currency while trying to avoid crushing its economy with higher interest rates.

Gold is consolidating the latest leg down to seven-week lows near $4,450 early Wednesday, following a 1.85% decline seen on Tuesday. Sellers appear to take a breather ahead of the Minutes of the US Federal Reserve’s (Fed) April monetary policy meeting.  

The Aussie Dollar’s uptrend seems to have met some decent resistance in the 0.7270-0.7280 band so far, with AUD/USD still looking for a strong catalyst to extend its rally and dispute the yearly peaks and higher levels.

Market participants maintain a focus on war developments. Continued tensions between the United States (US) and Iran put financial boards in risk-off mode on Tuesday. The US Dollar (USD) is the overall winner, appreciating against all major rivals.

For years, Japan was the world’s ultimate source of cheap money.

GBP/USD remains indecisive, with price action reacting to key technical zones while markets wait for clarity on geopolitical risks and USD direction.