technical

Gold is defending minor bids above $4,300 in Asia on Tuesday, holding the pullback from six-day highs of $4,369 reached in the US last session.

The Aussie Dollar is still looking for a fresh catalyst to resume its upward trend, which began in late March and appears to have lost momentum ahead of the 0.7300 hurdle in early May.

Bank Indonesia’s emergency rate hike has bought the Rupiah some time, but the currency’s hesitant response suggests it has not yet restored confidence. Can higher interest rates solve the Rupiah’s problem, or do the country’s challenges run deeper? 

Gold is at its highest level in four days early Monday, above $4,300, extending the bullish opening gap and the recent recovery. The bright metal kicks off a new week with a bang, having hit year-to-date (YTD) lows near the $4,000 threshold last week.

The EUR/USD pair managed to close the week in positive territory, but not before trading as low as 1.1499, its lowest since late March and still far below the previous weekly open.

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience.