The Aussie Dollar keeps waiting for a fresh catalyst to resume its march north, which kicked in in late March. Meanwhile, dynamics around the US Dollar and geopolitics seem to have been too much for the Aussie, prompting a knee-jerk in AUD/USD to the boundaries of the 0.7000 contention zone.
On June 12, the largest initial public offering (IPO) in history is set to hit the tape, and almost nobody is asking whether the price is right, because almost everybody already wants in.
A quite promising week saw the US Dollar (USD) trade with gains on almost every day, while the outstanding Nonfarm Payrolls (NFP) figures released on Friday lifted the US Dollar Index (DXY) to new two-month highs near its psychological 100.00 barrier.
Gold is licking its wounds, hanging close to three-month lows of $4,300 in Asia on Friday. The bright metal is consolidating before resuming Friday’s sell-off amid re-escalation in the Middle East and hawkish US Federal Reserve (Fed) expectations.
A quite promising week saw the US Dollar (USD) trade with gains on almost every day, while the outstanding Nonfarm Payrolls (NFP) figures released on Friday lifted the US Dollar Index (DXY) to new two-month highs near its psychological 100.00 barrier.
The EUR/USD pair edged lower and settled around 1.1550, trading at levels last seen in early April. Market participants finally gave up on optimism, with a combination of war-related fears and upbeat United States (US) data boosting the US Dollar (USD) demand by the end of the week.