Forex News

The Australian Dollar registered gains against the US Dollar on Tuesday, even though inflation in the United States edged, spurring hawkish remarks by Fed Chair Jerome Powell. The AUD/USD trades near 0.6624, virtually unchanged as Wednesday’s Asian session commences.

EUR/USD kept the bullish bias well in place for the second session in a row, leaving behind the 1.0800 barrier and the key 200-day SMA (1.0790) prior to key data releases in the EMU and US on Wednesday.

Following Monday's decline, Gold stages a rebound toward $2,350 on Tuesday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.5% after April producer inflation data, allowing XAU/USD to hold its ground.

Bitcoin (BTC) price tests the patience of traders as it glides along an ascending trendline on the four-hour time frame. Meanwhile, the GameStop saga that has resurfaced after three years distracts the market.

Ahead of the US CPI & Retail Sales report, I breakdown how to combine forex fundamentals with technicals to determine whether we've seen a US dollar top?