AUD/USD drifts lower from the 0.6700 mark as the market prepares for US CPI – by Dippusen AUDUSD Fed CPI
AUD/USD is treading water in the early Asian session after hitting the 0.6700 mark in the last trading session. US Dollar Index is on the softer side in early Asian hours, as the market awaits the United States Consumer Price Index data release on Tuesday.EUR/USD grinds near the highest level in a month, after posting the biggest daily gains in a fortnight, as the US inflation data loom. The Euro pair cheered the broad US Dollar strength to rally to 1.
The precious metal has delivered a three-day winning streak and is expected to continue its upside momentum as a sudden collapse of Silicon Valley Bank might force the Federal Reserve to continue a lower pace of policy tightening if not halt the restrictive regime.The shutdown of Silicon Valley Bank became one of the biggest bank failures in the history of the United States. But the impact of this event was not limited to just the financial sector as the crypto market took a hit as well.
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