The US Dollar is facing struggles following Jerome Powell's comments on disinflation, despite positive JOLTs data. This uncertainty in the market is causing traders to turn towards safe-haven assets, with many adding back to their XAU/USD positions according to TDS.
On the other hand, the Canadian Dollar has rebounded on Tuesday, continuing its choppy trading pattern. However, Copper is under selling pressure as the market remains uncertain about global economic growth.
In contrast, the oil market has turned to the upside, providing some relief for investors. Fed's Gooslbee's comments on inflation have also added to the uncertainty in the market, causing fluctuations in major currency pairs like GBP/USD and USD/CAD.
Despite this, the Australian Dollar remains strong as the RBA keeps a rate hike on the table, providing some stability in the market. Overall, traders should remain cautious and monitor the latest developments in the market to make informed trading decisions.
Learn about my trading tools: https://www.mql5.com/en/users/philip.edits/seller
On the other hand, the Canadian Dollar has rebounded on Tuesday, continuing its choppy trading pattern. However, Copper is under selling pressure as the market remains uncertain about global economic growth.
In contrast, the oil market has turned to the upside, providing some relief for investors. Fed's Gooslbee's comments on inflation have also added to the uncertainty in the market, causing fluctuations in major currency pairs like GBP/USD and USD/CAD.
Despite this, the Australian Dollar remains strong as the RBA keeps a rate hike on the table, providing some stability in the market. Overall, traders should remain cautious and monitor the latest developments in the market to make informed trading decisions.
Learn about my trading tools: https://www.mql5.com/en/users/philip.edits/seller
