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Seven major central banks announce their rate decisions within days of each other, as stagflation risks stemming from the US-Iran conflict complicate their monetary policy paths.
Strong Australian growth boosts chances of another RBA rate hike but the pair remains under pressure on safe-haven demand for the US dollar.
The pair rises as fiscal worries and growth risks from higher oil prices prevent the Yen from benefiting from risk aversion, while the greenback finds demand.
The Middle East conflict has shaken global markets. Shares are falling while oil, gold and the dollar are rising on risk fears.
The pair slides as New Zealand’s central bank keeps interest rates at 2.25% and maintains an easy policy stance.
Gold surged about 65% in 2025, briefly topping $5,500 in January, supported by record ETF inflows and strong central bank buying. Volatility and options activity signal speculation, but structural demand suggests a supported bull market rather than a bubble.
The Japan election results can weigh on the pair, and the strong US jobs report raises the bar for Fed cuts, but the dollar continues to face challenges from mounting deficits and macro uncertainty.
The pair slips as the Yen firms on political clarity and FX intervention risks, but prospects of bold fiscal stimulus under PM Takaichi could weigh on the Japanese currency.
The pair extends its gains on Yen weakness from fiscal worries tied to the elections and a greenback recovery, but dowside risks linger.
Australia’s central bank raised rates for the first time since late 2023 amid strengthening price pressures, sending the Aussie higher.
The pair drops as markets anticipate FX intervention, after Japanese Prime Minister Takaichi vowed to act against speculative moves, while broader US dollar weakness adds pressure.
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