6 June Economic News

The gold market has remained subdued in a low volatility environment. However, the recent release of ISM services data has sparked an increase in gold prices.

The Dow and Nasdaq 100 are expected to rise, while the Hang Seng is facing difficulties.

Asian stock markets are expected to open lower, with the RBA interest rate decision being the key event of the day. The cash rate futures indicate a 64% probability of a rate pause, but there is still an expectation of an additional hike in subsequent meetings.

The AUD/USD pair may show potential for a turnaround in short-term momentum, but it is still trading within a falling wedge pattern since February this year, which may have a downward bias until certain resistance levels are overcome.

The Australian Dollar increased in value after the Reserve Bank of Australia unexpectedly raised its benchmark cash rate by 25 basis points. The central bank has suggested that there may be further increases in the future, leaving investors wondering what’s next for the AUD/USD exchange rate.

The US dollar has paused after a volatile start to the week, with the RBA raising rates and causing the AUD/USD to rise. Volatility has decreased across markets including equities, bonds, commodities, and FX.