AUDUSD Exchange Rate

The antipodean currencies such as the Australia and the New Zealand dollars weakened against their major counterparts in the Asian session on Tuesday, as Asian stock markets traded lower amid lingering uncertainty about the outlook for interest rates, with some U.S. Fed officials warning the central bank may still need to raise rates if inflation persists. Traders also seemed reluctant to make more significant bets ahead of the release of the minutes of the latest Fed meeting.

The Australian dollar weakened against other major currencies in the Asian session on Tuesday.

Members of the Reserve Bank of Australia's Monetary Policy Board said that the country's economy was slowing and that inflation was declining less than expected, minutes from the central bank's May 7 meeting revealed on Tuesday.

The Australian dollar strengthened against other major currencies in the Asian session on Monday, as Asian stock markets traded higher, following the mixed cues from Wall Street on Friday, after recent economic data has generated optimism about an interest rate cut in the coming months, but comments from U.S. Fed officials have put a damper on some of the cheer. Announcement of fresh stimulus measures in China also boosted commodity prices.

Oil gained 0.7%. The Australian dollar is overbought but unchanged. The Euro and Dollar-yen traded sideways; the Euro is overbought, and the Dollar-yen has a negative signal. China's gasoline exports hit a low. Japan's Nippon Steel VP will visit the US for a deal. Global stocks rose on potential Fed rate cuts.

The Dollar Index (DXY), a measure of the Greenback’s value against a basket of 6 major currencies, finished flat, at 104.50. Fed officials called for caution before moving to cut interest rates despite signs of cooling inflation.

geopolitical issues in Eastern Europe and the Middle East have intensified, driving safe-haven gold prices to all-time high levels.

The Dollar Index (DXY), which weighs the value of the Greenback against a basket of 6 major currencies, rebounded to 104.50 from 104.30 despite mixed US economic data.