US dollar not strengthening despite risk-off sentiment, focus shifts to US CPI report.

From Investing.com: 2024-12-10 04:38:00

US stocks saw a rare red session on Monday, with focus now on Wednesday’s US CPI report. The RBA softened its rhetoric, causing the Aussie to lose ground. Risk sentiment was in retreat as US stock indices and the cryptocurrency market suffered losses. Gold and Bitcoin had mixed moves, with gold testing the upper boundary of its range and Bitcoin failing to maintain the $100k threshold. The FX market had low volatility, with the market shifting focus to incoming US data. The RBA kept rates unchanged but softened its stance, citing declining inflationary pressures. The Aussie is on the back foot today, with expectations split on a rate cut in February. The positive commentary from China continues to influence market sentiment.



Read more at Investing.com: US Dollar Fails to Benefit From Muted Risk-Off Sentiment