🌏 International News:

The Federal Reserve remains hawkish, delaying rate cuts and boosting market optimism for the USD. Despite April’s CPI data showing a significant cooldown 📉, recent Fed statements indicate no rush for rate cuts, emphasizing the need for more evidence of inflation decline 📊.

The Fed’s meeting minutes revealed concerns over insufficient inflation progress, suggesting a prolonged high-interest rate stance 📈. The ICE Dollar Index (DXY) spiked post-meeting minutes, nearing 105.00, its highest since May 15. Offshore RMB hit a high of 7.2446 against USD in early Asia trading but later fell to a new low of 7.2561 💵.

🇦🇺 Australian News:

Iron ore prices are boosting the AUD, leading to a gradual rise 📈. Despite a slight dip earlier this week, the RBA’s hawkish tone on inflation risks suggests potential rate hikes 📉. High commodity prices and extended high rates support the AUD 💹.

Analysts predict support at 0.6450-0.6420 for AUD/USD, with potential resistance at 0.6690-0.6715. With metal prices surging, the AUD is testing the 0.6650 resistance area, potentially resuming its upward trend as we move into the second half of the year 🔼.