The outlook has improved for gold after debt ceiling talks stall, Yellen warns of further potential bank mergers and Powell talks down rate hikes due to slowing credit

The Australian Dollar had a look lower last week but managed to recover and is now firmly entrenched in the 3-month range despite risks in the macroeconomic environment.

The US Dollar saw its best week of the year so far as CPI and consumer inflation expectations data cooled Fed rate cut bets. Will Chair Jerome Powell disappoint markets next?

Gold prices eased into the weekend as yesterday’s dollar appreciation gains momentum on surprise inflation statistic. Safe haven demand likely to keep gold afloat

The Australian Dollar collapsed to end last week with the US Dollar finding favour with increasing bets that the Fed will be cutting the target rate later this year.

The US Dollar fell cautiously this past week as the Federal Reserve raised interest rates and Chair Jerome Powell was unable to suppress summer rate cut bets. Eyes turn to CPI and Fedspeak.

Gold has produced a phenomenal week of volatility with markets shifting from major risk aversion to surrendering most of its gains as US jobs data runs hot

The Australian Dollar finished stronger last week but mostly on the back of a struggling US Dollar with solid domestic data mostly ignored amid growing anxiety of where the US is headed.

Gold prices have been stuck in a broad range these last two weeks. Potentially high impact event risk (FOMC, PMI or NFP) may provide the necessary impetus for a breakout.

The Australian Dollar stumbled last week but remains within a two-month range and with monetary policy decisions ahead, a breakout might see momentum unfold in AUD/USD.