Forex Today: Escalating geopolitical tensions weigh on sentiment – by eren_fxstreet Currencies Majors Metals Politics
Markets have turned risk-averse amid escalating geopolitical tensions on Tuesday. The dollar stays relatively resilient against its major rivals and global equity indexes stay on the back foot. The Shanghai Composite Index lost more than 2%, the Euro Stoxx 600 Index is down 0.7% after the opening bell and USindex futures are falling between 0.55% and 0.9%. JOLTS Job Openings will be the only data featured in the US economic docket and investors will pay close attention to political developments.
Earlier in the day, the Reserve Bank of Australia announced that it raised its policy rate by 50 basis points to 1.85% as expected. In its policy statement, the RBA said the hike was a further step in the "normalization" of policy but removed the term "extraordinary" stimulus from its policy statement. This change of language cause the AUD to come under heavy pressure andhas erased a large portion of Monday's gains and extended its slide toward 1.0200.dropped below 1.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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