Global markets show mixed signals as the RBA decision looms, gold rebounds near $3,950 and crypto faces geopolitical chatter.

Risk sentiment stayed subdued in early Asian trading on Tuesday. Traders are watching the Reserve Bank of Australia's upcoming rate decision while gold edged higher on easing oil prices and the approaching U.S. mid‑term elections. The dollar showed a split picture, slipping against the euro and pound but holding firm against the yen.

Currencies and central banks

The Australian dollar hovered around the 0.7000 level against the U.S. dollar as investors priced in a likely 25‑basis‑point hike that would lift the official cash rate to 4.85%. The Reserve Bank of New Zealand left its policy unchanged at 2.75%, causing the kiwi to retreat from recent gains and settle just under 0.5650. Meanwhile, the yen slipped to around 158 per dollar, its highest since late October, despite hopes that renewed U.S.–Iran dialogue could ease geopolitical risk.

Gold and other commodities

Spot gold climbed back toward $3,950 as lower oil prices reduced inflation concerns and market participants focused on the U.S. mid‑term vote. Silver found support near $49, rebounding from a recent dip but still facing resistance around $52.50. Oil prices fell after Iran's supreme leader hinted at a diplomatic dialogue with Washington, adding to the broader commodity softness.

Cryptocurrency

North Korea rejected U.S. accusations linking it to the $6.3 billion Binance breach, calling the claims politically motivated. In other crypto news, a New Jersey regulator lifted a staking ban and dropped a $5 million penalty, clearing the path for Coinbase to resume staking services in the state. Analysts also warned that AI‑driven attacks could pose a greater risk to Bitcoin security than quantum computing.

Equities

Historical analysis of past U.S. mid‑term elections suggests a potential boost for the S&P 500 if Democrats regain control of Congress. Energy stocks are in focus as market participants weigh the impact of the election outcome on policy direction.

Key calendar events

• 03:30 UTC | AUD Cash Rate – high impact
• 03:30 UTC | AUD RBA Monetary Policy Statement – high impact
• 03:30 UTC | AUD RBA Rate Statement – high impact
• 04:30 UTC | AUD RBA Press Conference – high impact
• 07:30 UTC | CHF CPI m/m – medium impact
• 15:00 UTC | USD JOLTS Job Openings – medium impact
• 15:16 UTC | USD Congressional Elections – high impact
• 16:00 UTC | CAD BOC Gov Macklem Speaks – medium impact
• 21:45 UTC | NZD Employment Change q/q – high impact
• 21:45 UTC | NZD Unemployment Rate – high impact

Related news

• Pound weakens to near 1.3400 ahead of US midterm elections
• New jersey drops coinbase staking order ahead of crypto’s midterm test
• Gold rises to near $3,950 as US midterm election looms
• Usd retreats as elections and rba decision loom

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This article is compiled from international market news for information only. It is not investment advice.