The US Dollar Index (DXY) trades with a cautious tone near the 99.90 region on Tuesday as investors position ahead of Wednesday's highly anticipated United States (US) Consumer Price Index (CPI) report, with inflation expected to tick higher in May.
The Australian Dollar (AUD) trades lower against its major currency peers during the European trading session on Tuesday. The Aussie Dollar is up 0.15% against the US Dollar (USD) as the market sentiment turns risk-on.
Rabobank’s Global Strategist Michael Every notes that Oil prices were little changed after another sharp Middle East escalation involving Israel and Iran, as markets reverted to an ‘as you were’ stance.