Commerzbank’s Volkmar Baur contrasts the Reserve Bank of Australia (RBA) with the Reserve Bank of New Zealand (RBNZ), noting Australia has already hiked three times and that April Consumer Price Index (CPI), including a monthly fall and lower annual rate, supports a pause.
The US Dollar (USD) is trading practically flat against the Canadian Dollar (CAD) on Wednesday, consolidating gains above 1.3800 at the time of writing, after having rallied about 1.7% over the previous three weeks.
India’s Gold market shows an unusual disconnect after the government raised import duties on the precious metal.