BTC/USD Exchange rate

AUD/USD retraces its recent gains on Tuesday ahead of the Yearly Budget Release by the Australian Government due to be published later in the day. Treasurer Jim Chalmers hinted at positive developments suggesting that the upcoming budget could show a faster decline in inflation than the RBA had predicted.

EUR/USD has recovered its recent gains registered in the previous session, trading around 1.0780 during the Asian session on Tuesday. From a technical perspective, analysis indicates a sideways trend for the pair as it continues to lie within the symmetrical triangle. 

Gold prices retreated sharply on Monday from near $2,350 even though US Treasury yields declined, undermining appetite for the Greenback. Traders brace for a busy economic docket in the United States. The XAU/USD trades around $2,336, down 1% amid a risk-on impulse.

Meme coins in the crypto market saw impressive gains on Monday following a recent surge in GameStop stock. The increased attention surrounding these tokens signifies a potential resumption of the meme coin frenzy of March.

Investors brace for key U.S. inflation data, which are anticipated to play a crucial role in shaping the outlook for Federal Reserve policy and contributing to the market's cautious stance. Investors are particularly sensitive to this data, given its potential to influence interest rate decisions and broader market sentiment.