Gold prices fell on Wednesday, as the US dollar and Treasury yields jumped after upbeat economic data bolstered expectations that the Federal Reserve will continue hiking interest rates aggressively.
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7.7%. US May Final Wholesale Inventories in June were up at
1.3% from
1.1% in May. Chinese June Vehicle Sales fell to -12.4% from -3.1%. Chinese New Yuan Loans rose to CNY 2.12 billion from CNY 1.50 billion, beating forecasts at 1.80 billion.
EUR/USD – traded in a choppy range, initially falling to an overnight low at 1.1784 before rebounding to its New York close at 1.1845. The overnight high traded was 1.1868.
USD/JPY – The US Dollar initially climbed to an overnight peak at 110.65 from its 110.55 opening on Friday before sliding to finish at 109.77. The overnight low traded was at 109.53.
AUD/USD – The Aussie slumped to its overnight and fresh December 2020 low at 0.7416 from its opening on Friday at 0.7481. The Aussie Battler then recovered to its New York close at 0.7428. Overnight high traded was 0.7484.
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