AUD/USD Dips Down As Geopolitical Anxiety Continues

EUR/USD maneuvered by 3 focuses to exchange at 1.3523 as exchanges keep on agonizing over the circumstances in Portugal and worldwide geopolitical anxiety. The Eurozone's inflationary viewpoint was affirmed yesterday as the district's shopper value file printed at a joint 4-year low of only 0.5%. A swelling perusing of underneath 1.0% is seen by the European Central Bank as being in 'risky domain'.

GBP/USD was down 2 points to trade at 1.7099 on a day with no data and little news as traders focused on political situations and violence around the globe. Investors also warmed to the pound this week after a surge in UK inflation bolstered expectations for an interest rate hike later this year. But data on Wednesday showing no signs of wage pressure slightly tempered those views.

AUD/USD dipped 4 points to trade at 0.9388 as traders moved to safe assets as turmoil continues throughout the globe. The US dollar eased on risk adverse sentiment as the Yen seems to be the beneficiary. The AUD is expected to remain close to the 94 price level even though the RBA is trying to lower the currency value which will weigh on exports.

USD/JPY is trading at 101.26 down by 27 points as the yen continued to gain momentum while geopolitical situations in Palestine, Ukraine, Iraq and Libya keep temperatures boiling. The yen is expected to gain ahead of the UN Security Council’s emergency session. As tensions grown in Ukraine after a pro-Russian separatist group shot down a Malaysian airliner last week President Putin is trying to back away from the fact that Russia supplied the weapons. The yen may push the currency pair to trade as low as 101.18 the next major line of support.

Gold tumbled $6.30 to trade at 1310.60 as global stressed eased after over reaction to the situation in the Ukraine. Gold dipped on profit-taking after jumping 1.5 percent overnight, but the metal is likely to be supported by a wave of risk aversion after a Malaysian airliner was downed in eastern Ukraine, killing nearly 300 people.