A hotter Australian inflation print that keeps a September RBA hike live, combined with Canada's newly specified tariff retaliation against the US, are pushing AUD/CAD toward parity — a cross that expresses both stories more cleanly than either pair does against the Dollar.
Brent fell to around $88, its lowest since Aug. 13, after gaining more than 5% last week. The decline followed two separate developments: Monday's Iran sanctions rollout fell short of its own aggressive rhetoric, with no immediate move against major Chinese banks or firm compliance deadline, and Tuesday brought a New York Times report that the US State Department plans to return evacuated diplomats to the Middle East, a signal of lower near-term escalation risk.
Bitcoin pushed above $80,000 on the same fiscal-credibility trade lifting Gold, plus renewed optimism over US crypto regulation ahead of the September 15 CLARITY Act vote — with 83,901 resistance now the first proof point on the path back to $100K.
TL;DR: AUD/USD barely moved on RBA minutes that confirmed, but didn't change, the existing hawkish-hold debate — the real signal was the Board's openness...