The Australian Dollar (AUD) strengthened on Monday as the US Dollar (USD) softened, driven by optimism in bond markets. This was influenced by President-elect Donald Trump's nomination of seasoned Wall Street figure Scott Bessent as US Treasury Secretary, signaling fiscal conservatism.

Meanwhile, gold prices (XAU/USD) retreated after hitting a nearly three-week high of around $2,721-$2,722 during the Asian session, breaking a five-day winning streak. Bessent's nomination eased market uncertainty, impacting both currencies and commodities.

Trading derivatives carries a high level of risk and may not be suitable for all individuals.

For more details, visit our website and follow us on social media.

#STARTRADER #trading #investing #usdollar #australia #gold #currency #commodities