The dollar index rallied to a 7-week high on hawkish Fed rhetoric, while WTI crude oil slipped to a 3-week low and Critical Metals shares jumped 35% on a new Greenland deal.
EUR/USD fell to a 7-week low due to dollar strength and lower European government bond yields.
The dollar index climbed to a 7-week high after hawkish Fed comments, supporting the dollar.
WTI crude oil fell more than 1% to a 3-week low, easing inflation expectations.
Critical Metals surged 35% on its Greenland pact, highlighting the huge Tanbreez opportunity.
Gold closed lower pressured by a stronger dollar and hawkish central bank comments.
Silver settled slightly higher despite dollar strength, supported by rising ETF holdings.
USD/JPY rose as T-note yields recovered, offsetting early yen strength from lower oil prices.
The US dollar index climbed to a 7-week high on Tuesday, bolstered by hawkish commentary from Federal Reserve officials Susan Collins and Tom Barkin regarding persistent inflation. Conversely, WTI crude oil prices dropped over 1% to a 3-week low, providing a slight offset to dollar gains by easing inflation expectations. Meanwhile, Critical Metals surged 35% following a strategic Greenland pact.
The dollar index gained strength following hawkish comments from Boston Fed President Susan Collins and Richmond Fed President Tom Barkin, who warned that inflation pressures may remain elevated.
The stock surged following the announcement of a new pact in Greenland, which investors view as a significant opportunity for the company's Tanbreez project.