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AUD/USD holds positive ground above 0.6900 ahead of Chinese PMI data
The AUD/USD pair extends its upside to around 0.6910 during the early Asian session on Monday. The rising bets for another oversized interest rate cut by the Federal Reserve in November weigh on the US dollar. The Chinese Purchasing Managers Index reports for September are due later on Monday.
EUR/USD: Buyers maintain the pressure ahead of critical US employment data
The EUR/USD pair ended a mostly uneventful last week trading near the 1.1200 mark, still battling to conquer the level. It managed to post a fresh 2024 high of 1.1213 mid-week, but sellers around it have rejected EUR/USD once again.
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Gold: Prospects of Fed rate cuts, geopolitical tensions underpin bullish impulse
Gold clinched its third consecutive week of gains, reaching a fresh all-time high on Thursday. If bullish momentum persists, immediately to the upside emerges the $2,700 mark. Fed rate cut bets, geopolitical tensions continue to support the yellow metal.
Week ahead: NFP on tap amid bets of another bold Fed rate cut
Investors see decent chance of another 50bps cut in November. Fed speakers, ISM PMIs and NFP to shape rate cut bets. Eurozone CPI data awaited amid bets for more ECB cuts. China PMIs and BoJ Summary of Opinions also on tap.
Bitcoin holds steady above $65,000 as decade old whale wallet activates
Bitcoin (BTC) whale wallets from the time when creator Satoshi was still online have recently noted activity. Miner wallets from this era and whale wallets from nearly 11 years ago either transferred funds or took profits on their holdings in September.