Key resistance on the test and potential for the further drop.
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AUD/USD stays weak below 0.6600 on US Dollar demand
AUD/USD is trading on the back foot below 0.6600 in Asian trading on Monday. The pair shrugs off China's stimulus optimism and a risk-on mood, as the US Dollar remains in demand and drags it lower amid a quiet start to a big week.
USD/JPY pares gains to near 153.50 amid Japanese political uncertainty
USD/JPY retreats to near 153.50 early Monday after rallying hard to 153.90. The Japanese Yen fell to a fresh three-month low against its American counterpart after Japan’s longtime ruling party lost its majority for the first time in 15 years at Sunday's national election.
Gold buyers turn cautious, as a Big week kicks in
Gold price has lost its two-day recovery momentum, trading below $2,750 amid a quiet start to a big week on Monday. Gold buyers did find acceptance above the $2,740 static resistance on Friday but the further upside appears elusive on resurgent US Dollar demand.
Bitcoin $66,000 support remains strong
Bitcoin found support around its crucial level of $66,000, suggesting a potential recovery. However, Ethereum and Ripple show signs of weakness, and a close below their key support levels would continue their ongoing decline.
US elections: The race to the White House tightens
Trump closes in on Harris’s lead in the polls. Neck and neck race spurs market jitters. Outcome still hinges on battleground states.
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