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AUD/USD turns south to test 0.6650 as US Dollar finds footing
AUD/USD is back in the red, testing 0.6650 in Friday's Asian trading. A renewed US Dollar uptick undermines the pair, even as risk sentiment remains in a sweeter spot. However, the downside appears limited amid the RBA's hawkish stance and hopes for more Chinese stimulus could act as a tailwind for the Aussie.
USD/JPY defends gains above 153.00 as Japan's intervention risks cap gains
USD/JPY defends minor bids above 153.00 early Friday, reversing a part of Thursday's corrective slide from its highest level since July 30. The upbeat market mood and the post-Fed US Dollar rebound support the pair but speculations over a likely Japanese intervention cap the pair's upside.
Gold price consolidates around $2,700 amid mixed cues
Gold price hovers around $2,700 in the Asian session on Friday, failing to extend the recovery from the vicinity of the 50-day SMA support, or over a three-week low. Resurgent demand for the US Dollar, despite improving risk tone, induces fresh weakness in Gold price.
Bitcoin, crypto market remain in uptrend following 25 bps Fed rate cut
The crypto market has remained in the green following the Federal Reserve's decision to lower interest rates. Historically, Bitcoin and the crypto market have reacted positively to low interest rate environments.
Outlook for the markets under Trump 2.0
On November 5, the United States held presidential elections. Republican and former president Donald Trump won the elections surprisingly clearly. The Electoral College, which in fact elects the president, will meet on December 17, while the inauguration is scheduled for January 20, 2025.
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