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AUD/USD: Further range bound should not be ruled out
AUD/USD managed to regain the smile and challenged the key 0.6500 hurdle on the back of the knee-jerk in the US Dollar and ahead of key data releases in Australia and the US labour market.
USD/JPY remains close to a near two-month low touched on Tuesday
USD/JPY struggles to attract meaningful buyers on Wednesday and languishes near its lowest level since October 11 touched the previous day as bets for a December BoJ rate hike underpin the JPY. Meanwhile, the USD draws support from expectations for a less dovish Fed and acts as a tailwind for the pair.
Gold keeps struggling for direction
Following Monday's retreat, Gold stabilizes and trades in a narrow band below $2,650. The benchmark 10-year US Treasury bond yield stays flat near 4.2% ahead of Fedspeak, making it difficult for XAU/USD to gather directional momentum.
Australia GDP growth set to accelerate slightly in Q3, dashing hopes of imminent RBA rate cut
Australian Gross Domestic Product is foreseen to be up by 1.1% in Q3 compared with the same quarter a year earlier. The Reserve Bank of Australia will likely maintain the OCR on hold until later in 2025. The Australian Dollar advances against its United States rival, sellers waiting for better levels.
The fall of Barnier’s government would be bad news for the French economy
This French political stand-off is just one more negative for the euro. With the eurozone economy facing the threat of tariffs in 2025 and the region lacking any prospect of cohesive fiscal support, the potential fall of the French government merely adds to views that the ECB will have to do the heavy lifting in 2025.
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