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The above chart shows hourly price action. Key support may potentially be at the confluence of factors including the S1 pivot level and price congestion support (green rectangle). The stochastic has moved to potentially buyer friendly levels (green ellipse). A pullback in the S&P 500 may create a “buy the dip in an uptrend” opportunity.
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AUD/USD rises back above 0.6500 after hawkish RBA Bullock's comments
AUD/USD edges higher to regain 0.6500 in Asian trading on Friday. The pair capitalizes on upbeat Australian Private Capex data for October and hawkish comments from RBA Governor Bullock. A broadly muted US Dollar also aids the Aussie's uptick amid light trading.
USD/JPY extends sell-off to near 150.00 after hot Tokyo CPI
USD/JPY extends sell-off to test 150.00 in Friday's Asian session following the release of hotter-than-expected November inflation figures from Tokyo, Japan’s capital. The data strengthens the case for another BoJ rate hike in December, sending the Japanese Yen through the roof.
Gold price holds steady as traders seem non-committed amid mixed cues
Gold price oscillates in a range during the Asian session on Friday, awaiting a fresh catalyst before the next leg of a directional move amid mixed fundamental cues. Bets that the Fed might be cautious about further rate cuts trigger a modest recovery in the US bond yields and act as a tailwind for the USD, capping the non-yielding yellow metal.
Crypto Today: BTC climbs to $97K, SHIB demand dips, TON lifted by Tornado Cash verdict
Bitcoin price rose 4% on Thursday, breaching the $97,000 mark after opening at $91,947 on Wednesday. Amid the BTC rally, privacy-inclined projects like Monero (XMR) and Toncoin (TON) received a major boost alongside crypto AI coins such as Render (RNDR) and Artificial Super Intelligence Alliance, (FET).
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
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