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AUD/USD is holding lower ground near 0.6350 in Asian trading on Thursday. The downbeat Australian jobs data fans RBA rate cut bets, maintaining the downward pressure on the pair. US-China trade tensions and US Dollar recovery act as a headwind for the pair. 

USD/JPY fades the impressive rebound from seven-month lows of 141.61, falling back toward 142.00 in the Asian session on Thursday. The pair tracks the US Dollar price action, fuelled by contrstructive trade talks between the US and Japan. A tepid risk recovery supports the pair. 

Gold price retreats from a fresh all-time peak of $3,358 reached earlier in the Asian session on Thursday. Despite the pullback, tariff uncertainty, the escalating US-China trade war, global recession fears, and expectations of more aggressive Fed easing will likely cishion the Gold price downside. 

Ethereum declined 1%, trading just below $1,600 in the early Asian session on Thursday, as Binance Research's latest report suggests that the data availability roadmap has been hampering its value accrual.

It does seem like we will be talking tariffs for a while. And if tariffs stay — in some shape or form — even after negotiations, we’ll likely be talking about recession too. Higher input costs, persistent inflation, and tighter monetary policy are already weighing on global growth. 

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