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AUD/USD hangs near multi-year low as traders await US NFP report
AUD/USD consolidates just above its lowest level since October 2022 as traders move to the sidelines ahead of Friday's release of the closely-watched US NFP report. In the meantime, rising bets for an early RBA rate cut, China's economic woes, US-China trade war fears, geopolitical risks and a softer risk tone act as a headwind for the Aussie.
USD/JPY bulls turn cautious near multi-month peak ahead of US NFP
USD/JPY moves little following the release of household spending data from Japan and remains close to a multi-month top amid wavering BoJ rate hike expectations. Furthermore, the recent widening of the US-Japan yield differential, bolstered by the Fed's hawkish shift, undermines the lower-yielding JPY and acts as a tailwind for the currency pair amid a bullish USD.
Gold price consolidates below multi-week top; looks to US NFP for fresh impetus
Gold price enters a bullish consolidation phase below a four-week top touched on Thursday as bulls await the US NFP report before placing fresh bets. In the meantime, geopolitical risks, trade war fears and a weaker risk tone might continue to act as a tailwind for the safe-haven XAU/USD.
Crypto Today: BTC traders hold $90K support as SUI, LTC, TIA see green
The cryptocurrency market’s losing streak entered its third day; aggregate market cap declined 10.9% to hit $3.1 trillion. Bitcoin price stabilized around the $91,800 area as bulls moved to avoid further downside.
How to trade NFP, one of the most volatile events Premium
NFP is the acronym for Nonfarm Payrolls, arguably the most important economic data release in the world. The indicator, which provides a comprehensive snapshot of the health of the US labor market, is typically published on the first Friday of each month.
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