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AUD/USD holds losses toward 0.6850 on mixed Aus trade data, Mideast woes
AUD/USD is holding the renewed downside toward 0.6850 early Thursday, reeling from mixed Australian Trade Balance data. Escalating Middle East geopolitical tensions keep the US Dollar underpinned, maintaining the additional bearish pressure on the pair. US data next on tap.
USD/JPY pares gains below 147.00 on BoJ's rate uncertainty
USD/JPY is paring back gains below 147.00 in Asian trading on Thursday. The Japanese Yen received a fresh lift after Japan's official clarified that PM Ishibu did not offer any special policy request from BoJ Governor Ueda on Wednesday. A fresh batch of US data is awaited.
Gold price extends the range play below record high, bulls not ready to give up yet
Gold price remains on the defensive during the Asian session on Thursday amid a stronger US Dollar, which continues to draw support from diminishing odds for a more aggressive policy easing by the Federal Reserve.
Middle East caution continues to grip investors
US stocks bounced off geopolitical-driven lows, finding under-the-hood support in the ADP jobs report. However, with tensions in the Middle East still bubbling, US port workers on strike, and global industrial giants battling economic headwinds, the last quarter of 2024 is starting to look much more turbulent than the relatively smooth sailing we saw in the first three quarters.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.