Asian Session: Live Market Analysis

AUD/USD consolidates above 0.7100 during the Asian session on Thursday and remains close to a three-year peak amid bets for another RBA rate hike in 2026, bolstered by the latest Australian consumer inflation figures released the previous day. Moreover, a softer US Dollar and a positive risk tone act as a tailwind for the Aussie, though trade uncertainties seem to act as a headwind for spot prices.

USD/JPY extends the previous day's late pullback from a two-week high and drifts lower during the Asian session on Thursday, as intervention fears offer some support to the Japanese Yen. The US Dollar, on the other hand, remains on the back foot amid concerns about the fallout from Trump's trade policies, which weigh on the currency pair. However, the uncertainty over the pace and timing of the next BoJ rate hike could limit JPY gains and cap the currency pair.

Gold attracts some buyers for the second straight day as trade jitters and geopolitical tensions ahead of the US-Iran nuclear talks underpin demand for safe-haven assets. Apart from this, a softer US Dollar further supports the bullion, though the underlying bullish sentiment could cap gains. Bulls might also opt to wait for acceptance above the $5,200 mark before positioning for any meaningful appreciating move.

The Financial Conduct Authority in the United Kingdom is advancing toward the final stablecoin regulatory framework with a pilot program involving four companies, including Monee, Financial Technologies ReStabilise, Revolut and VVTX.

It was another monster earnings report from Nvidia for fiscal Q4. Revenues were $68.1bn, smashing estimates of $65bn. Gross profit margin was a healthy 75%, up from 73.5% in the prior quarter, and the outlook for this quarter was monstrous.

The Australian Dollar (AUD) skyrocketed to near a two-week high after a hotter-than-expected January inflation report, fueling speculation of additional rate hikes by the Reserve Bank of Australia (RBA).