MONTHLY WEBINAR: Market Timing in Forex for Short-term Income and Long-term Wealth - Part II

AUD/USD adds to Tuesday’s uptick and approaches the key 0.6700 barrier as the NA session draws to a close, all amid the pronounced retracement in the US Dollar following the Fed’s interest rate cut. Next of note in Oz will be the release of the November jobs report.

EUR/USD rapidly leaves behind four consecutive daily pullbacks, challenging the 1.1700 hurdle in response to the severe sell-off in the Greenback as investors continued to evaluate the Fed’s rate cut and the neutral message from Chief Powell. Next on tap on the docket will be the weekly US labour market report on Thursday.

Gold prices are up after the US central bank's monetary policy announcement, trading around $4,230 as Asian traders reach their desks. A better market mood limits demand for the safe-haven metal, but broad US Dollar weakness skews the risk to the upside. 

Bitcoin digital asset treasuries are returning to action following a slight recovery in the top crypto. American Bitcoin, co-founded by the Trump brothers, acquired 416 BTC, worth about $38.5 million, since its last update on December 2. The purchase has pushed the company's total holdings to 4,783 BTC as of December 8, making it the 22nd-largest BTC treasury, behind ProCap Financial, according to Bitcoin Treasuries data.

The Federal Open Market Committee’s (FOMC) latest dot plot, released on Wednesday, indicates that interest rates will average 3.4% by the end of 2026, in line with the September projection.

The US Dollar (USD) sold off sharply on Wednesday, as investors continued to digest the largely anticipated rate cut by the Federal Reserve, while the updated “dots plot” surprised no one.