Sterling in focus as Gold remains weak, Ethereum-led crypto bounce [Video]
Author

Kim Cramer Larsson
KCL Consult
Kim Cramer Larsson hosts the Daily Technical Update, a daily 15-20 minutes video with live charts.
Author

Kim Cramer Larsson
KCL Consult
Kim Cramer Larsson hosts the Daily Technical Update, a daily 15-20 minutes video with live charts.
AUD/USD regains traction and extends the previous day's bounce from the weekly low, aiming for 0.7000 in Asia on Friday. The overnight pullback in US bond yields keeps the US Dollar below an 18-month high, which in turn offers some support to the pair. Meanwhile, hawkish RBA expectations also keep the major underpinned.
USD/JPY clings to gains around 158.00 after data showed on Friday that Japan's Household Spending fell for the ninth straight month, undermining the Japanese Yen. Meanwhile, the US Dollar remains depressed as the overnight fall in US bond yields counters a hawkish Fed and geopolitical uncertainties, could cap any downside in the pair.
Gold holds firm, revisiting $4,200 on Friday, extending recovery from two-month lows. US Dollar eases in tandem with Oil prices and Treasury yields, awaiting US sentiment data. The tide seems to be turning in favor of Gold, but the daily RSI is still bearish.
Statistics Canada will release its September Labour Force Survey on Friday, with markets anticipating a modest recovery in employment following August's sharp decline. The report takes on particular importance as it will be the first to fully reflect the impact of new United States tariffs that took effect on August 22.

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