Gold Analysis: Support at 1195.50/1187.50, resistance at 1210/1218.60

AUD/USD holds steady around mid-0.7000s during the Asian session on Friday, just above a nearly two-week low touched the previous day, as traders keenly await the release of the Advance Q4 US GDP and the US PCE Price Index. The crucial data would provide more cues about the Fed's rate-cut path, which will drive the US Dollar and the currency pair. In the meantime, the RBA's hawkish stance might continue to act as a tailwind for the Aussie, though a softer risk tone acts as a headwind.

USD/JPY attracts some dip-buying following the release of Japan's soft consumer inflation figures, which tempers bets for an immediate BoJ rate hike and weighs on the Japanese Yen amid fiscal concerns. Apart from this, a bullish US Dollar keeps spot prices close to over a one-week top. However, a slight deterioration in the global risk sentiment might cap gains. Traders now look to the US Q4 GDP report and the crucial PCE Price Index for cues about Fed policy outlook amid rising bets for more rate cuts, which will drive the US Dollar and provide a fresh impetus to the currency pair.

Gold price holds positive ground near $5,000 during the early Asian session on Friday. The precious metal edges higher as escalating tensions between the United States and Iran boost safe-haven demand. Traders brace for the preliminary reading of US Gross Domestic Product for the fourth quarter, the Personal Consumption Expenditures and the S&P Global Purchasing Managers Index data, which are due later on Friday.

Ethereum network growth has declined after two months of explosive increase. US selling pressure has eased following an improvement in the Coinbase Premium Index. ETH extends its range-bound move below the $2,107 resistance and above $1,740 .

It was green across the board for US Stock market indexes at the close on Wednesday, with most S&P 500 names ending higher, adding 38 points (0.6%) to 6,881 overall. At the GICS sector level, energy led gains, followed by technology and consumer discretionary, while utilities and real estate posted the largest losses.

The number of United States (US) citizens submitting new unemployment insurance applications decreased to 206K, much lower than initial estimates of 225K, and down from the previous week’s revised 229K, according to the US Department of Labor.