Managing Risk Investable

AUD/USD remains defensive near 0.6700 in the late Asian session on Friday, little impressed by the mixed inflation figures from China. The focus now remains on the US NFP report, which will influence the Fed's rate-cut path and drive the US Dollar, eventually impacting the major. 

USD/JPY is hovering near the top end of its weekly range, above 157.00 early Friday. The pair cheers renewed US Dollar demand ahead of the US Nonfarm Payrolls data. Meanwhile, the intensifying China-Japan trade row over rare-earth exports weighs negatively on the Japanese Yen, adding to the pair's upside. 

Gold is battling a critical resistance just under the $4,500 threshold early Friday, having closed well above the $4,450 barrier on Wednesday. The next big in Gold now hinges on the US Nonfarm Payrolls data and the Supreme Court ruling on President Donald Trump’s tariff powers.

Bitcoin, Ethereum, and Ripple steadied above key support levels on Friday after being rejected at mid-week resistance zones. The short-term recovery prospects remain intact if the top three cryptocurrencies by market capitalization hold these support zones.

Most years fade into the background as soon as a new one starts. Not 2025: a year of epochal shifts, in which the macroeconomy was the dog that did not bark. What to expect in 2026? The shocks of 2025 will not be undone, but neither will they be repeated.

The US Dollar (USD) posted decent gains, enough to maintain its optimism unchanged so far this year. Meanwhile, market participants remained cautious ahead of the release of the critical US labour market report at the end of the week.