AUD/USD: Chinese outlook suggests there is risk of dips to 0.62 on a 3-month view – Rabobank

Matías Salord FXStreet

AUD/USD is headed toward its lowest daily close since November, trading below 0.6400. Analysts at Rabobank are cautioning that the decline could potentially extend to 0.62 on a three-month perspective.

Key quotes:

The worsened growth outlook for the world’s second economy is being reflected in downside pressure on the AUD, despite the fact that the price of iron ore has been holding up well and irrespective of the strength of Australia’s trade balance.

Concern over the Chinese economic outlook suggests there is risk of dips to the AUD/USD 0.62 area on a 3-month view. However, we see the relative strength of Australian fundamentals as suggesting a recovery back to 0.70 on a 12-month view.

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

AUD/USD turns lower toward 0.7000 after mixed Australian jobs data

AUD/USD is losing ground toward 0.7000 in the Asian session on Thursday, following the release of the Australian August jobs report, which showed that the Unemployment Rate rose to 4.6% versus 4.5% expected, while Employment Change beat estimates, arriving at 39.5K. Traders also remain unnerved ahead of the critical Trump-Xi meeting.

USD/JPY keeps the red near 158.00 as Japanese Yen firms up

USD/JPY retreats from three-week highs and holds losses near 158.00 in the Asian session on Thursday. Surging Japanese bond yields lift the Yen amid looming intervention risks, while the US Dollar preserves overnight gains to a two-month high amid hawkish Fed bets and elevated US bond yields.

Gold braces for two-way risks as Trump-Xi meeting looms

Gold is consolidating the previous decline in Thursday’s Asian trades, at weekly lows below $4,300, awaiting the highly anticipated meeting between US President Donald Trump and his Chinese counterpart Xi Jinping later in the day.

Bitcoin slips to $84,000 on rate hike bets – Worldcoin, Pepe lead losses

Bitcoin (BTC) price trades below $84,000 on Thursday, extending losses after a 2% decline the previous day. The pullback aligns with renewed inflation and rate-hike concerns, as US composite and services PMIs rose to 58.4 and 58.7 in September. Worldcoin (WLD) and Pepe (PEPE) recorded double-digit losses over the last 24 hours, emerging as the worst performers.

US Treasury Secretary Bessent says US-China trade truce extended through January 10

US Treasury Secretary Scott Bessent said that the United States and China have agreed to extend a bilateral trade truce that was set to expire in November through January 10, Blomoberg reported on Wednesday. This move came after Bessent and China’s Vice Premier He Lifeng held an unscheduled meeting in Washington.

BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.