AUD/USD sticks to upbeat Aussie jobs data-led strong gains near 5-week tops

Haresh Menghani FXStreet

• Strong Aussie jobs report provides an additional boost.
• In-line Chinese macro data remain supportive.
• A renewed uptick in the US bond yields might cap additional gains.

The AUD/USD pair continued gaining positive traction for the fourth consecutive session and jumped to over one-month tops on Thursday.

The pair extended its recent recovery move and got an additional boost from today's stronger-than-expected Aussie jobs data, which showed that the number of employed people rose by 61.6K during November.

Against the backdrop of post-Fed US Dollar slump, solid employment details helped the pair to build on overnight strong up-move beyond the 0.7600 handle.

Meanwhile, the pair had a muted reaction to heavyweight Chinese macro data, which were mostly in line with consensus estimates and remained supportive of the strong bid tone surrounding the China-proxy Australian Dollar.

It would now be interesting to see if bulls are able to maintain their dominant position or the upward trajectory runs out of steam ahead of the very important 200-day SMA amid a goodish pickup in the US Treasury bond yields, which tends to drive flows away from higher-yielding currencies - like the Aussie.

Moving ahead, traders now look forward to the US economic docket, featuring the release of monthly retail sales and the usual initial jobless claims, for some fresh trading impetus.

Technical levels to watch

Any subsequent up-move is likely to confront strong hurdle near the 0.7690 region (200-day SMA), above which a fresh bout of short-covering could lift the pair towards 0.7720-30 supply zone.

On the flip side, the pair now seems to find immediate support near mid-0.7600s, which if broken might prompt a profit-taking slide towards the 0.7600 handle en-route 0.7565-60 strong horizontal support.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.