Trading news

Australia Part-Time Employment fell from previous 35.5K to 6.3K in September

Australia Unemployment Rate s.a. above forecasts (4.3%) in September: Actual (4.5%)

Australia Employment Change s.a. came in at 14.9K, below expectations (17K) in September

Australia Full-Time Employment increased to 8.7K in September from previous -40.9K

Australia Participation Rate came in at 67%, above expectations (66.8%) in September

Gold price (XAU/USD) attracts some buyers to around $4,210 during the early Asian session on Thursday. The precious metal rises to near a fresh all-time high as US rate cut expectations and trade tensions continue to boost demand for the safe-haven assets.

Japanese Finance Minister Katsunobu Kato said on Thursday that he will monitor for excessive fluctuations and disorderly movements. 

Japan Machinery Orders (MoM) came in at -0.9% below forecasts (0.5%) in August

Japan Machinery Orders (YoY) registered at 1.6%, below expectations (4.8%) in August

GBP/USD found room on the high side on Wednesday, clawing its way back to the 1.3400 handle after a near-term dip into the low end that saw Cable briefly battle the 200-day Exponential Moving Average (EMA) near 1.3290.

The USD/JPY pair tumbles to around 150.85 during the early Asian session on Thursday. The US Dollar (USD) weakens against the Japanese Yen (JPY) due to the continuing trade tensions between the US and China.

EUR/USD traded with gains on Wednesday, up by 0.35% and above the 1.1600 figure for the second straight day as the Greenback is pressured by firm expectations of rate cuts by the Federal Reserve and the escalation of the trade-war between the US and China.

Australia National Australia Bank's Business Confidence (QoQ): 7 (3Q) vs -1

Australia is set to publish the September monthly employment report on Thursday at 0:30 GMT, with market participants anticipating another tepid outcome, which has become the norm over the last few months.

Gold (XAU/USD) price rallies for the fourth consecutive trading day on Wednesday, up by more than 1.40% and hitting a record high of $4,218 as the trade-war escalates and geopolitical uncertainty pushes investors to the safe-haven metal.

The US Dollar (USD) added to its weekly correction, briefly slipping back to multi-day lows on the back of the renewed offered stance, a better tone in the risk complex and persistent bets on rate cuts by the Fed in the latter part of the year.

The New Zealand Dollar (NZD) remains on the defensive against the US Dollar (USD) on Wednesday, extending its losing streak to a seventh consecutive session as investors continue to punish the Kiwi despite a broadly weaker Greenback.

The Dow Jones Industrial Average (DJIA) found room on the high side on Wednesday, climbing into a second day of recovery flows and testing territory north of 46,600 before settling back to flat for the day.

Silver (XAG/USD) resumes its rally on Wednesday, trading around $52.40 per troy ounce at the time of writing, up 2.40% on the day, as investors seek safety amid renewed global tensions and growing expectations of additional monetary easing by the US Federal Reserve (Fed).

Federal Reserve Governor Stephen Miran spoke at the Nomura Research Forum in Washington, DC. He stated that AI investment could lead to a higher neutral interest rate, and that recent policy changes, including immigration, have resulted in rapid shifts in the neutral rate.