Australian Dollar resumes advance as US Dollar loses post-NFP momentum
AUD/USD resumes its advance on Friday after a brief bout of weakness following a stronger-than-expected United States (US) employment report.
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AUD/USD resumes its advance on Friday after a brief bout of weakness following a stronger-than-expected United States (US) employment report.

EUR/USD sees sharp two-way price swings on Friday after a stronger-than-expected United States (US) employment report triggers fresh volatility. The pair initially fell to an intraday low of 1.1585 before recovering as the US Dollar (USD) struggled to sustain its gains.

The AUD/USD pair gathers strength to near 0.7210 during the early European session on Friday. The US Dollar (USD) weakens against the Australian Dollar (AUD) following Federal Reserve (Fed) Governor Christopher Wallers remarks.

USD/IDR gains ground after two days of losses, trading around 17,670 during the Asian hours on Friday. The currency pair is pushing higher as the US Dollar (USD) holds onto its recent gains after rebounding from intraday losses.

USD/CHF gains ground after registering losses in the previous day, trading around 0.8080 during Asian hours on Friday.

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – trades below the $90.00 mark during the Asian session on Friday and remains close to its highest level since July 24, touched earlier this week.

The AUD/JPY cross trades in positive territory near 112.80 during the early European trading hours on Friday. However, the potential upside for the cross might be limited as traders ramped up bets on a Bank of Japan (BoJ) interest rate hike, boosting the Japanese Yen (JPY).

EUR/JPY gains ground after two days of losses, trading around 181.50 during the Asian hours on Friday. Technical analysis of the daily chart indicates the currency cross remains within the descending channel pattern, signalling a bearish bias.

The USD/JPY pair enters a bearish consolidation phase during the Asian session on Friday and currently trades near the 155.75 region, nearly unchanged for the day.

The EUR/USD pair trades on a flat note around 1.1625 during the early Asian session on Friday. Traders prefer to wait on the sidelines ahead of the US key employment report for August, which will be published later on Friday.

Reserve Bank of New Zealand (RBNZ) Monetary Policy Committee member Carl Hansen said on Thursday that future monetary policy moves hinge on trends across broad economic data sets.

Gold price (XAU/USD) gains momentum to around $4,470 during the early Asian session on Friday. The precious metal extended its recovery as Federal Reserve (Fed) rate hike bets ease. All eyes will be on the US August Nonfarm Payrolls (NFP) report, which is due later on Friday.

The Australian Dollar rises against the US Dollar on Thursday as Fed Governor Waller turns moderately dovish ahead of the September meeting, even as Oil prices rise due to a resumption of hostilities in the Middle East. The AUD/USD trades at 0.7200, up 0.44%.

Silver price advances by some 2.45% on Thursday, boosted by dovish comments from Fed Governor Waller, which pushed the US Dollar and US Treasury yields lower. The XAG/USD trades at $66.90, after reaching a high of $67.48.

Commerzbanks Singapore-based team highlights robust Singapore manufacturing and electronics PMIs, supported by an AI-driven semiconductor cycle, alongside upgraded MAS Survey GDP and export forecasts.

Pairs on Watch - FX:AUDUSD : Currently long in a position on this pair, executed on the 15M with a reduce risk entry earlier this morning. We have had some development after I was tagged in, but stop loss is protected and enough confluences align for the long move. I will be monitoring this to see how price reacts where it currently is, managing to the 3% area and if the DXY breaks lower, we could see a great run to the upside on this pair. FX:GBPNZD : Very simple setup on this pair now …

The Euro (EUR) trades slightly higher against the US Dollar (USD) at around 1.1600 during the early European trading session on Thursday.

The GBP/JPY cross remains under intense selling pressure for the second straight day and drops to a three-and-a-half-week low, around the 212.75-212.70 region during the Asian session on Thursday.

The USD/JPY pair attracts some sellers to near 158.15 during the Asian trading hours on Thursday. The Japanese Yen (JPY) strengthens against the US Dollar (USD) following hints from Japanese policymakers that interest rates will rise later this month.

The NZD/USD pair recovers some lost ground to near 0.5860, snapping the four-day losing streak during the early Asian session on Thursday. The New Zealand Dollar (NZD) strengthens against the US Dollar (USD) following the upbeat Chinese economic data.