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AUD/USD retreats from four-month highs after higher Unemployment Rate
The AUD/USD snapped its three-day winning streak, trading around 0.6680 after the higher-than-expected Aussie Unemployment Rate on Thursday, which rose to 4.1% in April from the previous reading of 3.9%.
USD/JPY trims losses below 154.50 following Japan’s GDP data
USD/JPY trims losses near 154.45 during the Asian session on Thursday. The softer US CPI inflation data has exerted some selling pressure on the US Dollar. However, the major pair recovers modestly following the recent weaker-than-expected Japan’s Gross Domestic Product in the first quarter of 2024.
Gold price jumps as US CPI inflation fuels Fed rate cuts
Gold price gains traction amid the weaker US Dollar on Thursday. The recent Consumer Price Index report showed inflation in the US slowed in April, prompting market players to increase their bets on the US Federal Reserve rate cuts this year.
DOGE’s 15% upside potential hinges on Bitcoin holding above $65K
Dogecoin price is trading with a bullish bias, leading meme coins north as sector bulls resurface. This show of hand comes after Bitcoin price broke past the $65,000 threshold and could extend if the pioneer cryptocurrency holds above this level.
Dow Jones Industrial Average soars 350 points, sets new all-time high as rate cut hopes surge
The Dow Jones Industrial Average clipped into a fresh all-time high on Wednesday, gaining almost nine-tenths of a percent during the US market session after US Consumer Price Index inflation slipped further back.