Bond Market

AUD/USD remains supported after a sharp fall in the US dollar, with traders watching whether price can clear the 0.7130 area. The pair’s bullish structure is intact, although Australian labor market weakness may limit the Aussie’s relative appeal.

Silver has staged a notable weekly rebound after heavy selling earlier in the month, but the macro backdrop remains difficult. A firmer dollar, tighter policy pricing and inflation sensitive oil conditions leave XAGUSD exposed to a pivotal sequence of Fed, PCE and wage catalysts.

A sharp flattening in the U.S. Treasury yield curve is pointing to a more hawkish Fed and a longer period of elevated borrowing costs. That backdrop could keep pressure on Bitcoin as investors weigh yield-bearing assets against non-yielding crypto.