Gross Domestic Product

AUD/USD fell to 0.6985, its weakest level since July 30, as a stronger US dollar and rising US yields outweighed another Reserve Bank of Australia rate hike. Technical traders are watching whether the pair can stabilize above 0.6900 or extend its latest bearish break.

The Nasdaq recovered near its 50 day moving average as lower yields and renewed chip demand supported risk appetite. Traders now face a critical test from PCE inflation, second quarter GDP and Nvidia earnings, while weak consumer confidence and retail selling complicate the rebound.

EUR/USD edged higher to trade around 1.1400, staying above this week’s low of 1.1353 as markets assessed geopolitical risk and the upcoming Federal Reserve decision. Traders are watching whether a hawkish pause, inflation data and technical resistance near 1.1483 can shape the next move.