Jobless Claims

Gold briefly jumped after softer policy expectations emerged, but the move quickly faded as the dollar and Treasury yields recovered. FXCOINZ examines why bullion’s failure to hold bullish momentum has become the central signal for traders.

AUD/USD has extended its advance to its highest level since May 29, supported by expectations of possible policy divergence between the Reserve Bank of Australia and the Federal Reserve. Technical traders are watching 0.7280 as the next upside target, while a move below 0.7100 would weaken the bullish case.

AUD/USD has climbed to 0.7187, its strongest level since May 29, as traders weigh possible RBA and Fed policy divergence. The bullish setup remains focused on 0.7280, while a break below 0.7100 would weaken the near-term outlook.

The Nasdaq Composite is sitting near a key technical area after settling on the strong side of its 50-day moving average and inside a short-term retracement zone. Chip weakness, upcoming retail sales and jobless claims data, and the Netflix report after the close are shaping the next move for US technology shares.