Today's Market Movers

Market Overview

Australian wage growth holds steady at 0.8%, falling short of the forecasted uptick. Attention now turns to tonights inflation report from the FED, which could shift expectations for a December rate cut. The “Trump trade” effect suggests stronger domestic production and reduced imports under tariffs.

Currently, CME Group's FedWatch Tool indicates a 60% likelihood of a December rate cut, a notable drop from last month's 84%.

Market Analysis

Gold - Spot GOLDs bearish trend extends; MACD hints at a bullish pullback but remains pressured by anticipated inflation from tariffs, strengthening the dollar.

Silver - Pulling back, though selling pressure remains despite RSI and MACD showing bullish signs.

DXY - Dollar strengthens on perceived policy risks; further selling is expected ahead of CPI data.

GBPUSD - Bearish continuation with minor resistance, with CPI data expected to affect trends.

AUDUSD - Divergence hints at possible consolidation until CPI clarifies rate cut expectations.

NZDUSD - RSI hints at a bullish pullback amid ongoing bearish momentum.

EURUSD - Weak, with limited bullish pullback potential; outlook remains bearish.

USDJPY - Yen upward momentum continues; indicators support further buying.

USDCHF - Franc rises but lacks upward strength; a pullback is possible.

USDCAD - CAD shows pullback potential as MACD crosses low, awaiting CPI influence.