NEWS | 05/07/2025 22:43:42 GMT
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By FXStreet Team
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Editors’ Picks
AUD/USD bulls seem reluctant amid mixed fundamental cues
AUD/USD stalls the previous day’s sharp retracement slide from the YTD peak as the USD struggles to capitalize on hawkish Fed-inspired gains. Furthermore, a generally positive risk tone lends some support to the Aussie, though fading hopes for a quick resolution to the US-China trade war could act as a headwind for the currency pair.
USD/JPY remains confined in a range below 144.00 after BoJ minutes
USD/JPY consolidates the previous day’s goodish rebound from the weekly low and trades below the 144.00 mark on Thursday amid subdued USD demand, despite the Fed’s hawkish pause. Persistent trade-related uncertainties and geopolitical risks underpin the JPY on the back of bets that the BoJ will hike rates again in 2025.
Gold price regains positive traction amid reviving safe-haven demand
Gold price attracts fresh buyers on Thursday and reverses a part of the previous day’s retracement slide from a two-week high. The initial reaction to the Fed’s hawkish pause on Wednesday was short-lived amid the heightened economic uncertainty over Trump’s trade policies, keepingthe USD bulls on the defensive.
Bitcoin, crypto market unfazed as Fed holds interest rates steady
Bitcoin saw a 2% gain on Wednesday following the Federal Reserve’sdecision to keep rates at 4.25% – 4.50%. Fed Chair Jerome Powell shared that the Federal Open Market Committee will continue to observe economic developments, highlighting that it is still unsafe to reach a conclusion on policy changes.
FOMC’s holding pattern continues
As universally expected, the Federal Open Market Committee (FOMC) decided at the conclusion of its meeting today to keep the target range for the federal funds rate unchanged at 4.25%-4.50%.
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