The AUD/USD currency pair rose for the third consecutive day on Wednesday, breaking above the 0.6200 barrier. The ongoing recovery in the pair reflects short-term market dynamics, with immediate resistance expected around the 0.6300 level. This development comes as market participants await the Australian jobs report, scheduled for release on Thursday.
In parallel, the EUR/USD pair maintained stability around 1.0295 during the early Asian session on Thursday. This steadiness highlights a cautious environment as traders digest recent economic data, including the cooler-than-expected US Consumer Price Index (CPI) inflation figures for December.
The unexpected CPI data has sparked speculation that the US Federal Reserve might implement two interest rate cuts this year. Such potential cuts weigh heavily on the US Dollar, influencing currency market behavior and offering support to other major currency pairs, such as the AUD/USD.
In another sector of financial markets, HDR Global Trading Limited, which operates the crypto exchange BitMEX, faced a significant setback. The company was fined $100 million by a US District Court for violations of the Bank Secrecy Act and Anti-Money Laundering regulations. This penalty underscores the growing scrutiny and regulatory challenges within the cryptocurrency industry.
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