Currencies Tread Water Ahead of Jobs Data; Gold Holds Gains Above $2,100
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Major currency pairs fluctuating in familiar ranges early Tuesday ahead of key economic data and events later this week like US jobs report on Friday.
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Gold rally extended to fresh 2024 high above $2,100 on Monday, now consolidating gains above $2,110 as bulls await more signals on Fed rate cut outlook.
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Tokyo CPI jumped to 2.6% yearly in February from 1.8% in January, but USD/JPY unchanged around 150.50 as yen bulls shrug off data.
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China expected to set conservative 2024 growth target of 5% according to reports, weighing on risk-sensitive AUD/USD.
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GBP/USD positive last two days but reversed course after hitting resistance around 1.2700, now edging lower toward 1.2670.