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AUD/USD consolidates below 0.7050; looks to US NFP amid Iran risks

AUD/USD trades with caution below 0.7050 in the Asian session on Friday, as reviving safe-haven demand supports the US Dollar. Moreover, recovering oil prices fuel inflation fears, bolstering Fed rate-hike bets and pushing US Treasury bond yields. This further underpins the USD as the focus shifts to the US NFP report, due later today. Chinese trade data fail to impress Aussie buyers.

USD/JPY retreats below 158.50 as focus remains on US NFP

USD/JPY eases from weekly highs and trades below mid-158.00s in Asia on Friday, as the Japanese Yen shrugs off concerns about Japan's falling household spending and worsening fiscal condition amid the wide US-Japan rate gap. The US Dollar, on the other hand, benefits from geopolitical uncertainties, which could cap the pair's downside ahead of the US NFP report.

Gold finds fresh buyers to regain $4,250 ahead of US NFP

Gold is back on the bid above $4,250 in the Asian session on Friday, stalling the previous day's pullback from levels just above $4,300, or the highest since June 18. Geopolitical uncertainty amid the US-Iran standoff over the Strait of Hormuz lifted oil prices and revived inflation fears, bolstering Fed rate-hike bets and pushing US bond yields higher. This, in turn, supports the US Dollar, though Gold bears seem hesitant ahead of the crucial US NFP report.

Bitcoin under pressure, Ethereum trades sideways, Ripple gravitates toward $1

Bitcoin and Ethereum remain under pressure after mild gains, while Ripple slides over 5% so far this week. BTC faces rejection near a key resistance barrier, and ETH has been trading sideways for the last 22 days. At the same time, XRP is gravitating its correction toward the key $1 support zone.

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DEEPER DIVE

Three central banks held rates this week. Here's what has them all worried

The Federal Reserve (Fed), Bank of England (BoE) and Bank of Japan (BoJ) all kept interest rates unchanged this week. Anyone looking at the decisions alone might conclude that monetary policy had entered a quiet period. The message beneath the surface was very different.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.

Where the Pound is headed as war, fiscal cracks and central banks collide

Looking back, 2026 has not been a bad year for the British Pound (GBP). The GBP/USD pair is less than 1% below the year-opening levels, which, comparatively, is far from the worst performance among major currencies, especially considering that a major conflict erupted in the Middle East, Crude Brent oil reached levels above $120, and the UK cabinet collapsed in the meantime, although the latter is not that uncommon.

CRYPTOCURRENCIES

Ethereum Price Forecast: Whales absorb retail distribution as bear market nears late stage

Ethereum (ETH) large holders have been accumulating the supply of retail investors in 2026. In a report released late Wednesday, CryptoQuant analysts highlighted that the supply of the 1K-10K ETH cohort has fallen from 15.6 million ETH in January to roughly 12.9 million ETH.

Hyperliquid reports strong Q2 growth despite revenue decline

Hyperliquid Research Collective (HRC) reported on Thursday broad growth across Hyperliquid's key operating metrics in Q2 despite a decline in revenue, as adoption of its HIP-3 ecosystem and HYPE token continued to accelerate. The firm noted that holder revenue declined 4.7% QoQ to $142.88 million, while protocol revenue fell 6.6% to $169.37 million, according to a Thursday report.

Dogecoin Price Forecast: DOGE sell-off seems unstoppable despite renewed retail interest

Dogecoin (DOGE) is trading under dominant selling pressure on Thursday, hovering below $0.0700, a recent support-turned-resistance level. The meme coin has shed 3% of its value in the first week of August, against a backdrop of heavier selling pressure in previous months since May highs around $0.1186.

STOCKS

Sandisk destroys consensus in Q4, but market acts unimpressed

Sandisk (SNDK) clobbered the Wall Street consensus late Wednesday, issuing a strong beat on the top and bottom lines for the fiscal fourth quarter ending in June. The memory chip maker caught in an extreme shortage of memory chips worldwide reported adjusted earnings per share of $39.25, beating the consensus by $4.73.

Nasdaq 100 rebound looks strong… or is it just a trap?

The Nasdaq 100 spent the past few sessions recovering strongly from its November lows, rebounding from 24,307 and climbing back into the 25,100–25,150 mid-range zone. While the candles look convincing, the broader picture reveals a different story: the index remains trapped inside a 4H range structure.

WEEKLY FORECAST

EUR/USD: US Dollar in trouble as Warsh chickens out

The EUR/USD pair closes July with modest gains near the 1.1500 mark, adding over 1.1% in the last trading week. Price action throughout the month was dull to say the least as investors remained clueless, although the pair managed to hit 1.1530 ahead of the close.

Japanese Yen mid-year outlook: Why BoJ rate hikes aren't saving the Yen — and what actually would

The Japanese Yen (JPY) has experienced a pronounced downtrend since the beginning of 2026, hitting a series of multi-decade lows versus the US Dollar (USD) heading into the second half of the year.

Gold: Bull hesitancy persists despite weaker US Dollar

Gold (XAU/USD) struggled to make a decisive move in either direction as the persistent US Dollar (USD) weakness was offset by a widening conflict in the Middle East. July employment data from the United States (US) could trigger a big reaction in Gold, while the near-term technical outlook highlights a lack of buyer interest.

Bitcoin: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.

Here is what you need to know for Tuesday, August 4:

Oil prices fell sharply on Monday amid growing expectations that talks between the US and Iran will resume soon. US President Donald Trump stated that conversations are underway after Tehran said it had no plans for direct negotiations. The US Dollar Index (DXY) rises around 0.1% and trades near 99.90, holding just below the 100.00 threshold.

Week ahead – US payrolls report and AI earnings to keep investors on edge

With the Fed still pondering how soon it would be appropriate to raise interest rates, the July jobs report looks set to take centre stage in a week where little else is likely to attract much attention. Although with tensions in the Middle East remaining high and blockbuster earnings struggling to stop the bleeding on Wall Street, volatility isn’t about to ebb.

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