From earlier: USD/JPY bounce starts to gain some traction

The traction is certainly building up to a stronger momentum today with the pair now touching the 151.00 mark. As mentioned in the post above, it comes after the bounce today moved past the 100-hour moving average (red line). That switched the near-term bias to being more neutral and opens up some room to roam for the pair. The 200-hour moving average (blue line) is still a distance away at 151.75 currently.

The dollar is keeping steadier but is not seeing broad-based strength against the rest of the major currencies bloc. That being said, higher Treasury yields is also helping with the mood as well as a bid in Japanese bonds on the day.

10-year yields in the US are up 3.5 bps to 4.254% while 10-year yields in Japan are down 2 bps to 1.060%. The latter is perhaps an indication of traders toning down rate hike expectations on the BOJ. The odds of a 25 bps rate hike are now at ~37%, down from ~54% yesterday.

In the bigger picture though, buyers are keeping a solid bounce off a test of the 100-day moving average this week. So, that is encouraging. It will now come down to US labour market data to vindicate the moves we’re seeing in European morning trade and if there is scope for a further rebound on the week.

This article was written by Justin Low at www.forexlive.com.

From earlier: Australia GDP Q3 0.3% versus 0.4% estimate

After the report was released, the aussie dropped and eventually took a run under the key short-term support region of 0.6433-50. There was a slight bounce after as we began European trading but now we’re seeing price run back to the downside.

If the technical break is reaffirmed, it lines up the pair to test daily support at around 0.6389 next with the August low of 0.6347 also in focus.

It’s been a poor last two months for the aussie against the dollar and that looks set to run further in December, at least for now.

The recent slide in the Chinese yuan is also arguably not helping with overall sentiment. And with the dollar keeping steadier amid some light pushing and pulling this week, the cracks are starting to show in AUD/USD as key technical levels are challenged.

As for the RBA pricing, not too much has changed in the immediate term. However, traders are now seeing the first rate cut to be in April and no longer in May next year. So, there’s that. As for rate cuts until July next year, traders are seeing ~50 bps and that’s not all too different from yesterday.

In any case, sellers are now well in control with the other support levels noted above being the ones to watch out for next.

The dollar in general is keeping in a good spot today, with USD/JPY also up 0.8% to 150.85 now as the rebound gains traction.

This article was written by Justin Low at www.forexlive.com.

The Binary Holdings, a $16.9 billion technology leader,
today announced a strategic investment of up to $5 million from ABO Digital, a
digital asset investment firm providing alternative financing solutions to
cryptocurrency projects around the world. This investment will power The Binary
Holdings to accelerate its mission of transforming the global digital economy.

With a robust user base of 169 million across multiple
verticals, The Binary Holdings is reshaping how businesses, consumers, and
investors interact in the digital landscape, and is targeting one billion users
by 2025. This collaboration will drive the expansion of a decentralised open
network that seamlessly integrates with Web2 infrastructure while unlocking the
full potential of Web3, empowering businesses and users to benefit from digital
services such as cross border payments, gaming, digital social and other
compelling services.

The Binary Holdings has established itself as a central
player in decentralised connectivity, working with a range of partners,
including major telecom providers, to redefine how people and businesses
interact across regions. Through contracts with seven leading telcos and a
growing network of non-telco partners, The Binary Holdings is setting a new
benchmark for global interoperability in digital commerce. At the centre of the
Decentralised Open Network for Distribution and Commerce is The Binary Network,
where users, businesses, and service providers can seamlessly connect and
transact across borders.

By using BNRY, the network’s single digital currency, The
Binary Network is redefining the way value flows between participants, ensuring
that payments are frictionless and accessible to users worldwide. This bold
vision of using a single digital currency across its vast ecosystem enables
true interoperability and cross-pollination amongst its diverse range of
partners in both the telco and non-telco sectors, allowing for commerce to flow
in a way that was previously unimaginable, eliminating the barriers between
platforms and national borders.

The platform’s ability to facilitate seamless transactions
and interactions across multiple industries has already garnered attention from
some of the world’s largest companies. With contracts signed with seven major
telcos, The Binary Holdings is on track to reach 1 billion users by December
2025, becoming a true global player in the decentralised economy.

Introducing Millenia – Digital Bank for Seamless
Cross-Border Transactions

In Q2 2025, The Binary Holdings will launch Millenia, a
digital bank aimed at simplifying cross-border payments and remittances for
users within The Binary Network. Designed to empower seamless transactions for
individuals and businesses, Millenia will offer a low-cost, fast, and
transparent service powered by the secure decentralised and interoperable
infrastructure of The Binary Network, with BNRY as the primary transaction
digital currency.

Supporting Multi-Chain Compatibility and Global dApp
Growth

The Binary Holdings‘ blockchain infrastructure is gaining
strong traction among dApp developers. Through partnerships with over seven
Layer 1 and Layer 2 blockchain networks, The Binary Holdings has created unique
bridges which provide dApps immediate access to Binary’s expanding user base of
169 million, projected to reach one billion by 2025, creating unmatched
engagement and utility.

By bridging Web2 and Web3, The Binary Holdings addresses a
key challenge in the sector, accelerating Web3 adoption at scale and
establishing itself as a leader in building tangible utility and mass adoption.

“The Binary Holdings is at the forefront of creating a new
global standard for digital distribution and commerce,” said Siddharth Sahi,
CBO, The Binary Holdings. “With the launch of the Binary Digital Bank, support
from ABO Digital, and an expanding network of partners, we’re excited to
continue pushing boundaries and bringing innovative solutions to our global
community.”

A Tech Powerhouse in Southeast Asia and the Middle East
and a Global Leader in the Digital Economy through Mass Adoption

The Binary Holdings is rapidly establishing itself as one of
the region’s most valuable and innovative tech companies, with a valuation of
$16.9 billion. With strong partnerships, an expanding user base, and a
commitment to essential infrastructure, The Binary Holdings is on track to
become a global digital economy leader. Its blockchain technology drives
innovation in decentralized finance (DeFi), NFTs, gaming, and digital commerce
at scale, building a robust ecosystem that redefines business, payments, and
global interactions.

“We are excited to collaborate with The Binary Holdings at
such a pivotal time in the evolution of the digital economy” said Talal Samy,
Investment Associate at ABO Digital. “The company’s ability to innovate, scale,
and bring real-world solutions to a global audience is unmatched. Their
groundbreaking work in creating seamless global interoperability and fostering
mass adoption of decentralised technologies aligns perfectly with our mission,
and we are proud to support them as they continue to shape the future of Web3.”

With ABO Digital’s support and its expanding ecosystem and
through real-world applications, from digital payments to cross-border
commerce, The Binary Holdings is pushing Web3 and blockchain into the
mainstream.

About ABO Digital

ABO Digital is an investment firm providing alternative
financing solutions to cryptocurrency projects around the world. It is part of
the Alpha Blue Ocean group, a pioneering multi-family office renowned for its
leadership in alternative finance and innovative investment strategies. With a
global presence and a commitment to supporting groundbreaking projects, ABO
Digital has established itself as a driving force in fostering technological
advancements and sustainable growth across various sectors, including health,
medical innovation, and now, blockchain technologies.

About The Binary Holdings Limited

Headquartered in Dubai, UAE, and with a global user base of
169 million, The Binary Holdings Limited (https://www.thebinaryholdings.com/) is
a leading decentralised technology company committed to creating open,
interoperable networks for digital commerce. By 2025, it aims to empower a
billion users worldwide with secure, scalable blockchain infrastructure.

This article was written by FL Contributors at www.forexlive.com.

• OPEC+ is likely to extend its output cuts until the end of Q1 at its meeting on Thursday.
• The move is intended to provide an additional support for the oil market.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

Fundamental
Overview

The US Dollar continues to
consolidate around the highs as the market reached the peak in the repricing of
interest rates expectations and it will need stronger reasons to price out the
remaining rate cuts for 2025.

This was signalled by the
lack of US Dollar strength after lots of strong US data with the market’s
pricing remaining largely unchanged around three rate cuts by the end of 2025.
We might see the greenback remaining on the backfoot at least until the US CPI
due next week.

Yesterday, Fed’s Waller and Fed’s Williams sounded like a rate cut in December
is basically a done deal with the plan to slow the pace of rate cuts
considerably in 2025. We will likely need another hot CPI report to force them
to skip the December cut.

On the NZD side, the RBNZ cut interest rates by 50 bps as expected
recently but overall was less dovish than the market’s aggressive view. Right
now, the market sees a 67% chance of a 25 bps cut in February 2025 and a total
of 88 bps of easing by the end of next year.

NZDUSD
Technical Analysis – Daily Timeframe

On the daily chart, we can
see that NZDUSD probed above the key resistance zone around the 0.5912 level but
eventually failed to sustain the breakout. The buyers will want to see the
price breaking higher to increase the bullish bets into the 0.6050 level next.
The sellers, on the other hand, will likely continue to step in around the
resistance to target a drop into the 0.5773 level.

NZDUSD Technical
Analysis – 4 hour Timeframe

On the 4 hour chart, we can
see that the recent price action formed an inverse head
and shoulders. This is generally a signal of a loss in momentum, but the
price will need to break above the neckline around the 0.5912 level to potentially
trigger a rally into the 0.6050 resistance next.

NZDUSD Technical
Analysis – 1 hour Timeframe

On the 1 hour chart, we can
see that we have a minor support zone around the 0.5885 level where the price
reacted from several times in the past days. The buyers will likely step in here
to position for the break above the resistance. The sellers, on the other hand,
will look for a break lower to target a drop into the lows. The red lines
define the average daily range for today.

Upcoming
Catalysts

Today,
we get the US Job Openings data. Tomorrow, we have the US ADP, the US ISM
Services PMI and Fed Chair Powell speaking. On Thursday, we get the latest US
Jobless Claims figures. Finally, on Friday, we conclude the week with the US
NFP report.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

Fundamental
Overview

The US Dollar continues to
consolidate around the highs as the market reached the peak in the repricing of
interest rates expectations and it will need stronger reasons to price out the
remaining rate cuts for 2025.

This was signalled by the
lack of US Dollar strength after lots of strong US data with the market’s
pricing remaining largely unchanged around three rate cuts by the end of 2025.
We might see the greenback remaining on the backfoot at least until the US CPI
due next week.

Yesterday, Fed’s Waller and Fed’s Williams sounded like a rate cut in December
is basically a done deal with the plan to slow the pace of rate cuts
considerably in 2025. We will likely need another hot CPI report to force them
to skip the December cut.

On the AUD side, the market
expects just two rate cuts by the RBA next year with the first one fully priced
in for May 2025. The Australian economic data remains solid while inflation
continues to fall slowly keeping the central bank in a neutral stance.

AUDUSD
Technical Analysis – Daily Timeframe

On the daily chart, we can
see that AUDUSD is stuck in a range between the 0.6440 support and the 0.6540 resistance. The market
participants will likely keep on playing the range until we get a breakout on
either side.

AUDUSD Technical
Analysis – 4 hour Timeframe

On the 4 hour chart, we can
see that we have a very strong resistance zone around the 0.6540 level where we
can also find the major trendline for confluence.

That’s where we can expect
the sellers to step in with a defined risk above the resistance to position for
the continuation of the downtrend. The buyers, on the other hand, will want to
see the price breaking higher to invalidate the bearish setup and position for
a rally into the next resistance at 0.6687.

AUDUSD Technical
Analysis – 1 hour Timeframe

On the 1 hour chart, we can
see that we have a minor upward trendline defining the current pullback into
the resistance. The buyers will likely lean on it to keep pushing higher, while
the sellers will look for a break lower to target a break below the support. The
red lines define the average daily range for today.

Upcoming
Catalysts

Today,
we get the US Job Openings data. Tomorrow, we have the US ADP, the US ISM
Services PMI and Fed Chair Powell speaking. On Thursday, we get the latest US
Jobless Claims figures. Finally, on Friday, we conclude the week with the US
NFP report.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

Smile Shop, the premier Asian e-commerce platform, has
partnered with Conflux Network, China’s only regulatory-compliant public
blockchain, to launch the BitUnion prepaid card. This partnership signifies a
major expansion into global digital asset payment with cards welcome in 183
countries and regions.

The BitUnion prepaid card operates on the recently launched
UnionPay International USD prepaid card framework. UnionPay International, the
world’s second-largest card payment processor, ensures seamless financial
transactions. Users can load funds onto the card to make online purchases, use
it at point-of-sale machines, or withdraw cash from UnionPay ATMs across 183
countries. The card can also be linked with popular third-party payment
platforms like Alipay and WeChat Pay. Whether offline or online, transactions
are settled at real-time exchange rates between local currencies and USD. The
account approval process is quick, and management fees are waived during the
initial launch period.

As a key product in Conflux’s PayFi ecosystem, the prepaid
card incorporates experienced security authentication systems from traditional
finance. User data is managed by professional institutions, ensuring security
and compliance. Fiat assets are held within the UnionPay account system,
guaranteeing absolute security and reliability. The BitUnion prepaid card has
obtained the highest-level financial security certifications, including 3DS and
PCI-DSS, comprehensively protecting cardholders‘ payment security.

The prepaid card will support digital asset transactions and
transfers within the Conflux Network, leveraging the blockchain-based PayFi
system to overcome limitations in traditional payment infrastructure.
Introducing traditional financial models (from credit cards to invoice
financing and reverse factoring) into blockchain creates a more integrated
value network. Conflux’s PayFi (Pay Finance) addresses inefficiencies in
traditional payment systems while keeping financial operations aligned with
real-time data, creating a large-scale model for blockchain consumer
application ecosystems.

As a high-performance Layer1 blockchain, Conflux has been at
the forefront of technological advancements, particularly in the development of
Stablecoins. They are now expanding their focus to encompass a comprehensive
Payments infrastructure and cultivate the PayFi ecosystem. Aiming to become the
blockchain of choice for consumer-grade Payments in the future, Conflux
Foundation has committed 500 million CFX from the ecosystem fund to fuel the
growth of PayFi stack components.

About Smile Shop

Smile Shop (https://www.smileshop.com.kh/) is a super
e-commerce platform under Smile Shop Holdings Pte (Singapore), targeting
Southeast Asian markets with the vision of becoming Southeast Asia’s most
trusted fintech super e-commerce platform.

About Conflux Network

Conflux Network is a permissionless Layer 1 blockchain that
connects decentralized economies worldwide. It utilizes a hybrid PoW/PoS
consensus mechanism, ensuring a fast, secure, and scalable blockchain
environment. Conflux operates without congestion, maintains low fees, and
prioritizes network security.

Being the leading regulatory-compliant public blockchain in
China, Conflux offers advantages for projects entering the Asian market. In its
partnerships, Conflux collaborates with global brands and government entities
including, Shanghai, China Telecom, Little Red Book (China’s Instagram),
McDonald’s China, and Oreo. These noteworthy collaborations serve as a
testament to Conflux’s unwavering dedication to driving blockchain and
metaverse initiatives.

This article was written by FL Contributors at www.forexlive.com.

Streamr, the decentralized real-time data network, and JDI,
a manufacturing leader and venture capital in decentralized physical
infrastructure networks (DePIN), are teaming up to transform home-based mining
through the launch of the Terminal Multi-Miner. This new mining device combines
multi-token mining capabilities with decentralized protocol participation,
providing a new way for users to engage with DePIN and the decentralized
economy from the comfort of their homes.

Terminal Multi-Miner: a new gateway to home-based mining

The Terminal Multi-Miner from JDI supports multiple
cryptocurrencies, including $DATA, $ANYONE, and other projects that are added
through future updates. Its modular “mining lego” framework allows users to
customize their setups for efficiency and flexibility, creating a
straightforward way to engage with DePIN.

Terminal T2: A powerful multi-miner designed for seamless
multi-token mining, supporting $DATA and other tokens.

The Terminal T2 model, scheduled for launch in Q1 2025, will
enable seamless multi-token mining, featuring integration with projects such as
the Streamr Network. With Terminal T2, users can receive $DATA while
contributing to the Streamr protocol, simplifying participation in the
ecosystem.

New accessibility in DePIN

The Terminal Multi-Miner is designed with everyday users in
mind to make advanced crypto-mining technology more accessible. Its
plug-and-play functionality is designed to lower technical barriers and allow
more individuals to participate in DePIN and crypto mining.

“We have been fans of Streamr tech for some time, especially
their severless capability—and we are excited to explore how we will leverage
this against multiple data propagation use cases across the Terminal
Multi-Miner Network” said Yiming Wang, Founder of JDI. “Together,
Terminal and Streamr will deliver a unique, user-centric mining experience for
Web3.”

Engaging with the Streamr Network and mining $DATA

The $DATA token of the Streamr Network plays a key role in
the Terminal Multi-Miner. As one of the mining options available, $DATA allows
users to actively participate in the Streamr Network by becoming nodes that
support its peer-to-peer data broadcasting infrastructure.

“Our collaboration with JDI and Terminal represents an
important step forward for DePIN and decentralized data networks,” said Matthew
Fontana, CEO of Streamr. “By providing a simple, accessible way to
participate in Streamr and other Web3 protocols, we’re helping to make DePIN
more decentralized and scalable, critical for ensuring its long-term success.”

A partnership built on expertise

JDI, with a strong track record in hardware manufacturing
for decentralized networks, has supported communities like DIMO and Helium,
deploying over 500,000 devices. Streamr, a ‘DePIN original’ founded in 2017,
complements this expertise with its scalable P2P infrastructure and tools,
which has been trusted by more than 20 DePIN projects, including Flux, Arkreen,
and Minima.

The Terminal Multi-Miner is just the beginning of what
Streamr and JDI aim to achieve together in making DePIN a mainstream reality.

About Streamr

Streamr is building the real-time data protocol for the
decentralized web. Its scalable, low-latency and secure P2P Network enables
data broadcasting and monetization at scale. By powering applications for DePIN
projects and beyond, Streamr aims to decentralize data pipelines and create new
opportunities for data-driven innovation. To learn more, users can visit
streamr.network.

About JDI Global Group Limited

Founded in 2016, JDI is a manufacturing and venture capital
leader specializing in decentralized physical infrastructure networks. With
investments in projects like Grass, Ator, and Geodnet, and hardware for
networks like DIMO and Helium, JDI is shaping the future of Web3 and
decentralized wireless networks.

This article was written by FL Contributors at www.forexlive.com.

easyMarkets a leading Forex/CFD Broker, has officially announced the launch of its ‘Trade with the Champions’ competition, set to take place from December 2, 2024, to January 15, 2025. This competition is open to both new and existing traders, offering them an exclusive opportunity to test their strategies and compete for prestigious prizes, recognizing excellence and dedication in the field.With the launch of the ‚Trade with the Champions‘ competition, participants will have the opportunity to engage in a community-driven event that emphasizes skill development, learning, and recognition of outstanding performance in the trading field.Garen Meserlian, CMO at easyMarkets, comments, ‘The ‚Trade with the Champions‘ Competition exemplifies our commitment to providing an arena where traders can challenge themselves and gain recognition. We want to create an experience where every participant can grow and be supported by a community of like-minded individuals.’

About the Competition

‘Trade with the Champions’ creates a structured, yet accessible environment for traders to enhance their abilities while enjoying exclusive benefits. All participants receive 50% rebates on spreads, dealCancellation, and easyTrade fees, allowing them to maximize their trading potential with greater financial flexibility.This initiative highlights the importance of disciplined trading while reinforcing easyMarkets’ reputation as a supportive platform dedicated to fostering skill development and celebrating traders‘ success.

Prizes and Rewards

Participants will have the chance to compete for exciting rewards through a multi-tier prize system, designed to recognize and celebrate exceptional performance at every level:

Supreme Prize Package for the top Champion: $5,000 in trading credit, a trip to Madrid for two, luxury accommodation, VIP Real Madrid tickets for a home game, and customized Real Madrid jerseys.

Deluxe Prize Package for two distinguished traders: $2,000 in trading credit and a Real Madrid jersey.

Elite Prize Package for seven participants: $100 in trading credit and $100 risk-free trade.

To participate, traders can sign up through this link and find out more about the details of the competition and overall prizes.The Trade with the Champions’ competition is part of easyMarkets ongoing commitment to empowering traders and providing opportunities for growth, learning, and success in the dynamic world of trading.

ABOUT easyMarkets 

easyMarkets, founded in 2001, is an award-winning global broker. One of the first to offer an online experience with innovative risk management tools, including free guaranteed stop loss, easyTrade, Freeze Rate, and dealCancellation, easyMarkets provides its sizeable clientele with a streamlined, accessible, and flexible trading experience. Offering over 275 tradeable instruments, tight fixed spreads, and 24/5 dedicated support to traders around the world, easyMarkets continues to revolutionize the trading sector by providing unparalleled security and safeguards for client funds and consistently prioritizing client commitment and satisfaction.  

This article was written by FL Contributors at www.forexlive.com.

Rate cuts by year-end

• Fed: 15 bps (61% probability of rate cut at the upcoming meeting)

2025: 78 bps

• ECB: 31 bps (77% probability of 25 bps rate cut at the upcoming meeting)

2025: 162 bps

• BoE: 4 bps (86% probability of no change at the upcoming meeting)

2025: 77 bps

• BoC: 36 bps (53% probability of 25 bps rate cut at the upcoming meeting)

2025: 104 bps

• RBA: 2 bps (91% probability of no change at the upcoming meeting)

2025: 56 bps

• RBNZ: 33 bps (66% probability of 25 bps rate cut at the upcoming meeting)

2025: 86 bps

• SNB: 32 bps (72% probability of 25 bps rate cut at the upcoming meeting)

2025: 70 bps

Rate hikes by year-end

• BoJ: 15 bps (58% probability of rate hike at the upcoming meeting)

2025: 51 bps

*where you see 25 bps rate cut, the rest of the probability is for a 50 bps cut

This article was written by Giuseppe Dellamotta at www.forexlive.com.