Asia Session Update: Cryptos Lag as Markets Await US GDP

Session brief Neutral bias Oct 29, 2026, 01:52 UTC

Daniel TanAsia-Pacific Market Analyst · ForexR analyst

Major currency pairs show mixed timeframe trends during the Asia session as the market awaits high-impact US economic data. Cryptocurrencies lag the board while the US dollar consolidates.

Asia Session Overview

During the Asia session, major currency and cryptocurrency markets display divergent performance profiles. Cryptocurrencies lag the board, with Ethereum dropping 1.76% and Bitcoin shedding 1.33% on the day. Conversely, WTI Crude Oil and AUD/USD lead the session with gains of 0.06% and 0.03%, respectively, while London prepares to open at 07:00 UTC.

Technical Setups and Pivot Levels

Bitcoin sits at 80162.77, operating below S1 at 80414.97 and entirely beyond the bottom of the pivot ladder. The four-hour trend points down, though the daily trend remains mixed. A move above R1 at 81903.83 opens the way higher, invalidating on a drop below the daily pivot at 81078.07. Conversely, with the price maintaining position below S1, the path lower remains open, with the daily pivot acting as the invalidation level.

Gold trades at 4052.78, positioned between S1 at 4033.75 and the daily pivot at 4058.17, under a downward daily trend. A break above R1 at 4091.69 opens the way higher, invalidating if the price falls below the daily pivot. On the downside, a drop below S1 opens the path lower, with the daily pivot serving as the invalidation level.

USD/JPY is positioned at 157.822, holding between S1 at 157.52 and the daily pivot at 157.922. The pair presents conflicting signals, showing a mixed daily trend but an upward four-hour trend. A push above R1 at 158.211 clears resistance, invalidating on a return below the daily pivot. On the downside, a drop below S1 opens the path lower, with the daily pivot marking the invalidation level.

AUD/USD trades at 0.70534, positioned between the daily pivot at 0.70452 and R1 at 0.70699. The four-hour trend points up, standing in contrast to a mixed daily trend. A sustained move above R1 opens the upside further, invalidating on a drop back below the daily pivot. On the downside, a break below S1 at 0.70268 opens the way lower, with the daily pivot serving as the invalidation level.

Market Newsflow and US Yield Context

Recent media coverage from FX Street, Forexcom, and ExchangeRates centers on the aftermath of the Federal Reserve's interest rate hold, diverging central bank pathways ahead of the Bank of Japan decision, and Canadian rate outlooks. Serving as context to these monetary policy themes, US Treasury yields at the daily close on 2026-10-28 showed the 10-year yield at 5.05%, up 6 basis points, while the 2-year yield settled at 4.67%, down 3 basis points.

Economic Calendar Ahead

Today's economic calendar brings scheduled releases from both the European Monetary Union and the United States. At 10:00 UTC, the EMU reports Consumer Confidence, estimated at -17.9, alongside Business Climate and the Economic Sentiment Indicator, estimated at 97.5. Following the London open, focus shifts to the US at 12:30 UTC for high-impact figures, including Annualized Gross Domestic Product, estimated at 3.2, and the Gross Domestic Product Price Index, estimated at 3.5. Simultaneous releases at 12:30 UTC include the Core Personal Consumption Expenditures - Price Index on both a month-over-month basis, estimated at 0.3, and a year-over-year basis, estimated at 3.1. The schedule also includes US Personal Spending, Personal Income, and Initial Jobless Claims.

Bottom Line

With London opening at 07:00 UTC, the foreign exchange market demonstrates technical divergence across major currency pairs. The session reveals a split between declining cryptocurrencies and consolidating fiat pairs ahead of today's scheduled US economic releases.