Nasdaq struggles at key resistance as ASX 200 dips again

(AI video summary)

This video was created on 3 September 2025 for IG audiences by ausbiz.

Nasdaq's uncertain path

The US Tech 100 (Nasdaq) recently encountered key resistance around 24000, halting its progress. This situation is highlighted by a break below a neckline, suggesting further declines could occur if support levels fall. Increasing bond yields and seasonal factors add to the potential for pullbacks.

Australia 200 trends

The Australia 200 (ASX 200) experienced its third consecutive session of declines, influenced by Wall Street and ex-dividend adjustments impacting 15 points in the drop. Healthcare stocks have faced pressure, especially since CSL's recent report, and the index is nearing support at 8850. Failure to maintain this support could lead to further declines toward the 8600 level.

Aussie dollar and GDP outlook

TheAustralian dollar remains relatively stable, trading in a 'two steps forward, one step back' pattern. Recent dips saw it near $0.65 before recovering.

Anticipation surrounds the upcoming gross domestic product (GDP) figures, expected to show 0.5% quarterly growth. Consistent GDP growth could provide support and potentially push the currency toward $0.67.

Gold and oil movements

Gold reached record highs around $3500 per ounce, surpassing key resistance levels. Future gains will depend on upcoming labour force reports and potential interest rate cuts. Meanwhile, oil prices have increased due to geopolitical tensions and expected inventory drawdowns, possibly reaching the $70 mark.

Bitcoin's volatile journey

Bitcoin remains a highly volatile asset, recently dipping to $107,000. Despite its dual nature as a speculative asset and a safe haven, current global concerns may bolster its safe haven status, with potential to rise toward $120,000. A move above $125,000 could indicate a renewed uptrend.