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Editors’ Picks
EUR/USD weakens toward 1.1600 as firm US data revives the US Dollar
The EUR/USD edged lower on Thursday, down some 0.21% as market sentiment remains risk averse due to the ongoing conflict in the Middle East. This and solid US economic data pushed the pair lower towards the 1.1600 figure ahead of Friday’s session.
GBP/USD stays offered near 1.3340
GBP/USD fades Wednesday’s uptick and trades with decent losses in the 1.3340 zone in the latter part of Thursday’s session. Cable’s weakness, alongside the rest of the risk complex, follows the strong performance of the Greenback amid intense geopolitical jitters.
Japanese Yen turns upside down against US Dollar as dovish Fed bets recede
The Japanese Yen gives back its early gains and turns negative against the US Dollar during the European trading session on Thursday. The USD/JPY pair rises to near 157.35 as the US Dollar resumes its upside journey after a corrective move. As of writing, the US Dollar Index trades 0.4% higher to near 99.15.
Editors’ Picks
AUD/USD slides nearly 1% to test the 0.7000 handle
AUD/USD fell about 1% on Thursday, wrapping the day up near the 0.7010 level after testing below the key 0.7000 handle intraday. The pair has now pulled back sharply from Tuesday's bounce, with two consecutive bearish sessions erasing most of the week's early gains. Price continues to chop within the roughly 150-pip consolidation band between 0.7000 and the year-to-date high close to 0.7150 that has defined the range since early February.
EUR/USD weakens toward 1.1600 as firm US data revives the US Dollar
The EUR/USD edged lower on Thursday, down some 0.21% as market sentiment remains risk averse due to the ongoing conflict in the Middle East. This and solid US economic data pushed the pair lower towards the 1.1600 figure ahead of Friday’s session.
Gold: further weakness could challenge $5,000
Gold comes under fresh selling pressure on Thursday, slipping back below the $5,100 mark per troy ounce. Persistent strength in the US Dollar (USD) is preventing the yellow metal from building a meaningful recovery, even as markets remain risk-averse amid the deepening conflict in the Middle East.
NYSE parent Intercontinental Exchange partners with OKX, invests at a $25B valuation
OKX announced an investment from Intercontinental Exchange, raising its valuation to $25 billion, alongside a partnership to expand regulated crypto futures and tokenized equity offerings globally.
Two PMIs, two Chinas Premium
China’s economic data are often treated with a degree of caution by global investors. The challenge is not necessarily that the numbers are incorrect, but that they can describe very different parts of a vast and complex economy. Nowhere is that more evident than in China’s PMIs.
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