EUR/USD sticks to gains near 1.0500 ahead of ECB policy announcements
EUR/USD holds positive bias near 1.0500 in the European session on Thursday amid a broad US Dollar retreat. However, the upside remains capped amid expectations for more ECB rate cuts in 2025. ECB policy announcements and Lagarde's press conference are on tap.
GBP/USD rebounds toward 1.2800 as US Dollar retreats
GBP/USD recovers its recent losses and heads toward 1.2800 in the European morning on Thursday. The pair bounces as the US Dollar corrects downwards after breaking its four-day winning streak despite higher US Treasury yields. Focus shifts to US PPI and Jobless Claims data.
Gold price reverses intraday dip to $2,700; flat lines amid mixed fundamental cues
Gold price reverses an Asian session dip to sub-$2,700 levels, though it remains below the highest level in more than a month touched earlier this Thursday. The US consumer inflation data released on Wednesday reaffirmed bets that the Federal Reserve will deliver a third consecutive interest rate cut next week.
Sui hits new all-time high of $4.9 as Backpack integration sparks $466 million DEX volume surge
Sui price reaches a new all-time high of $4.9 on Thursday after increasing more than 20% the previous week. The main reason behind the rally is Wednesday’s announcement of the Backpack exchange and wallet integration with the SUI blockchain and decentralized exchange volume reaching new highs.
DEEPER DIVE
A new horizon: The economic outlook in a new leadership and policy era
The economic aftershocks of the COVID pandemic, which have dominated the economic landscape over the past few years, are steadily dissipating. These pandemic-induced economic effects are set to be largely supplanted by economic policy changes that are on the horizon in the US.
Gold’s growth potential in 2025: A market overview BRANDED
Gold has been valued for its stability when the financial fires are raging. That stable nature was underscored in 2024 when its price shot upward, gaining over $700 per ounce. This amounted to a 34% increase since January. The vibrant price increase has gotten traders and investors all jazzed up again about gold.
CEE growth navigator
The economic growth in Hungary and Romania was the most surprising in Q3, with the former contracting and the latter expanding by 1.1% YoY, well below expectations. As a result, we have already revised our 2024 growth forecast downwards to 0.5% and 0.8%, respectively. Similarly, flash GDP in Slovakia was also disappointing at 1.2% YoY.
CRYPTOCURRENCIES
Ripple's XRP could rally to $4.75 despite rising profit-taking among investors
Ripple's XRP continued its rally on Wednesday as it looks to test the upper boundary of a key flag channel. Following the recent price rise, investors booked profits worth nearly $800 million while options traders bet on the remittance-based token hitting the $5 mark.
Caroline Crenshaw's renomination vote postponed, as crypto industry pays keen attention on voting procedures
The Senate vote on Wednesday regarding the reappointment of Securities & Exchange Commission Commissioner Caroline Crenshaw has been postponed due to a clash with procedural rules following a shift in the initial schedule.
Ethereum Price Forecast: ETH eyes new yearly high as whale and institutional holdings increase
Ethereum is up 6% on Wednesday after bouncing off the support level near $3,550. The spot market shows institutional investors and whales maintained a bullish sentiment, potentially scooping up ETH at lower prices during the recent dip.
STOCKS
Boeing stock continues advance following return to 737 Max production Premium
Boeing (BA) stock made further gains on Wednesday, one day after the aerospace leader saw shares jump 4.5% as a long-running employee strike ended. BA stock had gained about 2% near lunchtime in New York but closed the day up 1.13%.
GameStop shares rise 11% as Meme stock posts unexpected profit
GameStop (NYSE:GME) stock was on the move Wednesday after the company reported a third quarter earnings surprise. The video game retailer reported revenue of $860 million, which was 20% lower than the same quarter a year ago.
WEEKLY FORECAST
EUR/USD: ECB decision and US CPI stand out ahead of Fed Premium
The EUR/USD pair posted a weekly high of 1.0629 on Friday but finished the week unchanged around the 1.0570 mark. The Greenback fell following the release of the US NFP report but quickly trimmed losses, pushing the pair back below the 1.0600 mark.
GBP/USD: Pound Sterling looks at US inflation amid data-light week Premium
The Pound Sterling hit three-week highs against the US Dollar above 1.2750. GBP/USD awaits US inflation data amid a relatively data-light week ahead. Bearish bias intact while the Pound Sterling holds below the key 200-day SMA.
US Dollar recovers after strong NFP report
The US Dollar Index, which measures the value of the USD against a basket of currencies, gained toward 106.00 on Friday, driven by several key movers. The US Dollar remained flat after the release of NFP data, while markets anticipated a potential December rate cut by the Fed.
Gold: Key data releases from China, US could help XAU/USD find direction Premium
Gold opened in a calm manner on Monday and spent the rest of the week fluctuating in a narrow channel at around $2,650. Trade Balance data from China and November inflation figures from the United States could help XAU/USD break out of its trading range next week.
Bitcoin: Long-awaited $100K milestone meets profit taking
Bitcoin ends the working week hovering around $98,000 after a very volatile Thursday when it surpassed the $100K milestone and underwent a sharp correction. Strong institutional demand, whale accumulation, and the choice of a pro-crypto figure to lead the US SEC fueled the rally this week.
Week ahead – The central bank bonanza begins, US CPI eyed too
The CPI report for November out on Wednesday will be the last major piece of the jigsaw for policymakers ahead of the meeting, so a strong market reaction is almost guaranteed. The ECB is expected to hit the headlines with its rate decision.
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