USDollar is turning down against some major currencies, especially vs commodity currencies such as Aussie (AUDUSD), but looking at the 10Y US Notes chart, we still see room for another drop within wave »v« of C, which means that DXY may not turn down just like that. Looking at the EURUSD 4h time frame, there was some nice intraday rise to 1.07, but also move can be corrective within downtrend. Much stronger and important support can be around 1.05
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EUR/USD turns positive and reaches 1.0300
The resurgence of the selling pressure in the US Dollar now motivates EUR/USD to regain some fresh traction and test the 1.0300 region on Thursday, as investors continue to warm up for Trump 2.0.
GBP/USD treads water around 1.2230
In quite an apathetic day in the FX galaxy, GBP/USD hovers around the 1.2230 area in a context of subdued price action in the Greenback and further correction in UK 10-year gilt yields.
Gold on its way to test record highs
Prices of Gold advances further and manage to reclaim the key $2,700 mark per ounce troy on Thursday in response to the absence of traction in the US Dollar and diminishing US yields across the board.
Bitcoin holds near $100K ahead of Donald Trump's inauguration
Bitcoin's price edges slightly lower and trades around $99,200 on Thursday after rallying 4% following the previous day’s US CPI release. Despite this recent rise in BTC prices, traders should keep watch on US Retail Sales data for December on Thursday, as it could provide more volatility.
Eurozone industrial production ticked up in November
The slight 0.2% rise in production from October is insufficient to indicate a reversal of the two-year downward trend. Overall, the outlook for industry remains quite weak at the start of the year.
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