LMAX Group Research Desk
LMAX Group
Investors are becoming increasingly uncomfortable with the prospect of higher for longer policy in the US at a time where there continues to be legitimate concerns about the health of the economy. All of this also comes at a time where monetary policy divergence between the Fed and other major central banks has become more pronounced.
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EUR/USD drops to fresh three-week lows despite US data
EUR/USD fell to 1.0770 during the American session, the lowest level in three weeks. The pair faces downward pressure, largely driven by a strong US Dollar. The Greenback remained resilient despite weaker-than-expected US data. On Thursday, more jobs data is due with Jobless Claims, ahead of Friday's NFP.
GBP/USD heads for fourth consecutive daily loss
GBP/USD broke below 1.2580 and fell to 1.2566, reaching the lowest level since November 24. The US Dollar stays relatively resilient despite softer US jobs data and lower Treasury yields.
Gold faces mixed risks, fails to capitalize on lower yields Premium
Gold recovered toward $2,030 after testing $2,020 earlier in the day. The benchmark 10-year US Treasury bond yield declined to its lowest level in three months below 4.15% after US employment data and helped XAU/USD gain traction.
XRP price aims at $0.7 as Ripple whales accumulate $37 million worth of tokens in three weeks
XRP price has been moving sideways for the past few days after greatly benefitting from the partial win it attained in the lawsuit filed by the Securities & Exchange Commission (SEC). However, Ripple’s CEO decided that the credit largely goes not to himself or the company but to its supporters.
WTI plunges below $70.00 in upbeat US inventory report, China’s economy concerns
The US crude oil benchmark dropped below $70.00 per barrel after a solid inventory report in the United States (US) concerned market participants, outweighing the drawdown in crude stocks. WTI is trading at $69.52, down more than 3%.