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EUR/USD: Further declines remain well in store
EUR/USD broke below the key 1.0500 support to clock a new 2024 low, always on the back of the intense strength in the Greenback, which sent the US Dollar Index (DXY) to fresh yearly peaks past 107.00 ahead of key US data releases on Friday.
GBP/USD reclaims the 1.2700 barrier and above
In line with the rest of its risk-related peers, GBP/USD leaves behind the initial drop to multi-month lows near 1.2630 and attempts a move beyond 1.2700 the figure amidst renewed weakness in the Greenback.
Gold trims early losses hovers around $2,575
The loss of momentum in the US Dollar and the retracement in US yields across the curve allow Gold prices to pick up some upside traction and revisit the $2,570 zone per ounce troy, trimming part of their early losses.
Dogecoin Price Prediction: Could DOGE turn deflationary after 100% rise? Elon Musk weighs in
Dogecoin (DOGE) is down 4% on Thursday after key figures, including Elon Musk, shared views on its token design and what a deflationary path could mean for its appeal as a currency.
Trump vs CPI
US CPI for October was exactly in line with expectations. The headline rate of CPI rose to 2.6% YoY from 2.4% YoY in September. The core rate remained steady at 3.3%. The detail of the report shows that the shelter index rose by 0.4% on the month, which accounted for 50% of the increase in all items on a monthly basis.
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