Equity markets revive but dollar sinks anew

Chris Beauchamp IG

Trump's latest u-turn has bolstered stocks but traders continue to flee the US dollar, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.

Stocks digest the latest TACO

Stock markets have made further gains following last night’s abrupt solving of the Greenland crisis. Trump’s ability to escalate and then suddenly reverse course with no apparent hit to his reputation is remarkable, and provides opportunities for nimbler traders. Long-term investors just need the ability to shrug wearily and let the volatility run its course. Rotation continues apace in markets, as US small caps lead the way while tech lags behind, providing evidence of healthy digestion in markets.

Dollar weakness is back

While equities have rebounded, the same cannot be said of the US dollar. Despite a recovery yesterday traders continue to dump the greenback as the impact of the country’s scattergun approach to policy becomes clear. What seems a cornerstone one day is dumped the next, and that’s without considering the current war on the Federal Reserve.

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Chris Beauchamp

EUR/USD attempts some consolidation near 1.1750

EUR/USD is staying firmly supported and hovering near two-day highs around 1.1750 on Thursday, shaking off the mild pullback seen a day earlier. The pair is benefiting from a friendlier risk backdrop, underpinned by easing EU–US trade tensions and a softer Greenback. Moving forward, markets’ attention will be on the release of flash PMIs in Europe and the US on Friday.

GBP/USD flirts with 1.3500 on persistent USD selling

GBP/USD is regaining momentum on Thursday and pushing up towards two-week highs around the 1.3500 mark. In the process, Cable is leaving Wednesday’s brief wobble behind and slipping back into its upward trend, helped by ongoing selling pressure on the Greenback ahead of key advanced PMI data on Friday.

Gold: The $5,000 mark is just around the corner

Gold extends its impresive rally for yet another day on Thursday, this time surpassing the $4,900 mark per troy ounce to hit record highs on the back of the marked pullback in the US Dollar. The move is unfolding even as global risk appetite improves, after Donald Trump reversed course on Greenland, a shift that has helped cool broader geopolitical tensions.

Crypto Today: Bitcoin, Ethereum, XRP post modest gains as ETF selling pressure intensifies

Bitcoin rises marginally above $90,000, but intense ETF selling pressure continues to weigh on the asset. Ethereum trades around $3,000 amid broader crypto market volatility and waning institutional interest. XRP ticks up for the second consecutive day despite subdued retail demand.

Trump walks back NATO tariffs, signals de-escalation

What began as a sharp escalation risk quickly turned into a de-escalation signal. Earlier this week, markets briefly priced in escalation risk after Donald J. Trump proposed a 10% tariff hike on eight NATO nations amid the Greenland dispute.

XRP defends $1.90 support as ETFs attract inflows despite retail caution

Ripple (XRP) is consolidating above $1.90, a short-term support level, at the time of writing on Thursday. This mild uptick marks two consecutive days of a strengthening technical outlook, following recent market-wide volatility.