![EUR/USD - lifted by profit taking and intervention [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/EURUSD/euro-and-dolar-in-the-hands-of-a-girl-60809712_XtraLarge.jpg)
What fueled the EUR/USD rally is the intervention by the PBOC and Mexican central bank and profit taking on shorts. The overall outlook remains bearish. More in today’s FXSweep video with inputs from Alejandro Zambrano, Chief Market Strategist at LondiniumFX, and Zak Mir, Technical Analyst, Tip TV.
Author
FXSweep Team
FXStreet
EUR/USD has given up its earlier intraday gains on Thursday and is now struggling to hold above the 1.1850 area. The US Dollar is finding renewed support from a pick-up in risk aversion, while fresh market chatter suggesting Russia could be considering a return to the US Dollar system is also lending the Greenback an extra boost.
GBP/USD gives away its daily gains and recedes toward the low-1.3600s on Thursday. Indeed, Cable now struggles to regain some upside traction on the back of the sudden bout of buying interest in the Greenback. In the meantime, investors continue to assess a string of underwhelming UK data releases released earlier in the day.
Gold drops markedly on Thursday, challenging the $4,900 mark per troy ounce following a firm bounce in the US Dollar and amid a steep sell-off on Wall Street, with losses led by the tech and housing sectors.
LayerZero (ZRO) trades above $2.00 at press time on Thursday, holding steady after a 17% rebound the previous day, which aligned with the public announcement of the Zero blockchain and Cathie Wood joining the advisory board.
Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.
Aster is up roughly 9% so far on Thursday, hinting at the breakout of a crucial resistance level. Aster partners up with Binance wallet for the second season of the on-chain perpetuals challenge.
