There were no major surprises, at least from our side from Thursday’s central bank event risk. We warned the BOE could deliver a hawkish cut, and we expected the Fed to cut rates 25 basis points and leave the door open for another cut in December.
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European Central Bank delivers as expected – LIVE
The European Central Bank (ECB) trimmed the three main interest rates by 25 basis points each, as widely anticipated. The Euro ticked marginally higher with the news, yet EUR/USD remains pressured near weekly lows ahead of President Christine Lagarde's press conference.
GBP/USD nears 1.2700 on broad US Dollar demand
GBP/USD is pulling further back towards the 1.2700 level in the European session on Thursday as traders turn cautious. The pair reverses earlier gains even as the US Dollar corrects downwards. The focus remains on the US PPI and Jobless Claims data.
Gold price sits near one-month high on Fed rate cut optimism and softer USD
Gold price seems to have stabilized following good two-way price swings and trades around the $2,720 area during the early European session, just below the highest level in more than a month touched earlier this Thursday.
Chainlink surges amid World Liberty purchase, Emirates NBD partnership and CCIP launch on Ronin network
Chainlink price surges around 15% on Thursday, reaching levels not seen since mid-November 2021. The rally was fueled by the Donald Trump-backed World Liberty Financial purchase of 41,335 LINK tokens worth $1 million on Thursday.
Can markets keep conquering record highs?
Equity markets are charging to new record highs, with the S&P 500 up 28% year-to-date and the NASDAQ Composite crossing the key 20,000 mark, up 34% this year. The rally is underpinned by a potent mix of drivers.
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