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Nicole joined Trading Point as a Market Analyst in January 2025. She holds a BA in English Literature from Kingston University, London, and an MA in Applied Linguistics (Research Methodology) from the University of Southampton with distinction.
AUD/USD holds steady above 0.7000 during Thursday’s Asian session, consolidating the previous day’s recovery gains from a near three-week low as the Democratic sweep in the US midterm elections and Iran diplomacy hopes continue to weigh on the US Dollar. Bulls, however, seem hesitant as focus shifts to Friday’s crucial US NFP report.
USD/JPY trades with a negative bias for the second straight day on Thursday as hawkish BoJ Minutes, showing members agreed to keep raising rates, and intervention risks support the Japanese Yen. Meanwhile, US midterm election results and hopes for Iran diplomacy keep the US Dollar depressed as focus shifts to Friday’s US NFP report.
Gold retreats slightly from a two-week high touched during Thursday’s Asian session, albeit it clings to gains for the second straight day and currently trades around $4,130. The US Dollar extends the fallout from US election results, dropping to a fresh low since late September and assisting the commodity in building on the previous day's strong rally of over 3.5% – its biggest single-day rise since mid-August.
Ripple and Stellar extend their recovery as bearish pressure begins to ease for both altcoins. XRP trades above $1.30 after breaking above the upper trendline of a falling channel pattern, while XLM holds above $0.168 and approaches resistance at $0.173. Meanwhile, improving derivatives metrics and strengthening momentum indicators hint at a potential for further recovery.
The Bank of England is set to reveal its latest monetary policy decision on Thursday, coinciding with its seventh rate-setting meeting of 2026. Market analysts expect the ‘Old Lady’ to increase its policy rate by a quarter percentage point to 4.00%, the highest level since November 2025.
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