![Take it with a grain of salt [Video]](https://editorial.fxstreet.com/images/Resources/money-puzzle-gm468893436-62034518_XtraLarge.jpg)
Friday’s market moves were somewhat perplexing. We saw a massive wave of risk on flow and broad based US Dollar selling. There was nothing in the US jobs report to have accounted for such intense moves, and if anything, the numbers continued to support the case for the Fed to keep with its hawkish, less investor friendly approach
Author
Joel Kruger
MarketPunks
Joel is a global macro trader and chief market punk at MarketPunks.
Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.
EUR/USD remains flat after two days of small losses, trading around 1.1740 during the Asian hours on Thursday. On the daily chart, technical analysis indicates a strengthening of a bullish bias, as the pair continues to trade within an ascending channel pattern.
The GBP/USD pair struggles to capitalize on the overnight bounce from the 1.3310 area, or a one-week low, and oscillates in a narrow band during the Asian session on Thursday. Spot prices currently trade around the 1.3370 region, down less than 0.10% for the day, as traders opt to wait on the sidelines ahead of the key central bank event risk and US consumer inflation data.
Gold struggles to capitalize on the previous day's move higher back closer to the $4,350 level and trades with a mild negative bias during the Asian session on Thursday. The downtick could be attributed to some profit-taking amid a US Dollar uptick, though it is likely to remain cushioned on the back of a supportive fundamental backdrop.
Dogecoin trades in the red on Thursday, following a 4% decline on the previous day. The DOGE supply in profit declines as large wallet investors trim their portfolios. Derivatives data shows a surge in bearish positions amid declining retail interest.
While the Fed eased its monetary policy on 10 December for the third consecutive FOMC meeting, without making any guarantees about future action, the BoE, the ECB and the BoJ are holding their respective meetings this week.
Dogecoin (DOGE) trades in the red on Thursday, following a 4% decline on the previous day. The DOGE supply in profit declines as large wallet investors trim their portfolios. Derivatives data shows a surge in bearish positions amid declining retail interest.
