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Editors’ Picks
EUR/USD runs past 1.1730 after tepid US macroeconomic figures
EUR/USD extends its gains and trades above 1.1730 in the American session on Thursday. The US Dollar resumed its decline, following much weaker-than-expected Initial Jobless Claims. Market players bet for additional rate cuts despite a mildly hawkish Fed.
GBP/USD ticks north beyond 1.3400 after US employment data
GBP/USD ticks beyond 1.3400 in the American session on Thursday, as the US Dollar is back on the losing side, following worse-than-anticipated US employment-related figures. The US Federal Reserve delivered a rate cut at its December meeting, in line with the market’s expectations.
Gold on its way to retest record highs
Broad US Dollar weakness helps the bright metal to extend weekly gains. The XAU/USD pair trades above $4,250, its highest for the week and not far from its record high in the $4,380 region. The Greenback came under selling pressure on Wednesday following the Federal Reserve's monetary policy announcement, further pressured on Thursday by softer-than-anticipated United States employment data.
Solana dips as hawkish Fed cuts dampen market sentiment
Solana price is trading below $130 on Thursday, after being rejected at the upper boundary of its falling wedge pattern. The broader market weakness following the Federal Reserve’s hawkish rate cut has added to downside momentum.
FOMC Summary: A split cut and a clear shift toward caution
The Federal Reserve (Fed) went ahead with a 25 basis points rate cut, taking the target range to 3.50–3.75%. But the tone around the decision mattered just as much as the move.
What to watch on Friday, December 12:
The US Dollar attempted a recovery throughout the first half of Thursday, but resumed its decline following the release of worse-than-anticipated employment data. Initial Jobless Claims for the week ended December 6 unexpectedly rose to 236K, well above the previous 192K.