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EUR/USD breaks through 100-hour SMA as bears await acceptance below 1.1900
The EUR/USD pair attracts fresh sellers following the previous day's good two-way price swings and retests sub-1.1900 levels during the Asian session on Friday. Spot prices, however, recover around 25 pips from the daily low and currently trade around the 1.1920-1.1925 region, down 0.35% for the day.
GBP/USD softens to near 1.3750 as US Senate advances spending deal to avoid shutdown
The GBP/USD pair attracts some sellers near 1.3760 during the early European session on Friday. The US Dollar edges higher against the Pound Sterling after US President Donald Trump and Senate Democrats struck a deal to avoid a US government shutdown. Traders will keep an eye on the US Producer Price Index data later on Friday.
Gold declines as government funding deal boosts USD and prompts profit-taking
Gold is witnessing heavy liquidation for the second straight day on Friday, following the parabolic rise of more than 25% since the beginning of this month and a series of record highs set over the past two weeks or so. The US Dollar gains some positive traction amid the optimism over a Senate deal to fund the federal government through the remainder of the fiscal year.
Stellar deepens correction, slipping to 3-month low as risk-off mood persists
Stellar continues to trade in the red, slipping below $0.20 on Friday, a level not seen since mid-October. Bearish sentiment intensifies amid falling Open Interest and negative funding rates in the derivatives market. On the technical side, weakening momentum indicators support further correction in XLM.
Microsoft sell-off etches $400 billion hole in market, second highest on record Premium
Microsoft's (MSFT) post-earnings cratering on Thursday sent other indices into pullback mode despite the narrow nature of its weakness.
Here is what you need to know on Friday, January 30:
Financial markets were choppy on Thursday, with significant volatility during US trading hours. In the absence of other news, the focus was on United States (US) President Donald Trump, who said on Truth Social that the Federal Reserve (Fed) should substantially lower interest rates: “now!