Supply and Demand Strategies

EUR/USD has stabilized around 1.19 after the ECB meeting minutes pointed to some caution about expanding the bond-buying scheme. Earlier, the dollar weakened after the Fed signaled openness to more QE. The US holiday implies thin volume.

USD/JPY witnessed some selling on Thursday amid persistent selling surrounding the greenback. COVID-19 vaccine optimism might cap gains for the safe-haven JPY and help limit the downside. Holiday-thinned liquidity conditions could further hold investors from placing fresh bearish bets.

GBP/USD retreats from near 1.3400, undermined by Brexit woes and renewed dollar demand. Doubts arise about Chief EU Negotiator Barnier traveling to London.

Spot gold (XAU/USD) continues its gradual grind higher for a second day, the precious metal having bounced at support at the psychological $1800 mark on Tuesday, following a hefty sell-off at the start of the week that saw spot prices drop from the high $1800s. 

Prices of the WTI met sellers above the $46.00 mark. Demand concerns re-emerge and weigh on sentiment. The EIA reported US crude supplies dropped by 0.754M last week.