US Pre Market Open: 680 pip gain on USD/JPY, 225 pip gain on EUR/CHF

AUD/USD reverses two daily advances in a row, hovering around the 0.7100 zone on the back of the resumption of a firm demand for the Greenback as the NA session draws to a close on Thursday. On Friday, housing data will be the salient event in Oz.
 

EUR/USD has slipped back under pressure, breaking through the 1.1800 support and drifting towards the weekly lows near 1.1770 ahead of the opening bell in Asia. The move reflects renewed strength in the US Dollar, with steady geopolitical tensions keeping its demand firm. Moving forward, the release of the German labour market report and flash inflation figures should keep European investors entertained on Friday.
 

Gold is now facing some downside pressure, hovering around the $5,170 region on Thursday. The yellow metal surrenders part of its earlier gains on the back of the resurgence of the buying interest in the Greenback. In the meantime, geopolitical tensions in the Middle East continue to limit the downside potential for now.

Artificial Intelligence (AI), blockchain technology and stablecoins are emerging as core pillars of a new global economic system, according to Circle’s CEO, Jeremy Allaire.

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Initial Jobless Claims in the week ending February 21 came in at 212K, below economists' expectations of 215K but slightly above the previous reading of 208K. Continuing Claims also declined to 1.833 million, signaling stabilization in labor market conditions.