EUR/USD battles for direction following inflation gauges. The EU reported softer-than-anticipated price pressures in October, while the US Core Personal Consumption Expenditures - Price Index came in at 3.5% YoY as expected, easing from 3.7% in the previous month.
GBP/USD slid towards the 1.2650 region in European trading hours on Thursday, holding nearby after the release of US PCE inflation. The annual reading matched investors' expectations at 3.5%, while monthly inflation in the US stood at 0.2%, also in line with the market forecast.
Gold price (XAU/USD) struggles to gain any meaningful traction on Thursday and consolidates its recent strong gains to its highest level since May 5 touched the previous day. US Dollar gaining modest traction on encouraging inflation gauges.
Bitcoin Spot ETFs could see a batch approval in January. Eric Balchunas, a Bloomberg ETF analyst shared details of an updated application by asset manager BlackRock.
WTI Oil clings on to 1% gains as OPEC+ meeting enters next phase. The US Dollar is roaring back after a few days of substantial weakness. Oil very volatile ahead of a possible OPEC+ outcome later this Thursday.