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Brazil Industrial Output (YoY) below expectations (5.9%) in October: Actual (5.8%)
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EUR/USD navigates a narrow range on Thursday, hovering around the 1.1800 neighbourhood in a context of humble gains in the US Dollar. The pair’s lacklustre performance come amid the unabated trade uncertainty, geopolitical tensions in the Middle East and the cautious tone from the ECB’s Lagarde.
GBP/USD rebound from session lows but stays below 1.3550 on Thursday. The cautious market stance helps the US Dollar stay resilient against its rivals and makes it difficult for the pair gather recovery momentum. Investors await headlines that will come out of the US-Iran nuclear talks.
Gold trades marginally higher on the day above $5,150 on Thursday as investors refrain from taking large positions. The US and Iran will hold the next round of nuclear talks in Geneva on Thursday, outcome of which could have significant implications for risk perception.
Stellar is trading around $0.16 at the time of writing on Thursday after rebounding more than 8% in the previous day. Derivatives data paints a negative picture as XLM’s short bets hit a monthly high while Open Interest continues to decline.
The FX market is minestrone soup these days. It is befuddled by conflicting data, rumors and small stories exaggerated out of proportion, and Trump-generated uncertainty.
Solana trades at $88 at press time on Thursday, after an 11% upswing the previous day within a broader consolidation range of roughly three weeks. Institutional demand for Solana heightens as US spot SOL Exchange Traded Funds record $30 million of inflow on Wednesday.
