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Eurozone HCOB Composite PMI registered at 52.8 above expectations (52.4) in November
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FXStreet Team
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EUR/USD remains on the back foot on Thursday, trading close to the 1.1800 support ahead of the opening bell in Asia. The pair’s pullback comes amid further gains in the Greenback, while investors keep assessing the ECB’s decision to leave its policy rates unchanged
GBP/USD extends Wednesday’s pullback on Thursday, easing lower towards two week lows around the 1.3530 area. Ongoing strength in the Greenback and the dovish hold from the BoE at its earlier meeting are keeping demand for the British Pound on the defensive for now.
Gold is back under pressure on Thursday, slipping back towards the $4,800 region per troy ounce. A firmer US Dollar is weighing on the yellow metal, even as the broader mood remains risk off. That said, falling US Treasury yields across the curve are helping to cushion the downside and, for now at least, are limiting the depth of the pullback.
Strategy (MSTR), the largest corporate holder of Bitcoin (BTC), is in focus ahead of its earnings call on Thursday amid an intensifying crypto market sell-off. Also caught in the headwinds is the MSTR stock, trading at $114 at the time of writing, down over 12% intraday.
Tech just got hit with a different kind of selloff. Not the usual rates tantrum, not a recession whisper, not even an earnings miss in the classic sense. This was the market staring into an AI mirror and recoiling at its reflection.
Bitcoin (BTC) price dips below $70,000 on Thursday, having corrected nearly 20% for this year. Market momentum turned extremely bearish, with technical indicators pointing to further downside toward the next key support at $65,000.
