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Eurozone HCOB Manufacturing PMI above expectations (49) in January: Actual (49.4)
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FXStreet Team
FXStreet
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EUR/USD rapidly reverses course and hits fresh YTD tops near 1.1780 at the end of the week. The pair’s U-turn comes on the back of the intense sell-off in the Greenback amid the generalised risk-on context.
GBP/USD is building on its solid weekly advance and is pushing toward the 1.3600 hurdle on Friday, or new four-month peaks. Cable’s strong move higher comes as the Greenback intensifies its decline, while auspicious results on the UK calendar also collaborate with the uptrend.
Gold prices keep their uptrend well in place and gear up for an imminent hit to the key $5,000 mark per troy ounce on Friday. The yellow metal’s sharp advance gathers pace amid the increasing weakness in the US Dollar and mixed US Treasury yields across the curve.
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Bitcoin price struggles below $90,000 on Friday, correcting nearly 5% so far this week. Trump’s Davos speech on Wednesday, backing away from imposing further tariffs on the EU, triggered market volatility and risk-on mood.
