Gold Futures: Further correction not ruled out

EUR/USD comes under pressure and trades just below the 1.1600 figure for the first time in 2026, flirting with multi-week troughs on the back of further improvement in the Greenback. Latest data from the US docket saw Initial Jobless Claims dropping below estimates in the week to January 10.

Tracking its risk-sensitive peers, GBP/USD faces increasing selling interest and extends its slump after breaking through the 1.3400 mark on Thursday. Cable’s daily pullback comes in response to the better tone in the US Dollar as investors assess the latest US data releases, and despite encouraging United Kingdom data published earlier in the day. 

Gold now gives away part of its recent solid advance, receding below the $4,600 region per troy ounce amid the resurgence of the bid bias in the Greenback, higher US Treasury yields and some profit-taking mood.

Monero (XMR) edges lower on Thursday, holding around $700 at the time of writing as the rally cools off after reaching a record high of $800 on the previous day, signaling a potential cycle top.

Jerome Powell's eight-year tenure as Chair of the Federal Reserve is coming to a close during a period of intense pressure on the US central bank and divided views among policymakers about the appropriate stance of monetary policy. 

The cryptocurrency market trades in the red on Thursday after the US Senate Banking Committee (SBC) postponed discussions on crypto market structure following Coinbase's withdrawal of support due to multiple issues.