Japan CFTC JPY NC Net Positions declined to ¥-62.3K from previous ¥-55.9K

EUR/USD rapidly leaves behind four consecutive daily pullbacks, challenging the 1.1700 hurdle in response to the severe sell-off in the Greenback as investors continued to evaluate the Fed’s rate cut and the neutral message from Chief Powell. Next on tap on the docket will be the weekly US labour market report on Thursday.

GBP/USD punched a fresh hole into seven-week highs on Wednesday, rising back into the 1.3400 neighborhood after the Federal Reserve delivered a widely expected third straight interest rate cut. Fed Chair Jerome Powell gave a particularly cautious showing, hinting that the Fed could be poised for another extended “wait and see” period.

Gold price gains momentum to around $4,235 during the early Asian session on Thursday. The precious metal extends its upside after the US Federal Reserve delivered an expected third consecutive interest rate cut and maintained its outlook for just one cut in 2026. Traders will keep an eye on the US weekly Initial Jobless Claims later on Thursday. 

Bitcoin digital asset treasuries are returning to action following a slight recovery in the top crypto. American Bitcoin, co-founded by the Trump brothers, acquired 416 BTC, worth about $38.5 million, since its last update on December 2. The purchase has pushed the company's total holdings to 4,783 BTC as of December 8, making it the 22nd-largest BTC treasury, behind ProCap Financial, according to Bitcoin Treasuries data.

The Federal Open Market Committee’s (FOMC) latest dot plot, released on Wednesday, indicates that interest rates will average 3.4% by the end of 2026, in line with the September projection.

Hyperliquid is trading above $28.00 at the time of writing on Wednesday, after rebounding from support at $27.50. The broader cryptocurrency market is characterised by widespread intraday losses ahead of the Fed monetary policy decision.