Reuters out with the latest headlines, citing that Japan’s PM Abe is likely to hold a news conference at 0900GMT.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
EUR/USD fails to preserve its recovery momentum after rising toward 1.1650 earlier in the day and tests 1.1600. The risk-averse market atmosphere amid the widening conflict in the Middle East and the broad-based US Dollar strength make it difficult for the pair to hold its ground.
GBP/USD stays in negative territory near 1.3350 in the second half of the day Thursday. The Pound Sterling loses ground amid fears that the United Kingdom economy could face stagflation risks due to higher energy prices, while the US Dollar attracts fresh safe-haven demand, weighing on the pair.
Gold turns south in the American session on Thursday and declines toward $5,100. The persistent US Dollar (USD) strength doesn't allow XAU/USD to gather recovery momentum despite markets remain risks-averse due to the deepening conflict in the Middle East.
The cryptocurrency market is gaining strength on Thursday, building on Wednesday's upswing, which saw Bitcoin reach a weekly high above $74,000. Ethereum and Ripple are moderating their recent gains amid uncertainty stemming from the escalating war in the Middle East.
There’s been an abrupt change in sentiment this morning, European stock markets are higher and oil and gas prices are moderating, after comments from Iran’s deputy minister about pre-conflict talks between Iran and the US.
Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.
