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South Korea Producer Price Index Growth (YoY) remains unchanged at 1.9% in December
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The EUR/USD pair loses ground to around 1.1785 during the early European trading hours on Thursday. The Euro softens against the US Dollar as Eurozone inflation declined well below target ahead of the European Central Bank interest rate decision. The German Factory Orders and Eurozone Retail Sales are also due later on Thursday.
GBP/USD extends its losses for the second successive session, trading around 1.3620 during the Asian hours on Thursday. The pair weakens as the Pound Sterling comes under pressure ahead of the Bank of England’s interest rate decision later in the day.
Gold attracts heavy selling following the overnight failure ahead of the $5,100 mark and dives to sub-$4,800 levels during the Asian session on Thursday. The US Dollar climbs to a two-week high and looks to build on its recent goodish recovery move from a four-year low, which, in turn, exerts some downward pressure on the commodity.
Bitcoin price remains under pressure so far this week, with the Crypto King slipping below $73,000 on Tuesday for the first time since November 2024. The price dip in BTC was fueled as the news came in late Tuesday that the US military shot down an Iranian drone that “aggressively” approached the USS Abraham Lincoln aircraft carrier in the Arabian Sea.
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.
Ripple hovers around the $1.60 pivotal level at the time of writing on Wednesday, reflecting stable but weak sentiment across the crypto market. Intense volatility triggered a brief sell-off on Tuesday, driving the remittance token to pick up liquidity at $1.53 before recovering to the current level.
