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Bitcoin derivatives data shows a positive outlook, with CoinGlass BTC's Open Interest rising by 8.07% to $79.45 billion, close to its May 23 record high. This indicates more money entering the market and new purchasing, potentially fueling the BTC price surge.
EUR/USD tumbles to new lows near 1.1650
The selling pressure on the EUR/USD now gathers extra steam and sends the pair to the 1.1650 zone, or two-week lows on Thursday. The surprisingly good weekly readings from the US employment market statistics, coupled with hawkish remarks from the Fed’s Musalem, boost the US Dollar and put the risk complex under further strain.
Gold trims gains, holds on above $3,300
Gold reduces its earlier advance and comes close to the $3,300 mark per troy ounce on Thursday. The benchmark US 10-year rates have steadied following a large decline the day before, posing problems for XAU/USD in its bid to climb higher.
GBP/USD deflates to two-week lows near 1.3530
GBP/USD is under further downside pressure, falling into the 1.3530 zone on the back of the stronger Greenback and the broad-based cautious stance in the market. Solid US data and supportive Fedspeak allows the US Dollar to pick up further pace, weighing down on the risk-associated universe.
New US tariffs target Asia, but some countries stand to gain
President Trump’s new tariffs are higher than expected for most Asian economies. Moreover, most countries will face additional tariff rates on transshipments. The new announcements are silent on Singapore, India and the Philippines, which might stand to benefit from tariff concessions if negotiations progress favourably.
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