United Kingdom Gross Domestic Product (MoM) above expectations (0.1%) in November: Actual (0.3%)

EUR/USD remains in the red for the third consecutive session, trading below 1.1650 in the European session on Thursday. The pair loses ground as the US Dollar stays firm following a stronger-than-expected US PPI and Retail Sales data, which reinforced bets for the Fed to keep rates on hold in this quarter. Mid-tier US economic data is next of note for the major. 

GBP/USD holds above 1.3400 in European trading on Thursday after testing the 1.3450 neighborhood. The pair jumped on the upbeat UK growth and industrial data but failed to hold the uptick amid a broadly firmer US Dollar. The focus now turns to the mid-tier US data releases for further directives.

Gold stays defensive above $4,600 on Thursday after hitting a fresh record high of $4,643 in the previous session. The non-interest-bearing Gold pulls back as a stronger-than-expected United States Producer Price Index and Retail Sales helped price out a Fed rate cut in the coming months, keeping the US Dollar underpinned ahead of the US economic data. 

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.