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United States EIA Natural Gas Storage Change came in at -167B, above forecasts (-169B) in December 12
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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 rebounds swiftly following the Asian session fall to sub-$4,800 levels and climbs back above the $4,900 mark in the last hour, though the upside potential seems limited. Wednesday's softer US ADP report pointed to labor market weakness and strengthened the case for interest rate cuts by the Federal Reserve, lending support to the non-yielding yellow metal.
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.
Zcash, Stacks, and BNB (formerly Binance Coin) are among the biggest losers over the last 24 hours as Bitcoin approaches $72,000. The correction is driven by multiple factors, including massive, steady outflows from institutions and large-wallet investors, broader-market risk-off sentiment, and the delay in the Digital Asset Clarity Act.
