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United States EIA Natural Gas Storage Change came in at -360B, above forecasts (-379B) in January 30
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EUR/USD trades on the defensive, slipping back below the 1.1800 support on Thursday, all in response to decent gains in the US Dollar. Earlier on Thursday, the ECB matched consensus and left its policy rates unchanged, while President Largarde delivered quite a neutral press conference.
GBP/USD extends Wednesday’s pullback on Thursday, easing lower towards two week lows around the 1.3530 area. Ongoing strength in the Greenback and the dovish hold from the BoE at its earlier meeting are keeping demand for the British Pound on the defensive for now.
Gold is back under pressure on Thursday, slipping back towards the $4,800 region per troy ounce. A firmer US Dollar is weighing on the yellow metal, even as the broader mood remains risk off. That said, falling US Treasury yields across the curve are helping to cushion the downside and, for now at least, are limiting the depth of the pullback.
The crypto market is in turmoil as aggressive selling continues across the board, triggering liquidations and leaving investors counting losses. Bitcoin (BTC) tumbled below the $70,000 mark on Thursday, after erasing the post US election surge.
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.
Bitcoin (BTC) price dips below $70,000 on Thursday, having corrected nearly 20% for this year. Market momentum turned extremely bearish, with technical indicators pointing to further downside toward the next key support at $65,000.
