AUD/AED Exchange rate

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. 

The EUR/USD's selling pressure remains well and sound on Thursday, with spot now attempting to ratake the 1.1700 hurdle following earlier troughs in the mid-1.1600s.   The unusually strong weekly readings from the US labour market figures, along with hawkish words from the Fed's Musalem, lend support to the US Dollar and put the risk complex under intense pressure.

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.

Sellers continue to hurt the British pound and relegate GBP/USD to the 1.3570 zone in the latter part of Thursday’s session. The move lower in Cable comes in response to the resurgence of the buying interest in the Greenback, while prudence also kicks in ahead of Friday’s slew of UK data releases.

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.