The number of US citizens submitting new applications for unemployment insurance rose to 209K for the week ending January 24.
Ripple (XRP) is trading below the $1.90 mark at the time of writing on Thursday, extending its recent decline as bearish technical signals converge with broader macroeconomic headwinds.
Brent crude has surpassed $70 per barrel for the first time since September, driven by rising tensions with Iran and broader geopolitical risks.
The European Commission's economic sentiment indicator rose in January, indicating positive growth prospects for the Eurozone. Inflation expectations have eased but remain above long-term averages.
Another day, another all-time high for Gold (XAU/USD), which has been breaking records for nine consecutive days, showing a dizzying 20% rally in less than two weeks. The pair remains bid on Thursday, as the US Dollar seems unable to perform any significant recovery.
The US Dollar has not been able to strengthen further following the FOMC meeting, where the fed funds rate was kept unchanged. The meeting highlighted a change in the labor market description, indicating signs of stabilization.
EUR/JPY trades around 183.25 on Thursday at the time of writing, virtually unchanged on the day. The cross struggles to extend its recent upside move, as support for the Japanese Yen (JPY) from domestic factors offsets relatively favorable economic data from the Eurozone.
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Societe Generale's report analyzes the EUR/USD pair, noting a significant technical moment as it approaches the 200-day moving average. A close above this level could prompt adjustments in positions and hedging structures.
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Gold (XAU/USD) adds another leg to its relentless rally on Thursday, building on the previous day’s solid gains of 3.87% as increased volatility and ongoing safe-haven demand continue to drive strong inflows into Bullion.
TD Securities' Global Strategy Team highlights upcoming Canadian economic data, including the International Merchandise Trade and Payroll Employment Change. The trade deficit is expected to edge lower to $1.0 billion in November, influenced by headwinds in export activity.
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are trading under pressure at the time of writing on Thursday amid a confluence of weak market sentiment and deteriorating technical structures.
The US Dollar is gaining the upper hand against the Japanese Yen, with both currencies among the worst G8 performers this week.
TD Securities' Global Strategy Team reviews the recent FOMC meeting, where the Federal Reserve maintained rates at 3.50%-3.75%. The statement was marginally hawkish, with Chair Powell indicating that the Fed can be patient and let data guide future decisions.
According to Brown Brothers Harriman (BBH), the Bank of Canada has kept the policy rate unchanged at 2.25% for the second consecutive meeting, adopting a more cautious tone.