The USD/JPY pair posts modest gains near 158.65 during the early Asian trading hours on Friday. The US Dollar (USD) strengthens against the Japanese Yen (JPY) as US Initial Jobless Claims fall. The US December Industrial Production report is due later on Friday.
EUR/USD fell to a new yearly low beneath 1.1600 on Thursday, courtesy of solid economic data in the US and broad US Dollar strength. Traders’ appetite improved due to Trump moderating his rhetoric on Iran, while data in the Eurozone, failed to underpin the shared currency.
Gold prices retreat on Thursday amid a de-escalation of US President Donald Trump’s rhetoric over Iran. Also, solid jobs data in the US prompted investors to trim Federal Reserve (Fed) rate cut bets. At the time of writing, XAU/USD trades at $4,609.
Federal Reserve (Fed) Bank of Kansas City President Jeffrey Schmid said that he prefers to keep the monetary policy modestly restrictive as cutting rates could worsen the inflation situation at the Economic Club of Kansas City on Thursday.
The US Dollar Index is trading near the 99.35 price region, trimming half its gains late in the American session on Thursday, supported by encouraging United States (US) data.
West Texas Intermediate (WTI) edges lower on Thursday, giving back this week’s gains as geopolitical risk premiums fade after US President Donald Trump softened his rhetoric on Iran, easing fears of imminent military action.
Silver (XAG/USD) trades around $91.70 per ounce on Thursday at the time of writing, down 1.70% on the day, after having reached a new all-time high close to $94 earlier in the day. The white metal is correcting from recent record levels amid profit-taking and a partial retreat in safe-haven demand.
Ethereum (ETH) treasury firm Bitmine Immersion (BMNR) said it will invest $200 million in Beast Industries, the company founded by YouTube creator Jimmy Donaldson, popularly known as MrBeast, according to a statement on Thursday.
USD/CAD trades around 1.3900 on Thursday at the time of writing, up 0.10% on the day. The move is mainly driven by renewed strength in the US Dollar (USD), supported by solid US macroeconomic indicators, while the Canadian Dollar (CAD) is weighed down by the pullback in Oil prices.
The British Pound loses ground against the Greenback on Thursday as solid economic data in the US, trump an upbeat Gross Domestic Product (GDP) report in the UK. At the time of writing, the GBP/USD trades at 1.3367, down 0.53%.
The Japanese Yen (JPY) treads water against the US Dollar (USD) on Thursday, as USD/JPY lacks strong follow-through buying amid lingering intervention risks tied to excessive Yen weakness.
BNB is trading sideways above support at $900 at the time of writing on Thursday, after a correction from the previous day’s high of $954. Retain interest in the exchange native token has also narrowed, suggesting that investors have been quick to book profits.
The Euro (EUR) is soft within its recent range while still trading just above the Friday/Monday lows, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
The Canadian Dollar (CAD) is soft and entering Thursday’s NA session with a modest decline vs. the US Dollar (USD), Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
The Euro (EUR) weakens further against the US Dollar (USD) on Thursday as the Greenback extends its advance following the release of weekly US labor-market data. At the time of, EUR/USD
AUD/USD trades around 0.6680 on Thursday at the time of writing, virtually unchanged on the day, as investors digest a batch of encouraging US economic data alongside mixed signals from Australia.
Federal Reserve Bank of Atlanta President Raphael Bostic commented that he believes inflation pressures will continue throught the year and that many businesses are still incorporating tariffs into prices at the Metro Atlanta Chamber's Board of Directors meeting on Thursday.
Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee said that Despite the low claims data there is still strength in the job market at an interview with CNBC on Thursday
The British Pound (GBP) weakens against the Japanese Yen (JPY) on Thursday as renewed intervention speculation lends support to the Yen after its recent slump. At the time of writing, GBP/JPY hovers near 212.35, extending losses for a second consecutive day while holding near multi-year highs.
West Texas Intermediate (WTI) US Oil retreats for a second consecutive day and trades around $59.20 per barrel on Thursday at the time of writing, down 1.60% on the day. Crude Oil prices remain under pressure as concerns about a potential US military action against Iran gradually fade.