Hot Market News
⚪️ EUR/USD is holding steady above 1.0900 in the early European morning. The US Dollar consolidates near multi-month lows amid weaker Treasury yields and a cautious risk tone. Investors refrain from placing fresh bets on EUR/USD ahead of the critical US GDP release. Source: fxstreet.com
⚪️ GBP/USD is struggling to extend the previous gains at around 1.2400 heading into Thursday’s London open. The US Dollar is licking its wound alongside weaker US Treasury yields amid dovish Fed bets and pre-US GDP anxiety. Source: fxstreet.com
🔴 USD/JPY pair edges lower for the third successive day and touches a fresh weekly low, around the 129.00 mark during the Asian session on Thursday. A combination of factors lends some support to the Japanese Yen (JPY) and acts as a headwind for the major amid subdued US Dollar price action. Source: fxstreet.com
🟢 AUD/USD clings to mild gains above 0.7100 as bulls take a breather after refreshing the five-month high during early Thursday in Europe. The Aussie pair traders cheer the Hong Kong’s resumption of trading after five days, as well as hawkish hopes of the Reserve Bank of Australia (RBA) after the previous day’s strong Aussie inflation data. Source: fxstreet.com
🟢 USD/CAD: Further upside hinges on 1.3450 breakout. USD/CAD picks up bids to refresh intraday high. Bulls jostle with a convergence of the 21-DMA and two-week-old resistance line. MACD teases buyers, 100-DMA appears a tough nut to crack for the USD/CAD bears. Source: fxstreet.com
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