EUR/USD
EUR/USD is trading close to two-month highs near 1.1450, as the US dollar bears take a breather amid a worsening mood. ECB policymakers stay hopeful despite covid woes, citing mixed concerns over inflation. A slew of ECB, Fed members are due to speak amid the US PPI release.
GBP/USD
GBP/USD is defending 1.3700, having hit three-month highs at 1.3720. The US dollar licks its wound amid a risk-off mood. Britain prints record covid infections, UK PM Johnson rejects resignation demands, as political uncertainty creeps in. US PPI and Brexit talks eyed.
USD/JPY
USD/JPY was seen consolidating the overnight post-US CPI slide to a near three-week low. Rebounding US bond yields helped ease the USD bearish pressure. The cautious mood underpinned the safe-haven JPY and capped any meaningful recovery.
AUD/USD
AUD/USD ticks up to refresh multi-day high during thee-day uptrend. Aussie PM Morrison said preventing everyone from getting the virus is not the objective, slams covid parties. Market sentiment dwindles post US inflation, ignores hawkish Fed comments. Fedspeak, US PPI eyed for fresh impulse, virus updates are the key too.
NZD/USD
The Kiwi pair seesaws around 0.6855 after refreshing the highest levels last seen on December 24.
USD/CAD
USD/CAD stays defensive around 1.2500, the lowest level in two months, during Thursday’s Asian session. The Loonie pair pauses the two-day downtrend amid recently hawkish Fedspeak and sidelined prices of Canada’s main export item, namely WTI crude oil.
USD/CHF
USD/CHF pares the heaviest daily losses since late November around 0.9145 heading into Thursday’s European session.
CRUDE OIL
USD/CHF pares the heaviest daily losses since late November around 0.9145 heading into Thursday’s European session.
GOLD
Gold price is consolidating near weekly highs, as the US dollar attempts a bounce in tandem with the Treasury yields this Thursday. Despite the pullback in gold price, the upside bias remains intact, courtesy of a bullish technical setup on the daily chart.
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