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EUR/USD recovers above 1.0300, markets await comments from Fed officials
EUR/USD gains traction and trades above 1.0300 on Thursday despite mixed German Industrial Production and Eurozone Retail Sales data. Retreating US bond yields limits the USD's gains and allows the pair to hold its ground as market focus shifts to Fedspeak.
GBP/USD rebounds from multi-month lows, trades above 1.2300
GBP/USD erases a portion of its daily gains and trades above 1.2300 after setting a 14-month-low below 1.2250. The pair recovers as the UK gilt yields correct lower after surging to multi-year highs on a two-day gilt selloff. Markets keep a close eye on comments from central bank officials.
UPCOMING CALENDAR EVENTS
Editors’ Picks
Gold climbs to new multi-week high above $2,670
Gold extends its weekly recovery and trades at its highest level since mid-December above $2,670. The benchmark 10-year US Treasury bond yield corrects lower from the multi-month high it touched above 4.7% on Wednesday, helping XAU/USD stretch higher.
Bitcoin falls below $94,000 as over $568 million outflows from ETFs
Bitcoin continues to edge down, trading below the $94,000 level on Thursday after falling more than 5% this week. Bitcoin US spot Exchange Traded Funds recorded an outflow of over $568 million on Wednesday, showing signs of decreasing demand.
BNB Price Forecast: Poised for a decline on negative Funding Rate
BNB price hovers around $696.40 on Thursday after declining 4.58% in the previous two days. BNB’s momentum indicators hint for a further decline as its Relative Strength Index and Moving Average Convergence Divergence show bearish signals.