The European Central Bank (ECB) cut the interest rates yesterday for the fifth time and voiced concerns about euro area growth and tariff threats.Trump renewed his pledge to impose 25% tariffs on Canada and Mexico, sending the currencies of both countries lower against the US dollar.
Gold hit a fresh ATH yesterday, backed by a swift move to safety due to the Trump's tariff threats, the rising geopolitical tensions, the rising US government debt and the fear of a potential tech rout that could lead to a global risk selloff.
In the tech space, five days into the DeepSeek drama, and ‘hundreds of companies’ – especially those linked to governments – are already limiting access to DeepSeek’s search engine highlighting data security concerns for using a Chinese chat bot that could collect and give information to Chinese authorities. Chip and digital information war between China and the West is entering a new phase and cybersecurity firms will likely see the benefits of it. Crowdstrike, Fortinet and Cloudfare hit fresh ATH levels this week and have potential to attract more capital.
Elsewhere, Meta extended gains to a fresh ATH as well following the announcement of stronger-than-expected earnings on Wednesday, while Apple gained 3% in the afterhours trading after releasing better-than-expected Q4 results and a record high Q4 revenue despite a massive hit from Chinese revenue.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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AUD/USD bears pause for a breather ahead of US PCE data
AUD/USD touched a nearly four-week low on Friday, though it lacks follow-through as traders opt to wait for the release of the US PCE Price Index later during the US session. The crucial US inflation data could offer cues about the Fed's rate-cut path and drive the USD.
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USD/JPY flat-lines below 150.00 after softer Tokyo CPI print
USD/JPY holds steady near the top end of its weekly range following the release of softer-than-expected Tokyo CPI, though it struggles to find acceptance above the 150.00 mark. The BoJ's rate-hike plan, along with a weaker risk tone, underpins the safe-haven JPY and caps the pair amid subdued USD price action.
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Gold price hangs near two-week low; US PCE data awaited
Gold price languishes near a two-week low touched on Thursday as traders await the release of the US PCE Price Index for cues about the Fed's rate-cut path. The crucial inflation data will influence the USD and provide a fresh directional impetus to the non-yielding yellow metal.

SEC clarifies meme coins do not fall under federal securities laws
The Securities & Exchange Commission released an official statement on its website on Thursday, clarifying that meme coins are not subject to federal securities laws.
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February inflation: Sharp drop expected in France, stability in the rest of the Eurozone
Inflation has probably eased in February, particularly in France due to the marked cut in the regulated electricity price. However, this overall movement masks divergent trends. Although disinflation is becoming more widespread, prices continue to rise rapidly in services, in France as well as elsewhere in the Eurozone.
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