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EUR/USD breaks below 1.0700 to test a throwback support
EUR/USD recovers its losses from the previous two sessions, trading around 1.0690 during the Asian session on Thursday. A technical analysis of the daily chart indicates a bearish bias, with the pair consolidating within a descending channel.
USD/JPY retreats to near 160.50 on Japanese verbal warnings, risk aversion
USD/JPY pulls back to near 160.50 in the Asian session on Thursday, eroding a part of Wednesday's upsurge. The pair is dragged down by broad risk aversion and Japanese verbal intervention, supporting the Japanese Yen. The focus now is on potential FX intervention and US data.
Gold struggles with $2,300, not out of the woods yet
Gold price is languishing in two-week lows just shy of the $2,300 level early Thursday, with buyers lacking conviction due to the sustained strength in the US Treasury bond yields.
Solana price poised for a 10% rally
Solana price breaks out of the descending channel pattern, signaling a bullish move. Sideline buyers can accumulate SOL at the trendline retest level of around $132.34. A daily candlestick close below $122.00 would invalidate the bullish thesis.
Indices fall back as inflation worries return
Higher inflation in Australia has not helped matters, and raises the uncomfortable prospect that major bugbear of the past two years is set to make an unwelcome return, leading to rate hikes once again.