The Euro posts moderate gains on Thursday, trading a few pips below the 1.2000 line at the time of writing, after bouncing from lows near 1.1900 on Wednesday.

The USD/CAD pair remains under some selling pressure for the third consecutive day and drops to a fresh low since October 2024, closer to the 1.3500 psychological mark, during the early European session on Thursday.

Gold is keeping its corrective decline intact toward $5,500 early Thursday after having tested $5,600 for the first time on record amid relentless buying.

EUR/USD comes under some fresh selling pressure following overbought levels and helped by the recovery in the US Dollar. Despite the decline, the outlook for the single currency remains positive at the beginning of the year.

Despite the small pullback, the outlook for AUD/USD remains tilted to extra gains in the short-term horizon, helped by renewed weakness in the Greenback and the likelihood of an interest rate hike by the RBA at its gathering on February 3.

Spot Gold is up for the eighth consecutive day, extending its record run to yet another all-time high of $5,311 on Wednesday. The US Dollar (USD) collapsed early in the day following comments from United States (US) President Donald Trump.