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.

The Euro has finally made a decision to break out. However, the one problem is that it did it the day before a FOMC press conference. Still a bullish look though.

The CAD/CHF pair isn’t one I focus on a lot, but it could be a good “back door” way of playing the CHF strength, or central bank intervention later.