Analyzes

EUR/USD fell to key support at 1.1680 after Eurozone inflation hit 2%, with traders watching U.S. jobs data to determine the next breakout direction.

The GBP/USD pair is seen extending its retracement slide from the 1.3565-1.3570 region or its highest level since September 18, touched earlier this week, and trading with a negative bias for the third straight day on Thursday.

EUR/USD closed in negative territory on Wednesday as the US Dollar (USD) managed to stay resilient against its rivals in the second half of the day. The pair moves sideways below 1.1700 in the European morning on Thursday but the technical outlook doesn’t yet point to a recovery attempt.

Gold is nursing losses near $4,450 in Asian trading on Thursday, having suffered about a 1% correction from weekly highs of $4,500 on Wednesday. All eyes remain on the geopolitical developments and the incoming US jobless claims data for fresh trading directives.

EUR/USD’s ongoing bearish leg appears to have met some initial contention near 1.1670 as markets remain in a wait-and-see mode ahead of Friday’s critical NFP data.

The bright metal trades with a softer tone on Wednesday, with XAU/USD now hovering in the $4,460 price zone.