Analyzes

The British pound rallied on Thursday after the Bank of England paused rate hikes, but the broader downtrend persists with key resistance at 1.32 and support at 1.30.

The U.S. dollar failed to hold gains against the Mexican peso, resuming its broader downtrend as traders eye 18.20 as a potential target in the coming weeks.

Gold is looking to find a strong foothold above the $4,000 threshold early Friday, with buyers returning in tandem with safe-haven flows.

EUR/USD extends its rebound beyond 1.1500 the figure on Thursday, building on the previous day’s recovery and putting further distance from recent lows around 1.1470.

Spot Gold enjoyed near-term demand throughout the first half of the day, peaking at $4,019.66 on Thursday. The XAU/USD pair changed course after the American opening, as Wall Street plunged, fueling demand for the US Dollar (USD), particularly against safe-haven and commodity-linked rivals.

The Australian Dollar (AUD) rapidly faded Wednesday’s gains, forcing AUD/USD to resume its weekly move lower and to slip back below the key 0.6500 support zone once more.