Analyzes

The Australian Dollar (AUD) kept sliding on Thursday, with AUD/USD hovering near three-week lows around 0.6540. That makes it three straight days in the red.

The EUR/USD pair consolidated losses throughout the first half of Thursday, not far above the Monday low at 1.1726. The US Dollar (USD) relief recovery paused ahead of the release of United States (US) data early in the American session, resuming afterwards and sending the pair to fresh weekly lows.

The GBP/USD pair attracts some buying on Thursday and recovers a part of the previous day’s losses to the 1.3425 region, or a nearly three-week trough.

Following a bullish start to the week, EUR/USD came under bearish pressure on Wednesday and fell more than 0.6%, erasing its weekly gains in the process. The pair holds steady at around 1.1750 in the European session on Thursday as investors gear up for macroeconomic data releases from the US.

Gold is struggling to reverse the previous day’s correction from record highs of $3,791 in Thursday’s Asian trades, eagerly awaiting the mid-tier US data and more speeches from Federal Reserve (Fed) officials for a fresh trading impulse.

Gold retreated from all-time highs after dollar stabilization, but the bullish trend holds with key support at $3,650 and upside targets toward $3,800–$3,835.