EUR/USD is finding it tough to build on Wednesday’s gains, briefly pushing through the key 1.1600 mark on Thursday before stalling. The move extends the bounce from recent multi-day lows, even as the US Dollar (USD) continues to strengthen and both US and German yields tick higher.
The XAU/USD pair trades with a better tone on Thursday, holding on to intraday gains in the $4,140 region. The US Dollar (USD) came under modest selling pressure after Wall Street’s opening, despite the better tone of American indexes, all trading in the green at the time of writing.
The Australian Dollar (AUD) regained balance on Thursday, reversing two consecutive days of losses and breaking above the 0.6500 barrier once again, hitting two-day highs.
The EUR/USD pair trades uneventfully around the 1.1600 level, confined to a tight range for a second consecutive day, amid the absence of a relevant catalyst. The United States (US) government shutdown continues, which means no relevant macroeconomic data is being released.
EUR/USD remains under bearish pressure as traders await US inflation data, with support at 1.1570 and resistance near 1.1730 potentially shaping the next move.
Gold (XAU/USD) remains in a bullish trend despite sharp profit-taking, with prices stabilizing near key psychological support at $4,000.