Fundamental

After economic worries and concerns over the autumn budget had plunged this currency pair by over 200 pips, price action reversed. How much upside is left?

Following Tuesday’s sharp decline, GBP/USD staged a rebound and closed in positive territory on Wednesday. The pair trades in a narrow band at around 1.3450 in the European session on Thursday as market focus shifts to the next batch of macroeconomic data releases from the US.

Historically, how impactful has the US jobs report been on gold’s valuation? In this article, we present results from a study in which we analyzed the XAU/USD pair’s reaction to the previous 35 NFP prints*.

EUR/USD fluctuates at around 1.1650 in the European session after posting marginal gains on Wednesday. The pair’s technical outlook points to a neutral stance in the near term but upcoming macroeconomic data releases from the US could drive the pair’s action in the second half of the day.

Gold (XAU/USD) attracts heavy intraday selling on Thursday and retreats from the record high, around the $3,578-3,579 region touched the previous day. A surge in global bond yields this week shifted focus again to rising debt levels across major economies.

EUR/GBP remains range-bound between 0.86 and 0.8750, with traders watching for a breakout while treating pullbacks near the 50-day EMA as potential buy zones.