Following Wednesday’s sharp decline, EUR/USD continued to edge lower and closed in negative territory on Thursday. The pair stays on the back foot early Friday and trades slightly above 1.1750.
Gold sticks to recent gains around the $5,000-mark early Friday, biding time before the high-impact US macro events.
EUR/USD’s latest rally looks to be taking a breather just north of 1.1900. That area is acting as a bit of a ceiling for now, with sellers stepping in and slowing the momentum after a decent run higher. Still, the broader bullish narrative has not really changed.
Gold price remains stuck around the $5,000 mark, unable to attract investors despite the market’s mood swings.
The FOMC released the minutes of the last Federal Reserve monetary policy meeting, and the document shed some light on what Kevin Warsh would face as the next Chair. Spoiler: it won’t be easy for him to please Trump’s goal of having lower interest rates.
AUD/USD has come under renewed downside pressure in the past few days, correcting from fresh highs around 0.7150 hit earlier in the month.