Fundamental

The Australian Dollar has been falling in the past hour after forming and rejecting the upper trend line of a multi-day bearish price channel.

EUR/USD stays on the back foot and declines toward 1.1600 in the European session on Thursday after closing the first three days of the week in negative territory. The near-term technical outlook offers no signs of a reversal yet.

The GBP/USD pair turns lower for the third consecutive day and drops to a nearly two-week trough, below mid-1.3300s during the first half of the European session on Thursday amid the emergence of fresh US Dollar (USD) buying.

Gold has managed to defend the key $4,000 level on its retracement from lifetime highs of $4,059 reached on Wednesday. All eyes now turn to a slew of speeches from US Federal Reserve (Fed) officials, including Chairman Jerome Powell, due later in the day.

EUR/USD remained on the defensive on Wednesday, extending its weekly offered bias and testing the key 1.1600 support level. The pair’s weakness comes amid lingering political uncertainty in France and an ongoing US government shutdown, with little sign of compromise in sight.

Spot Gold surpassed the $4,050 threshold on Wednesday, establishing yet another record high. The bright metal kept rallying on the back of global political woes. The United States (US) government shutdown entered its eighth day, without signs of ending anytime soon.