FxAnalysis

EUR/USD registered small gains on Wednesday but failed to gather recovery momentum. The pair comes under renewed bearish pressure and trades below 1.1600 in the European session on Thursday.

The GBP/USD exchange rate was flat on Thursday as traders focused on new developments in the Middle East, where the war is continuing. It was trading at 1.3375, a few points above this week’s low of 1.3257.

Bitcoin price rebounded and surged to the highest point in over a month as traders embraced a risk-on sentiment.

The AUD/USD exchange rate stabilized as the US dollar pared back some of the recent gains. It also rebounded after Australia released strong Australia GDP data. It was trading at 0.7075, much higher than this week’s low o.6945.

·       Gold builds on Wednesday’s rebound and reverts to $5,200 again early Thursday.

Markets have a peculiar habit of mistaking the first punch for the final bell. Yesterday, Asia looked like a trading desk after a margin clerk walked in unannounced. Today, the same screens are glowing green again as if the crisis were merely a technical glitch rather than a geopolitical storm.