technical

Gold snaps a two-day recovery and turns defensive at around $4,500 early Thursday, having failed to sustain above the $4,600 mark.

EUR/USD is showing tentative signs of recovery after slipping back towards the 1.1400 area, marking yearly lows just a few days ago. That said, as long as the pair remains below the key 200 day Simple Moving Average (SMA) near 1.1670, downside risks are likely to persist in the near term.

Spot Gold hovers around $4,550 in the American session on Wednesday, advancing for a second consecutive day and turning positive for the week. Elevated geopolitical uncertainty took its toll on financial markets in the second half of the day, as Iran seems unwilling to give in to the United States

The upside momentum around the Australian Dollar (AUD) appears to have lost some impulse in the last few days, prompting AUD/USD to surrender part of its recent gains.

Financial markets are stable on Wednesday, with the US Dollar (USD) holding on to weekly lows across the FX board. Speculative interest is cautiously optimistic, as the excitement of a ceasefire in the Iran war fades.

Following the bearish action seen in the first half of the day on Tuesday, EUR/USD staged a decisive rebound in the American session to end the day virtually unchanged.