technical

The Australian dollar rally continued, reaching its highest level since 2024 after the US released a strong jobs report.

EUR/USD closed in negative territory on Wednesday as the US Dollar (USD) staged a rebound following the release of the labor market data for January. Early Thursday, the pair moves sideways in a narrow channel below 1.1900.

The GBP/USD pair reverses an early European session dip to the 1.3600 mark touched in the aftermath of mostly disappointing UK macro data, though it lacks follow-through buying or bullish conviction.

Gold is back in the red near $5,050 early Thursday, having faced strong offers at around the $5,100 mark once again. Buyers keep a close eye on the mid-tier US Jobless Claims data and US-Iran geopolitical developments to regain control.

EUR/USD’s rebound seems to have hit some small resistance just north of 1.1900, but the overall picture still points to further gains in the near future, with the immediate goal being the 1.2000 milestone.

Spot Gold remains confined to a limited intraday range on Wednesday, hovering around $5,070 in the American session, ignoring the mixed US Dollar (USD) performance that followed the release of the United States (US) monthly Nonfarm Payrolls (NFP) report.