technical

Spot Gold advances for a third consecutive day, hitting an intraday high of $4,765 before retreating some.

The NOK/SEK pair highlights an increasingly clear divergence between two neighboring economies that are often seen as similar, but are exposed to very different drivers. The current context favors the Norwegian Krone (NOK) over its Swedish counterpart, but for how long?

The AUD/USD pair attracts some buyers for the third consecutive day on Thursday and remains within striking distance of its highest level since June 2022, around the 0.7275-0.7280 region, which it touched the previous day.

Gold is gathering pace early Thursday, after having hit one-week highs above $4,700 on Tuesday. Markets remain expectant of a potential US-Iran peace deal being reached, supporting the renewed uptrend in Gold.

The Aussie Dollar is attempting to break above the ongoing multi-day consolidative phase, with AUD/USD reaching fresh yearly peaks near the 0.7300 barrier. For now, the pair’s positive outlook remains unchanged, propped up by elevated inflation in Oz and the RBA’s cautious stance.

Silver edged higher on Wednesday, as optimism put a halt to US Dollar (USD) demand. Market players welcomed headlines indicating that the United States (US) and Iran were closing in on a deal to end the Middle East conflict.