On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 7.0638 compared to the previous day's fix of 7.0686.
The USD/CAD pair is seen oscillating in a narrow range during the Asian session on Friday and consolidating its recent heavy losses to the lowest level since September 17, which it touched the previous day.
The NZD/USD pair trades in positive territory near 0.5815 during the early Asian session on Friday. Weaker-than-anticipated US employment data weigh on the Greenback against the New Zealand Dollar (NZD).
The AUD/USD pair regains some positive traction following the previous day's two-way price move and holds steady above mid-0.6600s during the Asian session on Friday.
Gold price (XAU/USD) rises to seven-week highs near $4,275 during the early Asian session on Friday. The precious metal extends its upside as the US Federal Reserve’s (Fed) quarter-point rate cut drags the US Dollar (USD) lower.
GBP/USD is holding firmly in bullish territory heading into the tail end of the week, but Cable bidders ran into a technical resistance point at the 1.3400 handle on Thursday.
The USD/JPY pair attracts some sellers to around 155.60 during the early Asian session on Friday. The US Dollar (USD) edges lower against the Japanese Yen (JPY) amid worse-than-anticipated US employment data and a less hawkish outlook than expected from the US Federal Reserve (Fed).
EUR/USD advances during the North American on Thursday up 0.41% after the Fed decided to cut rates, alongside the release of weaker than expected job data in the United States (US). At the time of writing, the pair trades at 1.1742 after bouncing off daily lows of 1.1682.
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Silver surges 11% in three days driven by a "perfect storm" of shortages and industrial demand. Meanwhile, Gold breaks key resistance as US debt fears fuel a 60% yearly rally.
The US Dollar (USD) attempted a recovery throughout the first half of Thursday, but resumed its decline following the release of worse-than-anticipated employment data. Initial Jobless Claims for the week ended December 6 unexpectedly rose to 236K, well above the previous 192K.
Gold (XAU/USD) skyrockets on Thursday after the Federal Reserve (Fed) cut rates as expected on Wednesday, and even though it hinted at a pause in the easing cycle, it was not an excuse for the rally in precious metals.
The Australian Dollar (AUD) rebounds sharply against the US Dollar (USD) on Thursday, shrugging off earlier weakness triggered by softer-than-expected Australian employment data as selling pressure on the Greenback intensifies following weaker US Initial Jobless Claims.
The Dow Jones Industrial Average (DJIA) surged to a fresh record on Thursday as investors rotated out of pressured tech names and into stocks tied more closely to economic growth following the Federal Reserve’s (Fed) latest interest rate cut.
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NZD/USD trades around 0.5820 on Thursday at the time of writing, up 0.10% on the day, consolidating above the key 0.5800 level reached the previous day, its highest point in more than two months.
The Euro (EUR) extends its advance against the US Dollar (USD) on Thursday as the Greenback slides to multi-week lows following the latest US Initial Jobless Claims release. At the time of writing, EUR/USD is trading around 1.1748, its highest level since October 3.
The British Pound (GBP) trades on the backfoot against the Japanese Yen (JPY) on Thursday, as the Yen strengthens broadly on growing expectations of a Bank of Japan (BoJ) rate hike next week.
The Pound Sterling (GBP) rallies during the North American session on Thursday, up over 0.68% after the Federal Reserve (Fed) delivered a 25-basis-point rate cut and a softer-than-expected jobs report, which weighed on the US Dollar (USD).
The number of Americans filing for new unemployment benefits increased to 236,000 in the week ending December 6, the US Department of Labor (DOL) reported on Thursday.
In my Dow Jones futures analysis video, I review the bull flag structure as the key guiding element, the FOMC driven breakout and retest, and key level 47,875. Also what the Fed’s latest decision may mean for the Dow Jones. Remember that volatility around the FOMC, including today, is not abnormal.
The UK division of 4T Markets Limited recorded a small profit of £141 for the financial year ending 31 March 2025. The figure marks a turnaround from the previous year’s £17,380 loss.
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