Gold (XAU/USD) trades under pressure on Thursday as a stronger US Dollar (USD) and rising Treasury yields cap upside attempts. At the time of writing, XAU/USD trades around $5,113, down nearly 1.20% on the day.
Gold (XAU/USD) trades under pressure on Thursday as a stronger US Dollar (USD) and rising Treasury yields cap upside attempts. At the time of writing, XAU/USD trades around $5,113, down nearly 1.20% on the day.
The new Supreme Leader of Iran, Mojtaba Khamenei, said that attacks on neighboring country military bases will inevitably continue, also adding that “Iran will not refrain from avenging the blood of its martyrs”.
The Swiss Franc (CHF) is experiencing marked losses against both the Euro (EUR) and the US Dollar (USD) as the American session draws to a close on Thursday.
West Texas Intermediate (WTI) crude Oil continues to experience extreme volatility, with prices rising more than 7.5% on Thursday as traders grow increasingly concerned about prolonged supply disruptions through the Strait of Hormuz amid the ongoing US-Iran war.
The US Dollar (USD) picks up further pace on Thursday, largely exceeding the 99.00 hurdle to hit fresh multi-month tops while nearing the psychological 100.00 hurdle on the US Dollar Index (DXY).
NZD/USD trades lower on Thursday, hovering around 0.5860 at the time of writing and down 0.90% on the day. The pair is posting a third consecutive daily decline, pressured by renewed strength in the US Dollar (USD) and rising geopolitical tensions.
The GBP/USD pair is trading near the 1.3350 level, losing ground for the third consecutive day amid intensifying tensions in the Middle East.
National Bank of Canada (NBC) analysts note that Canada’s merchandise trade deficit widened sharply in January, reaching its largest level in five months, mainly due to temporary disruptions in the automotive sector.
The Canadian Dollar (CAD) edges lower against the US Dollar (USD) on Thursday, pressured by sustained demand for the Greenback amid the ongoing US-Iran war. At the time of writing, USD/CAD is trading around 1.3621, extending its rebound after falling to one-month lows near 1.3525 earlier this week.
The Japanese Yen (JPY) trades under pressure against the US Dollar (USD) on Thursday, with USD/JPY returning to levels that previously triggered official “rate checks” by Japanese authorities on January 23, reviving concerns about potential currency intervention.