Market News
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British Pound: Resilient data backs BoE hikes – BBH
Elias Haddad at Brown Brothers Harriman (BBH) reports that the Pound (GBP) showed limited reaction to solid UK Q3 GDP, with 0.7% q/q growth driven by consumption and investment.
Japanese Yen finds relief as officials warn against rapid currency moves
USD/JPY trades slightly lower on Thursday after climbing to 159.94, its highest level in more than two months.
EUR/GBP Price Forecast: Consolidating above 0.8350 after rejection at 0.8370
The Euro (EUR) is consolidating at a slightly higher range against the British Pound (GBP) this week, mainly favoured by the lower Oil prices, although the broader trend is still showing a capped tone.
AUD/USD Price Forecast: Breakdown of H&S pattern keeps the pair under pressure
The Australian Dollar (AUD) underperforms its currency peers on Thursday, trading 0.15% down at around 0.6833 against the US Dollar (USD) during the European trade.
Canadian Dollar picks up from four-week lows as the US Dollar loses steam
The Canadian Dollar (CAD) posts marginal gains on Thursday as the US Dollar (USD) retreats from recent highs against most peers in a quiet market session.
Gold slips to fresh yearly low as Fed hike bets build and US stocks slide
Gold (XAU/USD) slides to a fresh year-to-date low on Thursday as bets on more aggressive Federal Reserve (Fed) rate hikes lift the US Dollar (USD). At the time of writing, XAU/USD trades around $3,853, down more than 3% on the day.
US 10-year yield: Up move eyes 5.36% – Societe Generale
Societe Generale’s rates team notes a sharp advance in 10‑year US Treasuries after defending key trendline support near 4.81%, with yields now challenging the 50‑day moving average. The bank sees scope for consolidation between 4.81% and 5.05%, but if resistance breaks, a larger move towards the 5.16%–5.18% gap and October’s high around 5.36% is envisaged.
US Dollar Index (DXY) trims gains after hitting 19-month highs at 103.08
The US Dollar Index (DXY) has reversed previous daily gains, returning to levels below 103.00 after hitting fresh 19-month highs at 103.08 earlier in the day.
USD/JPY: Intervention risk near 160 – Societe Generale
Societe Generale notes USD/JPY trading just below 160, with Japan’s Ministry of Finance warning markets not to forget FX intervention risks as yields and Dollar strength persist.
Iran conflict: US strategy split and blockade risks – Rabobank
Rabobank’s Global Daily outlines diverging US positions on Iran, with Vice-President Vance exploring direct talks while President Donald Trump criticises the existing MoU and demands “total victory.”
EUR/USD: Slippery slope if 1.10 breaks – Societe Generale
Societe Generale’s Kenneth Broux highlights renewed Dollar strength pressuring EUR/USD towards the key 1.10 level, with the pair already below its 200-week moving average and challenging the May 2025 trough.
Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Thursday, according to FXStreet data. Silver trades at $50.91 per troy ounce, down 1.57% from the $51.72 it cost on Wednesday.
Oil: Hormuz mine strikes support Brent rebound – Commerzbank
Commerzbank Research highlights escalating tensions in the Strait of Hormuz, with reported mine strikes on tankers and disrupted LNG flows, as a key driver of Oil’s rebound.