EUR/USD Price Analysis: Scope for extra weakness near term.

EUR/USD manages to regain some poise and revisits 1.0580.Further losses could see the YTD low near 1.0480 retested.EUR/USD regains some buying interest and advances to the 1.0580/85 band following two daily drops in a row.

The continuation of the downtrend seems favoured for the time being. Against that, the pair could dispute the 2023 low at 1.0481 (January 6) once the March low at 1.0524 (March 8) is cleared. Further losses are expected to retest the minor support at 1.0443 (weekly low December 7 2022).

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0324.

EUR/USD clings to gains above 1.0550 amid softer US Dollar

EUR/USD continues to trade in positive territory above 1.0550 on Thursday. The US Dollar stays on the back foot after the data from the US showed that the weekly Initial Jobless Claims rose to 211,000 last week, compared to the market expectation of 195,000.


GBP/USD recovers above 1.1900 after US data

GBP/USD has gathered recovery momentum and advanced above 1.1900 in the early American session on Thursday. With the data from the US revealing a bigger than expected increase in the weekly Initial Jobless Claims, the US Dollar came under renewed bearish pressure.


Gold extends rebound toward $1,820 as US yields push lower

Gold price extended its rebound and surpassed $1,825 in the second half of the day on Thursday. After the data from the US showed a large increase in weekly jobless claims, the benchmark 10-year US Treasury bond yield turned south, helping XAU/USD gain traction. 

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