Copper price failed to settle for long time above $5.9700 barrier, affected by stochastic exit from the overbought level, to reach $5.8800 again, which increases the chances of activating temporary negative corrective trading, facing new bearish pressures that will force it to decline towards $5.6000 reaching extra support at $5.5100.
While the price success in surpassing the barrier and holding above it will reinforce it to record new historical gains by its rally towards $6.1200 and $6.2050.
The expected trading range for today is between $5.7500 and $6.000
Trend forecast: Fluctuated within the bullish trend
EUR/USD depreciates for the third consecutive day on Thursday, trading right above 1.1630 at the time of writing, with the one-month low, at 1.1618, coming closer. Strong US macroeconomic figures and easing concerns about the US Federal Reserve’s autonomy are underpinning support for the Greenback.
US data released on Wednesday revealed a larger-than-expected acceleration in producer prices, and a strong rebound in retail consumption in November, providing further reasons for the US Federal Reserve (Fed) to keep interest rates unchanged in the coming months.
Meanwhile, US President Trump calmed markets, assuring in an interview with Reuters that he has no plan to oust Chairman Jerome Powell, despite the criminal investigation against him. Investors’ concerns about the Fed’s independence sent the US Dollar (USD) tumbling earlier in the week and prompted most of the world’s central bankers to sign a statement defending Powell.
Trump also said that he believes that the killings of protesters in Iran have subsided, which lessens the chance of a military intervention against the Islamic Republic. This has eased some of the risk aversion seen over the last few days.
In the European docket, the focus will be on November’s Industrial Production figures. In the American session, the NY Empire State and the Philadelphia Fed manufacturing reports will attract some attention ahead of more speeches from Fed policymakers.
Technical Analysis
The EUR/USD trades at 1.1631, extending its reversal from weekly highs near 1.1700 with price action contained within a descending channel. The Moving Average Convergence Divergence (MACD) holds around the zero line. highlighting a neutral tone, and the Relative Strength Index (RSI) is at 38, reflecting weak momentum.
Bears are aiming for the January 9 low, in the vicinity of 1.1615. Further down, the area between the bottom of the channel, now around 1.1600, and the December 2 low, at 1.1590, is likely to be targeted. To the upside, Wednesday’s high, at 1.1660, might pose some resistance ahead of the channel top, at 1.1690, and the January 12 high, near 1.1700.
(The technical analysis of this story was written with the help of an AI tool.)
Euro FAQs
The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.
EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%).
The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy.
The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa.
The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.
Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control.
Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.
Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency.
A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall.
Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy.
Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
Silver price corrects almost 6% to near $86.50 during the Asian trading session on Thursday. The white metal retraced from its all-time high of $93.51 posted on Wednesday after United States (US) President Donald Trump said that Iran assured it will stop killings of protesters, and has no plans of large-scale civil executions, resulting in a decline in appeal of safe-haven demand.
Market sentiment remained risk-averse as US President Trump threatened military action against the government of Supreme Leader Ayatollah Ali Khamenei for executing protestors amid civil unrest in Iran. The assurance from Tehran that it will stop executions of civilians has downplayed the risks of US military action.
Meanwhile, expectations from the Federal Reserve (Fed) that it won’t reduce interest rates in the policy meeting later this month are also weighing on the Silver. The speculation for the Fed pausing its ongoing monetary easing campaign intensified after the release of the US Consumer Price Index (CPI) data on Tuesday, which showed that price pressure remained sticky.
Going forward, the major trigger for the Silver price will be the announcement of the new Fed Chairman by the White House. US President Trump said in December that he would announce the successor of Fed Chair Jerome Powell sometime in January. The comments from Trump in his latest interviews showed that White House Economic Adviser Kevin Hassett, former Fed Chair Kevin Warsh, and current Fed Governors Christopher Waller and Michelle Bowman are major contenders to replace Jerome Powell.
Silver technical analysis
XAG/USD trades sharply lower to near $88.50 as of writing. The 20-day Exponential Moving Average rises and sits at $77.48, reinforcing an upward bias as THE price holds well above it. Its positive slope supports the trend and keeps pullbacks contained around the average.
The 14-day Relative Strength Index (RSI) at 68 (near overbought) reflects firm momentum after cooling from recent extremes, which could cap immediate upside if it stalls.
As long as the pair stays above the rising 20-EMA, bulls retain control, and an extension of the advance would remain the base case. A close below the 20-day EMA would shift the bias toward consolidation and open room for further downside toward the January 8 low of $73.85.
(The technical analysis of this story was written with the help of an AI tool.)
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
Copper price failed to settle for long time above $5.9700 barrier, affected by stochastic exit from the overbought level, to reach $5.8800 again, which increases the chances of activating temporary negative corrective trading, facing new bearish pressures that will force it to decline towards $5.6000 reaching extra support at $5.5100.
While the price success in surpassing the barrier and holding above it will reinforce it to record new historical gains by its rally towards $6.1200 and $6.2050.
The expected trading range for today is between $5.7500 and $6.000
Trend forecast: Fluctuated within the bullish trend
(MENAFN– Daily Forex) The Euro has peaked above the swing high during the trading session here on Tuesday as the Japanese yen continues to struggle overall.The Euro has peaked above the swing high during the trading session here on Tuesday against the Japanese Yen, and it does look to me like a market that is probably going to continue to find plenty of buyers. This is not necessarily a situation where I love the Euro; I just think the Japanese Yen is going to continue to be that weak.Top Regulated Brokers1 Get Started 74% of retail CFD accounts lose money We have been in a nice uptrend in all of the yen-denominated pairs for some time now, and one thing that you could look at on this chart, at least in the sense of whether or not you should trade this pair, is that at least you avoid the US dollar. There are a lot of questions about the US dollar at the moment.Bank of Japan Policy and the Carry Trade
That being said, the one thing that’s not a question is that the Japanese Yen continues to weaken, and I think there are a lot of problems in Japan that will continue to show themselves in the currency markets. Traders continue to look at the Bank of Japan and recognize that they can’t tighten policy too much.
EURUSD Chart by TradingViewAnd while the European Central Bank isn’t necessarily going to make big moves going forward, as we are essentially where we need to be there, the reality is that the Bank of Japan is going to have a problem where it cannot raise rates enough to avoid the carry trade.I think this is a big situation where looking at the Japanese Yen as a funding currency and continuing the overall carry trade is going to appear in this pair as well as many others. I believe that as long as we can stay above the 50-day EMA, this is a strong market that could continue much higher, possibly even as high as 188 Yen.Begin trading our daily forecasts and analysis. Here is a list of Forex brokers in Japan to work with.
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Apple Inc. (AAPL) stock price recorded a slight advance in its latest intraday trading, as the stock attempts to recoup part of its previous losses while also trying to unwind some of its clear oversold conditions on the RSI, especially with the beginning of incoming positive signals. This comes amid continued negative pressure from trading below its SMA50, which represents dynamic resistance that limits the stock’s chances of achieving a full recovery in the near term.
Therefore we expect the stock price to decline in upcoming trading, especially if it breaks below the current $260.10 support level, to target the key support at $248.70.
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The Pound to Dollar exchange rate has been unable to regain ground above 1.35, as geopolitical developments and global risk considerations continue to dominate trading.
With UK fundamentals taking a back seat, GBP/USD remains range-bound while markets await clarity on US policy risks.
GBP/USD Forecasts: Held Below 1.3500
The Pound to Dollar (GBP/USD) exchange rate has been unable to move back above the 1.3500 level and settled around 1.3470 after the New York open.
Ranges have been relatively contained despite major underlying concerns and uncertainties.
Geo-political stresses remain substantial, especially with markets waiting for President Trump’s response on the Iran situation.
Overnight Trump threatened to impose 25% tariffs on countries which trade with Iran which is liable to trigger fresh tensions with China.
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The overall dollar performance has been mixed while there has been further demand for precious metals with gold and silver posting fresh record highs. There have not been any major UK developments ahead of the latest UK GDP data on Thursday.
Monex Europe head of macro analysis Nick Rees commented; “It’s less to do with UK fundamentals – which we still think are weak – it’s rather that events elsewhere are providing a distraction from Britain’s problems.”
UoB commented; “The price action suggests that GBP is likely in a range-trading phase, probably between 1.3390 and 1.3520.”
MUFG expects limited GBP/USD gains to 1.38 at the end of 2026.
The headline US inflation rate was unchanged at 2.7% for December and in line with consensus forecasts. Core prices increased 0.2% on the month with the annual rate holding at 2.6% compared with market expectations of a slight uptick to 2.7%.
Markets are pricing in less than a 30% chance of a March Fed rate cut after no change in January, limiting scope for dollar selling.
There is still a high degree of concern surrounding Fed independence, although the market impact has been limited.
Traders are waiting for further news on the legal action against Chair Powell and the choice of next Fed Chair.
Scotiabank commented; “As President Trump continues to mull his pick to replace Powell, investors appear surprisingly calm in the face of the apparent risks facing the Fed’s policy independence.”
Domestically, markets will be on alert for comments from Bank of England (BoE) officials.
Deputy Governor Ramsden and external member Taylor are due to speak on Wednesday.
Both members have been relatively dovish members on the committee and the Pound will be vulnerable if Ramsden backs another immediate rate cut.
According to Scotiabank, there is scope for the disappointment surrounding central bank policy; “BoE rate expectations are steady following their recent pullback with markets still pricing at least one 25bpt cut by June and nearly 50bpts by December. We see risks titled to less easing than what is currently priced and look to GBP support as markets pare back their expectations for cuts.”
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Unimpressive US data left the US Dollar at the mercy of sentiment.
Speculative interest awaits clarity about Federal Reserve leadership.
XAU/USD retreated after reaching fresh highs, buyers keep adding on dips.
Spot Gold extended its record rally on Wednesday to $4,642, slowly but steadily grinding north as risk sentiment turned off. The US Dollar (USD) also found some favor in the dismal mood, resulting in the bright metal retreating towards the current $4,610 area.
The United States (US) published some relevant macroeconomic figures, which fell short of triggering some relevant action: The country reported that Retail Sales were up 0.6% in November, beating expectations, although the core reading was a miss, with the Retail Sales Control Group posting a modest 0.4% advance. The US also released shutdown-delayed Producer Price Index (PPI) data, which showed that the core annual PPI rose to 3% in November, signaling stubborn price pressures at the wholesale level.
Other than that, the focus remains on the Federal Reserve (Fed). Some Fed officials hit the wires, with Bank of Philadelphia’s Anna Paulson saying she foresees further rate cuts later this year if the forecast meets their expectations. Stephen Miran also shared his thoughts at a separate event, leaning dovish. Still, uncertainty about how the Fed will operate once current Chairman Jerome Powell steps down keeps investors uninterested.
XAU/USD short-term technical outlook
The 4-hour chart shows XAU/USD maintains its positive tone and trades above all its moving averages. The 20-period Simple Moving Average (SMA) rises above the 100- and 200-period SMAs, with the shorter one at $4,591.39 offering initial dynamic support. At the same time, the Momentum indicator turned flat above its midline, while the Relative Strength Index (RSI) indicator stands at 64, also lacking directional strength.
In the daily chart, the 20-day SMA stands at $4,438.80 while rising above the 100- and 200-day SMAs, with all three trending higher, in line with the dominant bullish trend. Finally, technical indicators partially lost their upward strength, but remain well above their midlines, reflecting the near-term retracement rather than suggesting upward exhaustion.
(The technical analysis of this story was written with the help of an AI tool.)
