EUR/USD attracts buyers for the second straight day and moves away from over a one-month low. The setup favours bear and supports prospects for the emergence of fresh selling at higher levels. Reduced bets for a March Fed rate cut favour the USD bulls and should contribute to capping gains. (FXStreet)

GBP/USD trades in positive territory for two straight days on Thursday. The pair keeps the bearish vibe unchanged below the key EMA; RSI indicator stands below the 50 midline.  The immediate resistance level is seen at 1.2700; the initial support level is located at 1.2628. (FXStreet)

USD/CHF continues to gain ground market caution toward Fed rate cuts. SNB Chairman Thomas Jordan will speak at the WEF in Davos on Thursday. Solid Retail Sales data contributed to diminishing the easing of the Fed’s monetary policy. (FXStreet)

USD/CAD tries to snap its five-day winning streak on a subdued US Dollar. A break below the seven-day EMA at 1.3456 could lead the pair to test the 1.3400 psychological level. The pair could find resistance around 50% retracement level at 1.3536 followed by the support at 1.3550. (FXStreet)

EUR/JPY edges lower to 161.20 amid the safe-haven flow. ECB’s Vasle pushed back against expectations of an early rate cut. Investors anticipate the Bank of Japan will maintain its ultra-dovish stance at its January policy meeting next week. (FXStreet)

AUD/JPY moves above a key level of 97.00 after the Australian economic data. Aussie Consumer Inflation Expectations and Unemployment Rate remained consistent at 4.5% and 3.9%, respectively. Japanese Yen faces challenges as BoJ is expected to maintain an ultra-dovish stance. (FXStreet)

USD/MXN retraces its recent losses on risk aversion sentiment. The upcoming Mexico and the US elections could exert pressure on the MXN. US Dollar recovers its intraday losses despite downbeat US bond yields. (FXStreet)

NZD/USD struggles to snap its losing streak amid a weaker US Dollar. US Dollar Index pulls back from its five-week high at 103.69. IMF's first Deputy Managing Director, Gita Gopinath expects rate cuts to be in the second half of 2024. New Zealand's Food Price Index (MoM) declined by 0.1% against the previous fall of 0.2%. (FXStreet)

WTI price received upward support from a positive OPEC report. OPEC forecasted oil demand to grow by 2.25 and 1.85 million bpd in 2024 and 2025, respectively. US announced to re-designate the Houthis on its list of "specially designated global terrorists”. (FXStreet)

Gold price attracts buyers on Thursday and snaps a two-day losing streak from over a one-month low. A generally weaker risk tone offers some support to the safe-haven metal amid a modest USD downtick. Diminishing odds for a March Fed rate cut to act as a tailwind for the buck and cap any further gains. (FXStreet)

Silver price gauges an interim cushion near $22.50, more downside looks likely as Fed rate cut bets ease. Strong US consumer spending has dented hopes of rate cut by the Fed in March. Silver price hovers near the horizontal support of the descending triangle chart pattern. (FXStreet)

Source: FXStreet

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