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AUD/USD tumbles to six-day low and hovers around 0.6600
The Australian Dollar lost 0.20% against the US Dollar for the third straight day on Thursday as investors digested the latest S&P Global PMI report in the US, hinting the economy is reaccelerating. The AUD/USD trades around 0.6605.
EUR/USD slips further back on Thursday as rate cut hopes dry up
EUR/USD headed lower on Thursday, driven closer to the 1.0800 handle after an unexpected upswing in US Services PMI figures sparked renewed fears of fewer Fed rate cuts. This sent investors into the safe-haven US Dollar and deflated the Euro despite better-than-expected HCOB PMI figures earlier in the day.
Gold dives amid elevated US Treasury yields underpinned by strong US data
Gold price tanks for the third straight day on Thursday, refreshing one-week lows after economic data from the United States spurred a jump in US Treasury yields and boosted the US Dollar. The XAU/USD trades near $2,332, plunging 1.90% after reaching a high of $2,383.
SEC approves spot Ethereum ETFs after shocking U-turn
The US SEC approved spot ETH ETF applications on Thursday after initial delays. SEC surprisingly began to engage with issuers on Monday after weeks of silence. Ethereum may set a new all-time high as Bitcoin did after ETF approval.
Is the Federal Reserve just winging it?
Are the central bankers at the Federal Reserve just winging it? It sure seems that way if you step back and take a long view of their decision-making. Fed officials project this aura of authority.