EUR/USD trimmed a bit more of its recent gains on Thursday, falling back around one-third of one percent as Europe gears up for a protracted back-and-forth on trade tariffs with US President Donald Trump.
The current view suggests XAUUSD has completed a 5-waves pattern in the cycle from the 2832.2 low. GOLD is now forming a wave ((ii)) black correction. The price shows an incomplete sequence in the decline from the peak.
Stocks are hitting some 'must hold' levels. The slow managed decline suggests that we may not be done with this unwinding, flash relief rallies notwithstanding.
There seems to be a nervous calm in the foreign exchange market as the dollar consolidates mostly inside yesterday's ranges, in largely uneventful turnover.
The EUR/USD pair is trading near 1.0887 on Thursday as investors cautiously evaluate the impact of escalating global trade tensions on the economy and consumer behavior.
U.S. producer prices remained flat in February, with core inflation showing a rare decline. This eases concerns over trade tariffs and may lead to Fed rate cuts later this year.
Gold price (XAU/USD) sticks to its positive bias through the early European session on Thursday and remains close to the all-time peak touched on February 24.
