Page 54 - Urrencies News Today

Here is what you need to know on Thursday, January 18: Escalating geopolitical tensions in the Middle East coupled with China’s economic concerns continue to keep markets jittery.

The Australian Dollar is going through a mild recovery on Thursday, favored by a softer US Dollar.

The Euro picks up as risk aversion eases, although the broader bearish trend remains intact.

The EUR/USD pair builds on the overnight bounce from its lowest level since December 13, around the 1.0845 region, which coincides with the 200-day Simple Moving Average (SMA) and gains some follow-through traction on Thursday.

The Pound Sterling (GBP) stayed firm against the US Dollar (USD) on Thursday, courtesy of a hot inflation report on Wednesday, coughing traders by surprise, which trimmed bets the Bank of England (BoE) would ease policy as they initially expected.

Another positive set of results in US key indicators lent oxygen to the upside bias in the greenback and underpinned the tighter-for-longer narrative around the Fed.

Hawkish bets on the Bank of England (BoE) are pressuring the EUR/GBP pair, trading at a round level of approximately 0.8560, resulting in losses in Thursday's session.

The US Dollar (USD) is caught in an upbeat mood with the DXY Index trading at 103.50.

The Mexican Peso (MXN) is virtually unchanged against the US Dollar (USD) after a tranche of mixed economic data from the United States (US) and traders paring rate cut bets on the Federal Reserve (Fed), which is keeping the Greenback (USD) bid across the board.

In quite a volatile session, AUD/USD managed to reverse several sessions of losses and advance marginally on Thursday.