America’s Roundup: Dollar soft, euro, sterling hit new highs,Wall Street ends mixed, Gold climbs, Oil retreats

Market Roundup

•US Continuing Jobless Claims (Nov): 1,838K, 1,950K forecast, 1,937K previous

•US Exports (Sep): 289.30B, 280.80B previous

•US Imports (Sep): 342.10B, 340.40B previous

•US Initial Jobless Claims: 236K, 220K forecast, 192K previous

•US Jobless Claims 4-Week Avg.: 216.75K, 214.75K previous

•US Trade Balance (Sep): -52.80B, -62.50B forecast, -59.30B previous

•Canada Exports (Sep): 64.23B, 60.40B previous

•Canada Imports (Sep): 64.08B, 66.83B previous

•Canada Trade Balance (Sep): 0.15B, -4.40B forecast, -6.43B previous

•US Wholesale Inventories (MoM) (Sep): 0.5%, 0.1% forecast, 0.0% previous

•US Wholesale Trade Sales (MoM) (Sep): -0.2%, -0.2% previous

•US Natural Gas Storage: -177B, -170B forecast, -12B previous

•US 4-Week Bill Auction: 3.610%, 3.680% previous

•US 8-Week Bill Auction: 3.610%, 3.620% previous

Looking Ahead Economic Data (GMT) 

•  04:30 Japan Capacity Utilization (MoM) (Oct) 2.5% previous  

•  04:30 Japan Industrial Production (MoM) (Oct) 1.4% forecast, 1.4% previous                                                 

Looking Ahead Events And Other Releases (GMT)  

•No Events Ahead

Currency Summaries

EUR/USD : The euro firmed on Thursday as dollar weakened following the Fed’s rate cut and soft jobless claims data. U.S. weekly jobless claims rose by 44,000 last week to 236,000, the largest increase in nearly four and a half years, though seasonal volatility suggests the labor market remains broadly resilient. Economists had expected 220,000 claims, the Labor Department reported. On Wednesday, the Fed lowered rates by a quarter-point in an unusually divided vote, signaling it would likely pause further reductions while monitoring the labor market and inflation, which “remains somewhat elevated.The Fed’s updated projections contrast with market expectations for two additional 0.25% cuts in 2026, which would bring the funds rate to around 3.0%. Policymakers, however, foresee only one cut next year and one in 2027, with Wednesday’s move setting the policy range at 3.50%-3.75%. Immediate resistance can be seen at 1.1757(Higher BB), an upside break can trigger rise towards 1.1779(38.2%fib).On the downside, immediate support is seen at 1.1685(Daily low), a break below could take the pair towards 1.1659(50%fib).

GBP/USD:    The pound gained   on Thursday as the dollar fell across the board after the Federal Reserve cut rates and offered an outlook for 2026 that was not as hawkish as some had expected. Monthly GDP data is due on Friday, and that, along with next week's labour market and inflation data, will set the tone for the Bank of England's rate decision, also due next week.Markets currently see a rate cut as all but certain, with economic growth sluggish and inflation cooling from elevated levels.The Bank of England is widely expected to cut interest rates next week, with a poll showing all economists forecasting a 25-basis-point cut to 3.75%, as easing inflation and softer economic signals sway a narrowly split MPC toward loosening policy. Immediate resistance can be seen at 1.3407(50%fib), an upside break can trigger rise towards 1.3511(Higher BB).On the downside, immediate support is seen at 1.3285(Dec 10th low), a break below could take the pair towards 1.3226(61.8%fib).

 USD/CAD: The Canadian dollar strengthened to nearly a three-month high against the U.S. dollar on Thursday, as the greenback fell broadly and Canada’s trade data underscored the domestic economy’s resilience to the initial impact of the trade war. Canada recorded a monthly trade surplus of C$153 million ($110.92 million) in September, reversing seven consecutive months of deficits and beating economists’ forecast of a C$4.5 billion shortfall. Meanwhile, oil, one of Canada’s key exports, traded 1.8% lower at $57.41 a barrel as investors focused on developments in Russia-Ukraine peace talks. The loonie was trading 0.2% higher at 1.3765 per U.S. dollar , after touching its strongest intraday level since September 17 at 1.3757. Immediate resistance can be seen at 1.3861 (50%fib), an upside break can trigger rise towards 1.3959 (SMA 20).On the downside, immediate support is seen at 1.3736(38.2%fib), a break below could take the pair towards 1.36903 (Lower BB).

USD/JPY: The U.S. dollar dipped against yen on Thursday  after the Federal Reserve cut interest rates on Wednesday and delivered a less hawkish outlook than some observers had expected. The U.S. Federal Reserve cut interest rates by a quarter-percentage point on Wednesday in an uncommonly divided vote, but signaled it would likely pause further reductions in borrowing costs as officials look for clearer signals about the direction of the job market and inflation that  remains somewhat elevated. After three consecutive interest rate cuts, investors now confront an uncertain U.S. monetary policy outlook for the year ahead, clouded by persistent inflation, data gaps, and an impending leadership change at the Federal Reserve .Immediate resistance can be seen at 157.00(Psychological level) an upside break can trigger rise towards 157.58 (23.6%fib) .On the downside, immediate support is seen at  155.44 (38.2%fib)  a break below could take the pair towards 154.55(Lower BB)

Equities Recap

European shares rose on Thursday following several muted sessions, boosted by the U.S. Federal Reserve’s rate cut and the Swiss National Bank’s policy decision.

UK's benchmark FTSE 100 closed up by 0.49 percent, Germany's Dax ended up by 0.68 percent, France’s CAC finished the day up by 0.79 percent.

The S&P 500 and Dow reached record closing highs on Thursday following a Federal Reserve policy update that was less hawkish than anticipated.

Dow Jones closed up  by1.34 % percent, S&P 500 closed up  by 0.21 % percent, Nasdaq settled down  by 0.26%  percent.

Commodities Recap

Gold climbed on Thursday to its highest level in over a month after the U.S. Federal Reserve’s quarter-point rate cut weakened the dollar, while silver surged to a record high.

Spot gold rose 1.2% to $4,280.08 per ounce as of 01:42 p.m. ET (1842 GMT), marking its highest level since October 21. U.S. gold futures for February delivery settled 2.1% higher at $4,313 per ounce.

Oil prices fell on Thursday as investors focused on Russia-Ukraine peace talks and eyed large surpluses in U.S. gasoline and diesel inventories.

Brent crude futures settled at $61.28 a barrel, down 93 cents or 1.49%. U.S. West Texas Intermediate crude finished at $57.60 a barrel, down 86 cents or 1.47%.