America’s Roundup: Dollar soft, euro, sterling hit new highs,Wall Street ends mixed, Gold climbs, Oil retreats 
Market Roundup
•Swiss Trade Balance (Nov): 3.841B, 5.320B forecast, 4.203B previous.
•French Business Survey (Dec): 102, 98 forecast, 98 previous.
•Eurozone Construction Output (MoM) (Oct): 0.88%,-0.58% previous.
•BoE Interest Rate Decision (Dec): 3.75%, 3.75% forecast, 4.00% previous.
•BoE MPC Vote Unchanged (Dec): 4, 4 forecast, 5 previous.
•BoE MPC Vote Hike (Dec): 0, 0 forecast, 0 previous.
•BoE MPC Vote Cut (Dec): 5, 5 forecast, 4 previous.
Looking Ahead Economic Data (GMT)
• 13:15 EU Deposit Facility Rate (Dec): 2.00%forecast , 2.00% previous.
• 13:15 EU ECB Interest Rate Decision (Dec): 2.15% forecast, 2.15% previous.
• 13:15 EU ECB Marginal Lending Facility (Dec): 2.40% previous.
•13:30 US CPI (MoM) (Nov): 0.3% forecast , 0.3% previous.
•13:30 US CPI (YoY) (Nov): 3.1% forecast, 3.0% previous.
•13:30 US Philadelphia Fed Manufacturing Index (Dec): 2.5 forecast, -1.7 previous.
•13:30 US Core CPI (MoM) (Nov): 0.3% forecast, 0.2% previous.
•13:30 US Initial Jobless Claims: 224K forecast , 236K previous.
•13:30 US Core CPI (YoY) (Nov): 3.0% forecast , 3.0% previous.
•13:30 US Philly Fed Employment (Dec): 6.0 previous.
•13:30 US Continuing Jobless Claims: 1,930K forecast 1,838K previous.
•13:30 US Philly Fed Business Conditions (Dec): 49.6 previous.
•13:30 US Philly Fed New Orders (Dec): -8.6 previous.
•13:30 US Philly Fed Prices Paid (Dec): 56.10 previous.
•13:30 US Philly Fed CAPEX Index (Dec): 26.70 previous.
•13:30 US Core CPI Index (Nov): 330.54 previous.
•13:30 US CPI Index, n.s.a. (Nov): 325.13 forecast, 324.80 previous.
•13:30 US CPI, n.s.a. (MoM) (Nov): 0.25% previous.
Looking Ahead Events And Other Releases (GMT)
•No events Ahead
Currency Forecast
EUR/USD : The euro dipped against the dollar on Thursday as investors braced for the European Central Bank to reaffirm its higher-for-longer rate stance later in the day.Investors pared back bets on future ECB rate hikes earlier this week as the impact of recent remarks by ECB board member Isabel Schnabel faded.ECB staff projections will be closely watched, even if markets may have already priced in some changes after President Christine Lagarde noted that the central bank could lift its growth forecasts. Money markets priced in an around 15% probability of a tightening move by December 2026 and a 35% chance by March 2027, down from over 50% last week. The ECB depo rate is currently at 2%. Immediate resistance can be seen at 1.1766(Daily high), an upside break can trigger rise towards 1.1795(23.6%fib).On the downside, immediate support is seen at 1.1736(38.2%fib), a break below could take the pair towards 1.1649(50%fib).
GBP/USD: Sterling firmed against dollar on Thursday as investors diested Bank of England interest rates decisison. The Bank of England cut interest rates on Thursday after a narrow vote by policymakers but it signalled that the already gradual pace of lowering borrowing costs might slow further.After a sharp drop in inflation in data this week and a new forecast from BoE staff that growth will stagnate in late 2025, five Monetary Policy Committee members voted to lower the BoE's benchmark rate for the fourth time in 2025 to 3.75% from 4.0%.The pound jumped as much as 0.16% to a session high of $1.34 immediately after the decision, while two-year gilt yields , the most sensitive to shifts in expectations for British monetary policy, rose by as much as 5.4 basis points to a session high of 3.771%. Immediate resistance can be seen at 1.3450(23.6%fib), an upside break can trigger rise towards 1.3480(Higher BB).On the downside, immediate support is seen at 1.3369(38.2%fib), a break below could take the pair towards 1.3304(50%fib).
AUD/USD: The Australian dollar slipped lower on Thursday as greenback firmed ahead of key U.S. inflation data later in the week.Data earlier this week showed the U.S. unemployment rate rose to 4.6% in November, above a Reuters poll forecast of 4.4% and the highest since September 2021.The Fed last week delivered its third and final quarter-point rate cut of the year, with markets now pricing in two additional 25-basis-point cuts in 2026.Investors are now awaiting November's U.S. Consumer Price Index, due later on Thursday, followed by the Personal Consumption Expenditures price index on Friday. Fed Governor Christopher Waller said the central bank can still cut rates amid a cooling labor market and would "absolutely" defend its independence if challenged, as he awaits an interview with U.S. President Donald Trump for Powell's succession. Immediate resistance can be seen at 0.6633(38.2%fib), an upside break can trigger rise towards 0.6682(23.6%fib).On the downside, immediate support is seen at 0.6591(50%fib), a break below could take the pair towards 0.6576(SMA 20)
USD/JPY: The U.S. dollar edged higher on Thursday as traders covered shorts and adjusted positions before the BoJ meeting.The spotlight will be on Friday’s BoJ policy decision and Governor Kazuo Ueda’s remarks after the meeting.The BoJ is widely expected to lift its short-term interest rate to 0.75% from 0.5% at the end of its two-day policy meeting on Friday, as elevated food prices keep inflation above the 2% target.Markets have fully factored in the current rate move, attention among Bank of Japan observers is expected to center on signals regarding the pace of future hikes and the cycle’s peak.Meanwhile, Prime Minister Sanae Takaichi said on Wednesday that Japan must adopt aggressive fiscal spending to support growth and strengthen tax income as the economy remains fragile. Immediate resistance can be seen at 155.82(SMA 20) an upside break can trigger rise towards 157.02(Higher BB) .On the downside, immediate support is seen at 155.44 (Daily low) a break below could take the pair towards 154.54 (38.2%fib).
Equities Recap
European shares were mostly flat on Thursday, with losses in heavyweight healthcare and financial stocks capping broader gains as investors remained cautious ahead of the European Central Bank’s policy decision and key U.S. inflation data.
At (GMT 12:38),UK's benchmark FTSE 100 was last trading down at 0.17 percent, Germany's Dax was up by 0.30 percent, France’s CAC was last up by 0.13 percent.
Commodities Recap
Gold prices edged lower on Thursday, pressured by a stronger dollar as investors stayed cautious ahead of U.S. inflation data that could influence the Federal Reserve’s policy outlook, while silver hovered near record highs.
Spot gold fell 0.4% to $4,323.57 an ounce as of 1210GMT. U.S. gold futures also eased 0.4% to $4,356.10.
Oil prices steadied on Thursday as investors assessed the likelihood of further U.S. sanctions against Russia and the supply risks posed by a blockade of Venezuelan oil tankers.
Brent crude dropped 1 cent to $59.67 per barrel at 1133 GMT. U.S. West Texas Intermediate crude was up 5 cents at $55.99 per barrel.
