US dollar steadies after the Fed hold, euro faces downside risk, gold slips ahead of PCE data and crypto hovers around key resistance levels.

The global markets closed mixed on Thursday, with the US dollar largely unchanged after the Federal Reserve left rates on hold, while the euro slipped on concerns over tighter monetary conditions in Europe. Gold retreated ahead of the upcoming US PCE inflation report, and major cryptocurrencies hovered near pivotal resistance zones as investors digested mixed earnings news.

Currencies and central banks

The Federal Reserve’s decision to keep policy rates steady kept the US dollar in a narrow range, as traders now focus on the forthcoming US advance GDP and Core PCE data. In Europe, the European Central Bank (ECB) is under heightened scrutiny after President Christine Lagarde announced she will step down on February 7, 2027. MUFG analyst Lee Hardman warned that the euro could face downside pressure amid rising French bond yields and surging natural‑gas prices, suggesting the ECB may adopt a more cautious stance in its upcoming meeting.

Gold and commodities

Gold (XAU/USD) weakened ahead of the US PCE inflation release, reflecting the market’s anticipation of a hawkish Fed outlook. Silver continued its slide, reaching an 11‑month low near $52.60 per ounce as higher AI‑related capex pressures weighed on the metal. Oil prices eased modestly after comments from US and Iranian officials hinted at de‑escalation in the Middle East, though the benchmark WTI remained above the $100 level.

Crypto

Bitcoin stayed near $80,000, with analysts flagging $85,000 as a key long‑term resistance zone. A recent Glassnode analysis highlighted the risk of selling pressure above that level. Meanwhile, Solana’s ecosystem faced a setback after a validator went offline, prompting the Solflare wallet to pledge compensation for missed staking rewards on roughly $160 million of SOL. Overall, the crypto market showed mixed signals, with Bitcoin testing its 50‑day moving average and BNB gaining relative strength.

Stocks

US equity futures were pressured by disappointing earnings from Alphabet, which missed revenue expectations, and Samsung, which also fell short. Deutsche Bank strategists noted that the tech earnings drag outweighed Microsoft’s solid cloud results, while broader Asian markets showed weakness. In the legal sector, long‑standing Wall Street firm Weil, Gotshal & Manges announced a wind‑down of its operations after nearly a century of service.

Key calendar events ahead

• 12:30 UTC | USD Advance GDP q/q | high impact
• 12:30 UTC | USD Core PCE Price Index m/m | high impact
• 12:30 UTC | USD Advance GDP Price Index q/q | medium impact
• 12:30 UTC | USD Unemployment Claims | medium impact
• 13:15 UTC | EUR Main Refinancing Rate | high impact
• 13:15 UTC | EUR Monetary Policy Statement | high impact
• 13:45 UTC | EUR ECB Press Conference | high impact
• 23:30 UTC | JPY Tokyo Core CPI y/y | medium impact
• 02:30 UTC | JPY BOJ Policy Rate | high impact
• 02:30 UTC | JPY Monetary Policy Statement | high impact
• 02:31 UTC | JPY BOJ Outlook Report | high impact
• 05:30 UTC | JPY BOJ Press Conference | high impact
• 07:29 UTC | EUR German Prelim CPI m/m | medium impact
• 09:00 UTC | EUR German Prelim GDP q/q | medium impact

Related news

• ECB president lagarde to step down, knot and de cos in race
• Bitcoin slides below $80,000 as Fed holds rates with hawkish tone
• Gold and silver price outlook as split Fed decision keeps December hike alive
• Warsh signals higher rates but keeps Fed options open

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This article is compiled from international market news for information only. It is not investment advice.