Dollar steady.
The dollar was calm on Thursday as investors weighed a slate of data that gave mixed signals about the health of the U.S. economy while they await a crucial jobs report on Friday.
The euro was steady at $1.1679, on course for a small drop for the first week of the year ahead of data measuring consumer, business and economic sentiment from the region.
The single currency surged about 13.5% in 2025, taking advantage of the dollar’s dismal performance, and some analysts expect the euro to break through the $1.2 mark in 2026.
Data on Thursday showed the U.S. labour market appeared stuck in a “no hire, no fire” state, with job openings falling more than expected in November while hiring eased.
However, services sector activity unexpectedly picked up in December, suggesting the economy ended 2025 on a solid footing. The spotlight will now be on the closely watched nonfarm payrolls report due on Friday.
Traders are pricing in at least two rate cuts from the Federal Reserve this year, although a divided central bank indicated in December just one more cut for 2026. Markets broadly expect the Fed to stand pat on rates in January.
Asia stocks slip.
Most Asian stock markets fell on Thursday, tracking a largely weaker close on Wall Street overnight, while South Korean shares hit fresh record highs after robust earnings forecasts from Samsung Electronics boosted sentiment.
U.S. stocks closed largely lower overnight amid profit-taking after record highs. Wall Street index futures were largely unchanged during Asia hours on Thursday.
Japan’s Nikkei 225 declined 1% while the broader TOPIX index edged down 0.4%, extending losses after record peaks earlier this week, as investors took profits and digested Wall Street’s subdued finish.
Mainland Chinese bourses were subdued. The blue-chip Shanghai Shenzhen CSI 300 index fell 0.4%, while the Shanghai Composite traded largely flat.
Gold prices slip after early-week surge.
Gold prices extended losses in Asian trading on Thursday, giving back ground after sharp gains at the start of the week as a firmer U.S. dollar weighed on investor appetite for bullion ahead of key U.S. labour market data.
Spot gold slipped 0.5% to $4,436.62 an ounce by 06:40 GMT, while U.S. Gold Futures also eased 0.4% to $4,44286/oz, as traders locked in profits from recent rallies.
The dollar’s strength made bullion more expensive for holders of other currencies. The US Dollar Index was steady after two sessions of gains.
Market participants remained cautious ahead of Friday’s U.S. nonfarm payrolls report, a crucial data point that could shape expectations around Federal Reserve interest rate policy.
Softer jobs figures could bolster bets on rate cuts, supporting gold’s appeal as a hedge against lower yields.
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