Ethereum slides over 3% as the Middle East flares up
Most cryptocurrencies fell on Thursday amid a weaker risk appetite due to mounting geopolitical tensions.
Reuters sources indicated Israel is considering a military attack against Iran in days without waiting for US support.
US President Trump commented on the news by saying such an attack is very possible, adding that Iran shouldn’t be allowed to have a nuclear weapon.
Trump also said he’s willing to extend the final July 8 deadline to carry on trade talks, but warned that the US will send messages in the next few weeks to tens of countries to set trade terms.
Earlier US data showed producer prices rose 2.6% y/y in May, beating estimates of 2.5%.
US unemployment claims came at 248 thousand in the week ending June 7, same as the previous week, and up from estimates of 246 thousand.
Following the data, Trump renewed his attacks on Fed Chair Jerome Powell and called him a fool, but said once more he won’t fire him.
Ethereum
On trading, ethereum fell 3.7% as of 21:11 GMT on Coinmarketcap to $2697.6.
Oil declines and shrugs off ongoing geopolitical tensions
Oil prices fell on Thursday after a 4% surge in the previous session amid mounting geopolitical tensions in the Middle East.
Reuters sources indicated Israel is considering a military attack against Iran in days without waiting for US support.
US President Trump commented on the news by saying such an attack is very possible, adding that Iran shouldn’t be allowed to have a nuclear weapon.
Otherwise, JPMorgan’s analysts maintained their outlook for oil prices in 2025 and 2026 as current prices already reflect such risks.
On trading, Brent futures due in August fell 0.6%, or 41 cents to $69.36 a barrel.
US crude futures due in July fell 0.2%, or 11 cents to $68.04 a barrel.
US dollar tries to recover from three-year nadir
The US dollar fell against most major rivals on Thursday, plumbing a three-year nadir before paring the losses following US inflation data.
US President Trump said he’s willing to extend the final July 8 deadline to carry on trade talks, but warned that the US will send messages in the next few weeks to tens of countries to set trade terms.
Earlier US data showed producer prices rose 2.6% y/y in May, beating estimates of 2.5%.
US unemployment claims came at 248 thousand in the week ending June 7, same as the previous week, and up from estimates of 246 thousand.
Following the data, Trump renewed his attacks on Fed Chair Jerome Powell and called him a fool, but said once more he won’t fire him.
Otherwise, the dollar index fell 0.7% as of 20:14 GMT to 97.9, with a session-high at 98.5, and a three-year low at 97.6.
Sterling
The GBP/USD pair rose 0.4% as of 20:33 GMT to $1.3596.
Recent data showed UK GDP shrank 0.3% in April, while analysts expected a 0.1% contraction.
Aussie
The AUD/USD pair rose 0.4% as of 20:33 GMT to $0.6528.
Gold climbs 2% on weaker dollar, interest rate outlook
Gold prices rose on Thursday as the dollar gave up ground against most major rivals and amid a change in the outlook of Fed interest rates following US data.
US President Trump said he’s willing to extend the final July 8 deadline to carry on trade talks, but warned that the US will send messages in the next few weeks to tens of countries to set trade terms.
Earlier US data showed producer prices rose 2.6% y/y in May, beating estimates of 2.5%.
US unemployment claims came at 248 thousand in the week ending June 7, same as the previous week, and up from estimates of 246 thousand.
Following the data, Trump renewed his attacks on Fed Chair Jerome Powell and called him a fool, but said once more he won’t fire him.
Otherwise, the dollar index fell 0.7% as of 20:14 GMT to 97.9, with a session-high at 98.5, and a three-year low at 97.6.
Gold spot prices rose 1.9% as of 20:18 GMT to $3407.4 an ounce.