Pound Leads, Aussie Recovers, and Metals Stay Strong

Later in the day, traders will be watching for speeches from central bankers — with remarks expected from the Federal Reserve, the European Central Bank, and the Bank of Canada. These speeches might inject some short-term volatility, but in the absence of fresh macro data or major policy decisions, the overall tone of the markets is likely to remain cautious. On the indices, futures are attempting a mild recovery, flashing green across the board, although we’re still well below the levels seen before Friday’s major selloff. The tone is constructive but fragile — a tentative attempt to stabilize rather than a confident rally.

Turning to commodities, gold continues its march upward, holding near record levels, while silver and other metals also extend their gains, confirming a strong bullish sentiment in the precious metals space. Oil, on the other hand, remains in a bearish trend. The commodity made a decent attempt to push higher earlier this week but met key resistance and is now struggling to maintain momentum. That bounce looks more like a temporary uptick within a broader downtrend.

To summarize, Thursday brings cautious optimism. The British Pound remains strong, Australian dollar is recovering, and metals continue to outperform. But with limited macro catalysts and a lingering risk-off undertone, traders may remain hesitant to take big positions before the week’s end.