Markets consolidate, volatility declines on Thursday

The US dollar was trying to recover on Thursday, pushing the euro-dollar pair back toward the 1.16 level.

Additionally, both New Zealand and the Australian dollar were also seen lower. However, USDJPY also slipped, indicating a negative sentiment so far today.


US equity indices were down slightly, with the NASDAQ trading at around 15,350 USD, while the S&P 500 Index was spotted changing hands near 4,525 USD. It looks like US stocks are outperforming European equities in the recent leg higher, as US indices are nearing their all-time highs (the Dow actually posted new all-time highs yesterday). 


Still, European bourses are stuck in the middle of a consolidation range, not looking bullish right now.


Later in the day, the usual Thursday’s US jobless claims will be published. Initial claims are expected to rise slightly to 300,000 from 293,000 previously while continuing claims will likely decrease marginally to 2.55 million.


Moreover, the employment cost index for the third quarter will be released, along with the Philadelphia Fed manufacturing survey for October. Lastly, existing home sales figures are due, expected to continue in their upward trajectory.


The Canadian calendar will offer the ADP employment change for September and new housing price indices, possibly influencing the Canadian dollar.


Elsewhere, Bitcoin rose to new all-time highs above 65,000 USD. At the same time, Ethereum is trying to breach the resistance of previous all-time highs at 4,250 USD, and it looks like bulls will be successful soon.


Commodities are undergoing a minor correction of this week’s substantial gains, with oil, silver, and copper trading lower during the London session. Gold was the only exception, rising modestly on the day.

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