EUR/USD shifted lower for the fourth consecutive trading day on Thursday, signaling the end of the Euro’s recent bull run. The European Central Bank (ECB) announced another interest rate cut by 25 basis points, a decision that came as no surprise to market analysts. While the Euro struggled, other assets like gold and Ethereum saw notable movements. Gold reached record levels, nearing $2,800 per ounce, driven by safe-haven inflows amid persistent threats of US tariffs. Meanwhile, Ethereum saw a 3% increase, buoyed by community support for Danny Ryan as the potential new executive director of the Ethereum Foundation.
The ECB's decision to cut rates aligned with expectations, aiming to stimulate economic growth in the Eurozone. However, this move further pressured the Euro, which peaked near 1.0450 before softening throughout the day. The continuous weakening of the Euro has raised concerns among investors about the currency's short-term outlook.
In contrast, gold benefited from its safe-haven appeal, drawing investors amid geopolitical uncertainties and tariff threats. The precious metal's ascent was also supported by a weaker Greenback, adding to its allure for those seeking stability during volatile times.
Ethereum's price surge on Thursday was significant, as it closed in on overcoming a key resistance of a falling wedge pattern. Should Ethereum succeed in breaking through, it could ignite a rally toward the $4,300 mark. The recent growth in Ethereum’s value followed a wave of support from community members advocating for Danny Ryan's leadership at the Ethereum Foundation, a move that has bolstered investor confidence in the cryptocurrency.
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