Gold Corrects, Bitcoin Soars, and Indices Reclaim the Uptrend

Friday kicks off with cautious optimism after a volatile Thursday session. As the European markets open, traders are digesting the latest earnings reports, macroeconomic data, and ongoing trade war developments.

Thursday’s spotlight belonged to Alphabet, which reported stronger-than-expected earnings after the U.S. market closed. In pre-market trading on Friday, shares of Alphabet are already up around 5%, signaling a strong open and potentially boosting sentiment across the tech-heavy Nasdaq.

On the macro front, Thursday delivered a surprise from the U.S. durable goods orders, which surged 9.2%, far exceeding the 2.1% forecast. The strong data helped momentarily lift U.S. indices.

Friday has already brought a couple of bullish surprises: Tokyo Core CPI came in higher than expected at 3.4%, while UK retail sales surprised to the upside, posting 0.4% growth instead of the -0.3% forecast. The British pound responded with gains, while the Japanese yen remained under pressure.

In the background, the trade war narrative continues to evolve. Fresh overnight reports suggest China may exempt certain U.S. goods from tariffs, a move aimed at easing cost pressures. This development is injecting further optimism into the market, particularly on the risk side of the spectrum.

On the commodities front, gold continues to correct from recent highs, reflecting a broader unwind of safe-haven flows as risk appetite picks up. Silver is performing better, showing some relative strength. Oil remains indecisive — after a drop midweek, Friday begins with attempts at stabilization, though technical charts hint at bearish potential.

Finally, Bitcoin and cryptocurrencies are extending gains. Bitcoin is now comfortably above recent resistance levels, trading with strong bullish momentum as investors rotate into high-risk, high-reward assets.

As we head into the final trading session of the week, all eyes will be on how markets digest Alphabet’s rally, the evolving China-U.S. trade tone, and whether indices can hold onto recent gains to close the week on a high.

Source: https://www.axiory.com/analytics/market-news/gold-corrects-bitcoin-soars-and-indices-reclaim-th