Gold prices experienced a further decline on Thursday after breaching a pivotal support level. This downward trajectory was catalyzed by the escalating optimism regarding the China-U.S. trade agreement, which has alleviated market concerns over a more profound economic crisis and counterbalanced other factors that would typically bolster safe-haven demand.

Silver's rally loses steam as the US and China ease tariffs, undermining safe-haven appeal. Diminished Fed rate cut expectations and a shift in geopolitical risk sentiment weigh on XAG/USD, which hovers around $32.

EUR/JPY continues to trade within a well-defined ascending channel. Recently, the pair approached the upper boundary of the channel but faced downward pressure from that resistance area.

This rejection could mark the beginning of a new bearish phase, with the next key support zone seen near the 1.5520 level.

GBP/JPY pulls back from a four-month high as the Japanese Yen gains strength on hawkish BoJ commentary. Despite UK economic growth optimism, the cross faces near-term headwinds.

The ZEW Economic Sentiment Index for Germany surged due to domestic political stability and advancements in trade, which should benefit the Euro.