• The XAU/USD holds ground with bullish outlook at $2,055, showing a 0.78% rally.
• Weak Jobless Claims data weakened the USD during the session.
• Indicators stand near overbought conditions on the four-hour chart, a consolidation may be incoming.

In Thursday's session, the XAU/USD was spotted rallying to $2,055, depicting a bullish outlook on the daily chart with buyers gaining ground. The momentum is echoed in the four-hour chart, where indicators show a levelling near overbought conditions, suggesting potential market saturation. On the fundamental side, markets await key Nonfarm Payrolls figures from January due on Friday while higher-than-expected weekly Jobless Claims figures from the US weakened the Greenback during the session.

Federal Reserve’s Chair Powell considered not likely that the bank will reach a level of confidence by March to start easing. As a reaction, the US Dollar rallied on Wednesday as markets started to give up on the expectations of sooner cuts, but incoming data will ultimately guide the bank on the timing of the easing cycle. In case labor markets figures on Friday come in weak, the metal could see further upside, as the expectations on lower interest rates tend to benefit non-yielding assets