EUR/USD
EUR/USD trimmed momentum sharply on Wednesday, sticking to a flat holding pattern near the 1.1200 handle despite an early pop in bids. European economic data has been largely a non-starter this week, as is typical. However, a one-two punch of key inflation data from the United States (US) has given plenty of traders something to chew on.
GBP/USD
GBP/USD is rebounding from recent losses, trading near 1.3280 during the Asian session on Thursday. The pair is supported by a softer US Dollar (USD), as investors weigh ongoing trade-related uncertainties despite a slight easing in tensions. Market focus now shifts to the release of US Retail Sales and Producer Price Index (PPI) data later in the day.
USD/JPY
USD/JPY is falling back to near 146.00 in Asian trading on Thursday, struggling to capitalize on the overnight bounce from the 145.60 area. The divergent BoJ-Fed policy expectations underpin the Japanese Yen amid the lack of USD buying interest. Focus shifts to top-tier US data, Powell’s speech.
AUD/USD
AUD/USD holds the latest uptick near 0.6450 after strong Australian jobs data for April, which showed the Unemployment Rate steadied at 4.1% while the Employment Change jumped to 89K, supporting the Australian Dollar. The optimism over the US-China trade deal also acts as a tailwind for the Aussie.
NZD/USD
The NZD/USD pair trades in positive territory near 0.5900 during the Asian trading hours on Thursday. The New Zealand Dollar (NZD) strengthens against the Greenback due to improved risk sentiment. Later on Thursday, investors will closely watch the US Retail Sales and Producer Price Index (PPI) for April. Also, the Federal Reserve (Fed) Chair Jerome Powell is scheduled to speak.
USD/CAD
The USD/CAD pair loses ground to near 1.3975 during the early Asian session on Thursday, pressured by a weaker US Dollar (USD). The US Retail Sales and Producer Price Index (PPI) for April will be the highlights later on Thursday, along with the speech from the Fed’s Chair Jerome Powell.
USD/CHF
The USD/CHF pair holds firm above 0.8320 on Wednesday during late American trading hours after declining for the second straight day.
CRUDE OIL
Oil prices extended sharp declines in Asian trading on Thursday on a report that Iran signaled openness to a nuclear deal with U.S. President Donald Trump, while data showing an unexpected jump in U.S. crude inventories raised oversupply concerns.
Gold price is looking to extend the previous day’s over 2% sell-off early Thursday. The yellow metal remains vulnerable near monthly lows, trading below $3,200, as it awaits the high-impact US Producer Price Index (PPI) and Retail Sales data ahead of Federal Reserve (Fed) Chair Jerome Powell’s speech.
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