EUR/USD
EUR/USD is posting small gains above 1.1650 in the European morning on Thursday, helped by a sustained weakness in the US Dollar. The Greenback suffers from intensifying rate cut bets, concerns over Trump’s tariff threats and the Fed’s independence. Mixed German industrial and trade figures fail to provide a fresh boost to the Euro.
GBP/USD
GBP/USD is grinding higher toward 1.3400 in the European trading hours on Thursday. The pair sees some repositioning trades ahead of the expected interest rate cut by the Bank of England later in the day. US weekly Initial Jobless Claims data and Fedspeak also remain in focus.
USD/JPY
The Japanese Yen (JPY) reverses a modest Asian session dip against a broadly weaker US Dollar (USD), though it lacks bullish conviction amid reports that US President Donald Trump could impose an additional 15% tariff on all imports from Japan. Apart from this, the uncertainty over the likely timing of the next interest rate hike by the Bank of Japan (BoJ) and a generally positive risk tone contribute to capping the safe-haven JPY.
AUD/USD
The Australian Dollar (AUD) edges higher against the US Dollar (USD) on Thursday, following a 0.5% gain in the previous session. The AUD/USD pair gains ground following the release of trade balance data.
NZD/USD
NZD/USD extends its gains for the second successive session, trading around 0.5950 during the Asian hours on Thursday. The pair appreciates following the release of China’s trade balance and the Reserve Bank of New Zealand’s (RBNZ) Inflation Expectations data. Traders’ focus is shifted toward the US weekly Initial Jobless Claims due later in the North American session.
USD/CAD
The USD/CAD pair extends its downside move to near 1.3730 during the late Asian trading session on Thursday. The Loonie pair faces selling pressure as the US Dollar (USD) underperforms its peers, following support from a slew of Federal Reserve (Fed) officials toward lowering interest rates in the remainder of the year.
USD/CHF
The USD/CHF pair trades with a negative bias for the third consecutive day, though it lacks follow-through selling amid mixed fundamental cues. Spot prices manage to hold above the weekly low through the Asian session on Thursday and currently trade just above mid-0.8000s, down 0.10% for the day.
CRUDE OIL
Oil prices rose on Thursday, recovering from a five-day losing streak, on signs of steady demand in the United States, the world’s largest oil consumer, although concerns over the economic impact of U.S. tariffs capped gains.
Gold price sticks to modest intraday gains through the Asian session on Thursday, though it lacks follow-through buying and remains below the $3,400 mark. US President Donald Trump’s fresh tariff threats revive demand for traditional safe-haven assets and turn out to be a key factor that benefits the bullion.
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