EUR/USD
EUR/USD moves little after two days of losses as the US Dollar (USD) experiences a technical recovery, trading around 1.1700 during the Asian hours on Thursday. Traders await Eurozone Gross Domestic Product (GDP) data for the second quarter due later in the day. Focus will shift toward the US Producer Price Index (PPI) data and weekly Initial Jobless Claims later in the North American session.
GBP/USD
The GBP/USD pair trades on a flat note around 1.3575 during the Asian trading hours on Thursday. Traders prefer to wait on the sidelines ahead of the key data from both the United Kingdom (UK) and the United States (US). The preliminary reading of UK Gross Domestic Product (GDP) for the second quarter (Q2) will be published later on Thursday, followed by US Producer Price Index (PPI) data for July.
USD/JPY
USD/JPY consolidates the latest leg south in early Europe on Thursday, trading near 146.50, three-week troughs. The divergent BoJ-Fed policy expectations and US Treasury Secretary Bessent’s comments continue to drive flows towards the lower-yielding Japanese Yen.
AUD/USD
AUD/USD eases off two-week highs to trade near 0.6550 in the latest Asian session on Thursday. A modest US Dollar uptick and cautious markets cap the Aussie’s upside, following strong Australian employment data. All eyes now turn to the US PPI inflation data.
NZD/USD
The NZD/USD pair gains ground to near 0.5985 during the Asian trading hours on Thursday. The US Dollar (USD) weakens against the New Zealand Dollar (NZD) as traders ramp up bets for a Federal Reserve (Fed) rate cut in September. The US Producer Price Index (PPI) and the weekly Initial Jobless reports will be the highlights later on Thursday.
USD/CAD
The USD/CAD pair extends the decline to around 1.3755 during the early Asian session on Thursday. The US Dollar (USD) softens against the Canadian Dollar (CAD) as investors continue to price in further rate cuts by the US Federal Reserve (Fed). The US Producer Price Index (PPI) report will take center stage later on Thursday, followed by the weekly Initial Jobless Claims.
USD/CHF
The pair has caught a bid in recent sessions as the Swiss Franc (CHF) came under pressure following US President Donald Trump’s announcement of a 39% tariff on Swiss imports, triggering concerns over Switzerland’s trade exposure and weighing on safe-haven flows into the Franc.
CRUDE OIL
Oil prices climbed on Thursday as investors remain cautious the U.S.-Russia summit on Ukraine on Friday will lead to a loosening of Russian crude sanctions and may even result in further action against buyers, while a weak market outlook capped gains.
Gold is looking to extend the break above the $3,350 psychological barrier in the Asian trades on Thursday. Gold keeps the green for the third consecutive day, awaiting the US Producer Price Index and Jobless Claims data for fresh trading incentives.
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