The EUR/USD hovers around 1.0710 during the Asian session on Thursday. The pair experiences a lack of directional momentum, leaving the pair without a clear trend. However, the Euro lies in the green zone after the mixed economic data from the Eurozone and Germany.
The GBP/USD pair stalls the overnight modest bounce from the 1.2240 area or the weekly low near the 100-hour SMA and oscillates in a narrow trading band during the Asian session on Thursday. Spot prices trade around the 1.2280 region, nearly unchanged for the day.
The USD/JPY pair lacks any firm intraday direction on Thursday and oscillates in a narrow band during the Asian session, just below the 151.00 mark, or a one-week high touched the previous day. Spot prices, for now, seem to have snapped a three-day winning streak.
The AUD/USD pair attracts some buying during the Asian session on Thursday and for now, seems to have snapped a three-day losing streak to the weekly low touched the previous day. Spot prices hold steady just above the 0.6400 mark and move little following the release of Chinese inflation figures.
NZD/USD trades higher near 0.5930 during the Asian session on Thursday, rebounding from the weekly lows as the US Dollar took a breather. Moreover, China’s mixed data had a neutral impact on the Kiwi Dollar (NZD).
The USD/CAD pair ticks lower during the Asian session on Thursday and for now, seems to have snapped a three-day winning streak to a weekly high, around the 1.3815 region touched the previous day. Spot prices currently trade below the 1.3800 mark, though the fundamental backdrop warrants some caution for bearish traders and before positioning for any meaningful depreciating move.
The USD/CHF experienced a quiet session on Wednesday near the 0.8990 area, seeing slight losses, with the trajectory of the pair being set by the US Dollar strengthening further. No high-tier reports were released, and the following highlights will be Consumer Confidence data from the US on Friday and next week’s inflation data.
Oil prices rose on Thursday, recovering from near four-month lows as markets remained on edge over a slowdown in global crude demand, especially following weak signals from several major economies.
Gold price is licking its wounds while flirting with a three-week low just below the $1,950 level early Thursday. The United States Dollar (USD) is trading broadly subdued amid the ongoing decline in the US Treasury bond yields and a mixed market sentiment.
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