EUR/USD
The EUR/USD pair extends the decline to near 1.1465 during the Asian session on Thursday. The Euro weakens against the Greenback amid the risk-off mood due to rising geopolitical tensions in the Middle East. Traders await the speeches from the European Central Bank policymakers later on Thursday for fresh impetus.
GBP/USD
GBP/USD remains subdued for the third consecutive session, trading around 1.3410 during the Asian hours on Thursday. The pair faces challenges as the US Dollar gains ground amid increased safe-haven demand, driven by escalating tensions between Israel and Iran.
USD/JPY
The Japanese Yen (JPY) remains on the front foot against a broadly firmer US Dollar (USD) as trade-related uncertainties and rising geopolitical tensions in the Middle East help revive safe-haven demand. The JPY bulls, however, seem reluctant to place aggressive bets amid reduced bets for another interest rate hike by the Bank of Japan (BoJ) in 2025. Apart from this, concerns about the potential economic fallout from existing 25% US tariffs on Japanese vehicles and 24% reciprocal levies on other imports turn out to be another factor capping the JPY.
AUD/USD
The Australian Dollar (AUD) depreciated against the US Dollar (USD) on Thursday, retracing its recent gains registered in the previous session. The AUD/USD pair holds losses following the employment data release from Australia. The risk-sensitive pair also struggles due to dampened risk sentiment amid escalating Middle East tensions.
NZD/USD
The NZD/USD pair trades with mild gains near 0.6030 during the early Asian session on Thursday. The New Zealand Dollar (NZD) strengthens against the Greenback due to the stronger-than-expected New Zealand’s Gross Domestic Product (GDP) report. US markets will be closed on Thursday for the Juneteenth holiday.
USD/CAD
The USD/CAD pair extends its two-day recovery move to near 1.3710 during Asian trading hours on Thursday. The Loonie pair attracts bids as the US Dollar (USD) gains further, while Middle East tensions have escalated amid the possibility of the United States (US) striking Iran, Bloomberg reported.
USD/CHF
The USD/CHF pair builds on its recent recovery from the vicinity of mid-0.8000s, or a nearly two-month low touched last week, and scales higher for the fifth straight day on Thursday. The momentum lifts spot prices to over a one-week high during the Asian session, with bulls awaiting a sustained move beyond the 0.8200 mark ahead of the key central bank event risk.
CRUDE OIL
Oil prices fell on Thursday with investors hesitating to take new positions after President Donald Trump gave mixed signals on potential U.S. involvement in the Israel-Iran conflict, while the Federal Reserve left interest rates unchanged.
Gold price edges higher during the Asian session, though it lacks follow-through buying. Trade uncertainties and rising geopolitical risks underpin the safe-haven precious metal. The Fed’s hawkish pause lifts the USD to over a one-week high and caps the XAU/USD.
Any information provided therein are indicative and subjective to the technical analysis method or trading patterns used and the timing of their release. Those are provided as general market information and/or market commentary and/or the publication of market/factual data and should not be construed as containing personal and/or other investment recommendation, and/or to be Investment Advice or independent Investment Research. As such, the legal and regulatory requirements in relation to independent investment research do not apply to this material and it is not subject to any prohibition on dealing ahead of its dissemination. For the full Risk Disclaimer click here.
