EUR/USD
EUR/USD edges lower after registering slight gains in the previous session, trading around 1.1640 during the Asian hours on Thursday. The Euro depreciates against the US Dollar ahead of HCOB Purchasing Managers’ Index data from Germany and the Eurozone.
GBP/USD
The GBP/USD pair drifts lower to around 1.3450 during the Asian trading hours on Thursday, pressured by a modest rebound in the US Dollar. Traders await the preliminary reading of S&P Global PMI reports for August from the UK and the US, which are due later on Thursday. On Friday, all eyes will be on the Fed’s annual Jackson Hole symposium.
USD/JPY
The USD/JPY pair consolidates in a tight range around 147.40 during the late Asian trading session on Thursday. The pair trades sideways as investors await Federal Reserve (Fed) Chair Jerome Powell’s speech at the on Friday.
AUD/USD
The Australian Dollar (AUD) depreciates against the US Dollar (USD) on Thursday, extending its losses for the fourth successive day. The AUD/USD pair remains subdued despite the release of the improved preliminary data of S&P Global Australia’s Purchasing Managers Index (PMI). Furthermore, the preliminary S&P Global US Purchasing Managers Index (PMI) reports will be eyed later in the day.
NZD/USD
The NZD/USD pair touches a fresh low since April 14, around the 0.5815 region, during the Asian session on Thursday and looks to extend the previous day’s dovish Reserve Bank of New Zealand (RBNZ) inspired slump.
USD/CAD
The USD/CAD pair trades with a positive bias for the third consecutive day on Thursday and hovers near the 1.3880 region, or its highest level since May 21, during the Asian session.
USD/CHF
USD/CHF appreciates after registering nearly 0.5% losses in the previous session, trading around 0.8050 during the Asian hours on Thursday. The pair appreciates as the US Dollar (USD) receives support after the release of the Federal Open Market Committee’s (FOMC) Minutes for the July 29-30 meeting on Wednesday. Swiss Trade Balance data will be eyed later in the day. Focus will be shifted to the preliminary S&P Global US Purchasing Managers Index (PMI) data due later in the North American session.
CRUDE OIL
Oil prices extended gains on Thursday, bolstered by signs of strong demand in the U.S., with uncertainty over efforts to end the war in Ukraine also lending support.
Gold drifts lower on Thursday as hawkish FOMC Minutes continue to underpin the USD. Hopes for a Russia-Ukraine peace deal further exerted pressure on the XAU/USD pair. The global PMIs could drive the commodity ahead of Fed Chair Powell’s speech on Friday.
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