EUR/USD
The EUR/USD pair edges higher to near 1.1650 during the Asian trading session on Thursday. The major currency pair gains marginally as the US Dollar faces selling pressure, following dovish remarks on interest rates from New York Federal Reserve Bank President John Williams in an interview with CNBC on Wednesday.
GBP/USD
GBP/USD remains steady after two days of gains, trading around 1.3500 during the Asian hours on Thursday. The pair may further appreciate as the US Dollar struggles amid rising concerns over the US Federal Reserve’s independence.
USD/JPY
The USD/JPY pair loses ground to near 147.20 during the early Asian session on Thursday. The US Dollar (USD) weakens against the Japanese Yen (JPY) as worries persist over the Federal Reserve’s (Fed) independence. Traders brace for the second estimate of US Q2 Gross Domestic Product (GDP) Growth Rate, followed by the weekly Initial Jobless Claims and Pending Home Sales reports.
AUD/USD
The Australian Dollar (AUD) gains ground for the third successive session on Thursday, following the release of Private Capital Expenditure, which rose 0.2% in the second quarter, from the previous decline of 0.1% but falling short of the expected 0.7% increase. The AUD/USD holds ground as the US Dollar (USD) struggles over US Federal Reserve (Fed) concerns.
NZD/USD
The NZD/USD pair trades on a flat note around 0.5860 during the early Asian session on Thursday. However, concerns about the US Federal Reserve’s (Fed) independence could weigh on the US Dollar (USD) after US President Donald Trump on Monday announced he was removing Lisa Cook over claims of mortgage borrowing impropriety.
USD/CAD
USD/CAD extends its losses for the third successive session, trading around 1.3770 during the Asian hours on Thursday. The pair depreciates as the US Dollar (USD) faces challenges amid rising concerns over the US Federal Reserve’s (Fed) independence. Traders await the Q2 US Gross Domestic Product (GDP) Annualized due later in the day.
USD/CHF
The USD/CHF pair extends its downside to around 0.8015 during the Asian trading hours on Thursday. The US Dollar (USD) remains under selling pressure against the Swiss Franc (CHF) due to persistent concerns over the Fed’s independence. Investors will keep an eye on the release of Gross Domestic Product (GDP) reports from Switzerland and the US later on Thursday.
CRUDE OIL
Oil prices fell on Thursday after rising in the previous session as investors weighed expectations for lower U.S. fuel demand with the end of the summer demand season nearing and focused on India’s response to punitive U.S. tariffs.
Gold price trades in negative territory during the early European trading hours on Thursday. The precious metal retreats from a three-week high near $3,400 amid a rebound in the US Dollar and some profit-taking.
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