EUR/USD
The EUR/USD pair edged lower and bottomed at 1.1542 on Thursday, ending the week in the red in the 1.1570 price zone on Friday. The US Dollar (USD) surged on the back of risk aversion, triggered by political woes on both shores of the Atlantic.
GBP/USD
The Pound Sterling (GBP) broke the previous consolidation against the US Dollar (USD) to the downside, as GBP/USD tested levels under 1.3300. It was all about the USD comeback against its major currency rivals that led to the renewed downside in the GBP/USD pair.
USD/JPY
USD/JPY stretches south to test 150.50 in the Asian session on Thursday. Persistent US Dollar weakness continues to bode ill for the pair, while the hawkish comments from BoJ policymaker Tamara lift the Japanese Yen, exacerbating its downside. US-China trade concerns and Fed easing bets dent the USD demand.
AUD/USD
AUD/USD keeps the renewed downside intact near 0.6500 in the Asian session on Thursday following the release of the monthly Australian jobs report, which showed that the Unemployment Rate climbed to 4.5% in September, rekindling RBA interest rate cut bets and weighing on the Aussie.
NZD/USD
The NZD/USD pair recovers some lost ground around 0.5740, snapping the seven-day losing streak during the Asian trading hours on Thursday. The US Dollar (USD) edges lower against the New Zealand Dollar (NZD) amid the ongoing US government shutdown.
USD/CAD
The USD/CAD pair ticked down to near 1.4040 on Wednesday. The Loonie pair is marginally down during the Asian session even as the US Dollar has declined, suggesting that the Canadian Dollar (CAD) is also weak.
USD/CHF
The US Dollar is trading lower across the board as investors increase bets on Fed cuts. This is pulling the USD/CHF pair below the 0.8000 psychological level during Wednesday’s European session and approaching Friday’s lows at 0.7990.
CRUDE OIL
Oil prices rose by around 1% in early trade on Thursday after U.S. President Donald Trump said Indian Prime Minister Narendra Modi had pledged his country would stop buying oil from Russia, which supplies about one-third of its imports.
Gold price attracts fresh buyers, aiming for $4,250 in Asian trading on Thursday. The precious metal keeps on printing fresh all-time highs as US rate cut expectations and trade tensions continue to boost demand for the safe-haven assets. Meanwhile, US government shutdown also remains a drag on the Greenback, underpinning the bullion.
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