EUR/USD
EUR/USD extends its losses for the third consecutive session, trading around 1.1640 during the Asian hours on Thursday. The pair loses ground as the US Dollar (USD) advances as a stronger-than-expected United States (US) Producer Price Index (PPI) and Retail Sales, along with last week’s easing Unemployment Rate, reinforced the case for the US Federal Reserve (Fed) to keep interest rates on hold for the coming months. Traders will likely monitor the weekly US Initial Jobless Claims report later in the day.
GBP/USD
The British Pound extended its gains on Thursday as the Greenback is punished by investors due to threats to the Federal Reserve’s independence and a verbal intervention by Japanese officials, boosted the Yen. The GBP/USD trades at 1.3461 up by 0.30%.
USD/JPY
The USD/JPY pair trades in a tight range around 158.50 during the Asian trading session on Thursday. The pair consolidates as the upbeat US Dollar (USD) has offset the decent recovery in the Japanese Yen (JPY).
AUD/USD
AUD/USD edges lower after registering slight gains in the previous session, trading around 0.6680 during the Asian hours on Thursday. The pair loses ground after Australia’s Consumer Inflation Expectations were released. The January reading edged down to 4.6% from 4.7% in the previous month, indicating that households continue to anticipate elevated price pressures.
NZD/USD
The NZD/USD pair loses ground to near 0.5740 during the Asian trading hours on Thursday. The New Zealand Dollar (NZD) weakens against the US Dollar (USD) amid renewed fears of a trade war between the US and China. The weekly US Initial Jobless Claims report and the Fedspeak will be the highlights later on Thursday.
USD/CAD
USD/CAD remains in the positive territory for the third successive session, trading around 1.3890 during the Asian hours on Thursday. The pair holds ground as the US Dollar (USD) receives support from stronger-than-expected US economic data. Traders will monitor the weekly US Initial Jobless Claims report later on Thursday, alongside remarks from Federal Reserve officials.
USD/CHF
The USD/CHF pair holds onto gains near the monthly high of 0.8000 during the late Asian trading session on Thursday. The Swiss Franc pair trades firmly as the US Dollar continues to outperform on expectations that the Federal Reserve (Fed) will pause its monetary-easing cycle this month.
CRUDE OIL
Oil prices retreated from multi-month highs on Thursday and gold eased from a record peak after U.S. President Donald Trump calmed market anxiety over potential U.S. military action against Iran.
Gold (XAU/USD) loses ground after hitting a fresh record high of $4,643 in the previous session, trading around $4,600 per troy ounce on Thursday. The non-interest-bearing Gold lost ground as a stronger-than-expected United States (US) Producer Price Index (PPI) and Retail Sales, along with last week’s easing Unemployment Rate, reinforced the case for the US Federal Reserve (Fed) to keep interest rates on hold for the coming months.
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