EUR/USD
EUR/USD holds ground after registering modest losses in the previous day, trading around 1.1560 during the Asian hours on Thursday. The pair maintains its position as the US Dollar (USD) steadies amid reports suggesting that the United States is actively pursuing diplomatic engagement with Iran to de-escalate the ongoing conflict.
GBP/USD
The GBP/USD pair trades in a tight range around 1.3360 during the early European trading session on Thursday. The Cable consolidates as investors await clarity on whether Iran intends to pursue a ceasefire, as claimed several times by United States (US) President Donald Trump.
USD/JPY
The USD/JPY pair trades sideways around 159.40 during the European trading session on Thursday. The pair seems to be following the footprints of the US Dollar (USD), which clings to the previous day’s high amid uncertainty surrounding the war in the Middle East.
AUD/USD
The Australian Dollar begins Thursday’s session with minuscule gains of 0.04%, after posting losses of 0.68% on Wednesday, courtesy of broad US Dollar strength, despite improved risk appetite. At the time of writing, the AUD/USD trades at 0.6950.
NZD/USD
The NZD/USD pair trades cautiously near 0.5800 during the Asian trading session on Thursday. The Kiwi is under pressure as Iran’s rejection to ceasefire proposal and 15-point settlement plan by United States (US) President Donald Trump has raised concerns over hopes of de-escalation in Middle East conflicts.
USD/CAD
The USD/CAD pair extends its winning streak for the fourth trading day on Thursday and jumps to near 1.3830 during the Asian trading session, the highest level seen in two months.
The Loonie pair trades firmly as the US Dollar (USD) rises amid uncertainty surrounding the war in the Middle East, which involves the United States (US), Israel, and Iran. As of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, holds onto Wednesday’s gains around 99.65.
USD/CHF
The USD/CHF pair advances for the second consecutive day on Wednesday, up by nearly 0.45% after bouncing off the 100-day Simple Moving Average (SMA), slightly above the 0.7900 figure. At the time of writing, the pair trades at 0.7915 as the US Dollar (USD) remains boosted by geopolitical uncertainty.
CRUDE OIL
U.S. oil prices rose in early trade on Thursday, recovering some of the previous day’s losses as investors assessed prospects for de-escalation in the Middle East and Iran reviewed a U.S. proposal to end the war, which has disrupted energy flows from the Gulf.
Gold (XAU/USD) attracts heavy selling heading into the European session on Thursday and extends the previous day’s rejection slide from the 100-day Simple Moving Average (SMA). Moreover, hawkish central banks and a bullish US Dollar (USD) favor the XAU/USD bears, backing the case for a slide back towards challenging a technically significant 200-day SMA, around the $4,100 mark, or a four-month low set on Monday.
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