EUR/USD
The EUR/USD pair oscillates in a narrow band below mid-1.0900s during the Asian session on Thursday and consolidates the recent heavy losses to a nearly two-month low touched the previous day.
GBP/USD
The GBP/USD pair trades with a mild positive bias around the 1.3075 area during the Asian session on Thursday, albeit it lacks bullish conviction and remains within the striking distance of a nearly one-month low touched the previous day.
USD/JPY
USD/JPY defends 149.00, stalling its retracement from the highest level since mid-August at 149.36. The BoJ rate hikes uncertainty and a generally positive risk tone cap gains for the safe-haven Japanese Yen while traders look to the US CPI data for fresh impetus.
AUD/USD
AUD/USD attempts a modest bounce above 0.6700 in Asian trading on Thursday. The pair cheers a risk-on market profile, induced by hopes of China’s fiscal stimulus package and efforts to boost local equity markets. A broad US Dollar also aids the Aussie’s uptick ahead of key US CPI data.
NZD/USD
The NZD/USD pair faces an intense sell-off and slides below the round-level support of 0.6100 in Wednesday’s North American session. The Kiwi pair plunges as the Reserve Bank of New Zealand (RBNZ) has cut its Official Cash Rate (OCR) by 50 basis points (bps) to 4.75%.
USD/CAD
The USD/CAD pair trades with mild gains to around 1.3710 despite the stronger US Dollar (USD) during the early Asian session on Thursday. The rising bets of 25 basis points (bps) by the US Federal Reserve (Fed) in November might provide some support to the pair ahead of the key US Consumer Price Index (CPI) data on Thursday.
USD/CHF
The USD/CHF pair trades on a stronger note to around 0.8575 during the early European session on Wednesday. The firmer US Dollar (USD) amid diminishing odds for more aggressive rate cuts by the Federal Reserve (Fed) underpins the pair. The release of the Federal Open Market Committee (FOMC) Minutes will take center stage later on Wednesday.
CRUDE OIL
Oil prices rose in Asian trade on Thursday, steadying from two days of steep losses as focus remained on the Middle East conflict and more stimulus measures in top importer China.
GOLD
Gold price is nursing losses above $2,600 early Thursday after falling for the sixth straight day on Wednesday. The bright metal sits at its lowest level in three weeks in the run-up to the all-important US Consumer Price Index data release due later this Thursday.
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