EUR/USD
EUR/USD holds ground after depreciating around 2% in the previous session, trading near 1.0740 during the Asian session on Thursday. The downside risk for the EUR/USD pair seems possible as the US Dollar (USD) may receive support from Trump trades following the victory of Republicans in the US election.
GBP/USD
The GBP/USD pair attracts some buyers during the Asian session on Thursday and moves away from its lowest level since mid-August, around the 1.2835-1.2830 region touched the previous day. Spot prices now look to build on the momentum beyond the 1.2900 mark as the market attention shifts to key central bank event risks.
USD/JPY
USD/JPY is extending its retreat below 154.50 early Thursday, following a massive surge on Wednesday. A US Dollar pullback and speculations that Japanese authorities might intervene to prop up the Yen undermine the pair. The focus now shifts to the Fed decision for further impetus.
AUD/USD
AUD/USD is holding its recovery above 0.6600 in the Asian session on Thursday. The pair capitalizes on a modest US Dollar pullback and strong Chinese trade surplus data amid RBA Governor Bullock’s prudent remarks and improving risk sentiment. Fed verdict is awaited.
NZD/USD
The NZD/USD pair builds on the previous day’s bounce from the 0.5910 region, or over a three-month trough and gains some positive traction during the Asian session on Thursday. Spot prices stick to intraday gains near the 0.5975-0.5980 area amid a modest US Dollar (USD) downtick and move little following the release of Chinese trade data.
USD/CAD
The USD/CAD pair extends the rally to near 1.3940 during the early Asian session on Thursday. The uptick of the pair is bolstered by the strengthening of the US Dollar (USD) broadly after Republican candidate Donald Trump won the US presidential election. All eyes will be on the US Federal Reserve (Fed) interest rate decision on Thursday.
USD/CHF
The USD/CHF pair rallies to near 0.8750 in Thursday’s Asian session. The Swiss Franc pair surges to a fresh three-month high as the US Dollar (USD) soars with former President Donald Trump gaining an unconquered lead over Democratic rival Kamala Harris in the United States (US) presidential elections.
CRUDE OIL
Oil prices rose on Thursday following a sell-off triggered by the U.S. presidential election, as risks to oil supply from a Trump presidency and a hurricane building in the Gulf Coast outweighed a stronger U.S. dollar and higher inventories.
GOLD
Gold price extends its losses for the second successive session on Thursday. The dollar-denominated precious metal faces downward pressure from a stronger US Dollar following the victory of former President Donald Trump in the US election.
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