EUR/USD
EUR/USD depreciates after two days of gains, trading around 1.0390 during the Asian session on Thursday. Traders await Eurozone Retail Sales data scheduled to be released later in the day.
GBP/USD
GBP/USD halts its three-day winning streak, trading around 1.2490 during the Asian hours on Thursday. The Pound Sterling could face downward pressure amid expectations that the Bank of England will resume its policy-easing cycle, likely lowering interest rates by 25 basis points to 4.5% later in the day.
USD/JPY
The Japanese Yen (JPY) attracts intraday sellers after touching a nearly two-month top against its American counterpart earlier this Thursday and currently trades near the lower end of its daily range. Worries that Japan would also be an eventual target for US President Donald Trump’s trade tariffs and the risk-on mood turn out to be key factors undermining the safe-haven JPY. Apart from this, a modest US Dollar (USD) rebound from over a one-week low assists the USD/JPY pair to climb back above mid-153.00s in the last hour.
AUD/USD
The AUD/USD pair surges to near the key level of 0.6300 in Thursday’s European session. The Aussie pair strengthens as the risk appetite of investors has improved amid expectations that the trade war won’t be global and will be limited between the United States (US) and China.
NZD/USD
The NZD/USD pair trades with mild gains around 0.5690 during the early Asian session on Thursday. The downbeat US economic data drag the Greenback lower against the New Zealand Dollar (NZD). Investors will closely watch the developments surrounding the renewed trade war between the United States and China, the world’s two largest economies.
USD/CAD
The USD/CAD pair ticks higher during the Asian session on Thursday and moves away from over a two-week low, around the 1.4270 region touched the previous day. Spot prices currently trade around the 1.4345 area, up over 0.20% for the day, though the uptick lacks bullish conviction.
USD/CHF
The USD/CHF pair defends the 0.9000 psychological mark and attracts some dip-buyers during the Asian session on Thursday, snapping a three-day losing streak to over a one-week low touched the previous day. Spot prices currently trade around the 0.9030 area, up over 0.15% for the day, though the fundamental backdrop warrants caution before confirming that this week’s sharp pullback from the 0.9200 neighborhood has run its course.
CRUDE OIL
Oil prices edged up in Asian trading on Thursday after Saudi Arabia’s state oil company sharply raised March oil prices, but the increase was barely a blip on the biggest slide in benchmark Brent prices in nearly three months the previous day.
Gold price holds steady just below the record high touched on Wednesday. US-China trade war anxiety boosts demand for the safe-haven XAU/USD pair. Fed rate cut bets and falling US bond yields also underpin the precious metal.
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