EUR/USD
The EUR/USD pair continues its upward momentum for the third straight session, hovering around 1.0430 during Asian trading hours on Thursday. Investors await Germany’s Final Harmonized Index of Consumer Prices (HICP) data, set for release later in the day. The headline German HICP inflation is expected to remain steady at 2.8% year-over-year in January.
GBP/USD
GBP/USD extends its winning streak for the third consecutive day, trading around 1.2460 during Thursday’s Asian session. Traders await the UK’s preliminary Gross Domestic Product (GDP) data due later in the day. Economists expect a contraction in Q4 GDP, though the economy is projected to expand on an annual basis.
USD/JPY
USD/JPY fails to sustain at higher levels and falls back toward 154.00 in the Asian session on Thursday. The pair remains weighed down by a stronger Japanese PPI report, which reaffirmed BoJ rate hike bets. The pair also bears the brunt of a subdued US Dollar despite trade war fears and hawish Fed expectations.
AUD/USD
AUD/USD remains defensive below the 0.6300 mark in Thursday’s Asian trading. The pair is undermined by increased concerns over a potential global trade war as US reciprocal tariffs could come by later in the day. Rising Australian inflation expectations and US Dollar weakness cap the pair’s downside.
NZD/USD
NZD/USD continues to decline for the second consecutive day, trading around 0.5640 during Thursday’s Asian session. The pair remains under pressure following the release of New Zealand’s (NZ) inflation expectations. The Reserve Bank of New Zealand’s (RBNZ) latest monetary conditions survey presented a mixed outlook for the first quarter of 2025 across different time frames.
USD/CAD
The USD/CAD pair trades on a stronger note near 1.4305 during the early Asian session on Thursday. The fall in crude oil prices exerts some selling pressure on the commodity-linked Canadian Dollar (CAD). Later on Thursday, traders will keep an eye on the US weekly Initial Jobless Claims and Producer Price Index (PPI).
USD/CHF
The USD/CHF pair trades on a flat note around 0.9130 during the early European trading hours on Thursday. Traders await further information from US President Donald Trump on potential trade tariffs.
CRUDE OIL
Oil prices fell in Asian trade on Thursday as U.S. President Donald Trump talked up a potential peace treaty between Russia and Ukraine, which could potentially free up Russian oil supply curbed by U.S. sanctions.
Gold price is trying to hold above the $2,900-mark early Thursday, having witnessed intense volatility a day ago. The focus once again remains on the US fundamentals and US President Donald Trump’s tariff plans for a fresh boost to Gold prices.
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