EUR/USD
EUR/USD remained bolstered above the 1.0900 handle on Wednesday, propped up by a general easing in Greenback flows after the Federal Reserve (Fed) met markets in the middle and held rates steady for another meeting. Fed Chair Jerome Powell noted that growth projections for 2025 have been significantly hindered by the Trump administration’s erratic policy of announcing trade tariffs on social media only to later retract them. As a result, the Federal Open Market Committee (FOMC) revised its end-2025 Gross Domestic Product (GDP) forecast to 1.7%, a sharp decline from the 2.1% estimate shared in December.
GBP/USD
The GBP/USD pair remains in positive territory for the fourth successive session, trading around 1.3010 during the Asian hours on Thursday.
USD/JPY
USD/JPY holds the previous day’s pullback toward 148.00 early Thursday amid the divergent BoJ-Fed policy outlooks–led US Dollar softness. Further, rising trade and geopolitical combined with Turkish political woes benefit the safe-haven Japanese Yen.
AUD/USD
AUD/USD keeps losses below 0.6350 after disappointing Australian jobs data, which fan RBA rate cut expectations. The PBoC’s inaction on Loan Prime Rates also weigh on the pair. However, the post-Fed US Dollar weakness could limit the Aussie’s downside.
NZD/USD
The NZD/USD pair trades in a positive territory around 0.5820 during the early Asian session on Thursday. The New Zealand Dollar (NZD) gains ground after the stronger-than-expected growth data in the fourth quarter of 2024. However, the upside for the pair might be limited as the Federal Reserve (Fed) maintained its interest rates at its meeting, which supports the Greenback.
USD/CAD
The USD/CAD pair gathers strength to around 1.4320 during the early Asian session on Thursday. The Greenback edges higher against the Canadian Dollar (CAD) as the Federal Reserve (Fed) held the interest rate steady at the March meeting, as expected. The Bank of Canada (BoC) Governor Tiff Macklem is scheduled to speak later today about tariff-related uncertainty.
USD/CHF
The USD/CHF pair attracts bids near the three-month low of 0.8750 during European trading hours on Thursday.
CRUDE OIL
Oil prices rose in early trading on Thursday on a decline in U.S. fuel inventories and a ratchetting up of tensions in the Middle East.
Gold price is taking a breather early Thursday after extending its record-setting rally well above the $3,050 threshold. Further upside in Gold price could be limited amid overbought conditions on the daily time frame and ahead of the mid-tier US economic data releases.
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