EUR/USD
The EUR/USD pair edges higher to around 1.1335 during the early Asian session on Thursday. Mitigating concerns over potential tariff threats by US President Donald Trump exerts some selling pressure on the US Dollar (USD).
GBP/USD
The GBP/USD pair gathers strength to near 1.3270, snapping the two-day losing streak during the early Asian session on Thursday. The US Dollar (USD) weakens against the Cable due to the uncertainty surrounding Trump’s trade policies.
USD/JPY
USD/JPY trades below 143.00, holding its correction from over a one-week top set on Wednesday. Uncertainty over the US-Japan tariff plans and the divergent BoJ-Fed policy expectations continue to offer a double-whammy to the pair amid a fresh bout of US Dollar selling. The US-Japan trade talks eyed.
AUD/USD
AUD/USD is falling back toward 0.6350 in Thursday’s Asian trading amid fading optimism over a quick resolution to the US-China trade dispute. Meanwhile, a renewed US Dollar selling on looming trade uncertainty, concerning US, China and Japan could limit the pair’s downside.
NZD/USD
The NZD/USD pair strengthens to near 0.5950 during the Asian trading hours on Thursday, bolstered by the weakening of the US Dollar (USD). Traders brace for the US weekly Initial Jobless Claims, Chicago Fed National Activity Index, Durable Goods Orders, and Existing Home Sales, which are due later on Thursday.
USD/CAD
USD/CAD edges lower around 1.3870 during Thursday’s Asian session, after climbing roughly 0.50% in the previous day. The pair is under pressure as the US Dollar (USD) weakens following the Federal Reserve’s April Beige Book, which pointed to deteriorating economic conditions.
USD/CHF
The USD/CHF pair fails to capitalize on a two-day-old recovery from the lowest level since September 2011 and attracts some sellers during the Asian session on Thursday. Spot prices, however, lack bearish conviction and currently trade just below the 0.8300 mark, down 0.25% for the day and close to a nearly two-week high touched on Wednesday.
CRUDE OIL
Oil prices inched higher in Asian trade on Thursday following steep losses in the prior session, as investors digested reports that OPEC+ plans to further ramp up production in June.
Gold price rebounds from a weekly low of $3,260 early Thursday as buyers are back with vigour, although replicating the moves seen in Wednesday’s Asian session. Markets appear cautiously optimistic this Thursday as they take account of the trade talks by the US President Donald Trump’s administration, concerning China and Japan.
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