EUR/USD
EUR/USD continues to push higher in the early European session on Thursday as the greenback remains on the back foot. Although the latest PMI data from the euro area came in below market expectations, the pair manages to hold in the positive territory above 1.1300 ahead of ECB’s policy announcements.
GBP/USD
GBP/USD regained its traction amid persistent dollar weakness and climbed to its strongest level in nearly two weeks at 1.3300 in the early European session on Thursday. The Bank of England will announce its rate decision at 12:00 GMT.
USD/JPY
USD/JPY pares intraday gains to 114.10, up 0.07% on a day, during a four-day uptrend to Thursday’s Asian session. The yen pair portrays the market’s cautious sentiment ahead of the key central bank meetings, following the US Federal Reserve’s (Fed) hawkish performance.
AUD/USD
The AUD/USD pair lacked any firm directional bias and seesawed between tepid gains/minor losses through the early part of the trading on Thursday. The pair was last seen hovering in the neutral territory, around the 0.7165 region heading into the European session.
NZD/USD
Kiwi’s sharp upward reversal following the FOMC could extend to 0.6900, in the view of economists at Westpac.
USD/CAD
USD/CAD has been pressured mid-week following an irregular reaction to an uber hawkish Federal Reserve meeting from overnight. The US dollar was put under immense pressure and the jury is still out on the cause other than there was no specific confirmation of when a rate rise will come about and economic performance remains the key.
USD/CHF
Although the pair traders portray bearish bias, per the options market data, monetary policy meeting by the Swiss National Bank (SNB) restricts the USD/CHF moves around 0.9250.
CRUDE OIL
WTI eases to $71.30, down 0.07% intraday while paring the biggest daily gain of the week during early Thursday. The black gold’s latest pullback could be linked to the market’s cautious sentiment and mixed concerns ahead of the key central bank meetings and PMI release.
GOLD
The precious metal gained traction for the second successive day and moved further away from a two-month low.
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