EUR/USD
EUR/USD is steadying above 1.0800, losing its recovery momentum in the European session on Thursday. The US Dollar finds its feet after the dovish Fed decision-led slump. Looking ahead, the US ISM Manufacturing PMI data will be the highlight on Thursday.
GBP/USD
GBP/USD is easing toward 1.2800, unable to capitalize on the previous rebound led by the dovish Fed policy outlook. The pair stays on the back foot on ‘Super Thursday’, anticipating a BoE interest-rate cut and Governer Bailey’s comments.
USD/JPY
The Japanese Yen (JPY) continues to climb against the US Dollar (USD) for the third straight session, reaching a four-month high of 148.50 on Thursday. This rise is linked to the unexpected hawkish policy announcements of the Bank of Japan (BoJ).
AUD/USD
The Australian Dollar (AUD) inches lower against the US Dollar (USD) following the release of better-than-expected Trade Balance data on Thursday. The Australian Bureau of Statistics (ABS) reported a trade surplus of 5,589 million for June, surpassing the anticipated 5,000 million but still below the previous reading of 5,773 million.
NZD/USD
The NZD/USD pair reverses an intraday dip that followed the disappointing release of the Chinese PMI and touches a one-and-half-week high during the Asian session on Thursday. Spot prices currently trade above mid-0.5900s and seem poised to build on this week’s goodish rebound from the lowest level since April 19.
USD/CAD
The USD/CAD pair trades on a softer note near 1.3805 during the early Asian session on Thursday. The further downside of the US Dollar (USD) after the Federal Reserve (Fed) decided to hold rates unchanged, drags the pair to the weekly lows. Investors will take more cues from the US ISM Manufacturing PMI, weekly Initial Jobless Claims, and the final S&P Global Manufacturing PMI, which are due later on Thursday.
USD/CHF
The USD/CHF pair remains under some selling pressure for the third successive day on Thursday and drops to its lowest level since March 13, around the 0.8760 region during the Asian session. The downfall validates the overnight breakdown through the 0.8800 round figure and is sponsored by the post-FOMC US Dollar (USD) selling bias.
CRUDE OIL
Oil prices rose during Asian trade on Thursday, extending gains from the previous session, after the killing of a Hamas leader in Iran raised the threat of a wider Middle East conflict and concern over its impact on oil.
Gold price is consolidating July’s stellar gains, starting out August, with buyers having the upper hand following the dovish outcome of the Federal Reserve policy announcements. Escalating Middle East geopolitical tensions between Iran and Israel also underpin the safe-haven appeal of Gold price.
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