EUR/USD
The EUR/USD pair trades firmer near 1.1140 during the Asian trading hours on Thursday, bolstered by the weaker Greenback broadly. Several US Federal Reserve officials are set to speak on Thursday, including Fed Chair Jerome Powell.
GBP/USD
The GBP/USD pair regains some positive traction during the Asian session on Thursday and reverses part of the overnight sharp retracement slide from the 1.3430 region, or its highest level since March 2022. Spot prices trade around the 1.3335-1.3340 area.
USD/JPY
The Japanese Yen (JPY) remains subdued against the US Dollar (USD) following the Bank of Japan’s (BoJ) minutes from its July policy meeting released on Thursday. The JPY faces challenges as traders expect the BoJ to ponder before further rate hikes.
AUD/USD
The Australian Dollar (AUD) retraces its recent losses against the US Dollar (USD) on Thursday. The AUD/USD pair receives support from the divergent monetary policy outlooks between the two central banks. Additionally, the commodity-linked Aussie Dollar found support as China, its largest trading partner, announced a new round of stimulus measures to boost its economy.
NZD/USD
The NZD/USD pair trades with mild positive bias around 0.6260 on Thursday during the Asian trading hours. The uptick of the pair is bolstered by the fresh Chinese stimulus plans and the softer US Dollar (USD) broadly. The final US Gross Domestic Product (GDP) Annualized for the second quarter (Q2) and Federal Reserve (Fed) Chair Jerome Powell’s speech will be the highlights on Thursday.
USD/CAD
The USD/CAD pair meets with some supply during the Asian session on Thursday and erodes a part of the overnight recovery gains from the 1.3420 region, or its lowest level since March 8. Spot prices currently trade around the 1.3470-1.3465 region, down over 0.10% for the day amid a modest US Dollar (USD) downtick, though some follow-through selling around Crude Oil prices could help limit deeper losses.
USD/CHF
USD/CHF hovers around 0.8500 during the Asian session on Thursday, maintaining its position following recent gains from Wednesday. The Swiss Franc (CHF) may receive downward pressure ahead of the Swiss National Bank’s (SNB) interest rate decision scheduled later in the day.
CRUDE OIL
Oil prices were little changed on Thursday after falling in the previous session, as signs of firmer fuel demand and falling inventories in the U.S., the world’s top crude oil consumer, outweighed worries over global demand prospects.
Gold price extends its consolidative mode just below the record high reached near $2670 on Wednesday, as buyers turn cautious in the lead-up to a raft of speeches from US Federal Reserve policymakers due later on Thursday.
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