EUR/USD
EUR/USD edges lower to near 1.0550 during the Asian trading hours on Thursday. This downside of the pair could be attributed to the improved US Dollar (USD) amid the cautious mood surrounding the Federal Reserve’s (Fed) interest rate decision in December, following Wednesday’s robust inflation data. Markets may witness thin trading due to the US Thanksgiving holiday.
GBP/USD
GBP/USD holds losses as the US Dollar (USD) advances as the latest US inflation report indicated solid growth in consumer spending for October, but it also highlighted a stagnation in progress toward lowering inflation, keeping the Fed on alert. The GBP/USD pair edges lower to near 1.2660 during the Asian trading hours on Thursday. US markets may witness thin trading activity due to the Thanksgiving holiday on Thursday, to be followed by shortened trading hours on Friday.
USD/JPY
USD/JPY has stalled its recovery from over a one-month low early Thursday. Worries about the economic impact of Trump’s pledged tariffs and geopolitical risks continue to underpin the safe-haven Japanese Yen while the US Dollar licks its wounds as the US Treasury yields rebound fizzles out on Thanksgiving Day.
AUD/USD
AUD/USD struggles near 0.6500 in Thursday’s Asian trading, reversing early gains. The recent US Dollar weakness helps keep the Aussie afloat. Buyers, however, turn cautious amid US-China trade war as US is set to unveil further AI chip sanctions against China on Monday.
NZD/USD
The NZD/USD pair gains traction to around 0.5900 during the Asian trading hours on Thursday, bolstered by the weaker US Dollar (USD). The Greenback edges lower due to the month-end flows and some profit-taking for the US long weekend. The US markets will be closed on Thursday in observance of the Thanksgiving holiday.
USD/CAD
The USD/CAD pair edges lower to near 1.4025 during the early Asian session on Thursday. The US Dollar Index (DXY) weakens to a multi-day low due to monthly flows and the Thanksgiving Day holiday.
USD/CHF
The USD/CHF pair retraces recent losses from the previous session, trading around 0.8830 during the Asian hours on Thursday.
CRUDE OIL
Oil prices drifted lower on Thursday after a surprise jump in U.S. gasoline inventories, with investors focusing on the OPEC+ meeting this weekend to discuss oil output policy.
Gold price reverts toward the weekly low of $2,605 in Asian trading on Thanksgiving Thursday, snapping a two-day recovery. The US Dollar (USD) and the US Treasury bond yields breathe a sigh of relief, exerting downward pressure on the Gold price amid holiday-thinned trading conditions.
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