EUR/USD
EUR/USD remains steady after registering gains for the last three consecutive sessions, hovering around 1.0790 during Thursday’s Asian trading hours. However, the Euro may face headwinds as the European Central Bank (ECB) is widely expected to implement another 25 basis point rate cut later in the day. This move would bring the Main Refinancing Operations Rate down to 2.65% and lower the Deposit Facility Rate to 2.5%.
GBP/USD
GBP/USD edges lower after registering gains for the last three consecutive days, trading around 1.2890 during the Asian hours on Thursday. The US Dollar remains under pressure following weaker-than-expected US private payroll data, raising concerns about slowing economic momentum in the United States (US). Additionally, improved risk sentiment puts downward pressure on the Greenback, driven by another shift in US President Donald Trump’s tariff strategy.
USD/JPY
USD/JPY catches fresh bids and bounces toward 149.50 in Thursday’s Asian trading. The pair draws support from rising US Treasury bond yields, which cushion the US Dollar downside. However, BoJ rate hike bets could limit the pair’s upside amid lingering global trade war fears.
AUD/USD
AUD/USD holds higher ground near 0.6350 early Thursday, sitting at weekly highs after stronger-than-expected Australian Trade Balance data for January. Further, the pair capitalizes on sustained US Dollar weakness on Trump’s tariffs-led US economic concerns and dovish Fed expectations.
NZD/USD
NZD/USD continues its upward momentum for the fourth consecutive session, trading around 0.5730 during Asian hours on Thursday. The pair benefits from a subdued US Dollar (USD) amid improved risk sentiment, driven by another shift in US President Donald Trump’s tariff strategy.
USD/CAD
The USD/CAD pair extends its decline to around 1.4335 during the early Asian session on Thursday. The Canadian Dollar (CAD) strengthens against the US Dollar (USD) as investors weigh the prospects of Canada’s receiving some relief from US tariffs. Later today, the US Initial Jobless Claims and Canadian Ivey Purchasing Managers Index will be released.
USD/CHF
The USD/CHF pair continues its downward trend for the third consecutive session, trading around 0.8880 during European hours on Thursday. The pair remains under pressure following the release of Swiss Consumer Price Index (CPI) data.
CRUDE OIL
Oil prices rose on Thursday after heavy sell-offs drove the market to a multi-year low, however tariff uncertainties and a rising supply outlook capped gains.
Gold price is sitting at one-week highs near $2,930 early Thursday, consolidating a three-day recovery while aiming for a retest of lifetime highs of $2,956 ahead of mid-tier US economic data releases.
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