EUR/USD
EUR/USD is extending the rebound above 1.0900 in the early European morning on Thursday. The pair benefits from US President Trump’s tariffs-led broad US Dollar weakness. However, further upside appears capped due to escalating trade war fears, with looming EU retaliatory tariffs.
GBP/USD
GBP/USD attracts buyers for the second consecutive day as the USD slumps to a fresh YTD low. Worries about a tariff-driven US economic slowdown lift Fed rate cut bets and weigh on the buck. A breakout through a multi-week-old range supports prospects for further gains for the major.
USD/JPY
The Japanese Yen (JPY) caught aggressive bids during the Asian session on Thursday amid the global flight to safety, triggered by US President Donald Trump’s sweeping reciprocal tariffs. Investors grew increasingly concerned that the move could reshape the global trading system and impact negatively on the world economy, sending shockwaves through global financial markets. This, along with a broadly weaker US Dollar (USD), drags the USD/JPY pair to over a three-week low.
AUD/USD
The AUD/USD pair remains under selling pressure around 0.6280 during the early Asian session on Thursday. The Australian Dollar (AUD) pares losses against the Greenback after the stronger Chinese economic data. However, the upside might be limited as US President Donald Trump announced sweeping global reciprocal tariffs, prompting traders to turn cautious.
NZD/USD
The NZD/USD pair faces some selling pressure to near 0.5730 during the early Asian session on Thursday. The New Zealand Dollar (NZD) weakens against the US Dollar (USD) after US President Donald Trump announced reciprocal tariffs that would escalate a trade war.
USD/CAD
The USD/CAD pair attracts some buyers to near 1.4275, snapping the two-day losing streak during the late American session on Thursday. The Canadian Dollar (CAD) weakens against the US Greenback as traders turn cautious after US President Donald Trump signed a reciprocal tariff policy at the White House.
USD/CHF
The USD/CHF pair strengthens to around 0.8845 during the late European session on Wednesday. The US Dollar (USD) edges higher as traders await details of US President Donald Trump’s tariff plans later on Wednesday that could set the tone for markets in the near term.
CRUDE OIL
Oil prices fell by as much as 3% on Thursday after U.S. President Donald Trump announced sweeping new tariffs that investors worry will spark a global trade war that will curtail economic growth and limit fuel demand.
Gold price rallies to an all-time peak amid heightened safe-haven demand on the back of Trump’s reciprocal tariffs. The USD hits a fresh YTD low amid slumping US bond yields and Fed rate cut bets, further supporting the precious metal. Bulls, however, pause for a breather and refrain from placing fresh bets amid bearish divergence on RSI.
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