The Pound Sterling (GBP) surrenders some of its intraday gains and falls back below the psychological level of 1.2500 against the US Dollar (USD) in North American trading hours on Thursday.
West Texas Intermediate (WTI) Oil price continues its downward trend for the second straight day, trading around $70.60 per barrel during early European hours on Thursday.
The GBP/JPY cross builds on this week's goodish recovery move from the vicinity of the 187.00 mark, or its lowest level since September 2024, and gains some follow-through positive traction for the fourth straight day on Thursday.
Here is what you need to know on Thursday, February 13: The US Dollar (USD) struggles to find demand early Thursday after having failed to capitalize on January inflation data on Wednesday.
European Central Bank (ECB) policymaker Boris Vujčić noted on Thursday that the market is pricing in three more rate cuts this year and added that those expectations are not unreasonable, per Reuters.
Bank of England (BoE) Chief Economist Huw Pill told Reuters on Thursday that he “urges caution on interest rate cuts.” Further comments I do expect we can cut rates further.
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, extends the previous day's retracement slide from over a one-week high and drifts lower through the Asian session on Thursday.
The Japanese Yen (JPY) attracts some buyers following the release of stronger-than-expected Japan's Producer Price Index (PPI) on Thursday, which reaffirms bets that the Bank of Japan (BoJ) will hike rates further.
New Zealand's (NZ) inflation expectations were a mixed bag on a 12-month and a two-year time frame for the first quarter of 2025, the Reserve Bank of New Zealand’s (RBNZ) latest monetary conditions survey showed on Thursday.
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Thursday at 7.1719 as compared to the previous day's fix of 7.1710 and 7.3000 Reuters estimates.
EUR/USD churned on Wednesday, testing the low end through most of the intraday session before breaking higher after investors tried to shake up an unexpected upswing in US Consumer Price Index (CPI) inflation.
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