Indian Rupee (INR) crosses trade mixed at the start of Thursday, according to FXStreet data. The Euro (EUR) to the Indian Rupee changes hands at 95.74, with the EUR/INR pair declining from its previous close at 95.75.
Platinum Group Metals (PGMs) trade with a negative tone at the beginning of Thursday, according to FXStreet data. Palladium (XPD) changes hands at $963.90 a troy ounce, with the XPD/USD pair easing from its previous close at $965.90.
West Texas Intermediate (WTI) Oil price advances on Thursday, early in the European session. WTI trades at $58.35 per barrel, up from Wednesday’s close at $57.68.
Bank of England Governor Andrew Bailey explained the decision to cut the policy rate to 4.25% following the May meeting and responded to questions during the post-meeting press conference.
The EUR/USD pair attracts some dip-buyers during the Asian session on Thursday and reverses a part of the overnight slide from the 1.1375-1.1380 resistance zone.
The NZD/USD pair is trading near 0.5970 during Thursday’s Asian session, rebounding after a more than 1% decline in the previous session. The recovery is driven by optimism surrounding potential de-escalation in US-China trade tensions.
Silver (XAG/USD) attracts fresh buying during the Asian session on Thursday and reverses a major part of the previous day's retracement slide from over a one-week high. The white metal climbs to the $33.00 neighborhood in the last hour and seems poised to appreciate further.
The GBP/USD pair rebounds from its recent losses, trading near 1.3340 during the Asian session on Thursday. The Pound Sterling (GBP) gains traction on speculation that the Trump administration may soon announce a trade agreement with the United Kingdom (UK).
The Japanese Yen (JPY) continues losing ground through the first half of the European session on Thursday, which, along with some follow-through US Dollar (USD) buying, lifts the USD/JPY pair further beyond mid-144.00s.
Citing the Chinese Embassy in the United States (US), the Global Times, a highly influential China’s media outlet, stated on X early Thursday that Beijing is unlikely to lower tariffs before the talks in Switzerland begin.
West Texas Intermediate (WTI) crude Oil price recovers some ground during Thursday’s Asian session, trading around $58.10 per barrel after recent losses. The rebound is supported by a decline in US crude inventories.
The USD/CAD pair fails to capitalize on the pervious day's modest recovery move from the vicinity of the year-to-date low and meets with a fresh supply during the Asian session on Thursday.
The Indian Rupee (INR) loses ground against the US Dollar (USD), extending its losses for the third successive session on Thursday. The USD/INR pair appreciates amid the Federal Reserve’s (Fed) cautious policy outlook.
Gold price (XAU/USD) turns lower for the second straight day following an intraday uptick to the $3,414-3,415 area and extends the intraday descent heading into the European session on Thursday.
US President Donald Trump announced during the Asian trading hours on Thursday of “a big news conference (Thursday) tomorrow morning at 10:00 a.m. (14 GMT) in the Oval Office. concerning a major trade deal with representatives of a big, and highly respected, country.”
The AUD/USD pair edges higher in Thursday’s Asian session, trading around 0.6440 after falling over 1% in the previous session. The pair had previously touched a five-month high of 0.6514 on Wednesday, but retreated amid Federal Reserve’s (Fed) cautious policy outlook.
On Thursday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.2073 as compared to the previous day's fix of 7.2005 and 7.2385 Reuters estimate.
New Zealand's Prime Minister Christopher Luxon crossed the wires in the last hour, saying that the sharp deterioration of financial markets in early April has somewhat recovered, but markets remain volatile.
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