EUR/USD falls sharply to near 1.1285 during North American trading hours on Thursday. The major currency pair declines as the US Dollar Index (DXY), which tracks the Greenback’s value against six major peers, extends its two-day recovery above the psychological level of 100.00.
The yen has weakened overnight following the BoJ’s latest policy meeting. It has helped to lift USD/JPY back above 144.50 as the pair moves further above the low of 139.89 set on 22nd April.
Former US Treasury Secretary Janet Yellen said on Thursday that US President Donald “Trump’s tariffs to have a 'tremendously adverse' impact on the economy.”
As was widely expected, the Bank of Japan (BOJ) left the policy rate unchanged at 0.50%. The decision was unanimous. The BOJ also reiterated its hawkish guidance that it will continue to raise the policy rate if the outlook for economic activity and prices will be realized.
USD/JPY pushed higher after the Bank of Japan held policy steady and delivered a dovish message, but we continue to expect gradual JPY appreciation as safe haven demand and domestic inflows persist despite near-term positioning risks, Société Générale's FX analysts note.
Silver price (XAG/USD) is extending its losses for the third successive session, trading around $32.30 per troy ounce during the European session on Thursday.
The EUR/JPY cross catches aggressive bids on Thursday and rallies to a fresh weekly high, around the mid-163.00s during the first half of the European session amid the dovish Bank of Japan (BoJ)-inspired selling around the Japanese Yen (JPY).
In the UK today, we have local council elections. These normally present an opportunity for voters to punish the ruling party. However, in today's case, the opposition Conservative party seemingly has more to lose, given it has far more councillors up for re-election.
EUR/USD remains confined within the 1.13-1.14 range, as has been the case for most of the second half of April, Danske Bank's FX analysts report, Danske Bank's FX analysts report.
USD/JPY climbed above 144 as a dovish Bank of Japan cut its growth and inflation forecasts, amplifying downside risks and sending JGB yields lower, while the broader risk environment continued to weigh on the US Dollar, ING's FX analyst Chris Turner notes.
Whether it has been the approach of public holidays or some real improvement in the global geopolitical environment, cross-market measures of financial volatility continue to fall.
West Texas Intermediate (WTI) crude Oil price is extending its losing streak for a fourth consecutive session on Thursday, trading around $57.20 per barrel during European hours.
A week ago, we were thinking that EUR/USD could retrace to the 1.1250 area, and it's taken some time, but we may get there after all, ING's FX analyst Chris Turner notes.
Following the weaker than expected US Q1 GDP yesterday, the market is pricing higher chances of more Fed rate cuts, although everything hinges on trade deals
The NZD/USD pair has trimmed its daily gains and is depreciating, trading near 0.5920 during the early European session on Thursday. The New Zealand Dollar (NZD) faces pressure as expectations mount for further monetary easing by the Reserve Bank of New Zealand (RBNZ).
The GBP/JPY cross gains ground to near 191.95 during the early European session on Thursday. The Japanese Yen (JPY) softens against the Pound Sterling (GBP) after the Bank of Japan (BoJ) kept interest rates steady and slashed its growth forecasts on Thursday.
Bank of Japan (BoJ) Governor Kazuo addresses a press conference on Thursday, explaining the Bank’s decision to maintain the interest rate at 0.50% for the second consecutive meeting.
West Texas Intermediate (WTI) Oil price falls on Thursday, early in the European session. WTI trades at $57.89 per barrel, down from Wednesday’s close at $57.97.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $61.01 after its previous daily close at $61.05.
The EUR/USD pair weakens to around 1.1295 during the early European session on Thursday, pressured by the renewed US Dollar (USD) demand. The optimism over the potential de-escalation of the US-China trade war provides some support to the Greenback and creates a headwind for the major pair.
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, attracts some buyers for the third straight day and climbs to a two-week high, around the 99.70-99.75 region during the Asian session on Thursday.
The USD/CHF pair holds ground for the third successive session, trading around 0.8270 during the Asian hours on Thursday. The daily chart suggests a neutral market bias, with the pair consolidating within a recently established rectangular pattern.
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