Silver (XAG/USD) struggles to capitalize on the previous day's modest gains and oscillates in a narrow trading band, below the $32.00 round-figure mark during the Asian session on Thursday.
The high price in the USDCHF stalled just ahead of its 100-hour MA at 0.8965. Getting above the 100-hour MA and staying above, is needed to increase the bullish bias.
The Mexican Peso (MXN) begins Wednesday's session on the backfoot against the US Dollar (USD) as US Treasury bond yields recover, underpinning the Greenback.
Having been under pressure on a weak set of consumer confidence readings, the dollar has found a little support overnight on news that the House has passed a budget blueprint bill.
Australian Dollar (AUD) is expected to trade in a 0.6325/0.6365 range vs US Dollar (USD). In the longer run, upward momentum has largely faded; AUD is likely to consolidate between 0.6280 and 0.6410 for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Chance for Euro (EUR) to rise above 1.0530 vs US Dollar (USD); it is unclear whether it can maintain a foothold above this level. In the longer run, c, but only a breach of 1.0425 would indicate that EUR is not ready to rise above 1.0530, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
European currencies remain reasonably supported and are taking the Ukraine mineral agreement as a positive and very possibly some kind of move towards a US security guarantee, ING's FX analyst Chris Turner notes.
Silver prices plunged on Tuesday more than 1.80%, which witnessed the grey metal printing a daily peak of $32.48, before sliding below the $32.00 figure due to risk aversion and traders booking profits amidst uncertainty about US trade policies.
The NZD/USD pair continued its downward trajectory on Tuesday, marking its third consecutive daily decline as it moves closer to the 20-day Simple Moving Average (SMA).
The Japanese Yen (JPY) extended its gains versus the US Dollar (USD) on Tuesday, which was helped by the fall of US Treasury bond yields as consumer confidence deteriorated further, according to the Conference Board.
The AUD/JPY cross deepened its losses on Tuesday, with sellers firmly in control as the pair recorded a fresh low since mid-September near the 94.00 mark.
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