The Pound Sterling (GBP) recovers from early losses against the US Dollar (USD) and reclaims the key level of 1.3500 during North American trading hours on Thursday.
The USD/CHF pair gives up a significant part of its initial gains and falls below 0.8300 during European trading hours on Thursday, from the intraday high of 0.8348. Still, the Swiss Franc pair is 0.35% higher around 0.83000.
Chinese Commerce Ministry said in a statement on Thursday, “China and US have used multilateral and bilateral occasions to maintain communications at various levels.”
USD/CAD loses ground after registering gains in the previous two consecutive sessions, trading around 1.3820 during the European hours on Thursday. The pair depreciates as the commodity-linked Canadian Dollar (CAD) receives support from improved crude Oil prices.
Silver prices (XAG/USD) are showing moderate gains on Thursday, after bouncing up from the support area, at $32.60-32.70 but the broader picture remains mixed with price action contained within recent ranges.The fundamental background is unsupportive today.
The EUR/GBP cross remains under selling pressure around 0.8375 during the early European session on Thursday. The Euro (EUR) weakens against the Pound Sterling (GBP) due to weak Eurozone data. Later on Thursday, Bank of England (BoE) Deputy Governor Sarah Breeden is set to speak.
Japan’s Chief Trade Negotiator and Economy Minister Ryosei Akazawa said on Thursday that he “wants to meet with US Treasury Secretary Scott Bessent this time” to conduct ministerial talks.
West Texas Intermediate (WTI) Oil price advances on Thursday, early in the European session. WTI trades at $62.64 per barrel, up from Wednesday’s close at $61.62.
The GBP/USD pair trades in negative territory around 1.3435 during the early European session on Thursday. The Greenback strengthens against the Pound Sterling (GBP) after the US trade court blocks US President Donald Trump's sweeping tariffs.
Japanese Finance Minister Katsunobu Kato said on Thursday that he “agreed with US Treasury Secretary Scott Bessent that exchange rate should be set by the market.”
The GBP/JPY cross prolonged its weekly uptrend for the fourth straight day on Thursday and climbed to the 196.30 area during the Asian session, back closer to a multi-month peak touched earlier this May.
Gold price (XAU/USD) struggles to capitalize on its intraday recovery from over a one-week low and remains below the $3,300 mark through the first half of the European session on Thursday, still in the red for the fourth straight day.
The NZD/USD pair weakens to near 0.5935 during the early Asian trading hours on Thursday bolstered by a firmer US Dollar (USD). The renewed trade tensions between the United States (US) and China weigh on the China-proxy Kiwi.
Silver price (XAG/USD) halts its two-day losing streak, trading around $33.20 per troy ounce during the Asian hours on Thursday. Technical analysis of the daily chart indicates a neutral bias, as the price of the precious metal consolidates within a rectangular pattern.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its gains for the third successive day and trading more than 0.50% higher around 100.30 during the Asian hours on Thursday.
The Indian Rupee (INR) softens on Thursday. The month-end US Dollar (USD) demand and the headline surrounding the US court blocking US President Donald Trump's tariffs provide some support to the US Dollar (USD) and weigh on the Indian currency.
The Australian Dollar (AUD) edges higher after recovering daily losses during the European hours on Thursday. The AUD/USD pair holds gains as the US Dollar (USD) trims its gains.
The Swiss Franc (CHF) is moving sideways against the US Dollar (USD) on Wednesday, with the USD/CHF pair hovering near the previous day’s high after a solid almost 1% climb driven by renewed US Dollar strength.
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