Forex
GBP/USD trades around 1.3300 on Thursday at the time of writing, up 0.28% on the day, supported by a mildly positive market reaction to the Bank of England (BoE) monetary policy decision.
Commodities
Gold (XAU/USD) has fallen sharply to its lowest level since early February, hovering around $4,680, pressured by a strong US Dollar (USD).
Commodities
Middle East tensions cause European markets to slide as gas and oil prices soar. Central banks like the ECB and BoE are now expected to implement rate hikes to combat energy-driven inflation, abandoning prior rate cut forecasts. The report also details FX market reactions and provides technical analysis on the FTSE 100.
Forex
EUR/JPY trades around 182.70 on Thursday at the time of writing, down 0.23% on the day, as markets digest comments from the Bank of Japan (BoJ) governor and await the European Central Bank (ECB) decision.
Forex
TD Securities strategists Alex Loo and Prashant Newnaha warn that JPY intervention risks are elevated as USD/JPY trades near 160, close to its 2024 high before Ministry of Finance action.
Forex
The USD/JPY pair attracts some sellers on Thursday and erodes a part of the previous day’s strong move up to its highest level since July 2024. Spot prices, however, trim a part of modest intraday losses and trade just below the 159.50 area during the early European session.
Commodities
Gold (XAU/USD) has entered a medium-term downtrend after breaking below the critical $4,960 support, as a hawkish Federal Reserve and rising 10-year US Treasury real yield weigh on sentiment. With rate cut expectations fading, downside risks persist unless gold reclaims key resistance levels.
Forex
The United Kingdom (UK) docket has the labor market report to be released by the Office for National Statistics (ONS) on Thursday, later this session at 07:00 GMT.
Forex
The EUR/USD pair trades 0.15% higher to near 1.1470 in the early European session on Thursday. The major currency pair gains as the Euro (EUR) rises against its major currency peers, except antipodeans, ahead of the European Central Bank’s monetary policy announcement at 13:15 GMT.
Forex
The AUD/USD pair attracts some dip-buyers near the 0.7020 area during the Asian session on Thursday and reverses a part of the previous day's retracement slide from the weekly high.
