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Euro Hesitates Near Lows Against British Pound as ECB Stays in Focus
The Euro is consolidating nervously near two-week lows against the British Pound around 0.8625, with market attention on the European Central Bank.
Yen Upside Limited as Flows Deteriorate – BNY
BNY's Geoff Yu notes that USD/JPY has broken above 160.00 with only a muted response from Japanese authorities, while cross-border flows into Japanese assets continue to deteriorate.
USD/JPY Hovers Near Intervention Level at 160.50
The USD/JPY pair is trading flat near 160.50 during the European session on Thursday, as markets remain cautious over potential FX intervention by Tokyo to support the yen.
GBP/JPY Extends Gains for Fourth Day Amid Mideast Risks
GBP/JPY rose for the fourth consecutive day, recovering from an intraday dip to the 214.35-214.30 region, as Middle East tensions overshadowed intervention fears.
NZD/USD Drops Below 0.5800 Ahead of US PPI Data
The New Zealand Dollar weakened against the US Dollar, trading near 0.5795, as renewed US-Iran tensions weighed on risk sentiment ahead of the US Producer Price Index release.
ECB Outlook Caps EUR/USD Upside – Commerzbank
Commerzbank’s Michael Pfister says the ECB’s expected rate hike is already priced into EUR/USD and doubts President Lagarde will commit to multiple hikes, while cooling oil prices and softer inflation further limit upside.
AUD/USD Holds Above 61.8% Fibo Support at 0.7000 After Soft US CPI
The AUD/USD pair edged higher to near 0.7007 during European trading on Thursday, finding support above the 61.8% Fibonacci retracement level at 0.7000. Gains came as the US dollar weakened following softer-than-expected US CPI data.
Silver Rises to Near $64 on US-Iran Ceasefire Hopes
Silver (XAG/USD) recovered early losses to trade near $64.10 during early European trading on Thursday, supported by expectations that the US-Iran April ceasefire will hold despite recent attacks.
GBP/USD Targets 1.3400 as Dollar Weakens, Stays Below Weekly High
GBP/USD edged higher on Tuesday, attracting dip-buyers near 1.3385 as the US dollar showed modest weakness, though the pair remains below its weekly high of 1.3425.
Indian Rupee Slumps as Oil Surges on US-Iran Ceasefire Fears
The Indian Rupee weakened against the US Dollar on Thursday as oil prices surged on fears the US-Iran ceasefire could collapse, with USD/INR rising to near 95.65.
Euro Has Room to Test 1.16/17 While Above 1.15; ECB Rate Hike Expected
The Euro could test 1.16/17 while above 1.15, with markets expecting a 25bps ECB rate hike. The Dollar index may dip to 99.5-99, while EURINR is bearish below 111 and EURJPY could test 186.
Indonesian Rupiah Weakens as Retail Sales Slump in April
The Indonesian Rupiah declined against the US Dollar, with USD/IDR trading near 17,970, following weaker domestic retail sales data for April.
DXY Bulls Have Upper Hand Above 99.50
The US Dollar Index edges lower during Asian trading on Thursday, pausing the overnight recovery from near the weekly lows, while analysts highlight a bullish bias above the 99.50 level.
AUD/JPY Edges Up to 112.40 on RBA Hawkish Stance
AUD/JPY rose to near 112.40 in early European trade Thursday, supported by the Reserve Bank of Australia's hawkish tone and bullish technicals above the 100-day SMA.
USD/JPY Flat Near Six-Week High Amid Intervention Talk
USD/JPY traded little changed around 160.50 during Asian hours after hitting a six-week high of 160.56, with speculation of Japanese FX intervention limiting further upside.
Swiss Franc Strengthens, USD/CHF Drops to 0.7990 as Dollar Struggles
The Swiss Franc gained ground against the US Dollar during Asian trading on Thursday, pushing USD/CHF to around 0.7990. The dollar's weakness persisted despite risk aversion, though safe-haven demand from Middle East tensions may limit further losses.
EUR/USD Edges Higher Near 1.1550 as ECB Decision Looms
The EUR/USD pair trades slightly higher around 1.1550 in Asian trading, with the euro gaining ahead of the ECB policy announcement. Technical indicators show a bearish tone from the downward-sloping 20-day EMA.
EUR/JPY Rises to Near 185.50 as Bullish Momentum Persists
EUR/JPY extended its winning streak to a fourth session, trading around 185.30 in Asian hours as the cross maintains a constructive bias above key exponential moving averages.
NZD/USD edges up to 0.5800 despite Iran tensions
The New Zealand Dollar rose slightly against the US Dollar during Asian trading, reaching around 0.5800, even as heightened Middle East conflict risks may pressure the risk-sensitive NZD.
AUD/USD Bounces Off Two-Month Low, Upside Capped
The Australian dollar recovers from a fresh two-month low, moving back above 0.7000 against the US dollar, but further gains appear limited.
Silver Rebounds from 11-Week Lows, Trades Near $64.00
Silver price (XAG/USD) gained ground after two days of losses, trading around $64.00 per troy ounce during Asian hours, rebounding from 11-week lows.
GBP/USD Edges Higher to 1.3385 Despite Fed Rate Hike Expectations
GBP/USD rose to around 1.3385 during Asian trading on Thursday, but gains may be capped as markets anticipate higher US interest rates for longer.
USD/CAD Stays Weak as Canadian Dollar, Upside Seen Limited
USD/CAD failed to extend its bounce from the 1.3900 weekly low and edged lower during Asian trading, with the Canadian Dollar supported and upside potential described as limited.
US Dollar Index Declines Despite Safe-Haven Demand
The US Dollar Index (DXY) is trading around 100.00 during Asian hours, holding losses after minor gains the previous day, despite increased safe-haven demand.