EUR/USD
The Euro (EUR) slides 0.3% to near 1.1590 against the US Dollar (USD) during the Asian trading session on Thursday. The major currency pair faces intense selling pressure as market sentiment turns risk-averse, following Iran’s retaliation against United States (US) attacks near Bandar Abbas airport, Tasnim agency reported.
GBP/USD
The GBP/USD pair attracts some sellers near 1.3400 during the Asian trading hours on Thursday. The British Pound (GBP) weakens against the US Dollar (USD) on fresh geopolitical developments. Markets remain cautious ahead of the release of the US April Personal Consumption Expenditures (PCE) Price Index inflation report, which is due later in the day.
USD/JPY
The Japanese Yen (JPY) is marginally lower against the US Dollar (USD), but outperforms its other peers during the late Asian trading session on Thursday. The USD/JPY is slightly higher to near 159.55, close to its four-week high of 159.65 posted earlier in the day.
AUD/USD
The AUD/USD pair remains depressed for the third straight day and trades around the 0.7130 region during the Asian session, just above the weekly low touched the previous day. Moreover, the fundamental backdrop favors bearish traders and suggests that the path of least resistance for spot prices is to the downside.
NZD/USD
The New Zealand Dollar (NZD) drops to near 0.5883 against the US Dollar (USD) during the Asian trading session on Thursday, following the New Zealand (NZ) budget 2026 announcement. The Kiwi pair edges down even as the nations’ Debt Management Office (DMO) has reduced its gross bond issuance plans for four years to June 30, 2030 to NZ$124 billion from NZ$130 billion forecasted in December, which diminishes fears of widening fiscal concerns.
USD/CAD
The USD/CAD pair is seen building on the previous day’s breakout momentum through the 1.3810-1.3815 confluence hurdle and gaining positive traction for the third straight day on Thursday. Spot prices climb to the 1.3870 region, or a fresh high since April 13, during the Asian session and remain well supported by a broadly firmer US Dollar (USD).
USD/CHF
The US Dollar (USD) is trading flat against the Swiss Franc (CHF) on Thursday, as the rebound from Tuesday’s weekly lows near 0.7810 has been halted below a previous support level in the area of 0.7860. Markets are struggling to find direction in the absence of key macroeconomic data and with news from the Middle East offering contrasting views.
CRUDE OIL
Oil prices jumped more than 3% on Thursday after Iran’s Revolutionary Guards said they targeted a U.S. airbase in response to a U.S. attack near Bandar Abbas airport.
Gold (XAU/USD) remains under some selling pressure for the third straight day and drops to a fresh two-month low, further below the $4,400 mark during the Asian session on Thursday. The commodity now seems vulnerable to extending the breakdown momentum below a technically significant 200-day Simple Moving Average (SMA) as the risk of a further escalation of tensions in the Middle East boosts the safe-haven US Dollar (USD). Adding to this, expectations that global central banks will adopt a more hawkish stance to counter rising inflation validate the negative outlook for the bullion.
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