EUR/USD
The EUR/USD pair attracts some buyers during the Asian session on Thursday and moves away from its lowest level since late March, around the 1.1480-1.1475 region touched the previous day. The intraday move up is sponsored by a broadly weaker US Dollar (USD) and lifts spot prices to a fresh daily high, around the 1.1525 area in the last hour.
GBP/USD
The GBP/USD pair gains some positive traction during the Asian session on Thursday and moves away from its lowest level since April 7, around the 1.3260 region set the previous day. Spot prices retake the 1.3300 mark amid a modest US Dollar (USD) downtick, though the upside potential seems limited amid a bearish fundamental backdrop.
USD/JPY
The USD/JPY pair holds steady above mid-160.00s during the Asian session on Thursday, consolidating its gains registered over the past four days to the highest level since July 2024. The US Dollar (USD) pulls back following Wednesday’s hawkish Federal Reserve (Fed)-inspired rally to a fresh high since late March amid the latest optimism over a US-Iran peace deal. Adding to this, intervention fears offer some support to the Japanese Yen (JPY) and contribute to capping the currency pair.
AUD/USD
The AUD/USD pair gathers strength to around 0.7025 during the early Asian trading hours on Thursday. Optimism surrounding the US-Iran peace deal provides some support to the riskier assets, such as the Australian Dollar (AUD) against the US Dollar (USD). The US Initial Jobless Claims report will be published later in the day.
NZD/USD
The NZD/USD pair gains traction to around 0.5790 during the Asian trading hours on Thursday. The New Zealand Dollar (NZD) strengthens against the US Dollar (USD) amid upbeat annual New Zealand Gross Domestic Product (GDP) data and improved risk sentiment.
USD/CAD
USD/CAD inches lower after five days of gains, trading around 1.4100 during the Asian hours on Thursday. The pair holds losses as the US Dollar (USD) slips on easing safe-haven demand following the BBC report late Wednesday, indicating that the White House confirmed that US President Donald Trump and Iranian President Masoud Pezeshkian signed a preliminary memorandum of understanding designed to end the US-Israel war on Iran. This decisive executive action follows the electronic signing of the initial framework by U.S. Vice President JD Vance and Iranian Parliamentary Speaker Mohammad Bagher Ghalibaf earlier in the week.
USD/CHF
The USD/CHF pair loses momentum to around 0.7985 during the early European session on Thursday. The United States (US) and Iran signed an interim agreement that would end the Iran war, weighing on the US Dollar (USD) against the Swiss Franc (CHF). The Swiss National Bank (SNB) will announce its interest rate decision later on Thursday.
CRUDE OIL
Oil prices fell more than $1 per barrel on Thursday after the U.S. and Iran signed an interim agreement that would end the Iran war, reopen the Strait of Hormuz and waive U.S. sanctions on Tehran’s oil, boosting the oil supply outlook.
Gold (XAU/USD) retreats slightly from the daily top, though it retains intraday positive bias and trades around the $4,300 mark heading into the European session on Thursday. The US-Iran peace deal prompts some US Dollar (USD) profit-taking following the previous day’s strong rise to a fresh high since late March, and turns out to be a key factor supporting the commodity. In fact, US President Donald Trump and Iranian President Masoud Pezeshkian electronically signed a Memorandum of Understanding (MoU) aimed at ending hostilities between the two countries and reopening the Strait of Hormuz. Furthermore, Trump said that the 60-day negotiation period to reach a final agreement on Iran’s nuclear program is not a hard deadline, boosting investors’ confidence. This, in turn, is seen undermining the safe-haven USD, though the US Federal Reserve’s (Fed) hawkish tilt helps limit losses and caps the non-yielding bullion.
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