BOJ Governor Ueda said rate hikes will continue if forecasts hold, but warned tariffs and global risks cloud the outlook. He highlighted moderating growth, slower U.S. job gains, and fragile wage momentum, while stressing the need to maintain accommodative support for Japan’s economy.
A U.S.-U.A.E. deal to deliver Nvidia AI chips has stalled, with Emirati investments in the U.S. still pending. Commerce Secretary Howard Lutnick has tied export approval to those commitments, while security concerns over the U.A.E.’s China ties add to the delay.
The NZD/USD reversed its course on Thursday as it formed a doji after hitting weekly highs near the 200-day Simple Moving Average (SMA) of 0.5845, but it reversed, ending the day virtually unchanged at around 0.5816.
EUR/USD remains steady during the North American session on Thursday, yet registering back-to-back bearish days as the US Dollar strengthens amid the ongoing government shutdown and the absence of US economic data releases like Initial Jobless Claims. The pair trades at 1.1719, down 0.09%.
Gold price retreats during the North American session on Thursday as the Greenback recovers some ground, trimming some of its weekly losses after Dallas Fed President Lorie Logan delivered a hawkish message. At the time of writing, XAU/USD trades at $3,844, down 0.50%.
West Texas Intermediate (WTI) Crude Oil comes under heavy selling pressure on Thursday, sliding to a four-month low with prices down over 2.0% at the time of writing.
GBP/USD dives during the North American session as the US government shutdown extends for the second straight day on Thursday, triggering a delay in economic data releases. Meanwhile, the US Dollar (USD) strengthens as traders assess the impact of the shutdown.
The USDCHF is trading in a narrow trading range today as buyers and sellers are getting more frustrated with the volatile ups and downs. Pick your low risk trade spots and cross your fingers.
The USDJPY is working on its 4th day down in a row. The EURSUD is breaking higher and is back above the 200-hour MA. The GBPUSD is trading up and back down as buyers and sellers battle. .
Gold (XAU/USD) trades with a negative bias on Thursday, trimming recent gains after posting a fresh all-time high near $3,895 on Wednesday. At the time of writing, XAU/USD trades around $3,820 during the American session, down over 1.0% after briefly retesting the record peak.
The Euro (EUR) is entering Thursday’s NA session with a modest 0.2% gain as it trades with modest support into the mid-1.17 area, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
The British pound continues to trade lower against the Yen on Thursday. The pair has lost more than 1.2% so far this week, reaching session lows below the bottom of the trading range over the last two months, at 197.85.
The search for Japan's new Prime Minister is entering a critical stage. This coming Saturday, the ruling Liberal Democratic Party (LDP) will hold its leadership election.
US Dollar (USD) continued to trade near recent lows as ADP employment underwhelmed. DXY last seen at 97.57, OCBC's FX analysts Frances Cheung and Christopher Wong note.
The US government shutdown means yesterday’s ADP report drew more attention than usual – and it wasn’t good. Payrolls dropped -32k in September, with August revised from +51k to -3k.
The Nasdaq hit a new all-time high yesterday despite the US government shutdown and the weak US ADP data. Why the bulls remain in charge and what's next for the market?
US Dollar (USD) is expected to consolidate between 7.1200 and 7.1380. In the longer run, for the time being, USD is likely to trade in a range between 7.1000 and 7.1480, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
US Dollar (USD) is likely to trade in a range between 146.70 and 148.00. In the longer run, sharp declines appear excessive, but USD could drop to 146.30. The odds for a continued decline below this level are not high, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
There is a chance for New Zealand Dollar (NZD) to test 0.5840 before the risk of a pullback increases. In the longer run, NZD has likely moved into a 0.5770/0.5865 range-trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
USD/CHF is consolidating after rebounding from its July low, with price action forming an Inverse Head and Shoulders pattern. A clear break above the neckline at 0.8020 is needed to unlock further upside, while the 0.7870/25 zone remains pivotal support, Société Générale's FX analysts note.
Further consolidation appears likely; softer underlying tone suggests a lower range of 0.6585/0.6625. In the longer run, Australian Dollar (AUD) is neutral now, and it is likely to trade between 0.6545 and 0.6655 for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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