Trading news

The Indian Rupee (INR) faces intense selling pressure against the US Dollar (USD) at open on Thursday. The USD/INR pair jumps to near 90.40 as the Indian Rupee slumps amid uncertainty surrounding trade talks between the United States (US) and India.

The GBP/USD pair trades in negative territory near 1.3365 during the early European trading hours on Thursday, pressured by the rebound in the US Dollar (USD).

Gold (XAU/USD) retreats following a modest Asian session uptick to the $4,247 area, or a fresh weekly high, and for now, seems to have snapped a two-day winning streak.

Gold prices fell in India on Thursday, according to data compiled by FXStreet.

The EUR/USD pair posts modest losses near 1.1690 during the early European trading hours on Thursday. However, the US Federal Reserve's (Fed) dovish rate cut on Wednesday could weigh on the US Dollar (USD) against the Euro (EUR).

Silver Price (XAG/USD) retraces to near $62.00 during the Asian trading session on Thursday after posting a fresh all-time high at $62.87 earlier in the day.

The Japanese Yen (JPY) builds on the previous day's strong move up against a broadly weaker US Dollar (USD) and gains some follow-through positive traction for the second straight day on Thursday.

The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, trades on a negative note near 98.55 during the Asian trading hours on Thursday.

Japanese Chief Cabinet Secretary Minoru Kihara said on Thursday that the government will closely monitor the impact on the Japanese economy of United States (US) financial conditions following Federal Reserve (Fed) rate cut.

The USD/CAD pair enters a bearish consolidation phase during the Asian session on Thursday and oscillates in a narrow band, just below the 1.3800 mark, or its lowest level since October 22.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $58.70 during the Asian trading hours on Thursday. The WTI price drifts lower on diplomatic steps toward ending the Russia-Ukraine war.

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Thursday at 7.0686 compared to the previous day's fix of 7.0753.

The AUD/USD pair drifts lower during the Asian session on Thursday and erodes a part of the previous day's strong gains to its highest level since September 17.

Australia’s Unemployment Rate steadied at 4.3% in November from 4.3% in October according to the official data released by the Australian Bureau of Statistics (ABS) on Thursday. The figure came in below the market consensus of 4.4%.

Australia Part-Time Employment up to 35.2K in November from previous -13.1K

The NZD/USD pair holds steady above the 0.5800 mark, close to an over two-month high touched the previous day, during the Asian session. Moreover, the fundamental backdrop favors bullish traders and suggests that the path of least resistance for spot prices remains to the upside.

Australia Participation Rate below expectations (67%) in November: Actual (66.7%)

Australia Employment Change s.a. below forecasts (20K) in November: Actual (-21.3K)

Australia Unemployment Rate s.a. registered at 4.3%, below expectations (4.4%) in November

Australia Full-Time Employment down to -56.5K in November from previous 55.3K