Trading news

The GBP/JPY pair is down 0.3% to near 211.30 during the early European trading session on Thursday. The pair corrects after a sharp upside move in the last two trading days as Bank of Japan (BoJ) Governor Kazuo Ueda has kept the door open for further interest rate hikes in the near term.

EUR/GBP holds positive ground near 0.8715 during the early European session on Thursday. Political risks in the United Kingdom (UK) drag the Pound Sterling (GBP) lower against the Euro (EUR). Traders will keep an eye on the European Central Bank (ECB) Christine Lagarde speech later on Thursday. 

Bank of Japan (BoJ) Board Member Hajime Takata said on Thursday that it’s difficult to determine now the desirable pace of rate hike and terminal rate. Takata added that the pace of future rate hikes will depend on economic, price and market developments at the time. 

The Australian Dollar (AUD) trades firmly against its major currency peers, revisits the three-year high against the US Dollar (USD) around 0.7140 during the late Asian trading session on Thursday.

The Indian Rupee (INR) trades flat in its opening trade against the US Dollar (USD) on Thursday. The USD/INR pair continues to oscillate in a tight range near 91.00 as investors seek clarity on the United States (US) trade policy outlook.

Japan Coincident Index declined to 114.3 in December from previous 114.5

Japan Leading Economic Index above expectations (110.2) in December: Actual (111)

Singapore Industrial Production (MoM) came in at 5.3%, above expectations (4.5%) in January

Singapore Industrial Production (YoY) came in at 16.6%, above forecasts (11%) in January

The AUD/JPY cross trades in negative territory around 111.15 during the early European session on Thursday. The Japanese Yen (JPY) edges higher against the Australian Dollar (AUD) following hawkish remarks from the Bank of Japan (BoJ) policymakers.

USD/CHF extends its losing streak for the fifth consecutive day, trading around 0.7720 during the Asian hours on Thursday. The pair trades on the back foot as the Swiss Franc (CHF) benefits from safe-haven demand amid renewed trade tensions.

The EUR/USD pair gains some follow-through positive traction for the second consecutive day and climbs to the 1.1830 region during the Asian session on Thursday.

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

The USD/JPY pair extends the previous day's modest pullback from the 156.80-156.85 region, or a two-week high, and attracts some follow-through selling during the Asian session on Thursday.

NZD/USD extends its gains for the third consecutive day, trading around 0.6000 during the Asian hours on Thursday. The pair appreciates as the US Dollar (USD) remains under pressure amid ongoing uncertainty over the White House’s economic policies.

Gold (XAU/USD) attracts some dip-buyers following the previous day's late pullback and climbs back closer to the $5,200 mark during the Asian session on Thursday.

The Pound Sterling (GBP) holds onto weekly gains around 1.3565 against the US Dollar (USD) during the Asian trading session on Thursday. The GBP/USD pair trades firmly as the US Dollar remains under pressure due to uncertainty surrounding the United States (US) trade policy outlook.

The EUR/JPY cross loses ground to around 184.35 during the Asian trading hours on Thursday. The Japanese Yen (JPY) strengthens against the Euro (EUR) on hawkish comments from the Bank of Japan (BoJ) policymakers.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, extends its losses for the second successive session and is trading around 97.50 during the Asian hours on Thursday.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $65.60 during the Asian trading hours on Thursday. The WTI price edges higher amid ongoing tensions between the US and Iran.