Trading news

United Kingdom Public Sector Net Borrowing registered at £12.605B above expectations (£10.4B) in March

The USD/CAD pair trades on a flat note around 1.3670 during the early European session on Thursday. The pair steadies as traders await signs of diplomatic progress to end the war in the Middle East.  

The Indian Rupee (INR) extends its losing streak for the fourth trading day against the US Dollar (USD) on Thursday.

The preliminary German and Eurozone flash HCOB Purchasing Managers’ Index (PMI) data for April is due for release today at 07:30 and 08:00 GMT, respectively.

The EUR/GBP cross trades with mild gains around 0.8675 during the early European session on Thursday. However, the potential upside for the cross might be limited due to hot UK inflation data.

West Texas Intermediate (WTI) oil price gains ground for the third consecutive day, trading around $93.00 per barrel during Asian hours on Thursday. Crude oil prices advance amid rising supply concerns on ongoing Middle East uncertainty and the blockade of the Strait of Hormuz.

The USD/IDR pair gains strong follow-through positive traction for the third successive day and rallies beyond the 17,300 level, hitting a fresh all-time peak during the Asian session on Thursday.

India HSBC Services PMI climbed from previous 57.5 to 57.9 in April

India HSBC Manufacturing PMI increased to 55.9 in April from previous 53.9

India HSBC Composite PMI increased to 58.3 in April from previous 57

Singapore Consumer Price Index (YoY) up to 1.8 in March from previous 1.2

Asian equities mostly declined as stalled US–Iran talks dampened risk appetite. The Wall Street Journal reported Iran fired on three ships in the Strait of Hormuz, escorting two into Iranian waters on Wednesday.

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

The AUD/JPY cross attracts some sellers to around 113.95 during the early European session on Thursday. Uncertainty regarding Iran's participation in further peace talks could provide some support to a safe-haven currency such as the Japanese Yen (JPY) against the Australian Dollar (AUD). 

EUR/JPY remains subdued for the third successive day, trading around 186.60 during the Asian hours on Thursday. The currency cross loses ground as the risk-sensitive Euro (EUR) faces challenges amid increased risk aversion due to ongoing Middle East uncertainty.

The USD/CHF pair turns positive for the third straight day following an intraday dip to the 0.7830 region and climbs to a fresh one-and-a-half-week high during the Asian session on Thursday.

Gold (XAU/USD) struggles to capitalize on the previous day's modest gains and attracts fresh selling during the Asian session on Thursday.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its gains for the third successive day and trading around 98.70 during the Asian hours on Thursday.

The AUD/USD pair gives up its early gains and trades 0.24% lower around 0.7145 during the Asian trading session on Thursday.

GBP/USD remains subdued for the third successive day, trading around 1.3500 during the Asian hours on Thursday. The technical analysis of the daily chart indicates a potential for bearish reversal as the pair moves below the ascending channel pattern.