The US Dollar (USD) is retracing Wednesday’s losses against the Canadian Dollar on Thursday, as investors resume the cautious trade witnessed in March, amid dwindling hopes of a de-escalation in Iran.
Commerzbank analysts Dr. Henry Hao and Moses Lim note that the Reserve Bank of India (RBI) has banned authorised dealers from offering non-deliverable INR derivative contracts to residents and non-residents, and from transacting FX derivatives with related parties.
Gulf nations are considering pipeline projects to bypass the Strait of Hormuz amid concerns over Iran's potential control of the strategic waterway, the Financial Times reported on Thursday.
The AUD/USD pair is down 0.7% to near 0.6870 in the late Asian trading session on Thursday. The Aussie pair faces intense selling pressure as the Australian Dollar (AUD) underperforms due to a risk-off mood.
The USD/CHF pair jumps to around 0.7985 during the early European session on Thursday. The Greenback strengthens against the Swiss Franc (CHF) following an address to the nation by US President Donald Trump.
AUD/JPY loses ground after two days of gains, trading around 109.60 during the Asian hours on Thursday.
India HSBC Manufacturing PMI registered at 53.9, below expectations (55.4) in March
West Texas Intermediate (WTI) Crude Oil prices caught aggressive bids on Thursday and rallied closer to the 100.00 psychological mark during the Asian session following US President Donald Trump's Iran war update.
Gold prices fell in India on Thursday, according to data compiled by FXStreet.
Netherlands, The Retail Sales (YoY) down to 1.3% in February from previous 2.2%
EUR/JPY depreciates after two days of gains, trading around 183.90 during the Asian hours on Thursday. The technical analysis of the daily chart suggests the currency cross is moving sideways within an ascending triangle pattern, indicating consolidation.
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 100.00 during the early European trading hours on Thursday. The DXY rises following an address to the nation by US President Donald Trump.
