United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann highlight that GBP/USD briefly broke below 1.3160 to 1.3140 before recovering to 1.3170, with intraday price action expected to probe 1.3130 while keeping 1.3110 out of reach.
Spain Gross Domestic Product (YoY) meets expectations (2.7%) in 1Q
Spain Gross Domestic Product (QoQ) meets forecasts (0.6%) in 1Q
BNY’s Geoff Yu notes that Gold has broken below $4,000/ounce after a weak spell since mid-March, as rising global front-end yields and fading debasement fears pressure precious metals.
The Euro (EUR) edges lower against the US Dollar (USD) on Thursday, extending its decline for the fourth consecutive day.
European Central Bank (ECB) policymaker Isabel Schnabel reiterates that the central bank is not done with monetary tightening yet, according to her remarks released by Econostream released during the European trading session on Thursday.
ING’s Francesco Pesole argues the Dollar rally may be nearing its peak as calmer risk sentiment and softer Federal Reserve (Fed) pricing take hold.
MUFG’s Lloyd Chan notes USD/JPY is trading close to its 2024 highs as resilient US data and elevated US yields underpin Dollar carry appeal.
The AUD/JPY cross trades in negative territory around 111.50 during the early European trading hours on Thursday. The Japanese Yen (JPY) strengthens against the Australian Dollar (AUD) amid fears of currency intervention from Japanese authorities.
Commerzbank’s Volkmar Baur says recent Australian labor market and inflation data provided little new momentum for the Australian Dollar (AUD) and support the view that the Reserve Bank of Australia (RBA) is unlikely to hike again this year.
The AUD/USD pair trades marginally lower to near 0.6890 during the European trading session on Thursday.
France Consumer Confidence meets forecasts (84) in June
