Danske Research Team notes global equities ended slightly lower, with energy and materials dragging, but sector dispersion remained wide. Lower Oil prices are seen as a relief for consumers, while strong Micron results reinforced confidence in technology earnings.
Silver (XAG/USD) posts moderate losses on Thursday, trading at seven-month lows around $57.00 at the time of writing, after a nearly 12% sell-off in the previous two days.
The USD/JPY pair edges lower during the Asian session on Thursday, albeit it lacks follow-through and finds support ahead of the 161.50 level.
EUR/JPY pares its daily losses, remaining in the negative territory and trading around 183.80 during the Asian hours on Thursday.
The EUR/USD pair trades in positive territory around 1.1370 during the early European session on Thursday. A surprisingly hawkish message from Kevin Warsh as the new Federal Reserve (Fed) chair last week has traders pricing a US hike as soon as September.
XAG/USD depreciates for the third successive day, trading around $56.90 per troy ounce during the Asian hours on Thursday. Silver price is facing steady headwinds as market expectations shift toward tighter monetary policy from the Federal Reserve (Fed).
The US Dollar (USD) reflects a subdued performance ahead of the United States (US) Personal Consumption Expenditure Price Index (PCE) data for May, which will be published at 12:30 GMT.
The AUD/JPY cross attracts some sellers following the release of the latest Australian employment details and slides closer to its lowest level since late April, touched the previous day.
The Israeli defence minister, Israel Katz, said that the Israeli military would not withdraw from southern Lebanon despite pressure from the United States (US) as fighting in Lebanon continues to be an obstacle to permanent peace, the Guardian reported on Thursday.
AUD/USD continues its losing streak for the eighth consecutive day, trading around 0.6900 during the Asian hours on Thursday. The pair remains subdued as the Australian Dollar (AUD) holds losses following the release of domestic labor market data.
The GBP/USD pair recovers some lost ground to near 1.3175 during the Asian trading hours on Thursday. However, the potential upside for the major pair might be limited amid UK political instability and rising expectations of US interest rate hikes this year.
The Iranian Islamic Revolutionary Guards Corps (IRGC) said on Thursday that “safe transit through the Strait of Hormuz is possible only via routes designated by Iran.”
