Trading news

The Australian Dollar (AUD) continues to lose ground versus the Japanese Yen (JPY) late on Thursday, depreciating over 0.15% amid a risk-on mood.

South Korea Producer Price Index Growth (MoM) down to -0.1% in April from previous 0%

South Korea Producer Price Index Growth (YoY) dipped from previous 1.3% to 0.9% in April

The USD/JPY snapped seven straight days of losses and climbed over 0.20% on Thursday late during the North American session. The Yen’s recent depreciation despite falling US Treasury yields and amid the lack of a catalyst could be attributed to traders booking profits ahead of the weekend.

Bank of Canada (BoC) Governor Tiff Macklem and Canadian Finance Minister François-Philippe Champagne gave dueling talking points on Thursday, reviewing their G7 experiences this week.

US Treasury yields retreated on Thursday after the 30-year US bond yields reached their highest level in 19 months amid concerns regarding the increase of the US fiscal deficit, as Trump's “One Big Beautiful Bill” passes the US House of Representatives and is on its way to the Senate.

The Dow Jones Industrial Average (DJIA) bounced off a fresh bottom on Thursday, clawing its way out of the basement after a sharp tumble during the midweek trading window.

The US Dollar (USD) managed to reverse part of its recent multi-day pullback on Thursday as investors assessed the stronger-than-expected US business activity readings and the US fiscal front, particularly after President Trump’s sweeping tax bill cleared the House of Representatives.

The US Dollar index (DXY), which tracks the US Dollar (USD) against a basket of six major currencies, is trading cautiously around the 100.00 mark on Thursday after recovering from a two-week low and bouncing off key support at the 99.50 psychological level earlier in the day.

The Australian Dollar (AUD) came under renewed pressure on Thursday as the US Dollar (USD) found its footing, with risk appetite fading and broader markets tilting defensively.

EUR/USD tumbled below 1.1300 on Thursday as economic data from the United States (US) fared better than expected compared to Eurozone Flash Purchasing Managers Index (PMI) figures for May. At the time of writing, EUR/USD trades at 1.1271, down by 0.55%.

The Group of 7 (G7) finance leaders wrapped up its most recent summit on Thursday, with EU Economic Commissioner Valdis Dombrovskis characterizing the talks as “positive and successful,” particularly in advancing support for Ukraine and addressing global economic imbalances.

The Mexican Peso (MXN) is gaining traction against the US Dollar (USD) on Thursday, supported by a hotter-than-expected mid-May inflation reading.

The British Pound (GBP) is navigating choppy price action against the US Dollar (USD) on Thursday, holding above the 1.3400 psychological mark to trade near 1.3410 during the American session, as traders digest the latest business activity data from both sides of the Atlantic.

Gold price dropped some 0.48% on Thursday and failed to hold onto the $3,300 figure after reaching a two-week high of $3,345 earlier.

United States 4-Week Bill Auction: 4.22%

Silver (XAG/USD) reverses sharply lower on Thursday after briefly testing $33.70, its highest level in seven weeks, showing signs of near-term fatigue after a strong upside breakout on Wednesday to trade around $32.95 during the American session.

United States Kansas Fed Manufacturing Activity dipped from previous -5 to -10 in May

The US Dollar (USD) continues to face pressure from broad-based macro concerns, including high fiscal deficits, prolonged elevated interest rates, and rising geopolitical tensions. 

The NZD/USD pair falls to near the round level of 0.5900 during North American trading hours on Thursday. The Kiwi pair slumps after the release of the stronger-than-projected United States (US) Purchasing Managers’ Index (PMI) data for May.