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Gold Price Forecast: XAU/USD remains pressured below $4,700 amid firm USD
Gold (XAU/USD) remains under pressure on Thursday but holds near $4,700 at the time of writing, showing some resilience despite an unfavorable backdrop.
Brent: Conflict risk supports prices – Deutsche Bank
Deutsche Bank analysts note Brent Oil remains on an upward trajectory, trading above $103 per barrel and heading for a fourth consecutive daily gain as the Iran conflict persists.
EUR/GBP hits fresh April lows near 0.8650 following solid UK PMI data
The Euro (EUR) depreciates for the third consecutive day against the British Pound (GBP) on Thursday.
USD: Risk rotation supports greenback – ING
ING’s Francesco Pesole notes that resilient United States (US) equities and higher Oil prices have driven flows away from low-yielding, energy-importer currencies toward the Dollar and commodity FX.
EUR/USD: Downside risk within defined range – UOB
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann see EUR/USD biased lower in the near term after breaking below 1.1720, but doubts a move to major support at 1.1665 today. For the coming weeks, they expect range trading between 1.1665 and 1.1795.
WTI sticks to positive bias above $92.00 amid Middle East tensions
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – fades an Asian session spike to the $95.80-$95.85 area, or a one-and-a-half-week top, and retreats to the lower end of its daily range in the last hour.
NZD/USD firms around 0.5900 amid risk-on mood
NZD/USD remains stronger for the fourth consecutive day, trading around 0.5910 during the Asian hours on Thursday. The pair gains ground as the US Dollar (USD) struggles amid faded safe-haven demand following US President Donald Trump’s extension of a ceasefire with Iran.
PBOC sets USD/CNY reference rate at 6.8650 vs. 6.8635 previous
The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Thursday at 6.8650 compared to the previous day's fix of 6.8635 and 6.8294 Reuters estimate.
EUR/USD holds gains above 1.1700 on US-Iran ceasefire extension
The EUR/USD pair gathers strength to around 1.1710 during the early Asian session on Thursday. The Euro (EUR) strengthens against the US Dollar (USD) as US President Donald Trump’s extension of a ceasefire with Iran revives risk appetites.
Japan Jibun Bank Manufacturing PMI came in at 54.9, above expectations (51.8) in April
Japan Jibun Bank Manufacturing PMI came in at 54.9, above expectations (51.8) in April
Japan Jibun Bank Services PMI fell from previous 53.4 to 51.2 in April
Japan Jibun Bank Services PMI fell from previous 53.4 to 51.2 in April
Australian Dollar gains traction as Trump extends Iran ceasefire, Australian PMIs rebound into expansion
The AUD/USD pair gains momentum near 0.7155 during the early Asian session on Thursday. US President Donald Trump’s extension of a ceasefire with Iran revives risk appetites, supporting the Australian Dollar (AUD) against the US Dollar (USD).
Japan Foreign Investment in Japan Stocks down to ¥2B in April 17 from previous ¥3B
Japan Foreign Investment in Japan Stocks down to ¥2B in April 17 from previous ¥3B
US President Donald Trump says there is no time frame on Iran war
The White House said that US President Donald Trump has not set a deadline on Iran submitting a peace proposal, the Guardian reported on Wednesday. On Tuesday, Trump extended the ceasefire and vowed to continue the US blockade on Iranian ports.
Gold drifts lower below $4,750 amid Trump’s extension of a ceasefire with Iran
Gold price (XAU/USD) trades in negative territory near $4,730 during the early Asian session on Thursday. The precious metal declines as traders remain cautious over US-Iran peace talks to end the nearly two-month war that has intensified global inflation concerns.
Australia S&P Global Manufacturing PMI increased to 51 in April from previous 49.8
Australia S&P Global Manufacturing PMI increased to 51 in April from previous 49.8
Australia's S&P Global Manufacturing PMI rises to 51.0 in April
The preliminary reading of Australia's S&P Global Manufacturing Purchasing Managers Index (PMI) jumped to 51.0 in April versus 49.8 prior, the latest data published by S&P Global showed on Thursday.
Australia S&P Global Composite PMI increased to 50.1 in April from previous 46.6
Australia S&P Global Composite PMI increased to 50.1 in April from previous 46.6
Australia S&P Global Services PMI up to 50.3 in April from previous 46.3
Australia S&P Global Services PMI up to 50.3 in April from previous 46.3
South Korea Gross Domestic Product Growth (QoQ) came in at 1.7%, above expectations (1%) in 1Q
South Korea Gross Domestic Product Growth (QoQ) came in at 1.7%, above expectations (1%) in 1Q
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