Analysis

The USD/CAD pair corrects slightly to near 1.3820 in Thursday’s European session after posting a fresh 11-week high above 1.3850 on Wednesday.

The GBP/USD pair trades around 1.2930 during the Asian session on Thursday, staying near its 10-week low of 1.2907 reached on Wednesday.

The GBP/USD pair edges higher toward 1.3000 during Asian trading on Wednesday. However, the Pound Sterling (GBP) faced headwinds due to declining consumer and producer inflation figures, coupled with weak labor market data in the United Kingdom (UK).

The AUD/USD pair has declined in the Monday session, following consistent gains in the US Dollar. The pair fell by 0.80% to 0.6655 at the time of writing. The declines in the Aussie have been attributed to concerns over China's stimulus measures and recent weakness in copper prices.

GBP/USD twisted into the low side on Monday, kicking off the new trading week with a fresh test south of the 1.3000 handle as Cable traders balk ahead of a hectic week that sees a slew of appearances from central bank figures, as well as an update on global Purchasing Managers Index (PMI) figures. 

The modest decline of the Greenback provides some support to the pair. Investors will keep an eye on the speeches from Federal Reserve (Fed) officials later on Monday, including Neel Kashkari and Jeffrey Schmid. 

The dollar has enjoyed a boost from the return of the "Trump trade" as Republican presidential candidate Donald Trump's chances of returning to the White House appear to be on the up, but UBS believes stronger rallies should be sold as Trump isn't an outright positive for the greenback.

The GBP/USD pair struggles to capitalize on modest recovery gains registered over the past two days and oscillates in a narrow range, around the 1.3050-1.3045 region during the Asian session on Monday.

In Thursday's session, the AUD/USD currency pair experienced a gain of 0.40%, reaching 0.6695 mainly due to positive labor market data reported during the Asian session.

The Pound Sterling clawed back a scant sixth of a percent against the Greenback on Thursday, well short of the midweek plunge that saw Cable slump another six-tenths of a percent.

USD/JPY continues making higher highs and higher lows as it extends its short-term uptrend towards the underside of the major trendline in the 151.00s.

Tension snapped in GBP/UISD chart action on Wednesday, with Cable losing the tug of war and backsliding out of recent congestion. Cable tumbled two-thirds of one percent and slipped below the 1.3000 handle during the midweek market session.

During BlackRock’s third-quarter earnings call, CEO Larry Fink articulated a strong endorsement of Bitcoin and digital assets.

GBP/USD churned chart paper just north of 1.3000 on Monday, with markets striking a laid-back tone ahead of key UK data due to release in the first half of the trading week.

The GBP/USD pair struggles to capitalize on Friday's modest gains and attracts fresh sellers at the start of a new week. Spot prices currently trade around mid-1.3000s and remain close to a one-month low touched last Thursday amid a bullish US Dollar (USD). 

The AUD/USD pair attracts some sellers to around 0.6730 and during the early Asian session on Monday. The stronger US Dollar (USD) and China’s deflationary pressures exert some selling pressure on the major pair.

The Australian Dollar recovered some ground against the Greenback on Friday after a measure of prices paid by producers reaffirmed that inflation is coming down, warranting further easing by the Federal Reserve.

TOKYO (Reuters) -The U.S. dollar fell from two-month highs hit overnight versus its major peers after signs of weakness in the labour market boosted the case for quicker Federal Reserve rate cuts.

The initial reaction from the British currency was positive, however, it failed to capitalize on the same despite the data came in better than expected, and the Gross Domestic Product (GDP) grew expectedly in August.

GPB/USD roiled on Thursday, battling just north of the 1.3000 handle before trimming 0.1% for the day. The Greenback was bolstered by a misfire in US Consumer Price Inflation (CPI) inflation figures, which printed hotter than markets expected.