Analysis

USD/CAD retraces its recent losses, trading around 1.3510 during the Asian hours on Thursday. The US Dollar (USD) remains solid as traders adopt caution ahead of the release of US ISM Services PMI and Initial Jobless Claims scheduled to be released later in the North American session.

The AUD/USD pair softens around 0.6720 during the early Asian session on Thursday.

Citi economists weighed in on the possible actions of the Reserve Bank of Australia (RBA) in response to a hypothetical large rate cut by the U.S. Federal Reserve.

The U.S. dollar reached a two-week peak compared to the euro, with investors preparing for a week filled with crucial data, including the U.S. payrolls report due on Friday.

The AUD/USD pair gains traction near 0.6715 during the early Asian session on Wednesday.

The USD/CAD pair trades on a stronger note near 1.3500 during the early Asian session on Tuesday. The USD Index (DXY), which measures the USD’s value against a basket of six major currencies, consolidated around 101.60 as traders prefer to wait on the sidelines ahead of the key labor data this week.

The Australian Dollar (AUD) edges lower against the US Dollar (USD) as traders await the ISM Manufacturing PMI data due on Tuesday. The downside of the AUD could be limited due to improved risk sentiment amid dovish sentiment surrounding the Fed.

The GBP/USD pair trades on a weaker note near 1.3125 during the early European session on Tuesday. The sell-off of the major pair is dragged lower by the firmer US Dollar (USD) ahead of the key US economic data.

The Australian Dollar (AUD) extends its losses against the US Dollar (USD) following the release of key economic data on Monday.

USD/CAD retraces its recent losses, trading around 1.3500 during the Asian session on Monday. This upside is attributed to the tepid commodity-linked Canadian Dollar (CAD) following the lower crude Oil prices. Given the fact that Canada is the largest Oil exporter to the United States (US).

The AUD/USD pair posts modest gains near 0.6770 after retreating from Friday’s high of 0.6815 during the early Asian session on Monday.

USD/CAD snaps its two-day winning streak, trading around 1.3480 during the European session on Friday.

GBP/USD loses ground for the third successive session, trading around 1.3160 during the Asian hours on Friday. This downside could be attributed to the improved US Dollar (USD) following stronger-than-expected economic data released on Thursday.

EUR/USD is back in the green zone early Thursday, reversing a part of Wednesday’s steep sell-off. The further upside, however, appears elusive if risk aversion gathers steam and revives the safe-haven demand for the US Dollar (USD).

The AUD/USD pair trades on a stronger note around 0.6790 on Thursday during the Asian trading hours. The hotter-than-expected Australian CPI inflation data push back the expectation of a rate cut by the Reserve Bank of Australia (RBA) and provide some support to the Aussie. 

GBP/USD is making a headway back toward the 29-month high set on Tuesday at 1.3266. The pair is helped by a renewed selling seen in the US Dollar even as risk-off flows dominate, in the aftermath of the disappointing guidance shared by the American AI titan, Nvidia.  

The USD/CAD pair trades on a weaker note near 1.3480 during the early Asian session on Thursday.

The USD/CAD pair recovers some lost ground near 1.3460, snapping the three-day losing streak during the early European session on Wednesday.

AUD/USD is paring back gains to trade near 0.6800 in Asian trading on Wednesday, having reversed a spike to a new seven-month high of 0.6813.

The AUD/USD pair trades with mild losses around 0.6790 on Wednesday during the early Asian session.