Analysis

The Australian Dollar (AUD) edges lower against the US Dollar (USD) following two days of gains, as Australia's mixed Producer Price Index (PPI) data for the third quarter was released on Friday.

The Japanese Yen (JPY) retraces some of its recent gains following the release of the Manufacturing Purchasing Managers Index (PMI) by Jibun Bank and S&P Global on Friday.

The USD/CHF pair drifts lower to around 0.8655 during the early European session on Thursday.

Japan equities were lower at the close on Thursday, as losses in the Transportation Equipment, Rubber and Pharmaceutical Industry sectors propelled shares lower.

EUR/GBP trades slightly lower during early European hours on Thursday near 0.8360, following strong gains in the previous session.

European Central Bank (ECB) President Christine Lagarde said that the rate cuts will continue, but it will be determined by underlying economic data in the coming months, per Le Monde. 

The EUR/USD pair meets with some supply during the Asian session on Thursday and erodes a part of the previous day's gains to the 1.0870 area, or a one-and-half-week top.

The EUR/USD pair attracts some buyers to near 1.0855 during the early Asian session on Thursday.

EUR/USD loses ground after two days of gains, trading around 1.0810 during the Asian hours on Wednesday. The Euro receives downward pressure as the European Central Bank (ECB) is widely anticipated to reduce its Deposit Facility Rate once again.

Japan equities were higher at the close on Tuesday, as gains in the Pharmaceutical Industry, Automobiles&Parts and Precision Instruments sectors propelled shares higher.

The AUD/USD pair remains under some selling pressure for the third successive day on Tuesday and drops to its lowest level since August 8, closer to mid-0.6500s during the first half of the European session.

The GBP/USD pair attracts fresh sellers following the previous day's good two-way price move and slides closer to mid-1.2900s during the Asian session on Tuesday.

EUR/USD retraces its recent gains from the previous session, trading around 1.0810 during the Asian hours on Tuesday. A review of the daily chart shows that the pair tests the upper boundary to return to the descending channel pattern. which could reinforce a bearish bias for the pair.

The EUR/USD pair holds steady around 1.0810 on the consolidation of the US Dollar (USD) during the early Asian session on Tuesday.

The GBP/USD pair trades with mild losses near 1.2970 on Tuesday during the early Asian session.

The JPY slumped at the outset of trading overnight in response to the results of Japan’s elections on Sunday, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Australian Dollar (AUD) continues its decline for the second straight session on Monday. However, hawkish comments from the Reserve Bank of Australia (RBA) may limit further losses for the AUD/USD pair.

The GBP/USD pair extends the decline to around 1.2945 during the early European session on Monday. A bullish US Dollar (USD) on the back of bets for a less aggressive easing by the Federal Reserve (Fed) drags the pair lower.

EUR/USD inches lower for the second successive day, trading around 1.0780 during the Asian session on Monday. A review of the daily chart shows that the pair tests the upper boundary to return to the descending channel pattern. which could reinforce a bearish bias for the pair.

EUR/USD trimmed a near-term rebound on Friday, slamming the door on a clean bullish recovery and keeping bids trapped near the 1.0800 handle to round out the trading week.