Blogs

The Swiss Franc (CHF) traded mixed on Thursday after policy meetings by all the major central banks provided traders with more intel on the future course of interest rates – a key driver of currency valuations.

The US Dollar (USD) declined to 101.80, its weakest position since August.

The USD/JPY edges down following Wednesday's Federal Reserve’s (Fed) decision, which sent US Treasury yields plummeting alongside the Greenback.

West Texas Intermediate (WTI) has recovered additional ground on Thursday, extending a rebound sparked by a dovish pivot from the US Federal Reserve (Fed) on Wednesday that saw a broad-base market sentiment recovery, kicking off recovery rallies in the majority of asset classes and forcing the US Dollar (USD) into fresh lows.

In Thursday's session, the USD/NOK pair took a downward tumble, plunging to its lowest level since August at about 10.520.

The Mexican Peso (MXN) depreciates against the US Dollar (USD), losing some ground gained on Wednesday after the US Federal Reserve (Fed) decided to end its tightening cycle, hinting it’s ready to cut rates in 2024.

Gold price sees green, though it has retreated somewhat after reaching a new weekly high of $2047.91, clings to gains of 0.15%, and trades at around $2030.20 a troy ounce after hitting a daily low of $2024.37.

The EUR/JPY climbed back into the 156.00 handle in Thursday’s chart recovery sparked by an on-balance European Central Bank (ECB) that managed to strike an on-balance message that didn’t lean too heavily into either hawkish or dovish territory.

Silver price climbs and reclaims the $24.00 figure after extending its gains for the second consecutive day, following the Federal Reserve’s dovish pivot on Wednesday.

The AUD/USD tapped a four-month high of 0.6728 in early Thursday trading, with the Aussie (AUD) extending a Fed-fueled risk rally after Australian labor figures beat the street, and the US Dollar (USD) tumbles across the broader FX market.