Blogs

The Mexican Peso (MXN) pares some of Wednesday’s gains and exchanges hands with losses during the North American session on Thursday.

The US Dollar (USD) gained traction during the American session, with the Dollar Index (DXY) trading at 102.45 after an initial dip to 102.20.

The greenback appears to have taken a break following the strong start of the new trading year on Thursday.

In Thursday's session, the AUD/JPY was sighted at 96.90, rallying by a notable 0.60% to peak at 97.20 during the day.

West Texas Intermediate (WTI) US Crude Oil backslid on Thursday despite a decline in Crude Oil supplies, with gasoline reserves surging higher according to data from the Energy Information Administration (EIA).

Silver price pared its earlier losses and gathered momentum late during Thursday’s North American session, up by a minuscule 0.08%, after bouncing off daily/weekly lows of $22.69 amid high US Treasury bond yields.

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The GBP/JPY extends its gains for the second straight day and faces solid resistance at the bottom of the Ichimoku Cloud (Kumo) at around 183.35.

The GBP/USD is whipsawing on Thursday, ticking into an intraday high of 1.2730 before getting forced lower by US Dollar (USD) flows dragging the Pound Sterling (GBP) back below the 1.2700 handle.

The New Zealand Dollar (NZD) is on the defensive against the US Dollar (USD) in the mid-North American session on Thursday, even though the Greenback is under downward pressure following the release of upbeat economic data from the United States.