Daily market news

The New Zealand Dollar (NZD) could retest the 0.5865 level before a rebound is likely; the strong support at 0.5850 is unlikely come under threat.

USD/CAD retraces its recent gains from the previous day as the commodity-linked Canadian Dollar (CAD) receives support from the improved crude Oil prices amid rising fears of supply disruption amid geopolitical tensions.

EUR/GBP appreciates after two days of losses, trading around 0.8340 during the Asian hours on Thursday.

The USD/CHF pair struggles to capitalize on the previous day's recovery from the vicinity of the 0.8800 mark or a one-week low and attracts fresh sellers during the Asian session on Thursday.

Silver price (XAG/USD) retraces its recent losses from the previous session, trading around $31.00 during the Asian hours on Thursday.

EUR/USD bulls frayed at their ends during the midweek hump session, giving back nearly half of a percent and keeping Fiber price action hamstrung just north of the 1.0500 major handle.

Silver's price retreats over 1.14% on Wednesday, yet it remains up 1.90% in the week as traders ditch the grey metal in favor of the Greenback.

The Pound Sterling lost ground versus the US Dollar on Wednesday following a hot UK inflation report, which increased the chances that the Bank of England (BoE) would pause its easing cycle.

The AUD/USD pair drops sharply to near the psychological support of 0.6500 in the North American trading session on Wednesday.

The Canadian Dollar (CAD) has slipped back somewhat after gains met resistance in the mid-1.3950 area, as expected, Scotiabank’s Chief FX Strategist Shaun Osborne notes.