USD/CHF edges lower as the US Dollar fails to continue gaining. The Greenback faces challenges despite upbeat US bond yields. SNB can intervene in the foreign exchange market to support the Swiss Franc. (FXStreet)

USD/CAD moves down in the negative territory as US Dollar fails to hold gains. A break above 1.3350 could lead the pair to approach the seven-day EMA at 1.3398 aligned with the psychological level at 1.3400. Technical indicators suggest the confirmation of further decline and testing the weekly low at 1.3311. (FXStreet)

GBP/USD remains calm due to lowered inflation from the United Kingdom. UK CPI and Core CPI YoY eased at 3.9% and 5.1%, respectively. Several Fed officials have denied speculations on the Fed's rate cuts and called it premature. (FXStreet)

EUR/USD recovers on the back of the weaker Greenback. The 1.1000 level could act as the psychological barrier before the two-month high at 1.1017. The seven-day EMA at 1.0922 emerges as the key support followed by the psychological level at 1.0900. (FXStreet)

EUR/GBP trades in positive territory for two straight days on Thursday. The sharp fall in UK inflation data raises the odds that the Bank of England (BoE) will cut interest rates by May 2024. Many ECB policymakers warned markets against betting on imminent rate cuts. Investors will closely watch the UK’s GDP growth numbers for the third quarter (Q3), due on Friday. (FXStreet)

NZD/USD grapples to gain ground after retreating from a five-month high at 0.6298. Improved US data showed positive signs for the US economy, providing support for USD. Investors await US GDP data for further impetus on the US economy. (FXStreet)

USD/MXN retraces its recent profits despite the dovish Banxico’s outlook. Mexico’s Retail Sales MoM rose to 0.8%, while year-on-year improved to 3.4%. US Dollar demonstrates weakness despite the Fed’s dismissal of rate cut speculations. (FXStreet)

EUR/JPY loses traction around 156.60, backed by the positive economic outlook from the Japanese government. The cross maintains the bearish vibe as it holds below the key EMA; RSI indicator stands in bearish territory below 50. The immediate resistance level is seen at 157.71; the initial support level is located at 155.38. (FXStreet)

WTI price faced the challenge as US Crude inventories rose unexpectedly. US EIA Crude Oil Stocks Change rose to 2.909M barrels against the expected decrease of 2.233M barrels. US-led coalition revised its compliance regime to confirm that the Russian oil was sold within the imposed price cap. US Treasury Department imposed fresh sanctions on a ship manager and three oil traders engaged in the Russian oil trade. (FXStreet)

Gold price catches fresh bids on Thursday and reverses a major part of the overnight losses. Dovish Fed expectations keep the USD bulls on the defensive and lend support to the metal. A softer risk tone further benefits the safe-haven XAU/USD ahead of the US macro releases. (FXStreet)

Silver gains some positive traction for the third successive day on Thursday. The technical setup favours bulls and supports prospects for further gains. A break below an ascending trend line is needed to negate the positive bias. (FXStreet)

Source: FXStreet, DailyFX

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