Daily market news

US Dollar (USD) could continue to weaken vs Japanese Yen (JPY); oversold conditions suggest any decline is unlikely to reach 146.50 today. In the longer run, increase in momentum indicates further USD weakness; the level to watch is 146.50, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

New Zealand Dollar (NZD) is expected to trade in a 0.5670/0.5770 range vs US Dollar (USD). NZD rebounded two days ago and closed at 0.5701. In the longer run, current price movements are likely part of a 0.5640/0.5800 range, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Euro (EUR) jumped post-tariff announcement. Reciprocal tariff rate of 20% on EU was largely in line with street’s estimates. EUR was last seen at 1.0964 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

West Texas Intermediate (WTI) Oil price falls on Thursday, early in the European session.

The EUR/USD pair climbs to around 1.0950 during the early Asian session on Thursday.

The USD/CAD pair attracts some buyers to near 1.4275, snapping the two-day losing streak during the late American session on Thursday.

On Wednesday's American session, the Australian Dollar pulled back after a brief spike to multi-day highs, with the AUD/USD pair slipping back under the 0.6300 threshold.

EUR/USD extended its upward trajectory on Wednesday, rising toward the upper end of its recent range and was last seen near the 1.0900 zone following the European session.

The USD/JPY pair trades with caution around 149.50 during North American trading hours on Wednesday.

EUR/USD stays on its toes as investors expect the European Union (EU) to be one of the leading trading partners of the United States (US) that will attract the highest tariffs.