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USD/JPY: Squeeze continues; watch BoJ - OCBC

USD/JPY built on momentum to trade higher. Another round of rebound in USD, following market disappointment with Fed outcome was the latest trigger to fuel the upmove. Pair was last at 149.66, OCBC's FX analysts Frances Cheung and Christopher Wong note.

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Comex Copper prices plunge on tariff details - ING

Comex Copper prices are under significant pressure, falling almost 19% after the White House provided further details on Copper tariffs set to take effect on 1 August, ING's commodity experts Ewa Manthey and Warren Patterson note.

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Dow Jones futures rise due to strong earnings from tech heavyweights, US PCE eyed

Dow Jones futures advance ahead of the US market opening on Thursday, trading around 44,800, up by 0.38%, during European hours. Meanwhile, S&P 500 futures are sharply up by 1.07% to near 6,460, and Nasdaq 100 futures appreciate 1.45% to trade near 23,800.

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DXY: Focus shifts back to data - OCBC

US Dollar (USD) bulls extended another leg up overnight following FOMC/Powell's press conference, OCBC's FX analysts Frances Cheung and Christopher Wong note.

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EUR: Staying fragile - ING

Eurozone second-quarter growth was marginally better than expected, but at 0.1% QoQ it still proved unsupportive for the euro, even when accounting for the tariff distortions, ING's FX analyst Francesco Pesole notes.

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Silver Price Forecast: XAG/USD remains weak, with upside attempts limited at $37.25 

Silver (XAG/USD) remains on the defensive on Thursday's Early European session, licking its wounds after a 2.7% sell-off on Wednesday.

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Secondary tariff concerns grow with Indian threat - ING

Oil prices firmed further yesterday, driven by a shortened deadline for Russia to come to a peace deal with Ukraine and threats of secondary tariffs on countries importing Russian Oil.

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Fed keeps rates unchanged, Powell signals patience - OCBC

UST yields rose with short-end bonds underperforming after FOMC decision. There was a dovish tilt at the statement but not in Powell's comments, OCBC's FX analysts Frances Cheung and Christopher Wong note.

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Australia: RBA likely to cut in Aug as inflation cools further - UOB Group

Australia's consumer price index (CPI) rose 0.7% q/q in 2Q25, easing from the 0.9% q/q reading in 1Q25, and coming in weaker than the consensus estimate of 0.8% The slightly weaker headline inflation outcome was nonetheless in line with the Reserve Bank of Australia (RBA)'s May projection of 0.7%, U

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WTI steadies near $69.50 due to US Oil builds, prospects for Brazilian Oil exports

West Texas Intermediate (WTI) Oil price halts its three-day winning streak, trading around $69.60 per barrel during the early European hours on Thursday. Crude Oil prices struggle, possibly driven by a surprise build in the United States (US) crude stocks.

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Pound Sterling finds cushion as US Dollar takes a breather from recent rally

The Pound Sterling (GBP) rebounds slightly to near 1.3270 against the US Dollar (USD) during the European trading session on Thursday, bouncing from an over two-month low of 1.3228 posted the previous day.

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EUR/JPY Price Forecast: Recovers strongly from 169.70 as BoJ holds interest rates steady

The EUR/JPY pair attracts significant bids around 169.70 and recovers to near 170.80 on Thursday. The cross snaps three-day losing streak as the Japanese Yen (JPY) weakens after the Bank of Japan (BoJ) left interest rates steady at 0.5%, as expected.

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USD/CAD holds gains above 1.3815 with US PCE Inflation on tap

The US Dollar stands tall, favoured by solid US data and a hawkish Fed.

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EUR/GBP holds positive ground above 0.8600 as traders await Eurozone HICP release

The EUR/GBP cross trades on a stronger note around 0.8620 during the early European session on Thursday. The Pound Sterling (GBP) edges lower against the Euro (EUR) as traders remain confident that the Bank of England (BoE) will cut interest rates next month after a slew of weaker UK economic data. 

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BoJ's Ueda: Japan's economy recovering moderately albeit with some weakness

Bank of Japan (BoJ) Governor Kazuo is addressing a press conference on Thursday, explaining the central bank's decision to maintain the interest rate at 0.5% for the fourth consecutive meeting.

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Forex Today: US Dollar consolidates Fed-inspired gains, key data incoming

Here is what you need to know on Thursday, July 31:

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Crude Oil price today: WTI price bearish at European opening

West Texas Intermediate (WTI) Oil price falls on Thursday, early in the European session. WTI trades at $69.45 per barrel, down from Wednesday's close at $69.83.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $72.24 after its previous daily close at $72.61.

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FX option expiries for Jul 31 NY cut

FX option expiries for Jul 31 NY cut at 10:00 Eastern Time via DTCC can be found below.

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USD/CHF tumbles to below 0.8150 ahead of Trump's tariff deadline

The USD/CHF pair drifts lower to around 0.8125 during the early European trading hours. The Greenback weakens against the Swiss Franc (CHF) despite the hawkish stance from the US Federal Reserve officials.

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NZD/USD moves away from over one-month low, climbs to 0.5925-0.5930 on softer USD

The NZD/USD pair gains strong positive traction during the Asian session on Thursday and for now, seems to have snapped a five-day losing streak to sub-0.5900 levels, or over a one-month low touched the previous day.

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