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Forex Today: BoE rate decision, employment-related US data to ramp up volatility

Here is what you need to know on Thursday, August 7:

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NZD/USD rises beyond 0.5950 on risk appetite, strong China exports

The New Zealand Dollar appreciates for the second consecutive day against the US Dollar on Thursday, buoyed by a positive market mood and strong import and export data from China, pointing to the economic recovery of New Zealand's main trading partner.

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EUR: Ukraine truce hopes helping euro - ING

Trump's optimism on a Ukraine-Russia truce is likely feeding into euro strength, which stands in complete opposition to the dollar on the matter.

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EUR/USD: Risks skewed to the upside for now - OCBC

Euro (EUR) continued to trade higher amid USD softness. Pair was last at 1.1684 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

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GBP/JPY falls below 196.50 as BoE eyes quarter basis point rate cut

GBP/JPY depreciates after registering gains in the previous two successive sessions, trading around 196.30 during the European hours on Thursday. The currency cross remains subdued following the release of Halifax House Prices from the United Kingdom (UK).

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Pound Sterling trades broadly stable ahead of BoE's monetary policy outcome

The Pound Sterling (GBP) trades broadly stable against its major peers on Thursday, with investors awaiting the Bank of England's (BoE) interest rate decision at 11:00 GMT.

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Dow Jones futures tick up as Apple Inc. pledges $100 billion investment in the US

Dow Jones futures trade marginally higher during the European trading session on Thursday. United States (US) equities edge up as significant gains in technology companies have overcome weakness in rest of industries.

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WTI recovers to above $64.00, potential US-Russia talks in focus

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $64.10 during the early Asian trading hours on Thursday.

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US Dollar Index Price Forecast: Tests 98.00 support ahead of US Initial Jobless Claims

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its losses for the second consecutive day and trading around 98.10 during the early European hours on Thursday.

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EUR/GBP holds below 0.8750, all eyes on BoE rate decision

The EUR/GBP cross trades on a negative note near 0.8730 during the early European session on Thursday. The Euro (EUR) remains weak against the Pound Sterling (GBP) after the German Industrial Production data. All eyes will be on the Bank of England (BoE) interest rate decision later on Thursday. 

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Crude Oil price today: WTI price bullish at European opening

West Texas Intermediate (WTI) Oil price advances on Thursday, early in the European session. WTI trades at $64.05 per barrel, up from Wednesday's close at $63.63.Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $66.57 price posted on Wednesday, and trading at $67.04.

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FX option expiries for Aug 7 NY cut

FX option expiries for Aug 7 NY cut at 10:00 Eastern Time via DTCC can be found below.

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German Industrial Production drops 1.9% MoM in June vs. -0.5% expected

Germany's industrial sector activity showed a bigger-than-expected decline in June, according to the latest data published by Destatis on Thursday.

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BoE expected to cut interest rate to 4.0% despite rising inflation

The Bank of England (BoE) is scheduled to announce its decision on monetary policy this Thursday, and market participants anticipate a 25-basis-point (bps) interest rate cut from the current 4.25% to 4.0%.

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USD/CHF trades with negative bias around mid-0.8000s, downside remains cushioned

The USD/CHF pair trades with a negative bias for the third consecutive day, though it lacks follow-through selling amid mixed fundamental cues. Spot prices manage to hold above the weekly low through the Asian session on Thursday and currently trade just above mid-0.8000s, down 0.10% for the day.

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EUR/JPY rises to near 172.00 ahead of German data, Eurozone Economic Bulletin

EUR/JPY continues its winning streak for the third successive day, trading around 171.90 during the Asian hours on Thursday. The currency cross gains ground ahead of the German Industrial Production, Trade Balance data, and Eurozone Economic Bulletin due later in the day.

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USD/CAD falls further to near 1.3730 as Fed officials support interest rate cuts this year

The USD/CAD pair extends its downside move to near 1.3730 during the late Asian trading session on Thursday.

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Silver Price Forecast: XAG/USD extends the rally to above $38.00 amid renewed trade concerns

The Silver price (XAG/USD) extends its upside around $38.05 during the early European trading hours on Thursday. The white metal trades in positive territory for the fifth consecutive day amid a softer US Dollar (USD).

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USD/INR falls as RBI's neutral stance backs Rupee against US-India trade tensions

The Indian Rupee (INR) opens higher against the US Dollar (USD) for the third straight trading day on Thursday.

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AUD/JPY advances to weekly high, retakes 96.00 after Aussie/Chinese trade balance data

The AUD/JPY cross extends its weekly uptrend from a one-month trough - levels just below the 95.00 psychological mark - and attracts buyers for the third successive day on Thursday.

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