Fundamental

The Australian Dollar (AUD) stays under pressure on Thursday, with AUD/USD slipping toward two-month lows near the 0.6400 support.

Financial markets keep struggling for direction, with the EUR/USD pair still confined to a tight range and currently trading at around 1.1650. Multiple headlines are pushing the pair back and forth, although none have been enough to trigger a clear directional movement.

After dropping to its lowest level in over a week below 1.3450 in the Asian session on Thursday, GBP/USD regained its traction and advanced to the 1.3470 region. Despite this recent recovery, the pair’s technical outlook doesn’t point to an increasing buyer interest.

EUR/USD holds steady at around 1.1650 after starting the day under bearish pressure, as the Euro benefits from the Purchasing Managers’ Index (PMI) data releases from Germany and the Eurozone.

The USD/CAD pair touches its highest level since May 22 during the early part of the European session on Thursday, with bulls now awaiting a move beyond the 1.3900 mark before placing fresh bets.

Gold is reversing a part of the previous rebound from three-week lows of $3,311 in Thursday’s Asian session, awaiting the preliminary S&P Global US Manufacturing and Services PMIs for the next directional impetus.