The US Dollar (USD) faced renewed downside pressure on Thursday, dropping to multi-day lows as US Treasury yields declined across the board. The US Dollar Index (DXY) broke below the 102.00 support level, reflecting broader market caution. Key economic data releases later in the day included Export/Import Prices, Industrial/Manufacturing Production, Capacity Utilisation, and Net Long TIC Flows. Additionally, Fed Chair Christopher Warsh was scheduled to speak at the IMF-World Bank annual meetings in Singapore.
The Greenback's weakness boosted EUR/USD, lifting the pair above the 1.1200 barrier to weekly highs. Meanwhile, GBP/USD rebounded from earlier losses, challenging multi-day highs near 1.3270, with no major UK data releases to influence trading. USD/JPY extended its correction, dipping near 157.50 as the Dollar sold off, with Japan's only notable release being Foreign Bond Investment figures.
AUD/USD plunged to three-month lows, breaching 0.6900 after disappointing Australian labor market data. The focus for the Australian Dollar shifts to Monday's release of Chinese GDP data, along with Industrial Production, Retail Sales, and Unemployment Rate figures. Front-month WTI futures climbed, nearing four-week highs at $97.00 per barrel, supported by ongoing Middle East tensions and supply concerns. Gold edged higher but remained below $4,200 per troy ounce, supported by Dollar weakness and lower Treasury yields.