Trading news

Silver prices (XAG/USD) fell on Thursday, according to FXStreet data.

EUR/USD ticks lower to near 1.0400 in Thursday’s European session as the US Dollar (USD) gains ground.

The Central Bank of Turkey (CBT) is scheduled to meet today, the first time since the start of the cutting cycle in December, ING’s FX analyst Frantisek Taborsky notes.

Silver (XAG/USD) drifts lower on Thursday and for now, seems to have snapped a three-day winning streak to the highest level since December 13, around the $31.00 neighborhood touched the previous day.

Further sideways trading appears likely, probably in a 0.6240/0.6295 range. In the longer run, current price action is likely the early stages of a recovery phase that could potentially reach 0.6350, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.

GBP/JPY pauses its four-day rally, trading near 192.50 during Thursday's European session.

Monday's correction in the dollar has not run very far at all. That sell-off was premised on Day One not nearly being as aggressive with tariffs as many had feared. Currently, the market’s attention is on two significant upcoming dates, ING’s FX analyst Chris Turner notes.

Current price movements are likely part of a 1.2280/1.2355 range trading phase. In the longer run, Pound Sterling (GBP) view is positive, anticipating a move to 1.2410, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.

This week's EUR/USD bounce has been pretty muted so far. As above, there is no way investors can expect to hear an 'all-clear' signal on tariffs.

Euro (EUR) is likely to trade in range between 1.0380 and 1.0440. In the longer run, current price action is part of a recovery phase that could extend to 1.0480, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.

NZD/USD continues to remain subdued for the third consecutive session, trading around 0.5660 during the European hours on Thursday.

West Texas Intermediate (WTI) Oil price extends its losing streak for the sixth successive session, trading around $74.90 during the early European hours on Thursday.

GBP/USD climbed to a two-week-high near 1.2380 in the European session on Wednesday but lost its traction to close the day marginally lower.

France Business Climate in Manufacturing came in at 95 below forecasts (96) in January

China’s Commerce Ministry said in a statement on Thursday that they are “willing to work with the US to promote stable and healthy development of economic and trade ties.” “Tariff measures are not good for China, US, and the rest of the world,” the Ministry said.

The Pound Sterling (GBP) trades cautiously against its major peers on Thursday as the higher-than-expected United Kingdom (UK) Public Sector Net Borrowing in December has weighed on the economic outlook.

The EUR/GBP cross softens to near 0.8450 during the early European trading hours on Thursday.

Turkey Consumer Confidence: 81 (January) vs previous 81.3

Here is what you need to know on Thursday, January 23: Major currency pairs fluctuate in relatively tight ranges early Thursday as investors await the next fundamental catalyst.

The EUR/JPY cross extends the rally to near 163.05 during the early European trading hours on Thursday.