South Africa SARB Interest Rate Decision meets forecasts (6.75%)

Russia Central Bank Reserves $ climbed from previous $719.8B to $734.1B

USD/CHF advances for the fifth consecutive day on Thursday, with the pair drawing strong support from broad US Dollar (USD) strength as markets position cautiously ahead of the delayed September Nonfarm Payrolls (NFP) report due at 13:30 GMT.

The United States (US) Bureau of Labor Statistics (BLS) releases the delayed Nonfarm Payrolls (NFP) data for September on Thursday at 13:30 GMT.

EUR/USD extends losses for the fifth consecutive day and trades at 1.1515 at the time of writing on Thursday after a sharp reversal from levels near 1.1600 on Wednesday.

Silver (XAG/USD) trades around $50.80 on Thursday at the time of writing, down 0.70% on the day. The white metal is paring part of the earlier weekly advance, after prices briefly tested the $52.00 area before being rejected as the US Dollar (USD) regained strength.

The US Dollar is trading higher across the board on Thursday as investors pare back bets of a Fed interest rate cut in December.

The Pound Sterling (GBP) moves higher against its major currency peers on Thursday. The British currency gains ground after an intense sell-off on Wednesday, prompted by heightened speculation of an interest rate cut by the Bank of England (BoE) at its next monetary policy meeting in December.

Gold (XAU/USD) trades slightly weaker on Thursday, holding within a choppy intraday range as investors stay on the sidelines ahead of the delayed September Nonfarm Payrolls (NFP) report due at 13:30 GMT. At the time of writing, XAU/USD is trading near $4,057, down roughly 0.45%.

The Pound remains bid against an ailing Japanese Yen on Thursday.

Gold price (XAU/USD) trades 0.5% lower to near $4,052.00 during the European trading session on Thursday. The yellow metal faces selling pressure as traders have trimmed bets supporting an interest rate cut by the Federal Reserve (Fed) in the December policy meeting.

USD/JPY trades higher on Thursday, around 157.20 at the time of writing, up  0.20% on the day. The pair has extended its upward momentum throughout the week, supported by a macroeconomic backdrop that continues to favor the US Dollar (USD) over the Japanese Yen (JPY).

The New Zealand Dollar posts marginal gains against the USD on Thursday, trimming losses after a nearly 1% decline on Wednesday to seven-month lows at 0.5585.

The Indian Rupee (INR) opens on a negative note against the US Dollar (USD) on Thursday. The USD/INR pair jumps to near 88.85 as the US Dollar (USD) outperforms its peers, following the release of the Federal Open Market Committee (FOMC) minutes of the October policy meeting on Wednesday.

USD/CNH remains near the middle of its multi-month range as China keeps key loan rates and the 7-day reverse repo unchanged.

USD/JPY rallied close to 158.00, its highest level since January 15, driven by broad USD strength and the continued sell off in JGBs, BBH FX analysts report.

US Dollar (USD) has powered above its 200-day moving average as Fed funds futures slashed rate cut bets. The US employment data void and hawkish FOMC October meeting minutes led markets to reduce odds of a December 25bps rate cut by more than 15pts to as low as 27%.

Eurozone Construction Output w.d.a (YoY): -0.3% (September) vs previous 0.1%

Eurozone Construction Output s.a (MoM): -0.5% (September) vs previous -0.1%

USD/JPY continues its rebound, breaking a multi-month descending trend line and approaching the January high near 158.85–159.10. While resistance in this zone may prompt a short-term pullback, the recent low at 154.40 offers key support, Société Générale's FX analysts note.

Spain 10-y Obligaciones Auction: 3.199% vs 3.111%

Slight increase in upward momentum could lead to US Dollar (USD) testing 7.1220. In the longer run, for the time being, USD is likely to trade between 7.1020 and 7.1285, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD/JPY has surged into the 157-158 range, a zone traditionally sensitive for Japanese authorities, ING's FX analyst Francesco Pesole notes.

There is scope for the rally in US Dollar (USD) to test 157.55, the major resistance at 158.00 is likely out of reach for now. In the longer run, USD is expected to continue moving higher; the next level to watch is 158.00, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Stock markets cleared the key hurdle of Nvidia's earnings release yesterday. While the S&P500 is still down in November as valuation concerns are seemingly on the rise, yesterday's strong earnings are offering relief to global risk sentiment and helping the high-beta G10 segment stabilise.

Oil prices have ticked up from Wednesday’s lows at $58.65, reaching session highs above $59.60 at the time of writing.

New Zealand Dollar (NZD) could continue to weaken, but any decline is likely limited to a test of 0.5585. In the longer run, given the sharp increase in downward momentum, NZD is likely to weaken to 0.5585, potentially 0.5565, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

On Thursday, markets should hear from the opposing sides of the Bank of England's MPC spectrum as Catherine Mann (hawk) and Swati Dhingra (dove) are both scheduled to speak, ING's FX analyst Francesco Pesole notes.

European Central Bank (ECB) Governing Council (GC) member and Governor of the Central Bank of Ireland, Gabriel Makhlouf, said on Thursday that the current monetary policy is appropriate and any adjustment is unlikely, unless there is a material change.

Australian Dollar (AUD) is likely to trade between 0.6450 and 0.6510. In the longer run, downward bias remains intact, but AUD must close below 0.6440 before a move to 0.6405 can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.