The European Central Bank (ECB) announced on Thursday that it left key rates unchanged following the October policy meeting, as expected.

Eurozone ECB Main Refinancing Operations Rate in line with forecasts (2.15%)

Eurozone ECB Rate On Deposit Facility meets forecasts (2%)

Annual inflation in Germany, as measured by the change in the Consumer Price Index (CPI), declined to 2.3% in October's preliminary estimate from 2.4% in September, Germany's Federal Statistical Office reported on Thursday. This print came in above the market expectation of 2.2%.

Pound Sterling (GBP) is little changed on the session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

Stronger than expected Q3 GDP from France (+0.5% Q/Q) helped lift Eurozone growth to a better–than-expected 0.2% in the quarter and 1.3% in the year, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Euro (EUR) is holding firm against the Japanese Yen (JPY) after surging to record highs earlier in the day, as the Yen remains broadly weaker across major peers following the Bank of Japan’s (BoJ) interest rate decision.

The Bank of Canada (BoC) delivered a downbeat assessment of the outlook amid a “structural” shift in the economy resulting from US trade policies, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

Germany Consumer Price Index (YoY) registered at 2.3% above expectations (2.2%) in October

Russia Central Bank Reserves $ fell from previous $742.4B to $731.2B

Germany Harmonized Index of Consumer Prices (YoY) in line with forecasts (2.3%) in October

Germany Harmonized Index of Consumer Prices (MoM) came in at 0.3%, above forecasts (0.2%) in October

Germany Consumer Price Index (MoM) registered at 0.3% above expectations (0.2%) in October

The US Dollar (USD) is mixed to slightly firmer as markets grapple with a range of issues driving market sentiment, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

EUR/USD is coming under growing bearish pressure heading into the outcome of the European Central Bank's (ECB) monetary policy decision on Thursday.

Gold is going through a mild recovery on Thursday, following a four-day losing streak.

Gold (XAU/USD) steadies on Thursday after a volatile session, as traders digest the Federal Reserve’s (Fed) interest rate cut and cautious monetary policy outlook.

Mexico Gross Domestic Product (YoY) in line with expectations (-0.2%) in 3Q

Mexico Gross Domestic Product (QoQ) meets forecasts (-0.3%) in 3Q

USD/CHF trades higher around 0.8000 on Thursday, up 0.20% for the day. The US Dollar (USD) finds support after the Federal Reserve (Fed) delivered a widely expected 25 basis-point rate cut to a range of 3.75%–4.00%, while signaling a slower pace of future easing.

The US Dollar is trading higher for the second consecutive day against a basket of currencies.

USD/CAD holds under its 200-day moving average near 1.3950 after the Bank of Canada delivered a 25bps policy rate cut to 2.25%.

NZD/USD edges higher toward 0.5800 as New Zealand’s ANZ business outlook survey shows improving sentiment, with business confidence and expected own activity reaching multi-month highs.

The Pound Sterling (GBP) drops to near 1.3185 against the US Dollar (USD) during the European trading session on Thursday.

The FOMC lowered its policy rate by 25 bps to the 3.75-4.00% range. There were two dissents, with Miran favouring a half-point cut, and Schmid favoring no cut. The Schmid dissent came as a surprise, and likely reflects wider disagreement and uncertainty going forward.

The USD/JPY pair trades 0.8% higher to near 154.00 during the European trading session on Thursday. The pair strengthens as the Japanese Yen (JPY) underperforms across the board following the Bank of Japan (BoJ) monetary policy announcement earlier in the day.

EUR/USD retraced earlier losses to trade above 1.1600 ahead of the ECB meeting, where the policy rate is widely expected to remain at 2.00%. Strong Q3 GDP growth and stable inflation reinforce the view that the bar for further easing is high, keeping the euro supported, BBH FX analysts report.

The price action suggests US Dollar (USD) could drop below 7.0860; the next level to watch is 7.0770. Only a breach of 7.1150 would indicate the decline in USD has stabilised, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Italy Industrial Sales n.s.a. (YoY): -0.1% (August) vs previous 1.2%

Italy Industrial Sales s.a. (MoM) dipped from previous 0.4% to -0.7% in August