Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to lower key rates by 25 basis points at the June policy meeting and responds to questions from the press.

Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to lower key rates by 25 basis points at the June policy meeting and responds to questions from the press.

Russia Central Bank Reserves $ climbed from previous $678.5B to $678.7B

Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to lower key rates by 25 basis points at the June policy meeting and responds to questions from the press.

According to Xinhua news agency, United States (US) President Donald Trump and Chinese President Xi Jinping held a phone call on Trump's request to engage in discussions and reflect ongoing diplomatic communication amidst tensions.

There were 247,000 initial jobless claims in the week ending May 31, according to data published Thursday by the United States (US) Department of Labor (DOL). This figure followed the previous week's print of 239,000 (revised from 240,000) and came in worse than the market expectation of 235,000.

United States Unit Labor Costs came in at 6.6%, above expectations (5.7%) in 1Q

United States Goods Trade Balance climbed from previous $-87.62B to $-87.4B in April

United States Continuing Jobless Claims came in at 1.904M below forecasts (1.91M) in May 23

Canada International Merchandise Trade came in at $-7.14B, below expectations ($-1.5B) in April

Canada Exports down to $60.44B in April from previous $69.9B

United States Initial Jobless Claims 4-week average up to 235K in May 30 from previous 230.75K

United States Initial Jobless Claims came in at 247K, above expectations (235K) in May 30

Canada Imports down to $67.58B in April from previous $70.4B

United States Goods and Services Trade Balance above forecasts ($-94B) in April: Actual ($-61.6B)

The Indian Rupee (INR) strengthens modestly against the US Dollar (USD) on Thursday, ending a two-day losing streak as the Greenback softened following Wednesday’s weaker-than-expected US economic data.

Gold (XAU/USD) extends its upward move during the European session on Thursday, with markets focusing on the European Central Bank (ECB) decision, US employment data, and developments surrounding trade talks ahead of US President Donald Trump’s meeting with German Chancellor Friedrich Mertz. 

Eurozone ECB Main Refinancing Operations Rate meets expectations (2.15%)

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

Mexico Consumer Confidence s.a increased to 46.7 in May from previous 45.3

Mexico Consumer Confidence up to 46.5 in May from previous 45.5

The US Dollar’s recovery has been short-lived.

Japanese Yen (JPY) is soft, down 0.3% against the US Dollar (USD) and underperforming all of the G10 currencies as it fades a portion of Wednesday’s push toward the upper end of its local range, Scotiabank's Chief FX Strategist Shaun Osborne notes.

The Pound Sterling (GBP) rises to near 1.3580 against the US Dollar (USD) during European trading hours on Thursday. The GBP/USD pair gains as the US Dollar struggles to gain ground after a sharp sell-off on Wednesday.

Pound Sterling (GBP) is up a modest 0.2% against the US Dollar (USD), outperforming most of the G10 currencies as it pushes toward last week’s multi-year high, Scotiabank's Chief FX Strategist Shaun Osborne notes.

The NZD/USD pair posts a fresh seven-month high near 0.6055 on Thursday. The Kiwi pair strengthens as the New Zealand Dollar (NZD) outperforms across the board despite growing uncertainty over trade relations between the United States (US) and China.

The Canadian Dollar (CAD) is steady, holding near yesterday’s high against the US Dollar (USD). The BoC’s 'dovish hold' outcome yesterday was largely as expected, Scotiabank's Chief FX Strategist Shaun Osborne notes.

United States Challenger Job Cuts: 93.816K (May) vs previous 105.441K

EUR is quietly consolidating in a tight range just above 1.14, entering Thursday’s NA session unchanged from Wednesday’s close, Scotiabank's Chief FX Strategist Shaun Osborne notes.

Markets are trading in relatively subdued fashion, leaving the USD soft overall but little changed on the session and holding near the past week’s low, Scotiabank's Chief FX Strategist Shaun Osborne notes.