Gold (XAU/USD) is ticking up slightly on Thursday, benefiting from escalating global trade tensions as recent tariff announcements from US President Trump have rekindled investors' appetite for bullion as a traditional safe-haven asset.

The US Dollar (USD) holds its footing on Thursday after a weak start to the day, as investors digest fresh tariff threats from US President Donald Trump.

Russia Central Bank Reserves $ rose from previous $687.7B to $690.6B

Silver (XAG/USD) is holding firm on Thursday after a strong start to the day, recovering from a three-day losing streak as market sentiment turns cautious once again.

The US Department of Labour (DOL) reported on Thursday that the number of US citizens submitting new applications for unemployment insurance fell to 227K for the week ending July 5.

United States Continuing Jobless Claims below forecasts (1.98M) in June 27: Actual (1.965M)

United States Initial Jobless Claims came in at 227K, below expectations (235K) in July 4

United States Initial Jobless Claims 4-week average down to 235.5K in July 4 from previous 241.5K

The EUR/USD pair has been unable to hold gains and trades with minor losses ahead of the US session opening.

Brazil IPCA Inflation came in at 0.24%, above expectations (0.2%) in June

The Pound Sterling (GBP) ticks down against its major peers on Thursday. The British currency drops as the Bank of England (BoE) warns of multiple risks to the United Kingdom (UK) economy in its mid-year Financial Policy Committee (FPC) report on Wednesday.

The Japanese Yen (JPY) is quietly consolidating its recent pullback, attempting to find support following a poor start to July, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

India M3 Money Supply declined to 9.6% in June 23 from previous 9.8%

The Pound Sterling (GBP) is up a modest 0.2% and outperforming most of the G10 currencies in quiet trade, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The EUR/GBP pair trades in a tight range around 0.8625 during the European trading session on Thursday.

The US Dollar is featuring a moderate recovery on Thursday, paring some losses after the previous two days’ reversal. The pair, however, remains trading near long-term lows, with upside attempts capped below the 0.8000 psychological level.

The Euro (EUR) is quietly consolidating in the low 1.17s and extending this week’s narrow range, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Canadian Dollar (CAD) remains range-bound but has made a little progress overnight, reflecting the generally softer US Dollar (USD) undertone, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The US Dollar (USD) is trading a little more defensively overall this morning as markets digest the latest round of US tariff news—a hefty 50% on copper and 50% on Brazil, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

South Africa Manufacturing Production Index (YoY) came in at 0.5%, above forecasts (-1.5%) in May

Gold (XAU/USD) found buyers right below the $3,300 level on Wednesday to regain some of the ground lost over the previous days.

The AUD/USD climbs to near 0.6570 during the European trading session on Thursday.

Softening underlying tone may lead to US Dollar (USD) edging lower and testing 7.1720 against Chinese Yuan (CNH). In the longer run, increasing momentum suggests USD may rise, but it is too early to expect 7.2000 to come into view, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The US Dollar retreated from two-week highs above 1.3700 on Wednesday, following the release of the FOMC m¡inutes and weighed by falling US Treasury yields.

USD/JPY eased off from this week’s high above 147.00, while JPY continues to underperform against most major currencies, BBH FX analysts report.

Portugal Global Trade Balance declined to €-3.217B in May from previous €-3.018B

Ireland HICP (MoM) in line with forecasts (0.5%) in June

Ireland HICP (YoY) meets forecasts (1.6%) in June

Ireland Consumer Price Index (MoM) increased to 0.5% in June from previous 0%

Ireland Consumer Price Index (YoY) up to 1.8% in June from previous 1.7%