EUR/USD is trading above 1.18, as the dollar declines alongside yields, following a large US debt issuance. Weekly jobless claims and the ongoing fiscal impasse in Washington are eyed.
GBP/USD is recovering as the dollar cedes ground. Investors are shrugging off concerns about the downfall in the British economy and concerns about the furlough scheme.
Gold edged higher during the Asian session on Thursday, albeit lacked any strong follow-through and remained well with the previous day's broader trading range.
The US dollar is on the back foot after the large bond auction and as optimism prevails in markets despite the fiscal impasse in Washington. Sino-American tensions and a US-EU are eyed ahead of weekly jobless claims.
Having faced rejection just shy of the 43 mark, WTI (futures on Nymex) turned lower to mid-42s, as the bears fought back control amid downbeat OPEC’s oil demand forecasts.