The EUR/GBP cross edges higher on Thursday, snapping a three-day losing streak and rebounding from the seven-week low hit on Wednesday.

The GBP/USD posted moderate losses during the North American session on Thursday after the Federal Reserve (Fed) held rates on Wednesday and failed to provide forward guidance for the September meeting. This, along with solid US jobs data and an uptick in inflation, boosted the Dollar.

The Euro (EUR) trades under pressure for the sixth consecutive day against the US Dollar (USD) on Thursday, with EUR/USD struggling to recover as the Greenback holds firm near two-month highs.

The Canadian Dollar (CAD) remains on the back foot for a sixth straight day against the US Dollar (USD) on Thursday, sinking to its weakest level since late May.

For a brief period this morning, market commentators mused that the BoJ could announce the next rate hike of the cycle as soon as October. That conclusion was drawn from what appeared to be a slightly more hawkish then expected outcome to today’s BoJ policy meeting.

Germany Consumer Price Index (YoY) above forecasts (1.9%) in July: Actual (2%)

Germany Harmonized Index of Consumer Prices (MoM) meets forecasts (0.4%) in July

Germany Consumer Price Index (MoM) above expectations (0.2%) in July: Actual (0.3%)

Germany Harmonized Index of Consumer Prices (YoY) below forecasts (1.9%) in July: Actual (1.8%)

The Canadian Dollar (CAD) is soft, trading at fresh lows and plumbing levels last seen in late May as market participants respond to risks related to trade and consider their implications for the BoC, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report, Scotiabank's Chief FX Stra

The New Zealand Dollar recovery attempt against its US counterpart was capped at the 0.5940 area earlier today, and the pair has given away gains during Thursday’s European session, retreating to levels right above multi-month lows, at 0.5885.

G10 currencies are mixed as we head into Thursday’s NA session, with no clear unifying theme as markets respond to a heavy overnight schedule of data and central bank risk events, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Euro (EUR) is up a modest 0.3% against the US Dollar (USD) and outperforming most of the G10 currencies as we head into Thursday’s NA session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The US Dollar maintains its bid tone intact against the Swiss Franc, holding gains after a nearly 3% rally over the last few days.

US Dollar (USD) view remains positive; the focus now is at 150.00, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The AUD/USD pair attempts to hold the immediate support level of 0.6430 during the European trading session on Thursday. The Aussie pair attracts slight bids on upbeat Australian Retail Sales data for June, released earlier in the day.

There is a chance for NZD to test 0.5885 before stabilization can be expected; the next major support at 0.5845 is unlikely to come into view. In the longer run, NZD is expected to decline further to 0.5885, potentially reaching 0.5845, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The US Dollar keeps marching higher against a vulnerable Japanese Yen on Thursday as the Bank of Japan’s Governour, Kazuo Ueda, cooled hopes of immediate rate hikes, following the bank’s monetary policy decision.The BoJ maintained its key interest rate at 0.5%, as widely expected, and Ueda reiterate

Strong momentum is likely to lead to further weakness; oversold conditions suggest Australian Dollar (AUD) may not reach 0.6405.

The Japanese Yen (JPY) weakened after BoJ Governor Ueda struck a dovish tone, signaling patience in policy normalization and suggesting officials are comfortable with the currency’s current softness, even as global markets brace for a potential USD/JPY retest of March highs, TDS' Macro Strategist Al

Euro (EUR) could test the 1.1380 level; a sustained drop below this level seems unlikely. In the longer run, EUR view remains negative; the next level to watch is 1.1350, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Eurozone Unemployment Rate registered at 6.2%, below expectations (6.3%) in June

EUR/USD has shifted into a clear downtrend after failing to hold above 1.1830 and breaking below its multi-month trend line.

USD/JPY built on momentum to trade higher. Another round of rebound in USD, following market disappointment with Fed outcome was the latest trigger to fuel the upmove. Pair was last at 149.66, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Eurozone second-quarter growth was marginally better than expected, but at 0.1% QoQ it still proved unsupportive for the euro, even when accounting for the tariff distortions, ING's FX analyst Francesco Pesole notes.

Silver (XAG/USD) remains on the defensive on Thursday’s Early European session, licking its wounds after a 2.7% sell-off on Wednesday.

Germany Baden-Wuerttemberg CPI (YoY) unchanged at 2.3% in July

Germany Baden-Wuerttemberg CPI (MoM) up to 0.4% in July from previous 0.2%

Germany Hesse CPI (MoM) rose from previous 0.1% to 0.3% in July

Germany Hesse CPI (YoY) rose from previous 2.3% to 2.4% in July