EUR/CHF failed to break above 0.9445 and slipped back below its 200-DMA, with the pullback now eyeing 0.9280/0.9260. A deeper decline towards last year’s trough at 0.9210 cannot be ruled out, Société Générale's FX analysts note.
China will aim to cut steel production and curb new capacity between 2025 and 2026, according to Reuters. A planning document issued jointly by multiple Chinese ministries outlined proposals to reduce steel output, given excess supply and insufficient demand.
The Japanese Yen (JPY) strengthens against the US Dollar (USD) on Thursday, with USD/JPY slipping below the 147.00 mark as the Greenback remains under pressure.