West Texas Intermediate (WTI) – the benchmark US Crude Oil price – oscillates in a range during the Asian session on Thursday and, for now, seems to have stalled the previous day's modest bounce from sub-$87.00 levels, or over a two-week low.

The AUD/JPY cross gathers strength near 113.30 during the early European session on Thursday. The Australian Dollar (AUD) edges higher against the Japanese Yen (JPY) on improved risk sentiment following reports that the United States (US) and Iran are close to a deal to end the war.

GBP/USD remains stronger for the third consecutive day, trading around 1.3600 during the Asian hours on Thursday. The technical analysis of the daily chart indicates an improving bullish trend as the pair rebounds from the lower boundary of the ascending channel.

Bitcoin (BTC) is holding above $80,000 at press time on Thursday, retracing after three straight days of gains. Total liquidations exceeded $500 million in the last 24 hours, suggesting increased short-term volatility in the market.

Gold (XAU/USD) trades with a positive bias for the third straight day and holds steady above the $4,700 mark during the Asian session on Thursday, just below a one-and-a-half-week high set the previous day.

Ripple (XRP) and Stellar (XLM) trade in the red on Thursday as bearish sentiment builds in the derivatives market. XRP hovers near its key support, while XLM faces rejection from a similar resistance zone, signaling weakening bullish strength.

The EUR/JPY pair trades in a tight range around 183.75 during the Asian trading session on Thursday. The pair struggles for a direction as investors remain on the sidelines amid hopes that Japan’s Ministry of Finance (MoF) could intervene again.

Silver price (XAG/USD) rises for the second successive day, trading around $77.90 per troy ounce during the Asian hours on Thursday.

The NZD/USD pair trades in positive territory around 0.5960 during the Asian trading hours on Thursday. The New Zealand Dollar (NZD) strengthens against the US Dollar (USD) following reports that the United States (US) and Iran are close to a deal to end the war.

USD/CAD remains flat after registering modest gains in the previous trading day, hovering around 1.3630 during the Asian hours on Thursday. The commodity-linked Canadian Dollar (CAD) may struggle amid lower oil prices, given Canada’s status as the largest crude exporter to the United States (US).

The EUR/USD pair attracts some dip-buying during the Asian session on Thursday and stalls the previous day's late pullback from the 1.1800 neighborhood, or over a two-week high.

Australia Trade Balance (MoM) came in at -1841M below forecasts (4250M) in March

Australia Exports (MoM) fell from previous 4.9% to -2.7% in March

Australia Imports (MoM) up to 14.1% in March from previous -3.2%

Australia Trade Balance (MoM) came in at 1841M below forecasts (4250M) in March

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Thursday at 6.8487 compared to the previous day's fix of 6.8562 and 6.8087 Reuters estimate.

Atsushi Mimura, Japan’s Vice Finance Minister for International Affairs and top foreign exchange official, said on Thursday that he will closely monitor the foreign exchange (FX) markets. Mimura also declined to comment on FX intervention and specific currency levels.

AUD/USD inches lower after two days of gains, trading around 0.7230 during the Asian hours on Thursday. However, the Australian Dollar (AUD) may gain ground against the US Dollar (USD) amid hopes that the US and Iran were moving closer to an agreement to end the war.

The USD/JPY pair struggles to capitalize on the previous day's goodish rebound from its lowest level since February 24, around the 155.00 psychological mark, and oscillates in a narrow band during the Asian session on Thursday.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $93.25 during the early Asian trading hours on Thursday. The WTI price declines on optimism over a possible deal to end the war with Iran. 

The Bank of Japan (BoJ) board members shared their views on the monetary policy outlook on Thursday, per the BoJ Minutes of the March meeting.    

US President Donald Trump said that Iran will be bombed “at a much higher level” if it doesn’t agree to a peace deal, CNBC reported on Wednesday.

Japan Monetary Base (YoY) came in at -11.3% below forecasts (-10.5%) in April

Iran said a US proposal to end the war is "still being considered" after reports the two countries could be close to an agreement, the BBC reported on Wednesday.

The Australian Bureau of Statistics will publish its data for March on Thursday at 00.30 GMT. Australia’s Trade Surplus is expected to narrow to 4,250 MoM in March, compared to 5,686 in February.

Reserve Bank of New Zealand (RBNZ) Governor Anna Breman said on Thursday that she anticipates slightly elevated near-term inflation, adding that growth to be slightly slower but still expected this year. 

Gold price (XAU/USD) gains momentum to a one-week high near $4,700 during the early Asian session on Thursday. The precious metal extends the rally as optimism over a US-Iran peace deal eased concerns over inflation.