The GBP/USD pair holds steady around 1.3435 during the Asian trading hours on Thursday. However, a sharp slowdown in UK inflation and uncertainty surrounding US–Iran talks could weigh on the British Pound (GBP) against the US Dollar (USD).

Silver (XAG/USD) is seen building on the previous day's bounce from the vicinity of a nearly two-week low, around the $73.00 neighborhood, and gaining positive traction for the second straight day on Thursday.

AUD/USD depreciates after registering over 0.5% gains in the previous day, trading around 0.7120 during the Asian hours on Thursday. The pair depreciates as the Australian Dollar (AUD) declines following the release of softer Australian labor market data.

AUD/JPY inches lower after registering over 0.5% gains in the previous day, trading around 113.60 during the Asian hours on Thursday. The currency cross remains subdued following the release of Australia’s labor market data.

Bank of Japan (BoJ) Policy Board Member Junko Koeda said on Thursday that Japan's core inflation rate has approached 2%. Koeda also highlighted the progress towards achieving the BoJ's inflation goal, which has been a key focus for policymakers in recent years.

The AUD/NZD cross meets with a fresh supply during the Asian session on Thursday and slides closer to the previous day's low, around the 1.2150 region in reaction to the disappointing Australian employment data.

Australia Consumer Inflation Expectations: 5.6% (May) vs previous 5.9%

Australia’s Unemployment Rate climbed to 4.5% in April, according to the official data released by the Australian Bureau of Statistics (ABS) on Thursday. The figure came in above the market consensus of 4.3%.

Australia Part-Time Employment increased to -7.9K in April from previous -34.6K

Australia Unemployment Rate s.a. above expectations (4.3%) in April: Actual (4.5%)

Australia Full-Time Employment declined to -10.7K in April from previous 52.5K

Australia Participation Rate came in at 66.7% below forecasts (66.8%) in April

Australia Employment Change s.a. came in at -18.6K, below expectations (17.5K) in April

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Thursday at 6.8349 compared to the previous day's fix of 6.8397 and 6.7955 Reuters estimate.

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – steadies following the previous day's downfall of nearly 5% amid mixed signals over a potential US-Iran peace deal.

USD/CAD inches higher for the third consecutive day, trading around 1.3750 during the Asian hours on Thursday.

The EUR/USD pair trades flat near 1.1625 during the early Asian session on Thursday. The potential upside for the major pair might be limited, as uncertainty surrounding US–Iran talks could boost the safe-haven assets.

Japan Adjusted Merchandise Trade Balance increased to ¥236.4B in April from previous ¥90.7B

USD/JPY remains subdued for the second successive day, trading around 158.90 during the Asian hours on Thursday. The pair depreciates as the Japanese Yen (JPY) holds gains following the release of Japan’s Merchandise Trade Balance Total data.

Japan Jibun Bank Services PMI declined to 50 in May from previous 51

Japan Jibun Bank Manufacturing PMI in line with expectations (54.5) in May

The AUD/USD pair loses ground to near 0.7150 during the early Asian session on Thursday. The downbeat Australian economic data and safe-haven flows weigh on the Australian Dollar (AUD) against the US Dollar (USD).

Japan Machinery Orders (YoY) came in at 5.9%, above expectations (4.5%) in March

Japan Machinery Orders (MoM) came in at -9.4%, below expectations (-8.1%) in March

Japan Foreign Investment in Japan Stocks fell from previous ¥1437.5B to ¥949.6B in May 15

Japan Merchandise Trade Balance Total above expectations (¥-29.7B) in April: Actual (¥301.9B)

Japan Imports (YoY) above forecasts (8.3%) in April: Actual (9.7%)