The USD/CHF trades near the top trendline of a ‘bearish-flag,’ holds steady at around 0.8034, following the release of good inflation data on the producer side.

USD/JPY is trading sideways on Thursday, hovering in the mid-159.00s and holding within its recent range. It is more of the same for the pair, which continues to move in consolidation as opposing forces cancel each other out.

Silver trades modestly lower on Thursday, holding within Monday’s trading range as buyers take a breather following the strong rally seen at the start of the month.

AUD/USD is trading little changed on Thursday, shrinking near the 0.7050s below the multi-week high reached on Wednesday near 0.7091. The pair holds its ground after US data pointed to cooling price pressure, keeping the US Dollar (USD) stagnant.

NZD/USD trades around 0.5850 on Thursday at the time of writing, down 0.15% on the day.

The Japanese Yen (JPY) struggles to gain traction against the US Dollar (USD) on Thursday, even as the Greenback weakens modestly following softer-than-expected US Producer Price Index (PPI) data. The Yen strengthened immediately after the release, briefly pushing USD/JPY toward 159.

The Pound Sterling registers modest gains versus the Greenback as US inflation data in the producer side came below or aligned with estimates, revealing that the disinflation process continued. The GBP/USD trades at 1.3503, up 0.06%.

USD/CAD trades around 1.3940 on Thursday at the time of writing, virtually unchanged on the day. The pair remains caught between two opposing forces: The US Dollar (USD) weakens following softer-than-expected US data, while the Canadian Dollar (CAD) struggles amid falling Oil prices.

EUR/GBP is trading sideways on Thursday near the 0.8540 level, with the Euro (EUR) steadying after three consecutive days of losses despite the Pound Sterling (GBP) gaining support from UK economic growth data that was broadly in line with expectations.

EUR/USD holds modest gains on Thursday as softer-than-expected US Producer Price Index (PPI) data fails to trigger a strong reaction in the pair. At the time of writing, EUR/USD trades around 1.1537 after recovering from an intraday low of 1.1511, its lowest level in more than a week.

Rabobank's Senior FX Strategist Jane Foley discusses EUR/USD dynamics in light of shifting Fed rate hike expectations and Oil-related safe haven flows into the Dollar.

Brown Brothers Harriman’s (BBH) Elias Haddad highlights USD/JPY trading just below 160.00 as Japan’s government signals support for faster Bank of Japan (BoJ) rate hikes, reinforcing narrowing US–Japan differentials and a lower USD/JPY case.

Commerzbank FX analyst Tatha Ghose highlights persistent inflation pressures and renewed current account deterioration as key drivers for continued weakness in the Turkish Lira against the Dollar.

EUR/JPY trades around 183.80 on Thursday at the time of writing, little changed on the day.

Brown Brothers Harriman’s (BBH) Elias Haddad notes NZD/USD briefly dipped below its 200-day moving average as the Reserve Bank of New Zealand (RBNZ) Q3 inflation expectations survey showed mixed but well-anchored readings near the 2% midpoint.

EUR/GBP edges higher on Thursday as the Euro (EUR) draws support from hawkish European Central Bank (ECB) expectations, overshadowing stronger-than-expected UK Gross Domestic Product (GDP) data that would otherwise have supported the British Pound (GBP).

Brown Brothers Harriman’s (BBH) Elias Haddad notes GBP/USD trading directionless near 1.3500 as United Kingdom (UK) Q2 and June Gross Domestic Product (GDP) data show encouraging activity. Growth was driven by investment and consumption, with government spending a drag.

The British Pound (GBP) claws back its early losses against the US Dollar (USD) and flattens at around 1.3495 during the European trading session on Thursday.

The US Dollar (USD) remains practically flat against the Japanese Yen (JPY) on Thursday, as fading hopes of a Federal Reserve (Fed) interest rate hike in September have undermined speculative demand for the Greenback.

AUD/USD trades around 0.7055 on Thursday at the time of writing, little changed on the day.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note USD/JPY closed little changed at 159.41 after briefly dipping to 158.58 and rebounding to 159.54. Intraday, the pair is expected to trade between 158.70 and 159.70.

Societe Generale strategists note USD/BRL has formed a higher low and is testing its 200-day moving average near 5.22, with upside projections toward 5.34–5.38.

ING’s Francesco Pesole keeps a constructive stance on EUR/USD after recent US data, based on a view that the Federal Reserve is unlikely to deliver further tightening.

USD/CHF depreciates after three days of gains, trading around 0.8130 during the European hours on Thursday. The pair holds losses as the Swiss Franc (CHF) remains stronger following Swiss Producer and Import Prices data for July.

MUFG’s Lee Hardman notes the Japanese Yen has strengthened modestly as markets anticipate a faster pace of Bank of Japan policy tightening.

The Eurozone industrial sector activity remains flat in June, while it was expected to decline 0.1%, according to data published by Eurostat. In May, the Industrial Production contracted by 0.3%, revised lower from -0.2%.

The EUR/USD pair drops to a one-and-a-half-week low during the first half of the European session, though it manages to recover a few pips from the vicinity of the 1.1500 psychological mark.

The New Zealand Dollar (NZD) underperforms its major currency peers, trading 0.45% down at around 0.5830 against the US Dollar (USD) during the European trading session on Thursday.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann report AUD/USD briefly broke above 0.7075 to 0.7091 before retreating to close almost unchanged at 0.7063.

USD/JPY inches lower after registering minor losses in the previous day, trading around 159.40 during the European hours on Thursday. The currency pair hovers near the crucial 160.00 level, keeping traders on high alert for possible intervention from Japanese authorities.