The USD/CHF struggles at 0.8350, dives below the 0.8300 figure as a ‘double top’ chart pattern looms in the daily chart, even though the overall trend is up. The pair trades at 0.8269, down almost 1%.

USD/CAD loses nearly 0.30% on Thursday as falling US Treasury yields weigh on the US Dollar (USD). Concerns over debt-funded AI investments drive investors away from equities and into government bonds.

NZD/USD trades around 0.5600 on Thursday at the time of writing, gaining 0.18% on the day. The New Zealand Dollar (NZD) benefits from a weaker US Dollar (USD), as falling US Treasury yields and hawkish comments from the Reserve Bank of New Zealand (RBNZ) support the currency.

The Pound Sterling registers solid gains against the US Dollar, even though the latest US inflation data, instead of fueling speculation for a Fed hike in October, is nearly cementing the case for December. The GBP/USD trades at 1.3267, up 0.56%, after reaching a low of 1.3184.

USD/CHF slips to two-week lows on Thursday as a sharp pullback in US Treasury yields weighs on the US Dollar (USD), overshadowing hotter-than-expected US producer inflation data.

USD/JPY extends its decline on Thursday, trading around 157.85 at the time of writing, down 0.30% on the day. The pair falls to its lowest level in a week, pressured by a stronger Japanese Yen (JPY) and declining US Treasury yields.

EUR/USD trades on the front foot on Thursday as falling US Treasury yields weigh on the US Dollar (USD). However, the Euro’s (EUR) upside appears limited as stronger-than-expected US economic data reinforce hawkish Federal Reserve (Fed) expectations.

GBP/JPY edges higher on Thursday as the British Pound (GBP) outperforms most of its major peers following stronger-than-expected UK economic data, while traders also assess central bank signals. At the time of writing, the cross trades around 209.36, up 0.23% on the day.

The Australian Dollar (AUD) underperforms its major currency peers on Thursday as weak employment data for September has clouded expectations of an interest rate hike by the Reserve Bank of Australia (RBA) this year.

The British Pound (GBP) retraces Wednesday’s losses against the US Dollar (USD) on Thursday, as upbeat UK macroeconomic data has offset the negative impact of Bank of England’s (BoE) Chief Economist Huw Pill's comments.

The British Pound (GBP) retraces Wednesday’s losses against the US Dollar (USD) on Thursday, as upbeat UK macroeconomic data has offset the negative impact of Bank of England’s (BoE) Chief Economist Huw Pill's comments.

The Canadian Dollar (CAD) has shown a sharp recovery against the US Dollar (USD) over the last few sessions, with the USD losing momentum, weighed by lower US Treasury yields and dovish comments by Federal Reserve (Fed) officials.

The Euro (EUR) holds onto its recovery move to near 1.1220 against the US Dollar (USD) in the European trade on Thursday. The major currency pair rebounded at the expense of the US Dollar.

The Eurozone industrial sector activity declines at a faster pace of 0.5% in August, according to data published by Eurostat. The industrial output was expected to remain flat after contracting 0.3% in July, revised lower from -0.1%.

The US Dollar (USD) trades lower against the Japanese Yen (JPY) on Thursday as US Treasury yields extend their reversal from multi-decade highs after the Federal Reserve (Fed) cooled hopes of back-to-back interest rate hikes.

Commerzbank’s Tatha Ghose reports that Central Bank of the Republic of Türkiye (CBRT) Governor Karahan claims a faster Lira depreciation is being allowed to avoid a sharper future devaluation.

The AUD/USD pair attracts heavy selling on Thursday following the disappointing release of Australian jobs data, retreating further from levels beyond the 0.7000 psychological mark, or a two-week high, touched the previous day.

Lee Hardman at MUFG highlights that the Japanese Yen has benefited from risk-off trading and hawkish Bank of Japan commentary, pushing USD/JPY back below 158.00.

Here is what you need to know on Thursday, October 15:

The Swiss Franc (CHF) is giving back gains against the US Dollar (USD) on Thursday.

OCBC Bank’s Christopher Wong argues that recent RBI measures and the governor’s willingness to act further have curbed speculative activity and supported the Indian Rupee. However, stronger US Dollar, elevated Oil prices and external headwinds are seen limiting gains, with technicals pointing to moderating downside in USDINR and key support at 94.70 and 94.20 and resistance around 95.60 and 96.

The NZD/USD pair trades in positive territory around 0.5605 during the early European trading hours on Thursday, bolstered by a weaker US Dollar (USD) and a sharp drop in US Treasury bond yields.

The British Pound (GBP) is up 0.2% at around 209.10 against the Japanese Yen (JPY) during the European trading session on Thursday. The cross gains as better-than-expected United Kingdom (UK) monthly Gross Domestic Product (GDP) data for August has lend strength to the domestic currency.

The British Pound (GBP) holds gains against the US Dollar (USD) on Wednesday’s early London session, although the market reaction to the better-than-expected UK Gross Domestic Product (GDP) and Industrial Production figures has been modest.

The EUR/GBP cross pares gains near 0.8465 during the early European trading hours on Thursday. The British Pound edges slightly higher following the UK economic data. The Eurozone Industrial Production data and the German Buba Monthly Report are due later in the day.

Commerzbank’s Antje Praefcke highlights that political uncertainty in France and renewed US rate hike expectations are weighing on the Euro against the Dollar. She notes that stronger US inflation has revived October Fed hike pricing, even as Commerzbank still expects no move until December.

The Euro (EUR) is up 0.5% at around 1.1220 against the US Dollar (USD) during the early European trading session on Thursday after extending is Wednesday’s recovery move.

The Indian Rupee (INR) opens on a strong note against the US Dollar (USD) on Thursday.

USD/CAD depreciates after posting modest gains the previous day, trading around 1.4210 during Asian hours on Thursday. The technical analysis of the daily chart indicates that the price is remaining within the ascending channel pattern, suggesting an ongoing bullish bias.

The EUR/JPY cross trades in positive territory near 177.10 during the early European trading hours on Thursday. However, the potential upside for the cross might be limited as traders remain on high alert for currency intervention from Japanese authorities.