BNY’s Geoff Yu reports that S&P has affirmed Australia’s AAA rating with a stable outlook, citing strong institutions and modest public debt. The agency expects deficits to remain contained and net debt to stabilize over the forecast horizon.

The Euro (EUR) trades marginally lower at around 1.1545 against the US Dollar (USD) during the European trading session on Friday. The major currency pair edges down as the US Dollar ticks up, while investors shift their focus to the United States (US) Nonfarm Payrolls (NFP) data release on Friday.

The British Pound (GBP) holds marginal losses against the US Dollar (USD) on Thursday, trading at 1.3460 at the time of writing, down from Wednesday's highs at 1.3486.

Rabobank's Senior Macro Strategist Bas van Geffen discusses renewed Japanese Yen (JPY) weakness following recent joint US-Japan FX intervention that briefly pushed USD/JPY below 156.

The Japanese Yen (JPY) is ticking lower against the US Dollar (USD) on Thursday, trimming gains after an exceptional US-Japan coordinated intervention triggered a 4.5% appreciation late last week.

Commerzbank’s Charlie Lay reports that the Reserve Bank of India kept the repo rate at 5.25% for a fourth meeting, maintaining a neutral stance. RBI sees recent inflation overshoot as supply-driven and trimmed its FY2026-2027 inflation forecast while lifting growth to 6.7%.

Societe Generale’s Dev Ashish notes that the central bank of the Brazil, Banco Central do Brasil (BCB) cut the Selic rate by 25bp to 14.0% as expected, extending a 100bp easing cycle since March.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann highlight USD/JPY traded quietly between 157.27 and 157.87, closing at 157.74, with intraday momentum indicators flat. The pair is expected to stay in a 157.30–158.20 band near term.

Eurozone Retail Sales contracted at a 0.3% pace Month-on-Month (MoM) in June, while they were anticipated to have risen moderately by 0.1% from 0.2% in May.

The AUD/JPY cross attracts some sellers on Thursday, snapping a two-day winning streak and stalling this week's solid bounce move from its lowest level since late March.

The Euro (EUR) clings to two-day gains against the Japanese Yen (JPY) at around 182.25 during the European trading session on Thursday.

USD/CAD loses ground for the second successive day, trading around 1.4010 during the European hours on Thursday.

The Euro (EUR) nudges lower against the British Pound (GBP) on Thursday, following a three-day rally. The EUR/GBP remains capped below the late-July top of 0.8586, trading at 0.8575 at the time of writing, yet with downside attempts subdued so far. 

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann report GBP/USD edged higher to 1.3469 after briefly touching 1.3486, with short-term momentum only slightly firmer. The pair is expected to trade in a higher 1.3445–1.3495 range rather than embark on a strong rally.

Here is what you need to know on Thursday, August 6:

The USD/CHF pair attracts some buyers near the 0.8060 region on Thursday amid a modest US Dollar (USD) uptick. Spot prices, for now, seem to have snapped a two-day losing streak and trade around the 0.8080-0.8085 region during the first half of the European session, up nearly 0.15% for the day.

The Australian Dollar (AUD) posts moderate losses against the US Dollar (USD) on Thursday, retreating to the 0.7040 area from three-week highs at 0.7064 on Wednesday.

Commerzbank’s Michael Pfister argues that lower Oil prices can initially restrain the Euro (EUR) by reducing European Central Bank (ECB) rate expectations.

NZD/USD extends its losses for the second successive day, trading around 0.5870 during the European hours on Thursday. The pair depreciates as the US Dollar (USD) gains support from renewed safe-haven demand following an Israeli airstrike in southern Lebanon.

The British Pound (GBP) trades marginally lower at around 1.3460 against the US Dollar (USD) during the European trading session on Thursday.

MUFG’s Michael Wan expects USD/INR to grind lower over the next 3–6 months towards 94.00, before rebounding to 96.00 in the next calendar year.

Silver (XAG/USD) consolidates gains in the $61.70 area after being rejected ahead of $63.00. The pair is trimming gains on Thursday, after following a nearly 7% rally over the last two days, but downside attempts remain limited so far, as lower Oil prices and a weak US Dollar keep providing support.

The USD/JPY pair holds onto a three-day recovery move near 157.80 during the European trading session on Thursday.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann highlight that EUR/USD extended modest gains to close at 1.1551, with mild upward momentum still intact. Intraday, the pair may test 1.1565, though a move to 1.1600 is seen as unlikely without stronger momentum.

The Euro (EUR) remains practically flat against the US Dollar (USD) at the European session opening times on Thursday, with the EUR/USD pair holding gains at the 1.1550 area after rallying about 1.6% from last week's lows.

The AUD/USD pair edges lower during the Asian session on Thursday and moves away from the highest level since June 17, touched the previous day. Spot prices currently trade just below  0.7050, though the downside potential seems limited.

The GBP/USD pair drifts lower to near 1.3460 during the early European trading hours on Thursday. Conflicting rhetoric from the US and Iranian officials about a potential deal fuels market concerns, dragging the British Pound (GBP) lower against the US Dollar (USD).

EUR/JPY depreciates after two days of gains, trading around 182.10 during the Asian hours on Thursday. The currency cross is maintaining a bearish near-term bias as it holds beneath both the nine-day and 50-day Exponential Moving Averages (EMAs).

The GBP/JPY cross struggles to capitalize on this week's solid rebound from the vicinity of mid-109.00s, or a four-month low, and edges lower during the Asian session on Thursday.

The AUD/JPY cross trades in negative territory around 111.15 during the early European trading hours on Thursday. A coordinated currency intervention by the United States (US) and Japan provides some support to the Japanese Yen (JPY) against the Australian Dollar (AUD).