Australian dollar (AUD) wobbles in uncertain trade
Trade in the Australian dollar (AUD) was mixed yesterday, with the currency initially firming amid some bullishness surrounding US President Donald Trump’s summit with his Chinese counterpart, Xi Jinping.
However, the ‘Aussie’ failed to sustain this support through the European session amid a weakening of risk appetite and a broad pullback in commodity prices.
Looking ahead, the Australian dollar is likely to remain sensitive to wider market sentiment, potentially leading AUD to weaken if a cautious mood prevails.
New Zealand dollar (NZD) subdued amid mixed market mood
The New Zealand dollar (NZD) struggled to find direction on Thursday, amid an absence of data and an uncertain market mood.
Expect the ‘kiwi’ to remain muted through today’s session if this uncertain mood persists.
Pound (GBP) flat despite impressive GDP figures
The pound (GBP) was left rangebound yesterday amid ongoing UK political uncertainty, amid speculation on whether Prime Minister Keir Starmer might step down following the resignation of Health Secretary Wes Streeting.
This overshadowed the release of surprisingly resilient UK GDP figures, which reported the UK economy grew 0.6% in the first quarter of 2026, despite the pressures posed by the Middle East crisis.
Looking ahead, it seems safe to assume that a continued focus on UK political developments may continue to keep a lid on GBP demand today.
Euro (EUR) muted in quiet trade
The euro (EUR) traded within a narrow range on Thursday as a lack of fresh Eurozone economic data left EUR investors without a clear catalyst for movement.
Wider investor sentiment also offered limited impetus, amid yesterday’s uncertain market mood.
Eurozone economic releases remain in limited supply today, which may leave the euro directionless again today.
US dollar (USD) gains tempered by underwhelming data
The US dollar (USD) firmed yesterday as investor caution boosted demand for the safe-haven currency.
However, these gains remained very modest in light of data showing that US retail sales growth slowed sharply last month, while jobless claims rose more than forecast in the second week of May.
Trump will conclude his visit to China today, which could trigger some weakness in the US dollar if there are any constructive takeaways from the summit with Xi.
Canadian dollar (CAD) flat as oil prices stall
The Canadian dollar (CAD) was muted through Thursday’s session as a stalling of oil prices limited trading impetus for the commodity-linked currency.
Looking ahead, movement in the ‘loonie’ is likely to remain tied to oil price dynamics today.