Russia Central Bank Reserves $: $719.8B vs previous $725.8B

EUR/USD retreated from two-week highs right above 1.1630 but remains positive on daily charts, trading at 1.1615 at the time of writing.

The US Dollar remains trading within its previous ranges on Thursday, consolidating gains near 20-month highs at the 155.00 area against a weaker Japanese Yen.

Gold (XAU/USD) extends its advance on Thursday, climbing above the $4,200 psychological barrier and notching a five-day winning streak. The precious metal has now retraced most of its corrective decline from the all-time high near $4,381.

NZD/USD trades around 0.5660 on Thursday at the time of writing, virtually unchanged on the day, after failing to extend its three-day winning streak. The pair edges lower, weighed down by the softness of the New Zealand Dollar (NZD) amid rising concerns about the country’s labour market.

Brazil Retail Sales (MoM) below forecasts (0.3%) in September: Actual (-0.3%)

Gold (XAU/USD) extends gains for the fifth consecutive day on Thursday as the US Dollar dives on risk appetite, following the end of the US government’s closure.

The Pound Sterling (GBP) continues to underperform its major currency peers as weaker-than-projected United Kingdom (UK) preliminary Gross Domestic Product (GDP) data has prompted further economic concerns.

The AUD/USD pair climbs to near 0.6580 during the European trading session on Thursday, the highest level seen in almost two weeks. The Aussie pair strengthens as the Australian Dollar (AUD) outperforms its peers, following the release of the strong Australian employment numbers for October.

US Dollar (USD) could rise further and potentially test 155.20; any further advance is unlikely to reach 155.55. In the longer run, the price action suggests USD is likely to trade with an upside bias; any gains may be capped near 155.55, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The Pound remains moderately bid against the Japanese Yen on Thursday, and holds previous days’ gains at levels near two-week highs at the 203.50 area, unfazed by a raft of weaker-than-expected UK economic figures released earlier on the day.

Ireland HICP (MoM) above forecasts (0.2%) in October: Actual (0.4%)

Ireland HICP (YoY) above expectations (2.7%) in October: Actual (2.8%)

Ireland Consumer Price Index (MoM) increased to 0.5% in October from previous -0.2%

Ireland Consumer Price Index (YoY) climbed from previous 2.7% to 2.9% in October

New Zealand Dollar (NZD) is likely to trade in a range between 0.5640 and 0.5670. In the longer run, weakness in NZD has stabilized; for the time being, it is likely to trade in a range between 0.5605 and 0.5695, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD/CHF trades lower on Thursday, hovering around 0.7950, down 0.30% at the time of writing. The pair extends its corrective move, pressured by broad weakness in the US Dollar (USD) as risk appetite improves following the reopening of the US federal government.

AUD/USD has found support near the 200-day moving average at 0.6440/0.6410, pausing its recent decline, Société Générale's FX analysts note.

The Indian Rupee (INR) is under pressure against the US Dollar (USD) on Thursday.

Upward momentum is starting to build, but it is too early to determine if Australian Dollar (AUD) can reach 0.6580. In the longer run, AUD is likely to edge higher within a higher range of 0.6490/0.6580, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD/JPY continues to climb in a low-volatility, risk-on environment, briefly breaching 155.0.

There is scope for Pound Sterling (GBP) to drop below 1.3100; the likelihood of a clear break below 1.3085 is not high. GBP is now more likely to trade in a range of 1.3065/1.3185 rather than edging higher, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Australia’s labor market surprised to the upside in October. The data eases pressure on the Reserve Bank of Australia to deliver near-term rate cuts, lifting the Australian Dollar (USD), which strategists see climbing toward 0.68 by mid-2026, ING's FX analyst Francesco Pesole notes.

The Eurozone industrial sector activity expanded in September after contracting in August, according to the latest data published by Eurostat on Wednesday.

The US Dollar is the worst-performing G7 currency on Thursday.

Eurozone Industrial Production s.a. (MoM) came in at 0.2% below forecasts (0.7%) in September

Eurozone Industrial Production w.d.a. (YoY) came in at 1.2%, below expectations (2.1%) in September

USD/JPY continued to trade higher as expectations of BOJ hike fade. Last at 154.51, OCBC's FX analysts Frances Cheung and Christopher Wong note.

The end of the US government shutdown brings little immediate relief to FX markets, as key October data releases like payrolls and CPI are unlikely to appear soon.

Regular readers of our Daily Currency Briefing will already be familiar with one of my favorited charts, which illustrates market-based inflation expectations. Over the summer, I often wondered when we would see a decline in short-term expectations, i.e. those in one year's time.