USD/PHP Exchange rate

AUD/USD trades with a negative bias above the 0.6500 mark, and over a one-week low touched on Wednesday, as traders await the Australian jobs report for fresh impetus. In the meantime, bets that the Fed will keep rates higher for longer revive the US Dollar demand following the previous day's good two-way price swings and weigh on the currency pair.

USD/JPY builds on the overnight goodish rebound from sub-147.00 levels and gains some positive traction during the Asian session on Thursday. Bets that the BoJ would hold off raising interest rates and disappointing Trade Balance data from Japan weigh on the Japanese Yen amid a bullish market sentiment. Furthermore, renewed US Dollar buying lends support to the currency pair.

Gold price moves further away from a three-week high touched on Wednesday amid fading safe-haven demand. Moreover, bets that the Fed would delay cutting interest rates amid inflation concerns and the emergence of fresh US Dollar buying weigh on the bullion. However, trade-related uncertainties could offer some support to the XAU/USD ahead of US macro data.

Australia is set to release the June employment report at 1:30 GMT. The Australian Bureau of Statistics is expected to announce that the country added 20,000 new job positions in the month, reversing the 2,500 lost positions announced in May.

China's second-quarter GDP beat forecasts again with a 5.2% year-on-year growth, driven by strong trade and industrial production. Yet sharper-than-expected slowdowns in fixed-asset investment and retail sales and falling property prices are a concern.