Technical analysis

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $91.40 during the early Asian trading hours on Thursday. WTI tumbles amid hopes for diplomatic progress between the US and Iran. 

The GBP/USD pair posts modest gains near 1.3240 during the early European trading hours on Thursday. However, the potential upside for the major pair might be limited amid a widening policy gap between a hawkish Federal Reserve (Fed) and a more cautious Bank of England (BoE). 

Strong US manufacturing data boosts expectations for an October Fed rate hike to 69.7%.

The Indian Rupee (INR) extends its losses against the US Dollar (USD) on Thursday. The USD/INR pair jumps to near 95.90 as the Indian currency comes under pressure, with oil prices regaining ground, and firm Federal Reserve (Fed) interest rate hike expectations strengthen the US Dollar further.

Asian stock markets reflect a mixed performance on Thursday ahead of the meeting between United States (US) President Donald Trump and Chinese leader Xi Jinping later in the day.

The EUR/USD pair drifts lower for the third straight day, hitting a fresh low since July 28 during the Asian session on Thursday, though it lacks follow-through.

USD/CHF loses ground after registering modest gains the previous day, trading around 0.8240 during Asian hours on Thursday. Traders await the Swiss National Bank (SNB) interest rate decision due later in the day.

Gold prices remained broadly unchanged in India on Thursday, according to data compiled by FXStreet.

The NZD/USD pair flatlines around the 0.5675 region, trading just above its lowest level since early July, set the previous day, as investors await a meeting between US President Donald Trump and his Chinese counterpart Xi Jinping.