Here is what you need to know on Thursday, October 24: After suffering large losses against its major rivals on Wednesday, the Japanese Yen stages a rebound early Thursday. S&P Global will release preliminary October Manufacturing and Services Purchasing Managers' Index data for Germany, the Eurozone, the UK and the US later in the session. The US economic calendar will also feature weekly Initial Jobless Claims data andNew Home Sales figures for September.
USD/CAD stretched higher following the BoC event and touched its highest level since early August above 1.3860. The pair stays on the back foot early Thursday and declines toward 1.3800. EUR/USD continued to push lower and closed the third consecutive day in the red on Wednesday. The pair recovers modestly in the European morning but stays below 1.0800. GBP/USD lost 0.5% on Wednesday and came in within a touching distance of 1.2900. The pair edges higher toward 1.
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