DXY On Track For Third Session of Gains

The USD index trades with minor gains, putting the USD index on track to record the third consecutive session in the green - a rare winning streak that hasn't been seen since the beginning of August. The gains follow the impressive close on Wall Street yesterday, in which a late S&P rally saw the index close higher by 1.5% - gains which, for once, weren't driven by the likes of Apple and Tesla.

AUD and NZD both trade slightly weaker, but well within recent ranges. The pullback in oil prices has persisted into the Thursday session after the weekly DoE figures yesterday showed implied crude oil demand at its lowest since the depths of the Coronavirus crisis.

Final PMI data from across the Eurozone was mixed-to-poor, with German services sector being revised higher, but Italy, Spain and France seeing downward revisions for August. EUR proves largely resilient, however, bouncing off overnight lows in EUR/USD at $1.1789.

Weekly jobless claims and the ISM Services Index are the data highlights going forward, with speeches also scheduled from BoE's Bailey & Ramsden, Fed's Evans and ECB's Schnabel.