Market Sentiment Hinges on Trump's Address Amid Gulf War Tensions

Major currencies held their ground on Thursday, as investors awaited a pivotal televised address by U.S. President Donald Trump. The speech, scheduled for 9 p.m. EDT, is expected to reveal a potential ceasefire in the Gulf war, potentially influencing global market trends.

The U.S. dollar, which has been a safe-haven asset since the conflict's onset in February, saw a decline following rumors of a possible ceasefire. Key currencies like the euro and sterling maintained their stability against the dollar amid early Asian trading.

Kyle Rodda, a senior financial analyst, noted the market's cautious optimism towards a de-escalation, while Carol Kong of Commonwealth Bank of Australia warned of ongoing supply chain disruptions. Attention now shifts to Friday's non-farm payrolls report, with potential implications for Federal Reserve rate policies.