Trading news

The US Dollar (USD) is outperforming its peers on Thursday, and rallies about 0.6% against the Japanese Yen on Thursday.

ING’s Ewa Manthey and Warren Patterson report Aluminium prices above $3,500/t after unconfirmed reports of major Gulf smelter disruptions at EGA and Alba.

Silver prices (XAG/USD) fell on Thursday, according to FXStreet data. Silver trades at $71.46 per troy ounce, down 4.84% from the $75.09 it cost on Wednesday.

Societe Generale analysts note a quiet data calendar ahead of key US payrolls, with a market whisper of 40k versus a 60k consensus and an SG economics forecast of 75k.

Dow Jones futures decline 0.88%, below 46,400 during European hours on Thursday, ahead of the United States (US) regular market open. Meanwhile, S&P 500 and Nasdaq 100 futures fall 1.1% and 1.4% below 6,550 and 23,900, respectively, at the time of writing.

Commerzbank’s Michael Pfister highlights that Bank of England (BoE) Governor Andrew Bailey has pushed back against aggressive tightening expectations, stressing labour market weakness and limited pricing power.

Italy Retail Sales n.s.a (YoY) dipped from previous 2.3% to 1.6% in February

Italy Retail Sales s.a. (MoM) came in at 0% below forecasts (0.4%) in February

France 10-y Bond Auction rose from previous 3.39% to 3.73%

Turkey Exports climbed from previous $21.1B to $21.9B in March

European Central Bank (ECB) executive board member Fabio Panetta said during European trading hours on Thursday that global energy crisis could impact financial stability.

ING analysts Francesco Pesole, Frantisek Taborsky and Chris Turner note that the US Dollar has regained support as risk-off sentiment returns following renewed Middle East escalation and uncertainty around the Strait of Hormuz.

The US Dollar (USD) is regaining lost ground on Thursday, and the DXY returns to levels above the 100.00 line at the time of writing, buoyed by the risk-averse sentiment. US President Donald Trump crushed hopes of a swift end to the Iran war and sent the Greenback higher across the board.

The EUR/JPY pair trades in a tight range around 184.00 during the European trading session on Thursday. The pair consolidates as investors seek fresh cues regarding how monetary policies by the European Central Bank (ECB) and the Bank of Japan (BoJ) will flare going ahead.

West Texas Intermediate (WTI) oil price rises over 7% after two days of losses, trading around $101.10 per barrel during the European hours on Thursday.

Rabobank’s Senior Market Strategist Benjamin Picton notes that Brent briefly fell below $100 before Donald Trump’s national address reversed risk sentiment, sending Oil higher and bond yields up.

Brazil Fipe's IPC Inflation climbed from previous 0.25% to 0.59% in March

European Central Bank (ECB) Governing Council (GC) member and Governor of the Lithuanian central bank, Gediminas Simkus, said during European trading hours on Thursday that the central bank needs to exercise caution on interest rates as the situation is changing.

MUFG’s Senior Currency Analyst Michael Wan analyzes new RBI measures restricting Indian Rupee non-deliverable derivatives and recent limits on onshore USD/INR positions. He argues these steps deepen the divide between onshore and offshore markets and aim to curb INR weakness.

EUR/GBP’s reversal from one-month highs at 0.8740 found buyers right above 0.08700 on Wednesday, and the pair has trimmed losses on Thursday, returning to the 0.8720 area at the time of writing.The Euro (EUR) seems to be faring better than the British Pound (GBP) amid the risk-averse market mood, an