ECB’s April policy meeting could be a close call, but we lean towards a 25bps cut. For now, our base case is a June hold, but we see growing risks of another cut given tariff threats.
Pound Sterling (GBP) is up about 0.6% vs. the USD and a mid-performer among its G10 peers, climbing back into the 1.29-1.30 congestion range that had prevailed ahead of last week’s tariff turbulence, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Euro (EUR) is entering Thursday’s NA session with an impressive 1.1% gain, climbing back toward the upper end of its one-week range and threatening a break to levels last seen in October.
US citizens filing new applications for unemployment insurance ticked a tad higher to 223K for the week ending April 5, as reported by the US Department of Labor (DOL) on Thursday. This print matched initial estimates and was higher than the previous week's unrevised tally of 219K.
EURUSD retraced higher in a volatile session, testing key moving averages. Traders eyeing 1.1106 level for next move, with potential rotation back towards 100/200 hour MA if sellers prevail.
Gold rose back above 3100, from under 3000 overnight as earlier sell-off dissipated. XAU/USD was last at 3123 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
In an interview with CNBC on Thursday, Kevin Hassett, Director of the US National Economic Council (NEC), said that there is a big inventory of deals that are very close to the finish line, per Reuters.
European Commission President Ursula von der Leyen confirmed on Thursday that they have agreed to pause countermeasures against the US tariffs for 90 days.
USD/JPY jumped sharply to 148.27 overnight as safe haven trades unwind after Trump announced a 90-day tariff pause. We had cautioned for the risk of a short squeeze in our report yesterday. Pair was last at 145.78 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
EUR/NOK's recent breakout attempt above 12.05 was short-lived, as strong resistance pushed the pair back into its consolidation range. Key support at 11.68 now becomes critical for the near-term outlook, Societe Generale's FX analysts report.
Australian Dollar (AUD) rebounded 4% from its lows overnight after Trump pauses tariffs on most nations for 90 days. Pair was last at 0.6170 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Despite Trump raising tariffs on China to 125% overnight, USD/CNH fell as broader sentiment improved. Trump unexpectedly paused higher tariffs on 56 nations (excluding China) for 90 days.
. Germany's leveraged trading market has reversed course, growing 3% to reach 63,000 active CFD and forex traders in the 12 months to February 2025, according to a new report from market research f...
New Zealand Dollar (NZD) could test 0.5695 vs US Dollar (USD) before the risk of a pullback increases. In the longer run, weakness in NZD has stabilised; it is likely to consolidate between 0.5540 and 0.5760 for now, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
EUR/GBP briefly traded to 0.8650 yesterday – a move which seems to coincide with the sell-off in UK gilts. That UK gilts even underperformed US Treasuries is quite remarkable and probably very unnerving for the UK's Debt Management Office, ING’s FX analyst Chris Turner notes.
Copper and other base metals rallied in early morning trading today following President Trump’s 90-day tariff pause, ING’s commodity analysts Warren Patterson and Ewa Manthey note.
The European Union is considering pausing its countermeasures, due on April 15, against the United States' tariffs for 90 days, Reuters reported on Thursday, citing EU diplomats.
Markets are watching closely as China weighs a response to the latest US tariff hike. With limited trade impact, the focus shifts to potential currency movements and consumer strain, ING’s FX analyst Chris Turner notes.
Sharp rally in Australian Dollar (AUD) seems to have enough momentum to test 0.6195 before leveling off. In the longer run, for the time being, AUD is expected to trade in a 0.6000/0.6290 range, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
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