Rabobank strategist Molly Schwartz notes that crude Oil’s initial sharp drop on the Iran ceasefire headlines has been only partially reversed, despite renewed tensions and the Strait of Hormuz re-closing.
ING’s Frantisek Taborsky expects the National Bank of Poland (NBP) to keep rates at 3.75% for an extended period, with markets already pricing out most further tightening.
The US Dollar (USD) has trimmed some losses to consolidate right above the 99.00 level on Thursday, after bouncing from lows at 98.50 on Wednesday. The safe-haven US Dollar has picked up as investors come to terms with the fragility of the ceasefire in Iran.
Gold (XAU/USD) extends the sideways consolidative price move through the first half of the European session on Thursday, though it manages to hold above the $4,700 mark and, for now, seems to have stalled the previous day's slide from a three-week high.
Commerzbank analyst Antje Praefcke says weaker-than-expected Swedish inflation does not give the central bank of Sweden, Riksbank a reason to change its stance.
Dow Jones futures fall 0.36% to near 47,950 during European hours on Thursday, ahead of the regular opening in the United States (US). Meanwhile, S&P 500 and Nasdaq 100 futures also lose 0.38% and 0.37% to near 6,800 and 25,000, respectively, at the time of writing.
UOB strategists Quek Ser Leang and Lee Sue Ann note that GBP/USD briefly broke above 1.3480 before retreating to the mid‑1.33s, suggesting a near‑term consolidation band between 1.3350 and 1.3450.
The Australian Dollar (AUD) trades lower against its major currency peers, is down 0.2% to near 0.7030 vs. the US Dollar (USD) during the European trading session on Thursday.
BNY Strategist Geoff Yu notes that EUR flows have flipped from a pre-conflict ‘hedge the Dollar’ theme to a net underheld position.
EUR/JPY rebounds after registering little losses in the previous day, trading around 185.30 during the European hours on Thursday. The daily chart’s technical analysis indicates the currency cross is trending higher within an ascending channel, signaling a bullish bias.
Here is what you need to know on Thursday, April 9:
The Pound (GBP) is trading higher against a weak Japanese Yen (JPY), extending its rally for the fourth consecutive day, with pullbacks finding support in the lower 212.00s and March highs in the 213.30 area still on the bulls’ radar.
