The Euro (EUR) edges up slightly against the British Pound (GBP) on Thursday, yet moving within previous ranges, following downbeat German consumer confidence figures and hawkish comments by European Central Bank (ECB) member and Bundesbank President Joachim Nagel.
ABN AMRO’s Senior US Economist Rogier Quaedvlieg argues that US growth has slowed sharply outside AI-related activity, with near-zero job creation and downgraded GDP.
The USD/CHF pair ticks higher to near 0.7925 during the European trading session on Thursday. The Swiss Franc pair gains as the US Dollar (USD) holds onto gains amid growing doubts over an early ceasefire between the United States (US) and Iran, following the release of Tehran’s conditions.
Dow Jones futures decline 0.39% below 46,550 during European hours, ahead of the United States (US) regular market open on Thursday. Meanwhile, S&P 500 and Nasdaq 100 futures fall 0.40% and 0.44% to near 6,610 and 24,250, respectively, at the time of writing.
Gold (XAU/USD) trims a part of its intraday losses to the $4,415 area and, for now, seems to have stalled the previous day's rejection slide from the 100-day Simple Moving Average (SMA).
Danske Research Team expects the central bank of Norway, Norges Bank (NB) to keep its policy rate unchanged at 4% at the upcoming meeting, reflecting Middle East-related uncertainty and volatile energy prices.
UOB economist analysts Quek Ser Leang Lee and Sue Ann report that GBP/USD traded softer, closing at 1.3366 after a narrower 1.3359–1.3436 range than expected. They see mild downward pressure intraday, though a move to 1.3320 is unlikely.
Spain Gross Domestic Product (YoY) registered at 2.7% above expectations (2.6%) in 4Q
Spain Gross Domestic Product (QoQ) meets expectations (0.8%) in 4Q
The AUD/USD pair struggles to gain any meaningful traction on Thursday and oscillates in a narrow range, just above the lowest level since early February, touched on Monday. Spot prices trade around mid-0.6900s during the early European session, nearly unchanged for the day.
Silver (XAG/USD) is trading lower for the second consecutive day on Thursday, testing levels below the $70.00 psychological level at the time of writing.
France Consumer Confidence meets expectations (89) in March
