Market News

United States 7-Year Note Auction increased to 4.255% from previous 3.79%

USD/CHF extends gains on Thursday as broad-based US Dollar (USD) strength persists amid rising Middle East tensions, while the Swiss Franc (CHF) struggles to gain traction as traders remain cautious about potential intervention from the Swiss National Bank (SNB) to curb excessive currency appreciati

The USD/JPY trades higher near the 159.70 level on Thursday, March 26, maintaining an overall bullish bias as the US Dollar (USD) remains supported while the Japanese Yen (JPY) stays under pressure.

Silver (XAG/USD) trades lower on Thursday, hovering around $68.50 at the time of writing, down 3.85% on the day, extending its pullback after earlier gains this week.

ING’s Francesco Pesole notes that Norges Bank delivered a hawkish shift, signalling upcoming rate hikes as inflation concerns extend beyond the energy shock. The bank now fully prices at least one hike in its projections, while ING expects only one move given its bearish Oil and gas baseline.

Gold (XAU/USD) edges lower on Thursday, snapping a two-day winning streak as uncertainty surrounding US-Iran negotiations to end the conflict keeps markets on edge, with price action largely driven by hawkish global interest rate expectations stemming from an Oil-driven inflation shock.

The Canadian Dollar (CAD) stays on the back foot against the US Dollar (USD) on Thursday, as rising Middle East tensions and ongoing uncertainty around US-Iran negotiations keep the Greenback firmly supported across the board.

United States 4-Week Bill Auction climbed from previous 3.615% to 3.62%

The GBP/USD pair consolidates around 1.3360 on Thursday amid heightened tensions in the Middle East, as US President Donald Trump exerts pressure on Iran to reach a deal. Solid US jobs data maintained the status quo, which remains controlled by geopolitics.

TD Securities expects UK Retail Sales for February to decline, projecting -0.6% month-on-month versus the market’s -0.7% and January’s 1.8%. They bank attributes the pullback to fading idiosyncratic supports and adverse weather weighing on physical store traffic.

United States Kansas Fed Manufacturing Activity: 11 (March) vs 10

Scotiabank strategists Shaun Osborne and Eric Theoret highlight that USD/CAD continues to grind higher as haven demand for the US Dollar dominates, with the pair trading well above an estimated fair value of 1.3543.