Market News

Here is what you need to know on Friday, March 27:

AUD/JPY edges higher after four days of losses, trading around 110.20 during the European hours on Friday. The technical analysis of the daily chart suggests a bearish bias as the currency cross moves downwards within the descending channel pattern.

Danske Research Team highlights that the central bank of Norway, Norges Bank delivered a hawkish hold at 4.00%, with internal debate over an immediate hike and an upwardly revised rate path. The bank now expects two 25bp hikes in June and September, followed by cuts from 2027.

Standard Chartered economists Dan Pan and Steve Englander argue that the recent Oil price surge is unlikely to trigger a 1970s-style stagflation in the United States.

Crude Oil prices have pared previous losses, returning to levels above $93.50 per barrel at Friday’s European session opening.

The GBP/JPY cross reverses an intraday dip to the 212.60-212.55 region on Friday and climbs to a fresh daily high during the early European session.

GBP/USD halts its three-day losing streak, trading around 1.3330 during the early European hours on Friday. The pair holds ground following the release of the United Kingdom’s (UK) Retail Sales figures.

Rabobank’s Senior FX Strategist Jane Foley notes that Bank of Japan policy expectations have changed little versus other G10 central banks, with markets already pricing a gradual tightening path.

The United Kingdom (UK) Retail Sales data, a key consumer spending measure, declines by 0.4% month-over-month (MoM) in February, lower than 0.8% estimates, after rising 2% in January, revised higher from 1.8%, according to the latest data published by the Office for National Statistics (ONS) on Frid

United Kingdom Retail Sales ex-Fuel (MoM) above expectations (-0.8%) in February: Actual (-0.4%)

United Kingdom Retail Sales (MoM) above expectations (-0.8%) in February: Actual (-0.4%)

United Kingdom Retail Sales (YoY) came in at 2.5%, above forecasts (2.1%) in February