The NZD/USD pair attracts some dip-buyers following the previous day's late pullback from over a two-week high and turns positive for the fourth consecutive day on Thursday.
Austria Trade Balance increased to €-66.7M in January from previous €-1301M
MUFG’s Senior Currency Analyst Michael Wan expects USD/INR to remain range-bound, projecting a base-case trading band between 94.00 and 95.00 over time, with a wider 97.00–98.00 range in a risk scenario of rising Oil prices.
ING’s Francesco Pesole argues that while investors currently favour higher‑beta currencies, European Central Bank (ECB) pricing can still underpin the Euro (EUR).
Danske Research Team notes that Brent crude dropped sharply on the initial US-Iran ceasefire headlines but remains sensitive to Middle East supply risks. The Strait of Hormuz is still blocked, with Iran only indicating a possible reopening later this week.
Spain Industrial Output Cal Adjusted (YoY) below forecasts (1.5%) in February: Actual (-1.1%)
The USD/CAD pair trades marginally higher around 1.3850 during the European trading session on Thursday.
The EUR/GBP cross posts modest gains near 0.8710 during the early European trading hours on Thursday. The Euro (EUR) remains firm despite the downbeat German Industrial Production report.
UOB strategists Quek Ser Leang and Lee Sue Ann report that AUD/USD’s sharp advance has stalled below 0.7100, with price action now seen as part of a consolidation band between 0.7000 and 0.7080.
Danske Research Team highlights a sharp global equities rally after the Iran ceasefire headlines, with benchmarks now just about 2% below record highs. Cyclicals and semiconductors led gains, while energy and minimum volatility lagged.
Commerzbank’s Antje Praefcke argues that the Iran ceasefire is fragile and warns against expecting Oil prices to quickly return to pre-war levels. She notes that US inflation data, including CPI and the PCE index, are likely to reflect higher energy costs over time.
Germany’s industrial sector activity fell sharply in February, the latest data published by Destatis showed on Thursday.
