Commerzbank’s Dr. Ralph Solveen highlights continued weakness in German industry, with industrial production down 0.3% month-on-month in February and manufacturing output also slightly lower.
Iran's President Masoud Pezeshkian said on Thursday that Israeli strikes on Lebanon would deem negotiations meaningless because they violate the ceasefire agreement, per Reuters.
BNY’s Head of Markets Macro Strategy Bob Savage reports that Reserve Bank of New Zealand (RBNZ) Governor Anna Breman signaled readiness to hike rates if core inflation accelerates, citing upside risks from higher fuel prices tied to Middle East tensions.
Mexico Headline Inflation below forecasts (0.88%) in March: Actual (0.86%)
Mexico 12-Month Inflation below expectations (4.61%) in March: Actual (4.59%)
Mexico Core Inflation came in at 0.38% below forecasts (0.4%) in March
Deutsche Bank’s Sanjay Raja expects UK GDP to rebound by 0.2% m-o-m in February after a flat January, with balanced risks around the nowcast. The bank’s models also point to a possible upward revision to January.
ING’s Ewa Manthey and Warren Patterson say Gold remains highly sensitive to geopolitical developments around the US–Iran ceasefire and conflict in the Middle East.
The NZD/USD pair trades 0.2% higher to near 0.5835 during the European trading session on Thursday.
MUFG’s Head of Research Derek Halpenny highlights that Japanese investors, especially banks and life insurers, were heavy sellers of foreign bonds in February and March, likely including USTs and EGBs, with record two‑month net sales.
The US Dollar (USD) nudges higher against the Swiss Franc (CHF) on Thursday and consolidates above 0.7900 after bouncing from a low of 0.7870.
Commerzbank’s Tatha Ghose expects Poland’s NBP to keep rates on hold after the Iran-related energy shock derailed its easing cycle. With Oil prices unlikely to normalise quickly, emergency fiscal measures and distorted price signals keep policy in a reactive, geopolitical framework.
