OPEC+ is likely to weigh a further oil output quota hike at the meeting on April 5, Sunday, to prepare for any easing of Strait of Hormuz export constraints, according to a report from Reuters.
Forex
The Euro declines more than 0.5% against the safe-haven US Dollar on Thursday, extending its reversal from Wednesday’s highs at 1.1625 to session lows just below 1.1520 so far.
Forex
The US Dollar (USD) is outperforming its peers on Thursday, and rallies about 0.6% against the Japanese Yen on Thursday.
Commodities
Global markets face a sharp risk-off pivot as US-Iran geopolitical risks dominate. Oil surges past $100, fueling inflation fears, while stocks, gold, and major currencies retreat. Attention now turns to Fed speakers and the critical NFP report
West Texas Intermediate (WTI) oil price rises over 7% after two days of losses, trading around $101.10 per barrel during the European hours on Thursday.
Forex
The EUR/USD pair is down 0.5% to near 1.1530 in the European session on Thursday, resuming its decline after a two-day recovery move. The major currency pair faces intense selling pressure as the US Dollar (USD) strengthens due to fears that the Middle East war is far from over.
Forex
The US Dollar (USD) is retracing Wednesday’s losses against the Canadian Dollar on Thursday, as investors resume the cautious trade witnessed in March, amid dwindling hopes of a de-escalation in Iran.
Forex
The USD/CHF pair jumps to around 0.7985 during the early European session on Thursday. The Greenback strengthens against the Swiss Franc (CHF) following an address to the nation by US President Donald Trump.
Commodities
Global markets have shifted back into risk-off mode after Trump’s hawkish stance on Iran dampened de-escalation hopes. Equities and AUD/USD weakened as bearish momentum resumed, while the US dollar strengthened. WTI crude oil surged above $102.25, supported by supply concerns, but gold’s recent rally shows signs of exhaustion. Technical signals suggest further downside risks for risk assets unless key resistance levels are reclaimed.
Forex
The EUR/USD pair struggles to capitalize on its gains registered over the past two days, reaching the weekly top the previous day, and attracts heavy selling during the Asian session on Thursday.
