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EUR/NOK: Norges Bank risk for Krone – BNY
BNY Strategist Geoff Yu notes that EUR flows have flipped from a pre-conflict ‘hedge the Dollar’ theme to a net underheld position.
EUR/JPY Price Forecast: Rebounds above 185.00 toward upper ascending channel boundary
EUR/JPY rebounds after registering little losses in the previous day, trading around 185.30 during the European hours on Thursday. The daily chart’s technical analysis indicates the currency cross is trending higher within an ascending channel, signaling a bullish bias.
Forex Today: Risk rally loses steam amid shaky US-Iran ceasefire
Here is what you need to know on Thursday, April 9:
GBP/JPY Price Forecast: Pound holds gains with 213.30 high in sight
The Pound (GBP) is trading higher against a weak Japanese Yen (JPY), extending its rally for the fourth consecutive day, with pullbacks finding support in the lower 212.00s and March highs in the 213.30 area still on the bulls’ radar.
NZD/USD holds gains for fourth day; eyes 200-day SMA near 0.5850 ahead of US data
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.
Oil: Ceasefire confusion keeps supply risks elevated – Danske Bank
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.
EUR/USD: Sticky ECB pricing supports Euro – ING
ING’s Francesco Pesole argues that while investors currently favour higher‑beta currencies, European Central Bank (ECB) pricing can still underpin the Euro (EUR).
USD/INR bounces back on continued FIIs sell-off despite Iran ceasefire
The Indian Rupee (INR) trades lower against the US Dollar (USD) in the opening trade on Thursday. The USD/INR pair rebounds to near 92.70 from the three-week low of 92.20 posted on Wednesday, following the announcement of a ceasefire between the United States (US) and Iran.
USD/INR: Range risks and oil sensitivity – MUFG
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.
Austria Trade Balance increased to €-66.7M in January from previous €-1301M
Austria Trade Balance increased to €-66.7M in January from previous €-1301M
Spain Industrial Output Cal Adjusted (YoY) below forecasts (1.5%) in February: Actual (-1.1%)
Spain Industrial Output Cal Adjusted (YoY) below forecasts (1.5%) in February: Actual (-1.1%)
USD/CAD Price Forecast: Holds 20-day EMA in countdown to US-Iran talks
The USD/CAD pair trades marginally higher around 1.3850 during the European trading session on Thursday.
EUR/GBP posts modest gains above 0.8700 despite weak German Industrial Production data
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.
Gold keeps the red above $4,700 amid ceasefire uncertainty, ahead of US PCE data
Gold (XAU/USD) remains on the back foot heading into the European session on Thursday, though it manages to hold above the $4,700 mark and, for now, seems to have stalled the previous day's slide from a three-week high.
AUD/USD: Overdone rally shifts into range phase – UOB
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.
EUR/USD hesitates at 1.1660 with Iran’s ceasefire on tenterhooks
The (EUR) is trading practically flat, right above 1.1660 against the US Dollar at Thursday’s European session opening. The pair pùlled back from Wednesday’s highs, at 1.1721, as Tehran closed the Strait of Hormuz following massive Israeli attacks on Lebanon.
USD: Focus on Inflation and Fed tensions risk – Commerzbank
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.
Earnings estimates rising for Penguin Solutions, Inc. (PENG): Will it gain?
Penguin Solutions, Inc. (PENG - Free Report) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.
Equities: Relief rally faces ceasefire uncertainty – Danske Bank
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.
German Industrial Production declines 0.3% MoM in February vs. 0.9% expected
Germany’s industrial sector activity fell sharply in February, the latest data published by Destatis showed on Thursday.
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