Trading news

Switzerland Producer and Import Prices (MoM) meets forecasts (0.2%) in March

Switzerland Producer and Import Prices (YoY) remains at -2.7% in March

The (EUR) edges up against the US Dollar (USD) on Thursday, trading right above 1.1800 at the time of writing, on track for a nine-day rally.

The Pound Sterling (GBP) attracts bids against its major currency peers, trading 0.14% higher to near 1.3580 against the US Dollar (USD) during the European trading session on Thursday after the release of the stronger-than-projected United Kingdom (UK) Gross Domestic Product (GDP) data for February

Commerzbank’s FX team, including Charlie Lay, Dr. Henry Hao and Moses Lim, notes that USD/INR was flat near 93.38 after intraday volatility, with the Indian Rupee (INR) still pressured by elevated commodity prices and structural deficits.

United Kingdom Total Trade Balance down to £-0.72B in February from previous £3.922B

United Kingdom Index of Services (3M/3M) came in at 0.5%, above forecasts (0.3%) in February

United Kingdom Goods Trade Balance came in at £-18.791B, above expectations (£-20.2B) in February

United Kingdom Trade Balance; non-EU fell from previous £-3.461B to £-7.097B in February

United Kingdom Gross Domestic Product (MoM) above forecasts (0.1%) in February: Actual (0.5%)

United Kingdom Manufacturing Production (MoM) below forecasts (0.3%) in February: Actual (-0.1%)

United Kingdom Manufacturing Production (YoY) came in at -0.5%, below expectations (-0.3%) in February

United Kingdom Goods Trade Balance above forecasts (£-20.2B) in February: Actual (£-18.79B)

United Kingdom Trade Balance; non-EU dipped from previous £-3.461B to £-7.1B in February

United Kingdom Industrial Production (YoY) came in at -0.4%, above forecasts (-0.9%) in February

United Kingdom Industrial Production (MoM) above forecasts (0.2%) in February: Actual (0.5%)

Silver price (XAG/USD) trades 2.2% higher to near $80.80 during the late Asian trading session on Thursday, aiming to recapture the four-week high of $81.00.

The Indian Rupee (INR) opens slightly higher against the US Dollar (USD) on Thursday. The USD/INR pair edges down to near 93.28 as the US Dollar (USD) faces intense selling pressure due to improving hopes of a permanent ceasefire between the United States (US) and Iran.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $88.20 during the early European trading hours on Thursday. The WTI price declines amid optimism over the ceasefire between the US and Iran.  

The USD/JPY cross attracts fresh sellers following the previous day's modest rise and drops to over a one-week low, around the 158.25 region during the Asian session on Thursday.