Trading news

Commerzbank's FX Research report by Charlie Lay and Moses Lim highlights that the Monetary Authority of Singapore (MAS) has maintained its current policy stance, leaving the SGD NEER unchanged.

Financial markets were choppy on Thursday, with significant volatility during US trading hours. In the absence of other news, the focus was on United States (US) President Donald Trump, who said on Truth Social that the Federal Reserve (Fed) should substantially lower interest rates: “now!

AUD/USD hit a slippery slow patch on Thursday as volatility worsens across the board. The Australian Dollar (AUD) hit a three-year high against the US Dollar (USD), before falling back into the low side for the day as broad-market sentiment flows sour.

Australia's CPI has exceeded expectations, with persistent inflation in services and housing, alongside resilient labor data.

The Euro (EUR) trades little changed against the US Dollar (USD) on Thursday, with EUR/USD struggling to find direction as a firm Greenback caps upside attempts. At the time of writing, the pair trades around 1.1952 after touching its highest level in over four years earlier this week.

USD/CHF trades around 0.7660 on Thursday at the time of writing, down 0.40% on the day, under pressure from a broadly weaker US Dollar (USD) and increased demand for safe-haven currencies.

United States 7-Year Note Auction climbed from previous 3.93% to 4.018%

The USD/JPY drops during the North American session, down 0.33% after the financial markets witnessed a sell-off of US equities, precious metals and a mild appreciation of the US Dollar.  At the time of writing, the pair trades volatile at around 152.70-153.00.

The Indonesian Rupiah (IDR) is under pressure following a significant drop in the Jakarta Composite Index, which fell over 7%. MUFG's report notes that concerns about market accessibility and potential downgrades could lead to reduced foreign investment.

US equities faced renewed pressure on Thursday as megacap technology earnings and the Federal Reserve’s (Fed) tepid showing this week weighed on sentiment.

The Monetary Authority of Singapore (MAS) maintained its monetary policy settings in January, contrary to expectations of a tightening move. The statement's hawkish tone suggests potential policy accommodation withdrawal in April.

The Philippine economy grew 3.0% year-on-year in 4Q25, falling short of expectations and marking the weakest pace since 1Q21, according to UOB's Global Economics & Markets Research. For the full year, real GDP grew 4.4% in 2025, below the forecast of 4.6%.

Gold (XAU/USD) plummets more than 3% on Thursday amid the lack of a catalyst that has pushed Silver’s down, cooper prices retreating, and six of the Mag 7 equities getting hammered during the North American session. XAU/USD trades at $5266 after reaching a record high near $5,600.

United States 4-Week Bill Auction unchanged at 3.63%

GBP/USD tumbles during the North American session after the US Federal Reserve held rates unchanged and revealed a stabilization of the jobs market. At the time of writing, the pair trades at 1.37791, down 0.18%

Deutsche Bank Research highlights the strategic significance of the recently concluded India-EU Free Trade Agreement (FTA), which opens up the European market for Indian businesses.

West Texas Intermediate (WTI) Crude Oil extends its advance on Thursday, climbing to its highest level in four months as geopolitical risk premiums linked to rising US-Iran tensions underpin prices.

Silver (XAG/USD) is retreating sharply and trades around $109.40 on Thursday at the time of writing, posting a 6.50% decline on the day, after reaching a fresh all-time high at $121.66.

Societe Generale's report highlights the ongoing downtrend in USD/ZAR, noting a break below recent consolidation levels. The report suggests that the pair could drift towards projections near 15.25 and the lower limit of a multi-month descending channel at 15.00/14.70.

United States EIA Natural Gas Storage Change came in at -242B, below expectations (-232B) in January 23