Market Roundup
• US Continuing Jobless Claims: 1,850K,1,880K forecast, 1,903K previous
• US Core CPI (MoM) (Mar): 0.1% ,0.3% forecast ,0.2% previous
• US Core CPI (YoY) (Mar): 3.0% forecast ,3.1% previous
• US Core CPI Index (Mar): 325.66, 325.48 previous
• US CPI (MoM) (Mar): -0.1% ,0.1% forecast, 0.2% previous
• US CPI (YoY) (Mar): 2.4% ,2.5% forecast, 2.8% previous
• US CPI Index, n.s.a. (Mar): 319.80, 320.17 forecast, 319.08 previous
• US CPI Index, s.a. (Mar): 319.62, 319.78 previous
• US CPI, n.s.a (MoM) (Mar): 0.22% ,0.44% previous
• US Initial Jobless Claims: 223K,223K forecast ,219K previous
• US Jobless Claims 4-Week Avg.: 223.00K, 223.00K previous
• US Real Earnings (MoM) (Mar): 0.3%, 0.3% previous
• US Initial Jobless Claims 223K,223K forecast,219K previous
• US Jobless Claims 4-Week Avg. 223.00K, 223.00 previous
Looking Ahead Events And Other Releases (GMT)
Currency Summaries
EUR/USD: The euro rose higher on Thursday as dollar weakened as markets stayed cautious following President Trump’s surprise 90-day pause on tariffs for many countries, which had sparked a major relief rally. Despite the pause, Trump raised tariffs on Chinese imports, bringing total U.S. duties on China to 145%, while keeping a 10% blanket tariff on most imports. In response, EU Commission President Ursula von der Leyen said the bloc will delay its planned retaliatory tariffs on U.S. goods as EU nations work toward trade agreements with Washington. The euro was up 2.23% Immediate resistance can be seen at 1.1234(38.2%fib), an upside break can trigger rise towards 1.1300(Psychological level).On the downside, immediate support is seen at 1.1092(50%fib), a break below could take the pair towards 1.0960 (61.8%fib).
GBP/USD: The British pound strengthened on Thursday as an intensifying U.S.-China tariff conflict prompted investors to abandon the greenback in favor of other havens. On Wednesday, President Trump surprised financial markets by reversing the steep tariffs imposed on trading partners less than 24 hours earlier. He announced a 90-day freeze on the liberation day tariffs but kept a 10% blanket duty on most countries. However, tariffs on Chinese imports were increased to 125% immediately, following China's retaliatory move with an 84% tariff. As a result, the total U.S. duties on Chinese imports have now reached 145%, including the new tariffs. The pound was up 1.13% at $1.29720. Immediate resistance can be seen at 1.3000(Psychological level), an upside break can trigger rise towards 1.3135(Higher BB).On the downside, immediate support is seen at 1.2851(50%fib), a break below could take the pair towards 1.2725(Lower BB).
USD/CAD: The Canadian dollar climbed to a near five-month high against the U.S. dollar on Thursday, as investors pulled back from U.S. markets amid fears that the escalating global trade war could disrupt the recent strength of the American economy. On Wednesday, U.S. President Donald Trump announced a temporary reduction in new tariffs on several countries, while increasing them on Chinese goods. In response, Canadian Prime Minister Mark Carney said he would hold a cabinet meeting on Friday to address the economic risks posed by the U.S. tariffs. The price of oil , one of Canada's major exports, settled 3.7% lower at $60.07 a barrel on the deepening U.S.-China trade war. The loonie was trading 0.6% higher at 1.3995 per U.S. dollar , after touching its strongest intraday level since November 25 at 1.3952.Immediate resistance can be seen at 1.4044 (50%fib), an upside break can trigger rise towards 1.4126 (61.8%fib).On the downside, immediate support is seen at 1.3961(38.2%fib), a break below could take the pair towards 1.3854 (23.6%fib low)
USD/JPY: The U.S. dollar weakened against the Japanese yen on Thursday as investors moved into safe-haven assets amid rising global trade tensions. The shift in sentiment followed President Donald Trump’s surprise announcement on Wednesday that he would temporarily suspend newly imposed tariffs on many countries for 90 days. However, he simultaneously intensified pressure on China by raising tariffs on Chinese imports, escalating the trade conflict between the world’s two largest economies.While the 90-day tariff pause initially sparked optimism and led to a surge in U.S. stocks, market participants grew increasingly cautious about the long-term implications of Trump’s unpredictable trade policies. Concerns about slower global growth and the potential economic fallout weighed on risk appetite. The dollar has fallen 3.46% against the yen . Immediate resistance can be seen at 146.81(38.2%fib) an upside break can trigger rise towards 147.00(Psychological level). On the downside, immediate support is seen at 143.68(23.6%fib) a break below could take the pair towards 143.00( (Psychological level).
Equities Recap
European shares soared on Thursday, posting their biggest one-day gains since 2022, as Trump's 90-day pause on tariffs sparked a major relief rally after a sharp market selloff.
UK's benchmark FTSE 100 closed up by 3.04 percent, Germany's Dax ended up by 4.53 percent, France’s CAC finished the day up by 3.88 percent.
Wall Street stocks fell sharply on Thursday amid growing concerns about the economic fallout from President Trump's escalating multi-front tariff war.
Dow Jones closed down by 2.50 %percent, S&P 500 closed down by 3.46% percent, Nasdaq settled down by 4.31% percent.
Commodities Recap
Gold prices surged almost 3% to reach an all-time high on Thursday, fueled by a decline in the dollar and intensifying tensions in the U.S.-China trade war.
Spot gold climbed 2.6% to $3,160.82 an ounce at 01:54 p.m. ET (1754 GMT), after hitting a record high of $3,171.49 earlier in the session.U.S. gold futures rose 3.2% to settle at $3,177.5.
Oil prices fell by more than $2 per barrel on Thursday, reversing the gains from the previous session. Investors reassessed the impact of a planned pause in U.S. tariffs, shifting their attention to the escalating trade war between Washington and Beijing.
U.S. West Texas Intermediate crude futures fell $2.28, or 3.7%, to settle at $60.07 per barrel. Brent crude futures fell $2.15, or 3.3%, to $63.33 a barrel.
