Market Information

Gold (XAU/USD) climbs to the top end of its daily trading range during the first half of the European session on Thursday, though it remains below the $5,200 mark.

TD Securities’ James Rossiter argues that major central banks have shifted their reaction functions after recent supply shocks, now placing greater emphasis on inflation and expectations than on growth.

EUR/USD continues to lose ground for the third consecutive day, trading around 1.1550 during the European hours on Thursday. Daily chart technical analysis indicates a persistent bearish bias as the pair moves downwards within a descending channel pattern.

MUFG’s Senior Currency Analyst Michael Wan warns the Indian Rupee is vulnerable under a prolonged Iran–Middle East conflict and Strait of Hormuz closure, with USD/INR potentially rising above 95.

ING’s Global Head of Macro Carsten Brzeski argues that the European Central Bank will keep rates unchanged at its 19 March meeting but adopt a more hawkish tone as the war in the Middle East and higher Oil prices revive memories of the 2022 energy shock.

USD/INR continues its winning streak for the third successive session on Thursday.

DBS Group Research’s Philip Wee warns that caution is warranted on USD/JPY as the pair trades near the 159–160 resistance zone after Operation Epic Fury. He expects the Bank of Japan to deliver a hawkish hold on March 19, distinguishing temporary supply-led inflation from demand-pull pressures.

TD Securities’ Prashant Newnaha expects the Reserve Bank of Australia to raise rates by 25 bps in March and again in May, fully reversing last year’s cuts and taking the cash rate back to 4.35%.

Here is what you need to know on Thursday, March 12:

GBP/USD extends its losses for the third successive session, trading around 1.3380 during the early European hours on Thursday.

Better market sentiment is taking its toll on the Greenback as stabilizing Oil prices give riskier positions more appeal to investors.

West Texas Intermediate (WTI) remains volatile on Tuesday, with sharp two-way swings as traders continue to assess the evolving geopolitical situation in the Middle East and its impact on global energy markets.

Standard Chartered economists maintain their call for Bank Indonesia to cut its policy rate by 25 bps in Q2-2026, but note that higher Oil prices and inflation now tilt risks toward a prolonged hold.

The US Dollar Index (DXY) fell to 98.50 on Tuesday, pulling back from last week's highs as safe-haven demand eased following US President Donald Trump's comments suggesting the Iran war is nearing its end.

NZD/USD trades around 0.5955 at the time of writing on Tuesday, gaining 0.35% on the day as the US Dollar (USD) softens across the board.

The Dow Jones Industrial Average rose to retest chart territory north of 48,000 on Tuesday, building on Monday's dramatic reversal. The S&P 500 and the Nasdaq Composite both gained ground as well as equity markets executed a broad turnaround.

Nomura’s Global Markets Research Team highlights that Swedish inflation has undershot consensus for four months, but renewed energy price pressures from the Iran conflict could offset this.

Silver (XAG/USD) trades on a firm footing on Tuesday, hovering around $89.55 at the time of writing, up 2.90% on the day.

The Pound Sterling (GBP) posts modest gains on Tuesday during the North American session as the Greenback remains weaker even though tensions in the Middle East remain high, despite US President Trump's comments that the end of the war is near.

The Japanese Yen (JPY) trades flat against the US Dollar (USD) on Tuesday, with USD/JPY giving up earlier gains as the Greenback edges lower.

GBP/USD extends its gains for the third successive session, trading around 1.3480 during the early European hours on Tuesday.

Here is what you need to know on Tuesday, March 10:

Deutsche Bank’s Jim Reid and his team describe an extreme reversal in Brent Oil, with prices falling from an intraday high near $120 to around $90.

OCBC strategists Sim Moh Siong and Christopher Wong attribute Gold’s pullback toward USD5015/oz to liquidity needs and profit‑taking rather than weaker fundamentals.

Silver (XAG/USD) attracts buyers for the third straight day and climbs to over a one-week high, around the 90.00 psychological mark, during the first half of the trading action on Tuesday. Moreover, the supportive technical setup backs the case for a further near-term appreciating move.

ING's Senior Economist Min Joo Kang argues that stronger Japan GDP data and resilient private spending support continued Bank of Japan (BoJ) policy normalisation, with a rate hike more likely in June than April.

The AUD/JPY cross trades in positive territory near 111.80 during the early European session on Tuesday. The Australian Dollar (AUD) strengthens against the Japanese Yen (JPY) as China's trade surplus grew more than expected at the beginning of 2026, driven by a significant surge in exports.

DBS Group Research’s Radhika Rao explains that the US and India have agreed a trade deal cutting reciprocal tariffs to 18%, with the final rate contingent on India continuing to reduce Oil imports from Russia.

Bank of Japan (BoJ) Executive Director Koji Nakamura said on Tuesday that it’s appropriate to conduct a bond taper in a predictable manner. Nakamura further stated that he will listen to views of various market players in compiling a new bond taper plan at the June policy meeting.

USD/INR rebounds after registering little losses in the previous session. However, the pair reached an all-time high of 92.81 on Monday as the Indian Rupee (INR) faces intense selling pressure amid increased risk aversion and higher oil prices.

MUFG’s Senior Currency Analyst Michael Wan highlights extreme volatility in Brent as prices spiked from US$90/bbl to US$120/bbl before retracing, driven by comments from President Trump that the Iran war could be ending soon.

The President and CEO of Saudi Aramco, Amin H. Nasser, said on Tuesday that he is concerned about the elevated risks that people are facing in the region. He added that the company are doing its best to meet the majority of our customers' requirements under the current circumstances.

Gold (XAU/USD) sticks to modest intraday gains heading into the European session on Tuesday, though it lacks follow-through buying and remains below the $5,200 mark.

BNY’s Americas Macro Strategist John Velis argues that the Middle East conflict hits the U.S. economy via higher Oil prices, weaker portfolios and greater uncertainty, creating a negative supply shock.

Volkmar Baur highlights exceptionally strong Chinese export data, with February exports up nearly 40% year-on-year and the combined January–February surplus reaching about 6.2% of GDP.

Rabobank strategists Molly Schwartz and Michael Every highlight extreme volatility in Brent, which spiked towards $120 before closing below $90, driven by Saudi supply disruptions, G7 stockpile plans and US policy options.

The EUR/USD pair edges lower to around 1.1615 during the early European session on Tuesday. Concerns over oil flow disruptions through the Strait of Hormuz boost the US Dollar (USD) as a safe-haven and create a headwind for the major pair.

Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser said on Tuesday that volatility in oil prices and the Middle East is a genuine challenge for central banks.  Hauser further stated that the response depends on the size and persistence of the price shock, which is very uncertain.

Standard Chartered economists argue that Europe faces a renewed energy price shock from the Middle East conflict, with Oil and natural gas prices sharply higher.

USD/CHF edges higher after two days of losses, trading around 0.7780 during the Asian hours on Tuesday. The pair gains ground as the US Dollar (USD) inches higher after a sharp intraday drop in the previous session.

The USD/CAD pair struggles to build on the overnight bounce from the 1.3525 area, or a nearly one-month low, and oscillates in a narrow band during the Asian session on Tuesday. Spot prices currently trade below the 1.3600 mark, nearly unchanged for the day, amid mixed fundamental cues.

The EUR/JPY cross loses traction to around 183.20 during the early European session on Tuesday. The Japanese Yen (JPY) strengthens against the Euro (EUR) as escalating conflict in the Middle East boosts safe-haven demand.

West Texas Intermediate (WTI) Crude Oil prices regain positive traction following the previous day's dramatic turnaround from the highest level since June 2022 and climb back above the $88.00 mark during the Asian session on Tuesday.

Gold prices rose in India on Tuesday, according to data compiled by FXStreet.

The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 98.90 during the early European trading hours on Tuesday. The DXY edges higher amid uncertainty and persistent geopolitical risks in the Middle East.

China's Trade Balance for January-February, in Chinese Yuan (CNY) terms, arrived at CNY1.5 trillion, widening from the previous figure of CNY808.80 billion.

AUD/USD inches lower after two days of gains, trading around 0.7060 during the Asian hours on Tuesday.

The GBP/USD pair struggles to capitalize on the previous day's move higher and edges lower during the Asian session on Tuesday. Spot prices, however, manage to hold above the 1.3400 mark as investors await further developments surrounding the US-Israel-Iran war before placing fresh directional bets.

The NZD/USD pair attracts some sellers during the Asian session on Tuesday and erodes a part of the previous day's goodish recovery gains from levels just below mid-0.5800s.

USD/CAD edges higher after two days of losses, trading around 1.3600 during the Asian hours on Tuesday.