Danske Research Team expects the European Central Bank (ECB) to leave the deposit rate at 2.00% while keeping the door open for summer tightening. The bank looks for 25bp hikes in both June and July and sees Euro Area Harmonised Indices of Consumer Prices (HICP) at 2.8–2.9% y/y, with core easing.

Germany Retail Sales (YoY) below expectations (0.5%) in March: Actual (-2%)

Germany Retail Sales (MoM) below forecasts (-0.1%) in March: Actual (-2%)

The GBP/JPY enters a bullish consolidation phase near its highest level since January 2008 and holds steady above the 216.00 mark heading into the European session on Thursday.

USD/CHF extends its gains for the third consecutive day, trading around 0.7920 during the Asian hours on Thursday.

The AUD/JPY cross gains ground to near 114.25 during the early European session on Thursday. The Australian Dollar (AUD) strengthens against the Japanese Yen (JPY) as Australia’s Consumer Price Index (CPI) inflation surged in March, as war in the Middle East drove up energy costs.

The NZD/USD pair attracts fresh sellers following a modest Asian session move up to the 0.5845 area on Thursday and slides back closer to a two-and-a-half week low, touched the previous day.

EUR/JPY edges lower after four days of gains, trading around 187.20 during the Asian hours on Thursday. The currency cross depreciates as the risk-sensitive Euro (EUR) struggles amid increased risk aversion, which could be attributed to the geopolitical tensions in the Middle East.

The USD/JPY pair steadies near a 21-month high of around 160.45 during the early European trading hours on Thursday. Traders prefer to wait on the sidelines as Japanese authorities are on high alert for intervention after the Japanese Yen (JPY) breached the psychological level. 

The AUD/USD pair gains some positive traction during the Asian session on Thursday and recovers a part of the previous day's heavy losses to the 0.7100 mark, or a two-week low.

The GBP/USD pair struggles to capitalize on a modest Asian session uptick to the 1.3500 neighborhood, though it holds above the 100-day Simple Moving Average (SMA).

EUR/USD extends its losses for the third successive day, trading around 1.1660 during the Asian hours on Thursday. The daily chart technical analysis indicates a potential for a bearish reversal, as the pair has slipped below the ascending channel.

USD/CAD edges lower after remaining flat in the previous day, trading around 1.3680 during the Asian hours on Thursday.

The USD/JPY pair loses traction to around 160.25 during the Asian trading hours on Thursday. The Japanese Yen (JPY) edges higher against the US Dollar (USD) amid intervention fears from Japanese authorities.

NZD/USD gains ground after two days of losses, trading around 0.5830 during the Asian hours on Thursday. The pair advances as the New Zealand Dollar (NZD) remains stronger following the latest domestic economic data releases.

The AUD/USD pair gathers strength to near 0.7130 during the early Asian session on Thursday. The Australian Dollar (AUD) edges higher against the US Dollar (USD) on hotter domestic inflation data.

Wednesday set the trap: GBP/USD spent the early part of the week trying to defend the 1.355 area, then folded.

The EUR/USD pair loses ground to near 1.1680 during the early European session on Thursday. The US Dollar (USD) strengthens against the Euro (EUR) after the US Federal Reserve (Fed) left interest rates unchanged.

South Korea Industrial Output Growth registered at 0.3% above expectations (0.2%) in March

South Korea Industrial Output (YoY) below forecasts (3.8%) in March: Actual (3.6%)

Brazil Interest Rate Decision meets expectations (14.5%)

The AUD/USD drops towards 0.7100, down some 1%, as the Federal Reserve holds rates unchanged and Fed Chair Jerome Powell hints that, once his term as chief ends, he will remain on the Fed’s board.

GBP/USD maintains its negative intraday trend, remaining steady following the Federal Reserve’s decision to keep interest rates unchanged at Jerome Powell’s final meeting as Fed Chair.

USD/CAD saw a sharp spike to a high near 1.3711 around the FOMC announcement before sellers reclaimed the move.

The USD/JPY is trading near the 160.20 price region, near a two-year high, after the Federal Reserve (Fed) decided to hold interest rates as widely anticipated, marking the last meeting chaired by Jerome Powell.

EUR/USD remains negative in the day but unchanged as the Federal Reserve’s decided to hold rates unchanged at the last meeting of Jerome Powell as the Chairman of the Fed. At the time of writing, the pair trades around 1.1670, down 0.48% as eyes turn to Powell’s press conference.

EUR/CAD trades on the back foot on Wednesday as the Canadian Dollar (CAD) strengthens broadly following the Bank of Canada monetary policy announcement, while rising Oil prices add further support to the commodity-linked Loonie.

USD/JPY trades higher on Wednesday around 160.25, up 0.40% on the day and reaching a one-month high, close to the March 30 peak at 160.46.

USD/CAD traded essentially flat on Wednesday, last seen near 1.3680 after a brief whipsaw spike to about 1.3710 was quickly retraced.

NZD/USD trades lower around 0.5840 on Wednesday at the time of writing, down 0.76% on the day, as markets adopt a wait-and-see stance ahead of the Federal Reserve (Fed) monetary policy decision later in the day.