Nomura analysts note that April Euro area PMIs point to stagflation risks as activity softens while price indices jump to highs last seen in 2022/23.

United States S&P Global Manufacturing PMI registered at 54 above expectations (52.5) in April

United States S&P Global Composite PMI climbed from previous 50.3 to 52 in April

United States S&P Global Services PMI registered at 51.3 above expectations (50) in April

ING’s Francesco Pesole notes that the Norwegian Krone (NOK) has rallied sharply versus both US Dollar (USD) and Euro (EUR) in April, supported by resilient US equities and higher Oil prices.

Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is holding relatively firm against a stronger US Dollar (USD), helped by resilient risk sentiment and record S&P 500 levels.

Russia Central Bank Reserves $ climbed from previous $774.8B to $779.5B

Canada Employment Insurance Beneficiaries Change (MoM) rose from previous -1.9% to -1.6% in February

United States Continuing Jobless Claims came in at 1.821M, above forecasts (1.82M) in April 10

Canada Raw Material Price Index came in at 12%, above forecasts (9.3%) in March

Canada Industrial Product Price (MoM) above expectations (1.6%) in March: Actual (2.4%)

United States Initial Jobless Claims 4-week average increased to 210.75K in April 17 from previous 209.75K

United States Initial Jobless Claims above forecasts (212K) in April 17: Actual (214K)

United States Chicago Fed National Activity Index declined to -0.2 in March from previous -0.11

Mexico 1st half-month Core Inflation below expectations (0.2%) in April: Actual (0.18%)

Mexico 1st half-month Inflation registered at 0.11% above expectations (0.08%) in April

Mexico Retail Sales (MoM) below expectations (-0.1%) in February: Actual (-0.9%)

Mexico Retail Sales (YoY) registered at 3.1%, below expectations (4.1%) in February

Societe Generale analysts argue that the Australian Dollar’s (AUD) strong year-to-date performance leaves it vulnerable to concerns over imported petroleum dependence during the Gulf blockade.

The preliminary United States (US) S&P Global Purchasing Managers’ Index (PMI) data for April is due for release today at 13:45 GMT.

Japan’s Finance Minister (FM) Satsuki Katayama said during the European trading session on Thursday that the government has “free hand” in conducting stealth interventions against one-way speculative moves against the Japanese Yen (JPY).

TD Securities analysts expect United Kingdom (UK) Retail Sales to rise 0.1% month-on-month in March, slightly above market consensus, viewing February’s weakness as payback for January’s strength rather than softer demand.

Deutsche Bank analysts note Brent Oil remains on an upward trajectory, trading above $103 per barrel and heading for a fourth consecutive daily gain as the Iran conflict persists.

United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann see EUR/USD biased lower in the near term after breaking below 1.1720, but doubts a move to major support at 1.1665 today. For the coming weeks, they expect range trading between 1.1665 and 1.1795.

TD Securities strategists Prashant Newnaha and Alex Loo note that Australian activity has stabilised in April, with services rebounding into expansion while manufacturing remains in contraction. However, they stress that input and output prices across both sectors have surged to multi‑year highs.

BNY’s Geoff Yu argues that recent European inflation data do not yet justify pre-emptive tightening by the European Central Bank (ECB) or Bank of England (BoE).

EUR/CAD extends its losing streak for the seventh consecutive day, trading around 1.5980 during the European hours on Thursday. The currency cross remains in the negative territory following the release of Purchasing Managers’ Index (PMI) data from Germany and the Eurozone.

United Kingdom S&P Global Services PMI came in at 52, above expectations (50) in April

United Kingdom S&P Global Manufacturing PMI came in at 53.6, above forecasts (49.9) in April

United Kingdom S&P Global Composite PMI registered at 52 above expectations (49.8) in April