Commerzbank notes that USD/TWD has risen for five consecutive sessions to 31.68, driven by foreign equity outflows as global tech stocks correct. Taiwan’s exports and imports are surging on AI-related demand, while CPI has moved above the central bank’s 2% target.
Silver prices (XAG/USD) rose on Thursday, according to FXStreet data. Silver trades at $64.05 per troy ounce, up 1.05% from the $63.39 it cost on Wednesday.
Commerzbank’s Michael Pfister expects the European Central Bank (ECB) to deliver its first rate hike in months, but notes this is already priced into EUR/USD. He doubts President Lagarde will pre-commit to multiple hikes and highlights cooling Oil prices and softer inflation expectations.