Swiss National Bank (SNB) Chairman Martin Schlegel is addressing the press conference post the June monetary policy assessment, in which the central bank held interest rates unchanged at 0%.

Eurozone Current Account n.s.a: €14.9B (April) vs previous €24.1B

Eurozone Current Account s.a came in at €15.7B, below expectations (€18.5B) in April

The Swiss National Bank (SNB), as widely expected, announced to keep the policy rate unchanged at 0% at the conclusion of the second quarter meeting this Thursday.

Bank Indonesia (BI) decided to hike the benchmark interest rate by 25 basis points to 5.75% on June 18, from the previous 5.5%. The decision aligned with the market expectations.

Bitcoin (BTC) remains under pressure, extending its correction, trading below $64,000 at the time of writing on Thursday. The US Federal Reserve (Fed) left interest rates unchanged but struck a hawkish tone on Wednesday, dampening the risk sentiment.

Indonesia Bank Indonesia Rate meets forecasts (5.75%)

Switzerland SNB Interest Rate Decision meets forecasts (0%)

Pi Network (PI) price is down to $0.1300 at press time on Thursday, extending its nearly 3% losses from the previous day. The PI token remains capped as the broader market recovery stalls amid recurring mild spikes in long liquidation.

Crude Oil prices drift lower on Thursday, weighed by hopes of a US-Iran peace agreement and the reopening of the key Strait of Hormuz. The price of the US benchmark West Texas Intermediate (WTI) barrel hit a three-month low of $73.36 on Thursday, on track for a more than 10% weekly decline.

The GBP/JPY cross builds on its steady intraday recovery from a one-and-a-half-week low, touched earlier this Thursday, and reclaims the 214.00 mark following the release of the UK monthly employment details.

Deutsche Bank’s report highlights that the Japanese Yen has weakened to a post‑2024 low against the Dollar, though its decline was smaller than other G10 currencies.

Deutsche Bank’s Chief UK Economist Sanjay Raja notes that recent UK labour market data show a mix of stronger employment indicators and softer pay dynamics, suggesting the jobs market is not yet fully recovered.

The British Pound (GBP) trims losses against the US Dollar (USD) on Thursday, but remains near the two-month low hit on Wednesday.

EUR/JPY gains ground after registering modest losses in the previous day, trading around 185.10 during the early European hours on Thursday. The currency cross holds a capped tone as spot has slipped just under the nine-period and 50-period Exponential Moving Averages (EMAs).

The USD/CAD pair trades on a positive note near 1.4105 during the early European trading hours on Thursday. The US Dollar (USD edges higher against the Canadian Dollar (CAD) after a hawkish hold by the Federal Reserve (Fed) triggered rate-hike bets despite ‌a US-Iran deal. 

Here is what you need to know on Thursday, June 18:

Deutsche Bank’s Early Morning Reid team notes that Kevin Warsh’s hawkish debut as Fed Chair and a more aggressive dot plot pushed markets to fully price a Fed hike by October.

Deutsche Bank notes that the hawkish Fed repricing and stronger Dollar pressured Gold prices. The bank points out that risk assets sold off after the FOMC, with Gold declining alongside Bitcoin as 2‑year Treasury yields surged.

The EUR/GBP cross pares gains near 0.8650 during the early European trading hours on Thursday. The British Pound (GBP) trades flat against the Euro (EUR) following the UK employment report. All eyes will be on the Bank of England (BoE) interest rate decision later on Thursday.  

Switzerland Exports (MoM) increased to 25128M in May from previous 22286M

Switzerland Imports (MoM) fell from previous 19188M to 19018M in May

Dogecoin (DOGE) is trading in the red below $0.08500 for the fourth straight day as broader market interest shifts toward real-world utility tokens. The meme coin is losing retail strength despite a mild institutional inflow on Wednesday after 10 days of silence.

United Kingdom Claimant Count Rate climbed from previous 4.4% to 4.5% in May

The United Kingdom’s (UK) ILO Unemployment Rate fell to 4.9% in the three months to April after reporting 5.0% in the previous reading, data published by the Office for National Statistics (ONS) showed on Thursday. The data came in below the market consensus of 5.0%.

Switzerland Trade Balance increased to 6110M in May from previous 3098M

United Kingdom Employment Change (3M) came in at 100K, above forecasts (80K) in April