Near Protocol (NEAR) and Bittensor (TAO) extend gains on Thursday, likely driven by AI chip manufacturer NVIDIA's record-breaking $58.3 billion in profits last quarter. The technical outlook for NEAR and TAO is cautiously optimistic as their news-driven rally approaches crucial resistance levels.

BNY’s Geoff Yu notes that U.S. long-term inflation expectations, measured via 5y5y swaps, are catching up with Europe’s as markets price prolonged disruption risks. He expects further convergence, with up to 10bp upside.

Silver prices (XAG/USD) fell on Thursday, according to FXStreet data. Silver trades at $75.58 per troy ounce, down 0.41% from the $75.89 it cost on Wednesday.

ING analysts Warren Patterson and Ewa Manthey say the Brent market remains highly sensitive to Iran-related news, with prices dropping sharply on renewed hopes of a US-Iran agreement and improved tanker flows through the Strait of Hormuz.

Danske Bank’s Danske Research Team notes that EUR/USD has seen only a modest move higher, with the pair holding just above 1.16 despite falling global yields.

NZD/USD moves little after registering modest gains in the previous day, trading around 0.5870 during the European hours on Thursday. The technical analysis of the daily chart signals an ongoing bearish bias as the pair remains within the descending channel pattern.

Eurozone Construction Output s.a (MoM) rose from previous -0.2% to 0.8% in March

Eurozone Construction Output w.d.a (YoY) rose from previous -1.9% to -1.2% in March

S&P Global will release the May flash Purchasing Managers' Indices (PMIs) for most major economies, including the United States (US), on Thursday. These surveys of top private sector executives are seen as an early indicator of the country’s economic health.

United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann say USD/JPY’s uptrend is losing steam after the pair failed to extend gains beyond 159.25 and posted its first daily decline in seven sessions.

Spain 5-y Bond Auction increased to 2.959% from previous 2.911%

The Euro (EUR) trades marginally lower against the US Dollar (USD) on Thursday, yet within the last few days’ range, changing hands at 1.1615 at the time of writing.

France's private-sector activity took a deep hit in May, according to preliminary data from S&P Global, suggesting that the surge in Oil prices has hit households and businesses hard in the Eurozone's second-largest economy.

According to Iran’s Iranian Students News Agency (ISNA), Iran is responding to a text sent by the United States (US). The agency has also reported that the visit of Pakistan's army chief to Tehran is in order to minimize the gaps and reach an official announcement of agreement.

Bitcoin (BTC) extends its recovery, trading above $77,500 on Thursday amid optimism over a potential US-Iran peace deal that is supporting the market's risk-on sentiment.

Rabobank’s RaboResearch team, led by Michael Every and Joe DeLaura, argues that the Iran War could accelerate a shift from unified Oil markets toward Balkanised pricing blocs.

The United Kingdom (UK) S&P Global Composite Purchasing Managers' Index (PMI) surprisingly declined in May. The Composite PMI has come in at 48.5, a figure below 50.0 is considered a contraction in the business activity.

Deutsche Bank analysts note the tech-led equity rebound extended into Asia, with the KOSPI and Nikkei sharply higher after Nvidia’s results drew a muted share reaction despite 85% yoy sales growth and stronger-than-expected guidance.

United Kingdom S&P Global Services PMI came in at 47.9, below expectations (51.8) in May

United Kingdom S&P Global Manufacturing PMI registered at 53.7 above expectations (53) in May

United Kingdom S&P Global Composite PMI below forecasts (51.7) in May: Actual (48.5)

The US Dollar (USD) gives back a majority of its early gains as the United States (US) Treasury Yields correct sharply due to growing optimism that the United States (US) and Iran will reach a deal soon.

ING commodities strategists Warren Patterson and Ewa Manthey report a notable decline in global Aluminium production in April, driven largely by sharp cuts in Gulf output linked to the Iran conflict.

Dow Jones futures fall 0.22% below 50,000 during European hours ahead of the United States (US) regular opening on Thursday. Meanwhile, the S&P 500 decline 0.27% to near 7,430, and the Nasdaq 100 futures plunge 0.42% toward 29,250.

Standard Chartered’s Nicholas Chia argues that softer Australian labour data and activity indicators support the view that the Reserve Bank of Australia has likely peaked its cash rate at 4.35%.

Eurozone's preliminary HCOB Composite PMI deteriorates further in May. The Composite PMI arrives lower at 47.5, while it was expected to remain steady at 48.8. A figure below 50.0 is considered a contraction in the business activity.

Eurozone Current Account n.s.a increased to €24.1B in March from previous €21.1B