New Zealand Trade Balance NZD (YoY) down to $-3B in February from previous $-2.3B

New Zealand Trade Balance NZD (MoM) above expectations ($-470M) in February: Actual ($-257M)

New Zealand Imports: $6.89B (February) vs $6.7B

New Zealand Exports climbed from previous $6.21B to $6.63B in February

Argentina Trade Balance (MoM) came in at $788M, below expectations ($971M) in February

The US Dollar Index (DXY) fell below the 100 mark and is now trading near the 99.40 price zone after investors assessed the Fed’s interest rate decision. Chair Jerome Powell claimed on Wednesday that higher energy prices will likely lead to inflation.

AUD/USD advances some 0.47% on Thursday as the US Dollar weakens, despite traders delaying Fed rate cuts until 2027, while US Crude Oil prices are edging lower by 4.21%, a headwind for the buck. The pair hovers around 0.7050 at the time of writing.

Gold (XAU/USD) retreats more than 4.5% on Thursday as US Treasury yields rise amid investor concerns about high energy prices, while a solid US jobs report prompted traders to price out a rate cut in 2026, with expectations of the first move in 2027.

Silver (XAG/USD) rebounds from daily lows on Thursday as a pullback in the US Dollar (USD) and Treasury yields provides support, though the metal remains on the back foot as markets reassess global rate expectations following a wave of central bank decisions.

The Dow Jones Industrial Average extended losses on Thursday, falling below 46,000 as a renewed spike in Crude Oil prices deepened concerns about stagflation in the US economy.

NZD/USD trades around 0.5840 on Thursday, up 0.73% on the day, rebounding after the previous day’s decline. The pair largely shrugs off disappointing GDP data from New Zealand, instead benefiting from a weaker US Dollar (USD).

BNP Paribas highlights that Central European economies are holding up well despite a shrinking population and working-age cohort. The bank notes continued support from EU funds, strong productivity gains relative to wages, and a highly educated workforce.

Bitcoin (BTC) is extending its decline below $70,000 at the time of writing on Thursday as Iran's war-driven volatility spreads across global markets, leaving a cascade of losses in Gold, Silver and stocks.

West Texas Intermediate (WTI) US Oil trades around $97.20 per barrel on Thursday, down 1.68% on the day after reaching an intraday high of $100.15, as markets balance improving supply conditions against escalating geopolitical risks.

BNY’s Geoff Yu remains broadly constructive on South Africa and the Rand, citing structural improvements under the Government of National Unity and earlier terms-of-trade support from the 2026 commodity rally.

The GBP/USD surges during the North American session after the Bank of England held rates unchanged, citing high inflationary pressures spurred by the Middle East conflict. The pair trades at 1.3356, up 0.76%.

United States 4-Week Bill Auction declined to 3.615% from previous 3.64%

USD/JPY fell to 158.40 on Thursday as investors assessed both nations' central bank decisions.

EUR/USD edges higher on Thursday as the Euro (EUR) strengthens following the European Central Bank’s (ECB) monetary policy decision, while the US Dollar (USD) weakens broadly after a series of central bank decisions, with both the Bank of Japan (BoJ) and the Bank of England (BoE) delivering hawkish

Nordea’s Chief Analyst Jan von Gerich says the European Central Bank (ECB) kept rates unchanged but signalled greater readiness to tighten if higher energy prices feed into broader inflation.

Rabobank’s Senior Macro Strategist Stefan Koopman notes that the Bank of England (BoE) kept Bank Rate at 3.75% but adopted a distinctly hawkish tone as a renewed energy shock lifts inflation projections.

TD Securities strategists note that a more hawkish Bank of England (BoE), including removal of its easing bias and discussion of potential hikes, produced only modest Pound (GBP) gains versus the Dollar (USD).

United States EIA Natural Gas Storage Change below forecasts (39B) in March 13: Actual (35B)

AUD/USD trades around 0.7050 on Thursday, up 0.34% on the day, supported by the resilience of the Australian Dollar (AUD) following the release of Australia’s employment data.

HSBC strategists Jose Rasco and Michael Zervos say the Federal Reserve kept the funds rate at 3.50%-3.75% and signalled a clear wait-and-see stance.

Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to leave key rates unchanged at the March policy meeting and responds to questions from the press.

Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to leave key rates unchanged at the March policy meeting and responds to questions from the press.