Commerzbank analysts Michael Pfister and Norman Liebke report that the Bank of Mexico (Banxico) is expected to leave rates unchanged, with markets no longer pricing cuts in the near term after the Iran conflict.

Brazil Mid-month Inflation above forecasts (0.29%) in March: Actual (0.44%)

The USD/INR pair is expected to open higher on Friday after a holiday in Indian markets on Thursday due to Ram Navami celebrations.

ING's Francesco Pesole focuses on Bank of England (BoE) communication, noting mixed but generally hawkish tones from Megan Greene and Sarah Breeden, while Alan Taylor remains dovish. He expects greater room for dovish repricing in the Pound curve under a de-escalation scenario.

BNY’s Head of Markets Macro Strategy Bob Savage highlights growing pressure on the South African Rand as ZAR leads high‑yield EM outflows ahead of the SARB decision.

The New Zealand Dollar (NZD) heads south against the US Dollar (USD) for the third consecutive day, extending its reversal from last week's highs, a few pips short of 0.5900, to session lows at 0.5781 on Thursday’s European trading session.The risk-sensitive Kiwi has been hit by a sour market sentim

MUFG’s Derek Halpenny highlights that the ECB is signalling a tougher reaction function to an energy-driven inflation shock, contrasting with past cycles.

The Pound Sterling trades marginally lower against its major currency peers, edging down to near 1.3350 against the US Dollar (USD) during the European trading session on Thursday.

The US Dollar (USD) maintains an immediate bullish tone against the Japanese Yen (JPY) on Thursday, extending its rebound from Monday’s lows at 158.00 to levels above 159.50 so far.

The Euro (EUR) remains practically flat against the US Dollar (USD) at the time of writing on Thursday, consolidating losses from the previous two days.

UOB economist analysts Quek Ser Leang Lee and Sue Ann highlight that EUR/USD failed to sustain recent gains, slipping to 1.1554 as downside momentum picked up. Intraday, they see scope for a further drift toward 1.1530 while keeping 1.1480 intact as major support.

Rabobank’s Senior FX Strategist Jane Foley notes that despite the Reserve Bank of Australia being the only G10 central bank to hike rates last week, the Australian Dollar has underperformed recently versus peers. She links this to prior outperformance and shifting G10 rate expectations.

Societe Generale analysts note that USD/MXN has formed an interim low near 17.10 and is in a short-term rebound within a broad consolidation. The 18.00/18.20 area, aligned with the 200-DMA and January peak, is highlighted as key resistance.

Eurozone M3 Money Supply (3m): 3% (February)

Eurozone M3 Money Supply (YoY) below expectations (3.3%) in February: Actual (3%)

ING’s Francesco Pesole highlights that EUR/USD has slipped back below 1.16 despite firm risk sentiment, as earlier gains on the European Central Bank’s (ECB) surprise hawkishness are partly unwound. Markets have reduced pricing for an April ECB hike, closely tracking Oil moves.

NZD/USD extends its losing streak for the third successive day, trading around 0.5780 during the European hours on Thursday. The technical analysis of the daily chart signals a bearish bias as the pair is consolidating within a descending channel pattern.

The Euro (EUR) edges up slightly against the British Pound (GBP) on Thursday, yet moving within previous ranges, following downbeat German consumer confidence figures and hawkish comments by European Central Bank (ECB) member and Bundesbank President Joachim Nagel.

The USD/CHF pair ticks higher to near 0.7925 during the European trading session on Thursday. The Swiss Franc pair gains as the US Dollar (USD) holds onto gains amid growing doubts over an early ceasefire between the United States (US) and Iran, following the release of Tehran’s conditions.

The AUD/USD pair struggles to gain any meaningful traction on Thursday and oscillates in a narrow range, just above a weekly trough set earlier this Thursday.

Silver (XAG/USD) is trading lower for the second consecutive day on Thursday, testing levels below the $70.00 psychological level at the time of writing.

EUR/JPY halts its four-day winning streak, trading around 184.20 during the European hours on Thursday. The currency cross holds losses as the Japanese Yen (JPY) draws support from rising expectations of a near-term rate hike by the Bank of Japan (BoJ).

The USD/JPY pair trades sideways around 159.40 during the European trading session on Thursday. The pair seems to be following the footprints of the US Dollar (USD), which clings to the previous day’s high amid uncertainty surrounding the war in the Middle East.

The USD/CAD pair prolongs its weekly uptrend for the fourth successive day and climbs to over a two-month high during the early European session on Thursday. Spot prices currently trade around the 1.3820 region, up 0.10% for the day, and seem poised to appreciate further.

Commerzbank economists Dr. Henry Hao and Moses Lim note AUD/USD slipped to 0.6950 as Australia faces a stagflationary dilemma. Pre-war core inflation held at 3.3% while a Middle East energy shock could push prices higher.

The GBP/USD pair trades in a tight range around 1.3360 during the early European trading session on Thursday. The Cable consolidates as investors await clarity on whether Iran intends to pursue a ceasefire, as claimed several times by United States (US) President Donald Trump.

AUD/JPY moves sideways after three days of losses, trading around 110.90 during the Asian hours on Thursday.

The EUR/USD pair trades slightly higher around 1.1570 during the late Asian trading session on Thursday.

The GBP/JPY cross holds steady above the 213.00 mark during the Asian session on Thursday and remains close to a one-month peak, retested earlier this week.

AUD/USD steadies after two days of losses, trading around 0.6950 during the Asian hours on Thursday. The pair trades flat as the Australian Dollar (AUD) stays steady.