Societe Generale strategists note that EUR/CHF has rebounded about 0.3% after the Swiss National Bank (SNB) left rates at 0.0% but softened its FX intervention language.

EUR/CAD gains ground after registering modest losses the previous day, trading around 1.6060 during European hours on Thursday. The Euro (EUR) is appreciating as markets react positively to better-than-expected economic sentiment data out of Germany.

Commerzbank’s Volkmar Baur reports the South African Reserve Bank (SARB) raised its benchmark rate by 25 bps to 7.25%, the second hike this year as earlier expectations for cuts faded with higher Oil prices. Despite the move, South African Rand (ZAR) weakened, largely on Dollar strength.

New York Federal Reserve (Fed) Bank John Willams said during the European trading session on Thursday that downside employment risks have eased and the economy is showing a strong demand from Artificial Intelligence (AI).

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

Swiss National Bank governing board member Petra Tschudin said at the post-monetary policy assessment press conference on Thursday that the “Swiss GDP growth was exceptionally strong in Q2.”

Swiss National Bank (SNB) Chairman Martin Schlegel is speaking at the press conference after the June monetary policy assessment, explaining the reasons behind leaving the interest rate unchanged at 0%.

Commerzbank’s Volkmar Baur now expects the Reserve Bank of Australia (RBA) to follow market pricing and deliver a rate hike next week, despite earlier assumptions of no further tightening.

 Bank of England (BoE) Deputy Governor Clare Lombardelli said on Thursday that “policy is increasingly likely to need to tighten if elevated energy prices persist, absent clear evidence of disinflation or weaker activity.”

The German IFO Institute Business Climate Index improves at a faster-than-expected pace in September. The sentiment data arrives higher at 89.9 from estimates of 89.0 and 88.8 in August.

Swiss National Bank (SNB) leaves its key policy rates unchanged at 0%, as expected by market particiapnts.

ING’s EMEA FX & FI Strategist Frantisek Taborsky highlights that stronger regional hawkish repricing has not prevented rate differentials from narrowing or staying flat, leaving Central and Eastern European (CEE) currencies vulnerable as the Dollar rallies and global energy prices rebound.

Deutsche Bank notes a broad setback in global equities, with the S&P 500, NASDAQ and Russell 2000 all posting notable declines despite stronger growth data.

Commerzbank’s Michael Pfister highlights notable Swiss Franc weakness since July, with EUR/CHF approaching 0.95 as markets price more European Central Bank (ECB) tightening than from the Swiss National Bank (SNB).

European Central Bank (ECB) Governing Council member Martin Kocher said on Thursday that the central bank must prevent too high inflation from becoming entrenched.

Strong US manufacturing data boosts expectations for an October Fed rate hike to 69.7%.

Asian stock markets reflect a mixed performance on Thursday ahead of the meeting between United States (US) President Donald Trump and Chinese leader Xi Jinping later in the day.

AUD/JPY extends its losses for the second successive day, trading around 110.80 during Asian hours on Thursday. The currency cross continues to trade under pressure as the Australian Dollar (AUD) remains subdued following the release of the latest domestic labor market data.

Japanese Finance Minister (FM) Satsuki Katayama said on Thursday that principles on foreign exchance established since coordinated Japan-US intervention remain in effect.

Australia Part-Time Employment up to 45.8K in August from previous -32.2K

Australia Full-Time Employment declined to -6.3K in August from previous 16.3K

West Texas Intermediate (WTI) oil price depreciates after registering modest gains in the previous day, trading around $90.80 per barrel during Asian hours on Thursday. Crude oil prices may rebound as ongoing uncertainty surrounds the progress of the United States (US)-Iran diplomatic talks.

US Treasury Secretary Scott Bessent said that the United States (US) and China have agreed to extend a bilateral trade truce that was set to expire in November through January 10, Blomoberg reported on Wednesday.

Ukrainian President Volodymyr Zelenskyy said Kyiv remains ready for a bilateral “energy ceasefire” with Russia after holding separate talks with the leaders of the United States (US) and the United Kingdom (UK) in New York City, CNBC reported on Wednesday.

Iran President Masoud Pezeshkian said that the country won’t allow freedom of navigation through the Strait of Hormuz while sanctions and a US blockade remain in place, Bloomberg reported on Wednesday.

Russia Industrial Output below forecasts (0.5%) in August: Actual (-0.6%)

Iran is reviewing the United States’ (US) response to its proposal aimed at ending hostilities, a senior Iranian official told Reuters on Wednesday, signaling that diplomatic efforts between Tehran and Washington remain underway.

Federal Reserve (Fed) Governor Michael Barr said on Wednesday that the central bank will likely need to raise interest rates further to ensure a timely return to the 2% inflation target.

Standard Chartered economists Anubhuti Sahay and Saurav Anand highlight India’s rapidly rising reliance on Russian Oil, now at 44% of crude imports since the Middle East crisis, up from 2% in 2021.

United States S&P Global Composite PMI registered at 58.4 above expectations (0) in September