EUR/GBP moves sideways after registering gains in the previous session, trading around 0.8700 during the Asian hours on Thursday. The currency cross remains subdued ahead of the Eurozone Retail Sales data release later in the day.

Italy Retail Sales s.a. (MoM) came in at 0.6%, above expectations (0.2%) in January

Italy Retail Sales n.s.a (YoY) up to 2.3% in January from previous 0.9%

Italy Retail Sales s.a. (MoM) below expectations (0.2%) in January: Actual (-0.8%)

Deutsche Bank strategists highlight that markets are pricing out early Federal Reserve easing following strong ISM Services and ADP private payrolls data.

Chris Turner at ING notes that despite broad Dollar strength, the Pound has outperformed the Euro, with EUR/GBP dropping sharply during a recent deleveraging phase. He attributes this to stretched positioning and reduced expectations for Bank of England easing.

Austria Gross Domestic Product (QoQ) fell from previous 0.2% to 0% in 4Q

Switzerland Unemployment Rate s.a (MoM) increased to 3% in February from previous 2.9%

Spain Industrial Output Cal Adjusted (YoY) registered at 0.3%, below expectations (1.7%) in January

France Industrial Output (MoM) in line with expectations (0.5%) in January

European Central Bank (ECB) Governing Council (GC) members and Bank of France Governor, François Villeroy de Galhau, assures investors that the central bank is closely tracking energy prices and markets amid the war in the Middle East in his comments during European trading hours on Thursday.

Michael Pfister at Commerzbank notes that higher Oil prices and a stronger Swiss Franc are offsetting each other on inflation, leaving Swiss price pressures subdued.

China's 15th Five-Year Plan (2026–2030) was officially submitted for review to the National People's Congress (NPC) on Thursday. This strategic blueprint marks a critical shift toward "high-quality development" and technological self-reliance to navigate a more volatile global environment.

Asian stock markets recover significantly on Thursday after facing a bloodbath in the last three trading days. The strong recovery move in equity markets from the largest continent seems to be backed by the arrival of significant value bets after plunging due to the war in the Middle East.

The Indian Rupee (INR) surges in the opening trade against the US Dollar (USD) on Thursday.

The Iranian government denied reports that it had sent a message to the United States (US) amid the ongoing conflict. Tehran declared that the armed forces had prepared for a long-term war instead of negotiating.

Singapore Retail Sales (YoY): -0.4% (January) vs previous 2.7%

Singapore Retail Sales (MoM) climbed from previous -5.4% to 6.1% in January

The International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Thursday that global economic resilience is being tested yet again by new Middle East conflict.

The AUD/USD pair attracts some sellers to around 0.7065 during the Asian trading hours on Thursday. The Australian Dollar (AUD) weakens against the US Dollar (USD) as Australia's trade surplus narrows unexpectedly in January.

In an annual report presented by Premier Li Qiang at the opening session of this year's meeting of the National People's Congress (NPC) on Thursday, China set its 2026 economic growth target at 4.5%-5%, slightly lower than the 5% pace achieved last year.

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Thursday at 6.9124 compared to Wednesday’s fix of 6.9124 and close of 6.9551.

West Texas Intermediate (WTI) Oil price remains stronger for the third successive session, trading around $74.80 per barrel during the Asian hours on Thursday. Crude Oil prices climb as supply disruptions persist amid ongoing Middle East war.

Australia Trade Balance (MoM) came in at 2631M, below expectations (3900M) in January

Australia Imports (MoM) increased to 0.8% in January from previous -0.8%

Australia Exports (MoM): -0.9% (January) vs previous 1%

Japan Foreign Investment in Japan Stocks climbed from previous ¥402B to ¥973.9B in February 27

DBS Group Research economists Radhika Rao and Chua Han Teng argue that Indonesia’s growth outlook remains intact despite Middle East tensions. They highlight negligible trade exposure to Iran, diversified links with Gulf economies and net commodity exporter status.

The Australian Bureau of Statistics will publish its data for December on Thursday at 00.30 GMT. Australia’s Trade Surplus is expected to widen to 3,900M MoM in January, compared to 3,373M in December.Trade Balance gives an early indication of the net export performance.

South Korea FX Reserves rose from previous 425.91B to 427.62B in February