Commerzbank’s Michael Pfister argues Canada’s recent economic improvement is not solely driven by higher Oil and gas prices linked to the Iran conflict.

EUR/CAD halts its six-day losing streak, trading around 1.6080 during the European hours on Thursday. The currency cross gains ground as the Euro (EUR) receives support as the macroeconomic picture in the Eurozone continues to support the European Central Bank's (ECB) hawkish stance.

Michael Wan at MUFG reports that India’s July Consumer Price Index (CPI) rose to 4.45% year-on-year, slightly below consensus but above June’s 4.38%, driven mainly by higher food prices.

OCBC’s Sim Moh Siong and Christopher Wong highlight that the Swiss Franc (CHF) has weakened toward their year-end EUR/CHF target of 0.94, making it a preferred funding currency for carry trades.

Francesco Pesole at ING sees some downside risks for the Norwegian Krone from Norges Bank’s meeting, as benign CPI‑ATE prints could tilt communication slightly less hawkish. He still expects rates to stay at 4.25% today and another hike later this year, but is less convinced about multiple moves.

Commerzbank’s Tatha Ghose reports Russia’s June merchandise trade surplus rose to USD 12.5bn, up over 50% year-on-year, as higher Oil prices and improved Urals pricing supported exports.

USD/IDR gains ground for the third consecutive day, trading around 17,920 during the early European hours on Thursday. The pair appreciates as the US Dollar (USD) recovers its daily losses amid escalating geopolitical tensions between the US and Iran.

Deutsche Bank strategists highlight that the S&P 500 closed just below its record high as US CPI data reduced urgency for further Federal Reserve hikes. Front-end Treasuries rallied and semiconductor strength supported equities, while volatility fell to its lowest level since January.

Asian stocks mostly remain stronger, bolstered by softer US inflation data that reinforced expectations for a more accommodative Federal Reserve (Fed) policy. US headline CPI rose 3.4% year-over-year in July, down slightly from 3.5% in the previous month.

New Zealand's (NZ) inflation expectations ease on a two-year frame in the third quarter of 2026, the Reserve Bank of New Zealand’s (RBNZ) latest monetary conditions survey showed on Wednesday.

The GBP/USD pair edges slightly higher to near 1.3500 during the early Asian trading hours on Thursday. The US Dollar (USD) softens against the British Pound (GBP) on a tame reading of the US inflation report.

Singapore Gross Domestic Product (QoQ) climbed from previous 1.1% to 1.4% in 2Q

Reserve Bank of Australia (RBA) Assistant Governor Chris Kent  said on Thursday that interest rate hikes are producing the expected effect. Kent added that further rate increases possible if risks emerge.

Singapore Gross Domestic Product (YoY): 5.9% (2Q) vs 5.7%

The United States (US) and Iran remain at ​loggerheads over efforts to agree a permanent end to the war in the Middle East, Reuters reported on Wednesday.

DBS Group Research’s Radhika Rao reports that Indonesia’s onshore markets welcomed President Prabowo’s nomination of Deputy Governor Destry Damayanti as the next Bank Indonesia Governor.

UOB’s Quek Ser Leang and Lee Sue Ann note that USD/SGD closed little changed around 1.2800, with the S$NEER trading 1.7% above its mid-point and implying a 1.2760–1.2822 range.

BNY’s Geoff Yu notes that a less hawkish Fed has weakened the Dollar but failed to spark a sustained bid in commodity FX such as Norwegian Krone (NOK), Australian Dollar (AUD) and Emerging Markets (EM) currencies Chilean Peso (CLP), South African Rand (ZAR) and Brazilian Real (BRL).

The US Dollar (USD) has extended its recovery on Wednesday following a Consumer Price Index (CPI) report that printed in line with forecasts. The US Dollar Index (DXY) has pushed back above the 100.00 mark, and the bid has broadened out against most majors heading into a data-heavy Thursday.

Commerzbank analysts highlight that Singapore’s final Q2 GDP was revised up, lifting H1 growth to 6.1% year-on-year and prompting MTI to raise its 2026 GDP forecast to 4.5–5.5%.

BNY’s Geoff Yu reports that sovereign bonds from commodity-based EM economies have seen accelerated selling after the Fed decision, despite a weaker Dollar and lower U.S. real yields.

Scotiabank strategists Shaun Osborne and Eric Theoret report the British Pound (GBP) is posting fractional gains versus the US Dollar (USD) and outperforming G10 peers as improving sentiment supports price action.

Rabobank's Senior FX Strategist Jane Foley reviews recent United Kingdom (UK) data against Eurozone performance. Foley notes Eurozone Q2 Gross Domestic Product (GDP) at 0.4% q/q and a 0.7% UK upturn in the three months to May.

TradingKey — Dados divulgados pelo Departamento de Estatísticas do Trabalho dos EUA na quarta-feira mostraram que o Índice de Preços ao Consumidor (CPI) do país subiu 0,1% na comparação mensal em julh

United States Consumer Price Index Core s.a increased to 336.789 in July from previous 336.065

United States Consumer Price Index n.s.a (MoM) below forecasts (333.99) in July: Actual (333.92)

United States Consumer Price Index ex Food & Energy (MoM) in line with expectations (0.2%) in July

TD Securities strategists expect United Kingdom (UK) June Gross Domestic Product (GDP) data to show a reversal of May’s strength in professional services, offsetting solid retail sales and leaving the Index of Services flat, with modest industrial weakness keeping monthly GDP at 0.0% m/m.

According to a senior Iranian source, there are no discussions about extending the ceasefire between Iran and the US, Reuters reported.

United States MBA Mortgage Applications up to 3.6% in August 7 from previous -2.9%