Here is what you need to know on Thursday, April 9:

Austria Trade Balance increased to €-66.7M in January from previous €-1301M

Spain Industrial Output Cal Adjusted (YoY) below forecasts (1.5%) in February: Actual (-1.1%)

Commerzbank’s Antje Praefcke argues that the Iran ceasefire is fragile and warns against expecting Oil prices to quickly return to pre-war levels. She notes that US inflation data, including CPI and the PCE index, are likely to reflect higher energy costs over time.

Danske Research Team highlights a sharp global equities rally after the Iran ceasefire headlines, with benchmarks now just about 2% below record highs. Cyclicals and semiconductors led gains, while energy and minimum volatility lagged.

Germany’s industrial sector activity fell sharply in February, the latest data published by Destatis showed on Thursday.

Germany Industrial Production n.s.a. w.d.a. (YoY) up to 0% in February from previous -1.2%

South Africa Net $Gold & Forex Reserve fell from previous $75.835B to $73.187B in March

South Africa Gross $Gold & Forex Reserve fell from previous $81.06B to $77.76B in March

Germany Trade Balance s.a. came in at €19.8B, above expectations (€18.5B) in February

Germany Imports (MoM) came in at 4.7%, above expectations (4%) in February

Germany Exports (MoM) above forecasts (1%) in February: Actual (3.6%)

Germany Industrial Production s.a. (MoM) below expectations (0.9%) in February: Actual (-0.3%)

Iranian ambassador Reza Amiri Moghadam confirms, through a tweet on X during early European trading hours on Thursday, that a team is scheduled to visit Pakistan at night for the first round of talks on the 10-point proposal plan with the United States (US).

Most Asian equities trade in negative territory on Thursday as traders remain cautious about whether a fragile two-week ceasefire between the United States and ‌Iran would hold.

Japan Consumer Confidence Index came in at 33.3 below forecasts (38) in March

Bank of Japan (BoJ) Governor Kazuo Ueda said that real interest rates are clearly negative and keeping the country's financial conditions accommodative, Reuters reported on Thursday.

Netherlands, The Consumer Price Index n.s.a (YoY) meets forecasts (2.7%) in March

Netherlands, The Consumer Spending Volume declined to -0.5% in February from previous 0%

Reserve Bank of New Zealand (RBNZ) Governor Anna Breman said that domestic economy could see stronger growth this year if there was a swift resolution to the conflict in the Middle East, Reuters reported on Thursday. She added that the previous rate cuts were still providing some stimulus.

Hezbollah said that it fired rockets toward northern Israel in response to “ceasefire violations” committed by the Israeli army, Reuters reported on Thursday.

Japan Foreign Investment in Japan Stocks: ¥2B (April 3) vs ¥-4B

Sporadic fighting continued in the Middle East, including in Lebanon, killing hundreds of people and drawing a threat of retaliation from Iran, Reuters reported on Thursday.

United Kingdom RICS Housing Price Balance below forecasts (-18%) in March: Actual (-23%)

MUFG’s Senior Currency Analyst Lloyd Chan argues Singapore’s energy system and fiscal strength materially limit near‑term tail risks from Middle East tensions.

The US Dollar Index (DXY) holds firm near 99.10, supported by safe-haven demand late in the American session with expectations that the Federal Reserve (Fed) will remain cautious on easing.

BNP Paribas analysts assess that in the United States (USD), demand remains the main driver of inflation, though its contribution has eased from post‑Covid peaks.

Wells Fargo economists now expect the Federal Reserve (Fed) to delay easing in response to higher Oil prices and stickier inflation.

United States 10-Year Note Auction climbed from previous 4.217% to 4.282%

ING economists Peter Virovacz and Zoltán Homolya note that Hungarian inflation in March 2026 surprised on the downside versus expectations but remained above February’s decade low.