Switzerland Producer and Import Prices (MoM) registered at 0.1%, below expectations (0.2%) in February
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Editors’ Picks
EUR/USD drops below 1.0900 on renewed USD strength
EUR/USD came under renewed bearish pressure and dropped below 1.0900 in the American session on Thursday. The bearish action in Wall Street following the mixed macroeconomic data releases from the US helps the US Dollar gather strength and weighs on the pair.
GBP/USD comes under pressure and breaks below 1.2750
GBP/USD accelerates its losses and drops to two-day lows in the sub-1.2750 region on the back of further pick-up in the USD, particularly exacerbated after higher-than-estimated US Producer Prices in February. The cautious market mood further supports the USD.
Gold drops below $2,160 as US yields stretch higher
Gold lost its traction and declined below $2,160 in the American session on Thursday. The benchmark 10-year US Treasury bond yield is up more than 2% on the day near 4.3% after producer inflation and Retail Sales data from the US, causing XAU/USD to stretch lower.
ECB provides itself with more flexibility
The ECB has completed the review of the operational framework for implementing monetary policy announced at the end of 2022 and publicized a number of changes, but also the retention of some parameters.
