South Africa Private Sector Credit declined to 8.5% in March from previous 10.5%.South Africa Private Sector Credit declined to 8.5% in March from previous 10.5%

German Retail Sales fall by 2.0% MoM in March vs. -0.1% expected.German Retail Sales fall by 2.0% MoM in March vs. -0.1% expected

Rupee's slide to record low puts RBI back on the defensive.The Indian rupee fell to a record low on Thursday, as ​investors fretted over the economic risks ​confronting India from a resurgence in crude oil prices to 2022 highs, ​threatening the inflation-economic growth balance for the net energy importer and sapping capital flows.

BOJ sees inflation moving around 3% in risk scenario.The Bank of Japan saw core ​inflation hovering around 3%, well above its 2% ‌target, for two years in a row under a risk scenario released on Thursday that assumed elevated oil ​prices and a weakening yen.

GBP/JPY holds steady near its highest level since January 2008, above 216.00 ahead of BoE.GBP/JPY holds steady near its highest level since January 2008, above 216.00 ahead of BoE

Strong Big Tech Earnings Overshadowed by Oil Price Spike.We had a busy after-hours news flow, with Meta Platforms, Microsoft, Amazon and Alphabet reporting their Q1 earnings after the bell. The results were overall solid—except for Meta.

AUD/JPY Price Forecast: Drifts higher above 114.00, bullish bias prevails.AUD/JPY Price Forecast: Drifts higher above 114.00, bullish bias prevails

Why smart money is betting against the pound right now.The pound is struggling to build on its recent gains as a toxic combination of political scandal, an energy-driven inflation shock and looming local elections keeps sterling markets on tenterhooks. The traders are betting that the next week could prove decisive for both the currency and Prime Minister Keir Starmer's political future.

EUR/JPY holds losses near 187.00 ahead of ECB policy decision.EUR/JPY holds losses near 187.00 ahead of ECB policy decision

Oil Price Forecast: Hormuz Crisis Keeps Brent and WTI in Breakout Mode.Oil prices extended their rally as the Hormuz crisis, Iranian port blockade, and Middle East conflict kept supply risks high, while Brent and WTI remained in breakout mode despite a possible OPEC+ output increase.

Morning Bid: Central bank hawks spook bonds, tech untroubled.A look at the day ahead in European and global markets from Stella Qiu

Japan reportedly mulls bringing back energy subsidies this summer.The report says that the government is considering to revive subsidies for electricity and natural gas in the summer months this year. It is likely that said subsidies will cover usage from July through to September, with a budget that could reach around ¥500 billion.

Japanese Yen flat lines after Fed holds rates, Japan warns on speculative moves.Japanese Yen flat lines after Fed holds rates, Japan warns on speculative moves

Rupee hits record low, pummelled by oil surge, Fed's hawkish tilt.The Indian rupee fell to a record low on ​Thursday, as investors remained wary of ‌the risks confronting India due to stubbornly high energy prices, while a ​hawkish tilt at the U.S. ​Federal Reserve compounded the pressure.

'Peak pound' may be over as multiple risks mount for UK markets.The pound's recent strong run against other major currencies during the Iran war is losing steam, as a combination of political, economic and inflation risks mount for UK markets.

investingLive Asia-Pacific FX news wrap: Trump to be offered options to ramp up the war.It has been a busy session. The dominant headline is the Axios report that US CENTCOM will brief President Trump on Thursday on fresh military options against Iran, including a concentrated infrastructure strike, a potential ground operation to seize part of the Strait of Hormuz and a special forces mission to secure Iran's uranium stockpile.

China PMI Signals Modest Growth as Services Slip and Cost Pressures Build.China's official PMI data for April showed the economy maintaining modest expansion, but with a clear divergence between sectors. PMI Manufacturing edged down slightly from 50.4 to 50.3, staying in expansion for a second month.

WTI advances above $105.50 as Iranian ports' blockade deepens.WTI advances above $105.50 as Iranian ports' blockade deepens

China PMI data points to export resilience but soft domestic demand remains the weak spot.China's official manufacturing PMI held at 50.3 in April as export orders returned to growth for the first time since 2024, but the non-manufacturing PMI fell to a 40-month low of 49.4, exposing the weakness in domestic demand.

Pound Sterling flat lines vs USD as traders await BoE policy update and US PCE Price Index.Pound Sterling flat lines vs USD as traders await BoE policy update and US PCE Price Index

India's rupee defence faces tough test as capital flows stall.India's rupee faces sustained pressure as weak capital inflows and elevated oil prices strain the balance of payments. Despite RBI intervention, deficits are expected to widen for a third year, limiting policy flexibility.

Japan Industrial Output Falls -0.5% as Petrochemical Weakness Dominates.Japan's industrial production declined -0.5% mom in March, falling short of expectations for a 1.1% increase. The drop was broad-based, with output declining in 8 of 15 sectors.

NZ ANZ Business Confidence Slumps to -10.6, Inflation Expectations Highest Since Feb 2024.New Zealand business confidence deteriorated sharply in April, with ANZ's headline index plunging from 32.5 to -10.6, highlighting a rapid shift in sentiment amid rising cost pressures. Firms' own activity outlook also fell significantly from 39.3 to 19.6.

US Dollar Index holds steady after Fed hold, traders await US GDP and PCE data.US Dollar Index holds steady after Fed hold, traders await US GDP and PCE data

Rupee to encounter fresh strain as Fed's hawkish tilt compounds oil pain.The Indian rupee is set to encounter fresh headwinds on Thursday after hawkish signals from some Federal Reserve policymakers lifted the dollar and U.S. bond ​yields, compounding pressure from an unabated rise in oil prices.

Canadian Dollar receives support despite lower oil prices.Canadian Dollar receives support despite lower oil prices

Tech shares rise in Asia, bonds scarred by central bank hawks as oil spikes.AI-related shares fared well in Asia on Thursday after a raft of generally positive ‌earnings reports, while surging oil prices left bonds battered as central banks turned more hawkish on inflation and interest rates.

Dollar holds firm after Fed raises inflation alarm, yen slips past 160.The dollar strengthened as hawkish remarks from Federal Reserve policymakers pushed yields higher, leading traders to price out rate cuts this year. Meanwhile, the Japanese yen's sharp decline against the dollar intensified focus on potential intervention risks amid ongoing geopolitical tensions and oil price spikes.

China private PMI surges to 52.2 in April, strongest factory reading since late 2020.China's RatingDog manufacturing PMI rose to 52.2 in April from 50.8 in March, the strongest reading since late 2020, beating the 51.0 forecast, as output and new orders surged and input costs hit a four-year high.

China's RatingDog Manufacturing PMI climbs to 52.2 in April vs. 51.0 expected.China's RatingDog Manufacturing PMI climbs to 52.2 in April vs. 51.0 expected