Silver (XAG/USD) extends its bearish move on Thursday and trades around $63.00, down 0.58% on the day at the time of writing.

Royal Bank of Canada (RBC) economist Claire Fan notes that Canada’s Gross Domestic Product (GDP) contracted in Q1, but measures of excess slack such as the unemployment rate still align with prior tracking. Fan keeps its growth outlook unchanged, instead lowering potential GDP estimates.

Russia Central Bank Reserves $ climbed from previous $748.7B to $749.7B

Russia Foreign Trade dipped from previous $13.966B to $11.431B in April

Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to raise key rates by 25 basis points at the June policy meeting and responds to questions from the press.

ING’s Warren Patterson notes that weaker Chinese crude imports and strong US exports have temporarily eased pressure on Oil, but he stresses these supports are not sustainable. China’s May 2026 crude imports fell sharply, while higher US exports are being drawn from inventories.

Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to raise key rates by 25 basis points at the June policy meeting and responds to questions from the press.

Nomura’s European economics team expects the SNB to keep emphasising an elevated willingness to intervene in FX markets, despite recent CHF depreciation against EUR.

Producer inflation in the United States (US) as measured by the change in the Producer Price Index (PPI), climbed to its highest level since November 2022 at 6.5% in May, from 5.7% in April, the US Bureau of Labor Statistics reported on Thursday.

Gold (XAU/USD) slides to a six-month low on Thursday, wiping out all the gains recorded this year as a combination of hawkish central bank expectations and technical selling keeps buyers on the sidelines.

United States Continuing Jobless Claims came in at 1.795M, above expectations (1.78M) in May 29

Germany Current Account n.s.a. down to €13.8B in April from previous €23.6B

United States Producer Price Index ex Food & Energy (MoM) registered at 0.4%, below expectations (0.5%) in May

United States Producer Price Index ex Food & Energy (YoY) registered at 4.9%, below expectations (5.4%) in May

United States Producer Price Index (MoM) came in at 1.1%, above expectations (0.7%) in May

United States Producer Price Index (YoY) came in at 6.5%, above expectations (6.4%) in May

United States Initial Jobless Claims above expectations (219K) in June 5: Actual (229K)

United States Initial Jobless Claims 4-week average rose from previous 214.75K to 219K in June 5

Canada Building Permits (MoM) came in at -7.6% below forecasts (-3.5%) in April

Brown Brothers Harriman’s (BBH) Elias Haddad notes USD/JPY is trading tightly around 160.50, just below its late-April pre-intervention high, with a 25 bps Bank of Japan (BoJ) rate hike to 1.00% already fully priced.

"The United States will be hitting Iran (Whose Navy, Air Force, Radar, Anti Aircraft, and all other forms of Defense, together with most of its offensive capability, are GONE!), VERY HARD TONIGHT," US President Donald Trump posted on Truth Social on Thursday and added:

Eurozone ECB Rate On Deposit Facility in line with expectations (2.25%)

Eurozone ECB Main Refinancing Operations Rate meets expectations (2.4%)

Societe Generale strategists report that recent RBI steps to attract foreign portfolio investors are already easing Indian bond yields, with the five‑year segment outperforming.

Mexico Industrial Output (YoY) above expectations (-0.8%) in April: Actual (2.3%)

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann maintain a negative stance on AUD/USD after the pair closed below 0.7000, though downside momentum is still described as modest. Intraday, they look for further slippage but doubts a clean break of 0.6975.

West Texas Intermediate (WTI), futures on NYMEX, trade almost 3% lower to near $87.60 during the European trading session on Thursday.

ING’s Carsten Brzeski argues that the European Central Bank is being guided by its 2022 inflation experience rather than current data, with headline Eurozone inflation still moderate and survey-based expectations easing.

The Euro (EUR) has given away previous gains against the US Dollar (USD) on Thursday and is trading at 1.1535 at the time of writing, practically unchanged in daily charts with the two-month lows, near 1.1500, at hand.

The Global Strategy Team at TD Securities reports that the Bank of Canada left rates unchanged at 2.25% and maintained a balanced tone. They expect the Bank to hold policy through 2026, with the next hike projected for early 2027.