Dollar index (Dxy00) On Thursday, +0.07%increased. The dollar increased slightly on Thursday after US Q1 Nonform Productivity. In addition, on Thursday, high T-Note yields were favorable for dollars. Furthermore, Hawkish comments of Chicago Fed President Gulasbi supported the dollar when he said that fiscal policy could be reduced by uncertainty.

Limiting profit in dollars was a large-to-the-to-approved growth in weekly American unemployed claims, a factor for Fed Policy. In addition, the strength in the yen was weighed on the dollar as Yen ralled at a high level of 1-3/4 months on Thursday.

The US weekly initial unemployment claims increased to +11,000 to 219,000, showing weak labor market compared to expectations of 213,000.

US Q4 Nonform Productivity Increased +1.2%, correct on expectations. Q4 unit labor costs +3.0%, +3.4%weaker than expectations.

Chicago Fed President Gulasbi said that he hopes that some fed interest rates would be cut in the next 18 months, but fiscal policy may be reduced by uncertainty.

Markets are giving exemption to 16% possibility for cutting -25 BP rate cuts at the next FOMC meeting on 18-19 March.

EUR/USD (^Eurusd) Thursday -0.13%fell. On Thursday, the strength in the dollar was weighed at the euro. In addition, Thursday outlines the Euro, a weak-to-first eurosone DEC Retail Sales report. In addition, the dovish comments from Cipollone, a member of the ECB Executive Board, underlined the Euro on Thursday when he said that the ECB still has space to cut interest rates. The greatest enlargement of Thursday in the orders of the German DEC factory supported the euro.

Eurozone DEC retail sales fell -0.2% m/m, which was weaker than the expectations of -0.1% m/m.

The German Dec Factory Orders +2.0% M/M increased stronger +6.9% m/m.

German Jan S&P construction PMI +4.7 increased to 1-1/2 years high 42.5.

Sipolone, a member of the ECB Executive Board, said, “We all agree that the convergence with the inflation target is still consistent with a decreasing interest rate path,” said Sipolone said Sipolone.

In the March 6 policy meeting, Swaps are offering discounts at 100% for cutting -25 BP rate cut by ECB.

USD/JPY (^Usdjpy) Thursday -0.79%declined. Yen has shifted higher every day this week and has posted 1-3/4 months high against the dollar on Thursday. Yen ralled on Thursday on the Hawkish comments of Tamura and former BOJ Governor Kuroda, a member of the Boj Board, who expressed his support for the additional BOJ interest rate hike.

Former BOJ Governor Kuroda said that Japan has abolished “completely” deflation, and it is absolutely natural for BOJ to move forward with a rate hike to normalize the policy.

The BOJ board member Tamura said, “The short -term interest rate should be at 1.0% level up to the second part of Finance 2025,” to keep the opposite risk for prices from 0.5% and to achieve the price stability target.

April Gold (Gcj25) Thursday -16.30 (-0.56%), and March Silver (SIH25) The bottom -0.350 (-1.06%) closed down. Precious metals posted moderate losses on Thursday. Thursday’s strong dollars and high T-not-rote yields were recession for metals. Chicago Fed President Gulasbi said that fiscal policy could be reduced by uncertainty. In addition, BOJ board member Tamura said that he supports the additional rate hike by BOJ. Silver prices came under pressure after BOE cut its UK 2025 GDP forecast, a negative factor for demanding industrial metals.

Damage in precious metals -On Thursday, after cutting the interest rates of BOE by 25 BP was limited, which promoted the demand for precious metals in the form of value reserves. In addition, the Dovish comments of Cipollone, a member of the ECB Executive Board, were rapid for precious metals, when he said that ECB still has space to cut interest rates. Safe-heaven demand for precious metals remains firm due to American-China trade tension, as China retaliated for American tariffs by putting tariffs on American goods.

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