The latest Market Talks covering FX and Fixed Income. Published exclusively on Dow Jones Newswires throughout the day.
2059 ET - The Australian dollar's "ceiling" is likely around $0.7100-$0.7150 for next 1-2 weeks, Westpac's Richard Franulovich says in a research report. "Levels above that require confirmation we do not have," the head of FX Strategy says. Confirmation is needed that the Strait of Hormuz is "genuinely and fully open" and that the two-week U.S.-Iran cease-fire leads to a "durable agreement, rather than another round of brinkmanship," he says. Given "contradictory narratives" regarding the cease-fire and technical limitations language on passage through the Strait, this confirmation is not imminent, Franulovich adds. The Australian dollar edges 0.1% lower to $0.7035, LSEG data show. (ronnie.harui@wsj.com)
2057 ET - The dollar is expected to trade in the range of 158.00-159.30 yen during Thursday's session, says Sony Financial Group analyst Juntaro Morimoto. "Skepticism remains over the effectiveness of the cease-fire agreement, leaving the market wary. Any headlines suggesting continued combat could easily trigger another round of dollar buying," Morimoto says. Investors are also awaiting the coming U.S. data to gauge inflationary conditions and assess how the U.S. economy is performing. The dollar was last trading at 158.73 yen. (megumi.fujikawa@wsj.com)
2033 ET - Asian currencies consolidate against the dollar in early trade amid a fragile U.S.-Iran cease-fire. Israel hit Beirut and parts of southern Lebanon with new airstrikes on Wednesday. Meanwhile, oil-tanker traffic has been halted as of Wednesday evening, following Israel's attacks on Lebanon, according to Iran's semiofficial Fars News Agency. "Ongoing disagreements over the scope of the cease-fire, reports Iran has closed the Strait of Hormuz, and conflicting U.S.-Iran peace plans highlight the risk of renewed escalation and persistent supply‑chain disruption," says Skye Masters, head of Markets Research at NAB, in commentary. Dollar edges 0.1% higher to 158.71 yen and is up 0.1% at 1,480.20 won, LSEG data show. (ronnie.harui@wsj.com)
2030 ET - The Bank of Korea is expected to hold its base rate at 2.50% for a seventh straight meeting. All 27 analysts polled by The Wall Street Journal forecast no rate change at Friday's policy meeting. Policymakers are likely to maintain a cautious wait-and-see stance given the leadership transition at the BOK and the ongoing Middle East uncertainty, despite a recent U.S.-Iran cease-fire. Shipping through the Strait of Hormuz remains limited, with disruption to the key energy corridor weighing on growth while adding to inflation risks. Outgoing Gov. Rhee Chang-yong is likely to keep options open to give incoming Gov. Shin Hyun-song flexibility ahead of his first rate-setting meeting in May, Barclays economist Bum Ki Son says. (kwanwoo.jun@wsj.com)
2026 ET - Japan's Nikkei Stock Average is flat at 56315.14 as gains in shipping and energy stocks help offset losses in electronics and metal shares. Nippon Yusen is up 2.4%, and Idemitsu Kosan is 1.4% higher, while Panasonic Holdings is down 1.3% and Mitsui Kinzoku is 2.1% lower. The dollar is at 158.65 yen, compared with Y158.09 as of Wednesday's Tokyo stock market close. Investors are focusing on any progress in peace talks in the Middle East and any Japanese government measures to help businesses secure energy and petrochemical products. (kosaku.narioka@wsj.com; @kosakunarioka)
2014 ET - JGB futures edge lower in the early Tokyo session on a possible technical correction after strong JGB price gains on Wednesday in the wake of the U.S.-Iran cease-fire. Investors' focus could be on Japanese Finance Ministry's auction today of about 2.5 trillion yen of five-year sovereign notes. "With 5-year [sector] now looking cheap vs. surrounding maturities, we expect the auction to draw a certain degree of demand," SMBC Nikko Securities' Lisa Mochizuki says in a research report. "We expect the result to come in on the strong side," the junior analyst adds. Benchmark 10-year JGB futures are 0.14 yen lower at 130.23 yen.(ronnie.harui@wsj.com)
1951 ET - Japanese stocks may rise as hopes for the U.S.-Iran talks to end the war continue following a conditional cease-fire. Nikkei futures are up 0.6% at 56705 on the SGX. The dollar is at 158.67 yen, compared with Y158.09 as of Wednesday's Tokyo stock market close. Investors are focusing on any progress in peace talks in the Middle East and any Japanese government measures to help businesses secure energy and petrochemical products. The Nikkei Stock Average rose 5.4% to 56308.42 on Wednesday. (kosaku.narioka@wsj.com)
1856 ET - Ramelius Resources may downgrade guidance for FY 2026 all-in sustaining costs when fleshing out its 3Q performance on April 29, Shaw & Partners says. Ramelius's preliminary update pointed to gold output of 38,100 oz, representing another sequential drop. Ramelius is targeting AISC of A$1,700-A$1,900/oz in FY 2026. "The lower gold production in 3Q suggests unit AISC could be higher than 1Q/2Q," analyst Alex Barkley says. Ramelius has also faced rising diesel costs. Shaw cuts its FY26 production forecast to 194,000 oz from 201,000 oz. It increases its FY26 AISC forecast to A$1,960/oz, from A$1,825/oz. Still, Shaw notes consensus forecasts already anticipate a miss. "This could limit any potential market weakness on the softer Q3, and incrementally negative FY26 guidance commentary," Shaw says. (david.winning@wsj.com; @dwinningWSJ)
1845 ET - Constellation Brands says particularly subdued demand among Hispanic consumers continued to hurt its results in the latest quarter. Trends at retailers located in zip codes with larger Hispanic populations weighed on overall portfolio performance, the beer and wine importer says, though the impact moderated as the quarter went on as the rate of decline in those areas improved. More general market zip codes continued to outperform on a relative basis, the company says. Constellation has previously noted that Hispanic consumers are being more careful with their spending, prioritizing essentials ahead of more discretionary categories. Hispanic spending has also been volatile state by state, depending on shifts in immigration policy enforcement, the company said earlier this year. (kelly.cloonan@wsj.com)
1817 ET - Applied Digital says AI hyperscalers are continuing to be aggressive about buying data center and computing space. There are multiple hyperscalers at each of Applied Digital's locations that are showing interest, management tells investors on a call Wednesday. Executives say they are prioritizing customer diversification, however, which is why they aren't signing contracts with every hyperscaler that shows interest. Applied Digital's $16 billion in total contracted revenue is split between $11 billion with CoreWeave and $5 billion with an investment-grade hyperscaler that remains undisclosed. The company is aiming to get to 70% in investment-grade contract revenue, executives say. Shares fall 4% in after-hours trading. (katherine.hamilton@wsj.com)
1604 ET - Treasury yields pare down early declines but settle below Tuesday's levels in the first day of a U.S.-Iran cease-fire. Crude prices see their largest one-day fall since 2020, but remain above pre-war levels. Fed minutes show concerns about inflation. A 10-year Treasury auction attracts average demand. February PCE inflation is expected to keep January's 2.8% pace, in a WSJ consensus. Weekly jobless claims are forecast to increase to 210,000 from 202,000. March CPI, due Friday, is seen accelerating to 3.3% from 2.4%. The 10-year yield falls 0.052 percentage point, to 4.290%, and the two-year sheds 0.040 p.p., to 3.792%. (paulo.trevisani@wsj.com; @ptrevisani)
1516 ET - Lean hog futures on the CME settled down 0.7% to 90.175 cents a pound Wednesday, with the most-active contract taking its cue from the movement in pork cutout prices. The average carcass cutout price fell to $97.82 per hundredweight yesterday afternoon, according to USDA data. The slide comes now that Easter has passed, with the holiday seen as a demand driver for pork. But right around the corner is the so-called "grilling season," when Americans are more likely to go outside to grill meat. This is typically the period between Memorial Day in May and Labor Day in September. Most-active live cattle futures settled up 0.3% to a record $2.48975 per pound. (kirk.maltais@wsj.com)
(END) Dow Jones Newswires
April 08, 2026 20:59 ET (00:59 GMT)
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