On Thursday, the US stock indices corrected downward after recently updating record highs. By the end of the day, the Dow Jones (US30) fell by 0.63%. The S&P 500 (US500) declined by 0.38%. The Technology Index Nasdaq (US100) closed lower by 0.13%. Amid overall caution, the technology sector came under pressure: shares of Amazon and several major chipmakers declined after strong previous gains.

The Canadian dollar (CAD) weakened against the US currency, retreating from recent multi‑week highs amid expectations of a more dovish policy from the Bank of Canada and falling oil prices. Additional pressure on the Canadian currency came from weak economic data. The latest GDP statistics indicated a slowdown in economic growth after the start of the conflict in the Middle East, which strengthened expectations of a more cautious stance from the central bank.

The Bank of Mexico (Banxico) cut the key interest rate by 25 basis points to 6.50%. This is the lowest level since April 2022. The decision, made by a majority vote (3 to 2), appears to mark the end of the monetary‑policy easing cycle that began in March 2024. The main reason for the cut was the contraction of the Mexican economy in the first quarter of 2026. The regulator noted that the slowdown in business activity led to increased idle capacity and, as a result, weakened demand‑driven inflationary pressure. At the same time, the central bank made it clear that the rate‑cutting period is over: amid global geopolitical instability and trade disputes, keeping the rate at 6.50% in the foreseeable future is considered the most appropriate step.

By the end of the day, Germany’s DAX (DE40) fell by 0.63%, France’s CAC 40 (FR40) closed down by 1.17%, Spain’s IBEX 35 (ES35) declined by 0.25%, and the UK’s FTSE 100 (UK100) ended the trading session down by 1.55%.

The Central Bank of Norway (Norges Bank) unexpectedly raised the key rate by 25 basis points to 4.25%, although the market mostly expected it to remain unchanged. The regulator explained the decision by stating that inflation remains too high and may stay elevated longer due to ongoing tensions in the Middle East. The bank emphasized that tightening policy is necessary to bring inflation back to target within a reasonable timeframe. According to officials, a prolonged period of high prices could anchor inflation expectations among businesses and households, complicating future efforts to control price growth.

Sweden’s Riksbank kept the key rate unchanged at 1.75% for the fifth consecutive time, in line with market expectations. The regulator noted that the current rate level allows for flexible responses to further changes in the economic situation and, if necessary, adjustments to monetary policy to achieve the inflation target. Central bank representatives indicated that risks of accelerating inflation due to the Middle East conflict have increased, but actual price growth remains below target, and recent economic data came in weaker than the March expectations.

On Thursday, WTI oil prices partially recovered after a sharp decline to around $96 per barrel, as markets continued to assess the prospects of supply restoration from Gulf countries. Optimistic statements by Donald Trump about possible progress in negotiations earlier triggered a noticeable drop in oil prices. However, downward pressure on prices remained limited, as market participants doubt a quick recovery of global supply. Another factor is the caution of insurance companies regarding tankers passing through the region after recent attacks. Against this backdrop, supply disruptions have already led to a significant reduction in fuel inventories in the US, where gasoline and distillate reserves have been declining for several weeks in a row.

The US natural gas prices (XNG) rose more than 2%, approaching $2.79 per MMBtu, after storage data showed a weaker‑than‑expected increase. The volume of gas injected into storage came in below both analyst projections and last year’s levels, as well as below multi‑year averages. The market is also factoring in seasonal cooling‑demand growth, which is gradually beginning to outweigh heating needs.

In Asia, Japan’s Nikkei 225 (JP225) surged by 5.58% after a long banking holiday, China’s FTSE China A50 closed slightly higher by 0.04%, Hong Kong’s Hang Seng (HK50) rose by 1.57%, and Australia’s ASX 200 (AU200) jumped by 0.96%.