Forex Today: US Dollar firms ahead of NFP, Oil surges amid Middle East war

The US Dollar (USD) is being supported by crude oil prices, which rose to its highest level since July 2024, amid headlines of potential interruptions to the Strait of Hormuz and attacks on vessels in the region.

WTI Crude Oil tests north of $80 for the first time since mid-2024

WTI surged over 6% on Thursday, blowing through $80 per barrel for the first time since June 2024 and extending one of the sharpest rallies in recent years.

China: Growth target softening and policy mix – ING

ING’s Chief Economist for Greater China, Lynn Song, notes that China has lowered its 2026 GDP growth target to 4.5–5.0% after three years of “around 5%”, signalling tolerance for slightly slower expansion while keeping long-term ambitions intact.

USD/CHF edges higher as SNB intervention rhetoric caps Franc gains

USD/CHF rose about 0.44% on Thursday, pushing back above 0.7830 in a session that extended the recovery from last week's lows near the 0.7700 area.

Indonesia: Rating outlook risks weigh on markets – DBS

DBS Group Research economist Radhika Rao discusses Fitch Ratings’ decision to cut Indonesia’s sovereign rating outlook to negative while affirming the BBB rating, following a similar move by Moody’s.