EUR/USD stays under marked downside pressure, falling for a fourth consecutive session and slipping back to the 1.1430 area, fresh yearly lows. At the same time, the US Dollar continues to advance to fresh highs as investors remain cautious amid the … [Continue reading]
Asian FX: Energy shock risks weigh on outlook – MUFG
MUFG analysts Lin Li, Michael Wan, Lloyd Chan and Khang Sek Lee highlight that Asian currencies and rates are vulnerable as the Iran conflict threatens Oil supply via the Strait of Hormuz. They stress Asia’s heavy dependence on Middle East energy … [Continue reading]
United States Michigan Consumer Sentiment Index registered at 55.5 above expectations (55) in March
EUR/USD keeps the offered stance well in place, down for the fourth consecutive day and trading near 1.1470 following the release of US PCE data. The US Dollar, in the meantime, trades in fresh highs as investors remain cautious in light of unabated … [Continue reading]
Canada Unemployment Rate set to rise in February, challenging BoC policy path
Statistics Canada will release its Labour Force Survey on Friday, and market participants expect a modest uptick in job creation in February, with the Employment Change foreseen at 10K following the -24.8K in the previous month. At the same time, the … [Continue reading]
USD/CHF advances to 0.7870, eyes monthly top as inflation worries lift USD ahead of US PCE
The USD/CHF pair prolongs its uptrend for the fourth straight day and climbs to the 0.7870 region, back closer to the monthly peak during the Asian session on Friday. Spot prices remain on track to register gains for the second consecutive week as … [Continue reading]
WTI climbs above $95.50 as Iran says the Strait of Hormuz must remain closed
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $95.75 during the early Asian trading hours on Friday. The WTI price surges due to the effective closure of the Strait of Hormuz amid conflict … [Continue reading]
Israel Prime Minister Netanyahu: We are changing the Middle East
Israeli Prime Minister Benjamin Netanyahu held his first press conference on Thursday since the war with Iran started and said that they are aiming to stop Iran from moving nuclear and ballistic projects underground, and changing the Middle East.We … [Continue reading]
USD/CAD rises as US Dollar gains on geopolitical tensions and Fed repricing
The Canadian Dollar (CAD) edges lower against the US Dollar (USD) on Thursday, pressured by sustained demand for the Greenback amid the ongoing US-Iran war. At the time of writing, USD/CAD is trading around 1.3621, extending its rebound after falling … [Continue reading]
Ireland HICP (YoY) came in at 2.5%, above forecasts (2.4%) in February
Gold erases its intraday losses and trades flat on the day slightly below $5,200 in the European session on Thursday. A further escalation of the military conflict between Israel, US forces, and Iran keeps geopolitical risks in play, … [Continue reading]
RBA: March hike back in focus – Standard Chartered
Standard Chartered strategist Nicholas Chia now expects the Reserve Bank of Australia to raise the cash rate to 4.10% at the 17 March meeting, reversing a prior call for a hold. The bank still anticipates another hike in Q2, lifting its terminal rate … [Continue reading]