EUR/CAD gains ground as the Euro (EUR) receives support from the hawkish tone of the European Central Bank (ECB). The currency cross is trading around 1.6100 during the European hours on Tuesday.
Silver prices (XAG/USD) rose on Tuesday, according to FXStreet data. Silver trades at $72.88 per troy ounce, up 0.12% from the $72.79 it cost on Monday.
DBS Group Research’s Philip Wee expects the Reserve Bank of New Zealand to keep policy on hold at its April 8 meeting, looking through energy-driven inflation. He notes Governor Anna Breman’s conditional hawkishness if inflation expectations de-anchor.
Singapore Foreign Reserves (MoM) climbed from previous 416.1B to 419.2B in March
ING analysts Ewa Manthey and Warren Patterson highlight that central banks have resumed strong Gold buying, with February net purchases led by Poland and continued accumulation by China, Czech Republic and others.
Spain 6-Month Letras Auction up to 2.362% from previous 2.059%
Commerzbank’s Chief Economist Dr. Jörg Krämer argues that the European Central Bank should respond to the recent Oil price shock by prioritizing long-term inflation expectations. He notes that higher energy costs are both lifting inflation and weighing on growth, creating a policy dilemma.
Spain 12-Month Letras Auction rose from previous 2.121% to 2.611%
Brown Brothers Harriman’s (BBH) Elias Haddad highlights a busy US data calendar for the Dollar, with February PCE, March CPI and the University of Michigan survey guiding inflation expectations.
The US benchmark West Texas Intermediate Oil (WTI) hesitates near four-week highs on Tuesday. Price action remains steady above the 103.00 per barrel, but attempts to extend gains beyond 105.00 have been capped with US President Donald Trump’s deadline on Tehran approaching.
United Kingdom S&P Global Composite PMI below expectations (51) in March: Actual (50.3)
Eurozone Sentix Investor Confidence: -19.2 (April) vs previous -3.1
