The US Dollar (USD) is regaining lost ground on Thursday, and the DXY returns to levels above the 100.00 line at the time of writing, buoyed by the risk-averse sentiment. US President Donald Trump crushed hopes of a swift end to the Iran war and sent the Greenback higher across the board.
ING analysts Francesco Pesole, Frantisek Taborsky and Chris Turner note that the US Dollar has regained support as risk-off sentiment returns following renewed Middle East escalation and uncertainty around the Strait of Hormuz.
The EUR/JPY pair trades in a tight range around 184.00 during the European trading session on Thursday. The pair consolidates as investors seek fresh cues regarding how monetary policies by the European Central Bank (ECB) and the Bank of Japan (BoJ) will flare going ahead.
West Texas Intermediate (WTI) oil price rises over 7% after two days of losses, trading around $101.10 per barrel during the European hours on Thursday.
Gold (XAU/USD) trims a part of its heavy intraday losses and recovers closer to the $4,650 region during the first half of the European session. Any meaningful upside, however, still seems elusive in the wake of a goodish pickup in the US Dollar (USD) demand.
Brazil Fipe's IPC Inflation climbed from previous 0.25% to 0.59% in March
Rabobank’s Senior Market Strategist Benjamin Picton notes that Brent briefly fell below $100 before Donald Trump’s national address reversed risk sentiment, sending Oil higher and bond yields up.
European Central Bank (ECB) Governing Council (GC) member and Governor of the Lithuanian central bank, Gediminas Simkus, said during European trading hours on Thursday that the central bank needs to exercise caution on interest rates as the situation is changing.
MUFG’s Senior Currency Analyst Michael Wan analyzes new RBI measures restricting Indian Rupee non-deliverable derivatives and recent limits on onshore USD/INR positions. He argues these steps deepen the divide between onshore and offshore markets and aim to curb INR weakness.
EUR/GBP’s reversal from one-month highs at 0.8740 found buyers right above 0.08700 on Wednesday, and the pair has trimmed losses on Thursday, returning to the 0.8720 area at the time of writing.The Euro (EUR) seems to be faring better than the British Pound (GBP) amid the risk-averse market mood, an
According to a poll from Reuters, all 32 economists are in favor that the Reserve Bank of New Zealand (RBNZ) will leave its Official Cash Rate (OCR) unchanged at 2.25% in the monetary policy meeting on April 8.
Commerzbank economists Dr. Christoph Balz and Dr. Ralph Solveen argue that higher Oil prices from the Iran War are set to push US inflation higher. They expect March CPI to rise 0.9% month-on-month and 3.3% year-on-year, with core at 0.3% and 2.7%.
