Commerzbank analyst Carsten Fritsch notes Gold has dropped over 13% this month, its steepest fall since 2008, as surging Oil prices forced markets to price out Fed rate cuts. Recently, both Gold and Oil have risen together.
Tensions between the United States (US) and Iran remain in focus after a series of comments from US Defense Secretary Pete Hegseth reported by Reuters, who said the coming days could be decisive in the conflict.
ING’s Bert Colijn notes that Eurozone inflation has jumped from 1.9% to 2.5%, driven entirely by higher energy prices, while core and food inflation continue to ease.
United States S&P/Case-Shiller Home Price Indices (YoY) came in at 1.2%, below expectations (1.3%) in January
United States Housing Price Index (MoM) in line with expectations (0.1%) in January
West Texas Intermediate (WTI) US Oil trades around $99.60 on Tuesday, down 2.30% on the day at the time of writing, ending a four-day winning streak as markets react to signs that geopolitical tensions in the Middle East could ease.
United States Redbook Index (YoY) up to 6.9% in March 27 from previous 6.7%
Canada Gross Domestic Product (MoM) above forecasts (0%) in January: Actual (0.1%)
BNP Paribas analyzes US plans to ease bank liquidity rules to help restore the Federal Reserve’s (Fed) lender-of-last-resort function and potentially enable further balance sheet reduction.
TD Securities remains constructive on AUD/NZD, viewing recent weakness as a correction within an ongoing uptrend.
BNY’s Head of Markets Macro Strategy Bob Savage notes that the Indian Rupee (INR) faces continued pressure, recording the highest level of realized selling among Asia-Pacific (APAC) currencies in March.
In a series of posts on Truth Social, US President Donald Trump criticized several US allies, including the United Kingdom (UK) and France, over their position following the recent US operation targeting Iran.
