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.
South Africa Trade Balance (in Rands) rose from previous 9.31B to 36.92B in February
Commerzbank’s Volkmar Baur says Japan’s inflation outlook remains contained, with core prices still within the Bank of Japan’s (BoJ) 2% target range and second‑round effects not yet visible.
The Pound Sterling (GBP) is posting a fragile recovery attempt against the Japanese Yen (JPY) on Tuesday, following Monday’s sharp reversal. The pair found support at 210.00 on Monday, but recovery attempts remain limited below a previous support level around 211.00.
MUFG’s Senior Currency Analyst Lee Hardman notes the US Dollar is trading at its strongest levels since May last year as the Middle East conflict fuels concerns over a prolonged energy price shock that could hit global growth outside the US harder.
The Pound Sterling (GBP) trades higher against its major currency peers, rising 0.17% to near 1.3200 against the US Dollar (USD) during the European trading session on Tuesday.
Societe Generale’s Kenneth Broux and colleagues note that EUR/GBP has bounced from February’s 0.8610 support and is now approaching its 200‑day moving average.
TD Securities’ Global Strategy Team notes the RBA hiked in March citing persistent inflation, strong demand, a tight labour market and higher Oil prices.
USD/CHF advances on Tuesday, rising 0.12% to trade near 0.8005 at the time of writing, extending a six-day winning streak. The pair is supported by a slight advantage for the US Dollar (USD) and relative weakness in the Swiss Franc (CHF) amid improving global risk appetite.
European Central Bank (ECB) Governing Council member Madis Müller said in an interview in Tallinn, reported by Bloomberg during European trading hours on Tuesday, that there could be an interest rate hike by the central bank in the April policy meeting.
Gold (XAU/USD) maintains a moderate bullish tone on Tuesday, extending its recovery from last week’s lows near $4,100, yet with resistance at the $4,600 area, holding upside attempts for now.
ING’s Chris Turner notes short-dated Euro swap rates have started to edge lower after a sharp spike, but real rate differentials have moved against EUR/USD. He argues this could be Euro-negative if the ECB refrains from an April hike while inflation expectations stay high.
