Forex Today: Safe-haven demand returns as US-Iran talks collapse
Here is what you need to know on Monday, April 13:
Turkey Current Account Balance registered at $7.501B above expectations ($-7.5B) in February
Turkey Current Account Balance registered at $7.501B above expectations ($-7.5B) in February
Macroeconomics: Stagflation risks at IMF and World Bank – DBS
DBS Group Research’s Philip Wee argues that stagflation will dominate the agenda at the International Monetary Fund (IMF) and World Bank Spring Meetings following President Trump’s Strait of Hormuz blockade.
Turkey Current Account Balance came in at $-7.501B, below expectations ($-7.5B) in February
Turkey Current Account Balance came in at $-7.501B, below expectations ($-7.5B) in February
BoJ’s Ueda: Rising oil prices worsen Japan’s trade
Bank of Japan (BoJ) Governor Kazuo Ueda said in his prepared remarks in a speech during the European trading session on Monday that the economic recovery is modest in the wake of the war in the Middle East.
Brent: Supply disruption risk supports higher prices – MUFG
MUFG’s Senior Currency Analyst Michael Wan notes that Trump’s announcement of a blockade of the Strait of Hormuz, following failed US–Iran talks, pushed Brent Oil up 9% to US$103 per barrel.
NZD/USD Price Forecast: Stays near 0.5850 after rebounding from levels near nine-day EMA
NZD/USD rises after opening at a gap down, trading around 0.5830 during the Asian hours on Monday. The technical analysis of the daily chart signals a potential for a bullish bias as the pair remains within the emerging ascending channel pattern.
Equities: Risk-off open expected on US‑Iran setback – Danske Bank
Danske Research Team expects equity markets to open more than 1% lower, tracking Asian losses after US‑Iran talks failed and Brent crude gapped higher.
Asian stocks drop as US-Iran peace talks break, US closes Hormuz
Most Asian equity indexes are trading lower on Monday, as this weekend’s peace talks between the US and Iran ended without agreement, and US President Donald Trump affirmed that the US military will enforce a blockade in the Strait of Hormuz.
EUR/USD: Market pricing de-escalation hopes – Commerzbank
Commerzbank’s Thu Lan Nguyen notes that negotiations between the United States and Iran have failed while Washington threatens a blockade of the Strait of Hormuz, risking a sharper global shortage of Oil and gas.
Silver Price Forecast: XAG/USD holds majority losses near $74 as fears of hawkish Fed outlook revives
Silver price (XAG/USD) claws back half of its early losses and rebounds to near $74.35 during the early European trading session on Monday, but is still almost 2% down.
EUR/CAD caps near 1.6200 as Euro struggles due to risk-off mood
EUR/CAD holds position after paring its intraday losses, trading around 1.6200 during the Asian hours on Monday. However, the currency cross still remains in the negative territory as the Euro (EUR) struggles amid increased risk aversion after the failure of the United States (US)-Iran peace talks.