United States Consumer Credit Change below expectations ($10B) in February: Actual ($9.48B)
United States Consumer Credit Change below expectations ($10B) in February: Actual ($9.48B)
Forex Today: US Dollar holds firm, Oil surges as Iran deadline keeps markets on edge
The US Dollar Index (DXY) held near 99.80, not far from last week’s 100 peak, broadly supported as markets remain locked on the Iran conflict and, in particular, on United States (US) President Donald Trump’s deadline for 8:00pm EST tied to the Strait of Hormuz.
Energy: Price shock drives building material costs – ING
ING’s Maurice van Sante argues that higher Oil and Gas prices, driven by conflict in the Middle East, are set to raise costs in the European building materials sector.
AUD/USD Price Forecast: Bulls test 0.6950 resistance after rebound from 100-day SMA
The Australian Dollar (AUD) strengthens against the US Dollar (USD) on Tuesday as the Greenback softens amid fragile market sentiment ahead of a deadline set by US President Donald Trump for Iran to reach a deal or reopen the Strait of Hormuz by 8:00 p.m. Eastern Time (00:00 GMT on Wednesday).
Fed’s Goolsbee: Inflation would come roaring back
Austan Goolsbee, President of the Federal Reserve (Fed) Bank of Chicago, said that inflation will come roaring back, citing that with Oil prices rising, this is a stagflationary shock to the market in a prepared speech in Detroit on Tuesday.
Asian FX: Sideways as Hormuz risks linger – OCBC
OCBC strategists Christopher Wong and Sim Moh Siong note that Asian FX, including South Korean Won (KRW), has traded slightly firmer on hopes of de-escalation in the Middle East, but stresses that geopolitics remains the key driver.
WTI remains volatile ahead of Trump’s Iran deadline
West Texas Intermediate (WTI) Crude Oil trades in a volatile and choppy range on Tuesday as traders remain cautious ahead of a deadline set by US President Donald Trump for Iran to reach a deal.
United States 3-Year Note Auction: 3.897% vs 3.579%
United States 3-Year Note Auction: 3.897% vs 3.579%
TRY: Fragile as oil shock worsens outlook – Commerzbank
Commerzbank’s Tatha Ghose argues that Turkey’s brief disinflation respite is already obsolete as higher Oil prices and external shocks dominate. Headline CPI slowed in March, but core dynamics remain strong and credibility concerns persist.
Central banks: Asia and EM seen on hold this week – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad anticipates the RBI, NBP, BCRP and BOK will all leave policy rates unchanged at upcoming meetings.
GBP/USD climbs as Middle East ceasefire hopes ease fresh fears
The Pound Sterling (GBP) rises by over 0.20% against the US Dollar (USD) on Tuesday amid speculation of a ceasefire agreement, but newswires revealed that the chances of a deal are far, increasing the likelihood of a US attack as Donald Trump’s deadline approaches.
Gold trades choppy as Trump’s Iran ultimatum weighs on market sentiment
Gold (XAU/USD) is trading in a choppy range on Tuesday with markets on edge as the ultimatum from US President Donald Trump to reach a deal with Iran nears its deadline.