The GBP/JPY cross reverses an intraday dip to sub-215.00 levels and climbs back closer to its highest level since July 2008 during the early European session on Tuesday. Moreover, the fundamental backdrop backs the case for an extension of the recent move up witnessed over the past two weeks or so.
BNY’s John Velis notes that market-implied US policy rates are virtually flat through end-2026, reflecting uncertainty around growth, inflation and the ongoing war.
Spain Harmonized Index of Consumer Prices (YoY) came in at 3.4%, above forecasts (3.3%) in March
Spain Harmonized Index of Consumer Prices (MoM) registered at 1.7% above expectations (1.5%) in March
Spain Consumer Price Index (YoY) came in at 3.4%, above expectations (3.3%) in March
Spain Consumer Price Index (MoM) above forecasts (1%) in March: Actual (1.2%)
Here is what you need to know on Tuesday, April 14:
West Texas Intermediate (WTI), futures on NYMEX, is down almost 0.6% around $92.00 during the European trading session on Tuesday. The Oil price faces selling pressure amid hopes that the United States (US) is preparing for the second round of talks with Iran.
Danske Research Team reports a solid rebound in US equities, with the S&P 500 up 1% and tech leading gains.
The US Dollar (USD) posts marginal losses against the Canadian Dollar (CAD) on Tuesday, and extends its decline to three-week lows below 1.3790 after dropping from a high of 1.3878 on Monday.
Rabobank strategists highlight that Brent Oil prices are down on screens even as the US blockade of Hormuz, combined with Iran’s actions, threatens prolonged disruption.
The EUR/USD pair trades firmly near 1.1760 during the early European trading session on Tuesday, the highest level seen in six weeks. The major currency pair reflects strength as market sentiment remains risk-on due to optimism towards a permanent ceasefire between the United States (US) and Iran.
