USD/INR rises amid caution ahead of US-Iran negotiations on weekend
The Indian Rupee (INR) faces selling pressure against the US Dollar (USD) during afternoon trading hours in India on Friday.
India: Gradual energy pass-through keeps RBI patient – DBS
DBS Group Research projects India’s March Consumer Price Index (CPI) inflation to edge up to 3.45% year-on-year from 3.2%, reflecting higher cooking gas, energy and input costs, while retail fuel and food stay benign. Precious metals’ correction tempers price pressures.
Gold: Slight upside risk with fragile ceasefire – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong report Gold has rebounded in choppy trade on a fragile US–Iran ceasefire and direct Israel–Lebanon talks. With US nominal and real yields falling and risk sentiment improving, the bank sees risks to Gold prices somewhat skewed to the upside.
Fed: Limited inflation shock, delayed cuts – Commerzbank
Commerzbank economist Bernd Weidensteiner notes that the Federal Reserve sees itself in a good position despite Iran‑related inflation risks, with officials expecting only a small core inflation impact.
US: Energy shock set to lift headline CPI – Deutsche Bank
Deutsche Bank economists expect a sharp acceleration in US CPI for March as higher gasoline prices feed through. They project headline CPI at 0.95% month‑on‑month, the strongest since June 2022, lifting the annual rate back to 3.4%.
AUD/USD eases to 0.7060 as optimism about Iran’s truce ebbs
The Australian Dollar (AUD) trims gains on Friday as the US-Iran peace truce staggers. Cautious markets feature a mild return to the US Dollar’s (USD) safety following a risk-on week, and pulling the AUD/USD down from three-week highs near 0.7090 to session lows around 0.7060 so far.
Gold: Constructive longer‑term outlook despite volatility – ING
ING strategists Ewa Manthey and Warren Patterson highlight that Gold is edging higher and on track for a third consecutive weekly gain, supported by diplomatic optimism on Iran, central‑bank demand and rising inflation expectations.
ECB: Four rate hikes still baseline despite ceasefire – Nordea
Nordea’s Jan von Gerich and Tuuli Koivu updated their ECB outlook before the ceasefire news and now expect four 25bp hikes starting in June.
Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Friday, according to FXStreet data. Silver trades at $75.16 per troy ounce, down 0.23% from the $75.33 it cost on Thursday.
AUD/USD: Overdone rally still has room to test 0.7135 – UOB
United Overseas Bank’s (UOB) economists Quek Ser Leang and Lee Sue Ann note AUD/USD broke above the prior range, reaching near 0.7100. Despite labeling the recent surge as overdone, they still see room for a push toward 0.7135, with 0.7000 now the key strong support.
US: War burden and spending power – UBS
UBS economist Paul Donovan discusses how US March consumer price inflation highlights US consumers’ war-related burden and affordability concerns.
Silver Price Forecast: XAG/USD wobbles around $75 in countdown to US-Iran talks
Silver price (XAG/USD) trades in a tight range around $75.00 during the European trading session on Friday.