BNP Paribas analysts argue that weaker demand in the Eurozone compared to 2022 is helping to contain inflation, even as supply constraints remain above historical averages.
BNY's Head of Markets Macro Strategy Bob Savage highlights that the Reserve Bank of India (RBI) left its policy rate at 5.25% with a neutral stance, citing uncertainty from the West Asia conflict.
Scotiabank strategists Shaun Osborne and Eric Theoret note that the Pound (GBP) is a strong G10 performer, gaining about 1.1% on sentiment-driven buying and pushing to the top of its late-February range.
United States EIA Crude Oil Stocks Change above expectations (0.7M) in April 3: Actual (3.081M)
MUFG’s Head of Research Derek Halpenny highlights that a two-week ceasefire between the US, Israel and Iran has sharply weakened the US Dollar as risk sentiment improves and Brent Oil falls.
Wells Fargo economists highlight that the Iran conflict and higher Oil prices are reviving consumer inflation and breaking the recent disinflation trend.
Royal Bank of Canada (RBC) analysts review how Canada has weathered one year of U.S. tariff shocks. They note that Canada’s Gross Domestic Product (GDP) and unemployment held up, but sectoral and regional damage was significant.
TD Securities strategists argue that higher energy-linked inflation and delayed Fed cuts keep the opportunity cost of holding Gold elevated in the near term. They also flag the lack of Middle East capital as a downside catalyst.
The US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, comes under heavy selling pressure on Wednesday, sliding to one-month lows after the United States and Iran agreed to a two-week ceasefire deal.
OCBC strategists Sim Moh Siong and Christopher Wong stress that markets are being driven almost entirely by Iran headlines, with Oil and yields reacting to ceasefire developments.
Commerzbank’s Thu Lan Nguyen notes Copper has turned into a top performer after being one of the weakest metals, pressured by rising LME stocks and mixed supply news.
Iran's Islamic Revolutionary Guard Corps (IRGC) stated on Wednesday that Iran will manage the Strait of Hormuz proactively and control it intelligently, while warning of a stronger response to any renewed attacks from the United States (US) or Israel, per Reuters.
