BNY's Head of Markets Macro Strategy Bob Savage at notes that the Reserve Bank of New Zealand (RBNZ) kept the Official Cash Rate (OCR) at 2.25% as the Middle East conflict altered the outlook, lifting near‑term inflation risks while weighing on growth.
Rabobank economists Mauricio Une and Renan Alves note that the Dollar (USD) closed last week at 5.1573, with the Brazilian Real (BRL) appreciating 1.6% over the week, ranking among the top emerging-market performers.
ING’s commodities team of Ewa Manthey and Warren Patterson report that Oil prices have dropped sharply, with Brent and WTI falling well below $100 as a US–Iran two‑week ceasefire eases supply disruption fears.
Brown Brothers Harriman’s (BBH) Elias Haddad notes that the US-Iran ceasefire has pushed financial markets into relief mode, with Brent, equities and bonds reacting positively and the Dollar falling sharply.
Mexico Consumer Confidence dipped from previous 44.5 to 44.1 in March
Mexico Consumer Confidence s.a: 44.1 (March) vs previous 44.4
MUFG’s Head of Research Derek Halpenny underlines that United Kingdom (UK) PMI Services and Composite data show a larger downturn than in Europe, with a record jump in input prices driven by energy concerns.
The NZD/USD pair is up 1.6% to near 0.5830 in the European trading session on Wednesday.
The announcement of a two-week ceasefire in Iran triggered a relief rally during Wednesday’s Asian trading session, sending the safe-haven US Dollar (USD) tumbling against its main peers.
BNY's Head of Markets Macro Strategy Bob Savage notes Eurozone producer prices fell on energy weakness while ex‑energy pressures stayed positive, and retail sales showed modest annual growth despite monthly softness.
United States (US) President Donald Trump said on Truth Social on Wednesday that the US will work closely with Iran through a "very productive regime change."
Commerzbank’s Carsten Fritsch reports that Gold jumped up to 3% to USD 4,855 per ounce after the 14‑day Middle East ceasefire, behaving unlike a classic safe haven. The move is linked to lower Oil prices, reduced inflation risks and softer rate expectations, which have pushed bond yields down.
