Michael Pfister at Commerzbank notes that Norwegian Krone (NOK) has outperformed Swedish Krona (SEK) thanks to Norway’s energy-exporter status during the war-related commodity shock, despite similar rate expectations.
Nordea’s Chief Analyst Anders Svendsen and Chief Economist Tuuli Koivu note Euro area inflation rose to 2.5% year-on-year in March and is expected to approach 3% in coming months.
Silver prices (XAG/USD) rose on Tuesday, according to FXStreet data. Silver trades at $73.14 per troy ounce, up 4.36% from the $70.09 it cost on Monday.
The Australian Dollar (AUD) trades higher against its major currency peers, with the AUD/USD pair rising 0.15% to near 0.6865, during the European trading session on Tuesday.
ING’s Chris Turner argues the Dollar (USD) could ease as US light crude trades above $100 and markets look for signs of de-escalation in the Middle East. A relaxed Federal Reserve (Fed) tone has pushed money markets back toward pricing a rate cut by year-end.
Standard Chartered analysts Nicholas Chia and Chong Hoon Park highlight that new Bank of Japan (BoJ) indicators show underlying inflation near or above the 2% target and a positive output gap since Q1 2022, suggesting growth above potential.
USD/KRW rallies on Tuesday, trading around 1,529.70 at the time of writing, up 0.93% on the day after hitting an intraday peak at 1,536.04, its highest level since March 2009.
Annual Harmonized Index of Consumer Prices (HICP) in the Eurozone, as measured by changes in the prices of a representative basket of goods and services in the European Monetary Union, rises at a moderate pace of 2.5% in March, against estimates of 2.7%. In February, the data grew by 1.9%.
MUFG’s Senior Currency Analyst Lee Hardman highlights that the Japanese Yen (JPY) has held recent gains, with USD/JPY dipping below 160.00 as officials step up verbal intervention.
Eurozone Harmonized Index of Consumer Prices (MoM) increased to 1.2% in March from previous 0.6%
NZD/USD extends its losing streak for the sixth successive day, trading around 0.5710 during the European hours on Tuesday. The technical analysis of the daily chart signals a persistent bearish bias as the pair is moving downwards within a descending channel pattern.
Eurozone Core Harmonized Index of Consumer Prices (YoY) came in at 2.3% below forecasts (2.4%) in March
