West Texas Intermediate (WTI) oil price halts its four-day winning streak, trading around $99.60 per barrel during the Asian hours on Tuesday. Crude oil prices weaken on growing speculation that US President Donald Trump could end the Iran conflict, easing fears of prolonged supply disruptions.
Turkey Trade Balance above expectations (-9.2B) in February: Actual (-9.03B)
Here is what you need to know on Tuesday, March 31:
MUFG’s Senior Currency Analyst Michael Wan notes Brent and WTI have surged as energy shortages go global, with geopolitical risks around Iran and Red Sea shipping threatening key routes.
BNY’s Americas Macro Strategist John Velis discusses how Federal Reserve (Fed) balance sheet reduction is moving up the agenda, with officials like Kevin Warsh and Stephen Miran favoring a smaller footprint achieved mainly via lower reserves.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is remaining steady after five days of gains and hovering around 100.50 during the Asian hours on Tuesday.
France Producer Prices (MoM) meets expectations (-0.2%) in February
France Consumer Spending (MoM) came in at -1.4% below forecasts (-0.2%) in February
France Consumer Price Index (EU norm) (YoY) in line with expectations (1.9%) in March
The GBP/JPY cross attracts fresh sellers following an intraday uptick to the 211.22 area and retreats to the lower end of its daily range during the early part of the European session on Tuesday.
France Consumer Price Index (EU norm) (MoM) up to 1.1% in March from previous 0.7%
The EUR/JPY pair trades with caution around 182.90 during the early European trading session on Tuesday.
