The Euro (EUR) keeps trading sideways against the British Pound (GBP) on Friday, oscillating within a tight range around the 0.8650 level for the fourth consecutive day, on track for a 0.25% weekly decline.
The EUR/USD pair trades subduedly around 1.1520 during the European trading session on Friday.
Spain Consumer Price Index (MoM) climbed from previous 0.4% to 1% in March
Spain Harmonized Index of Consumer Prices (MoM) registered at 1.5%, below expectations (2.1%) in March
Spain Consumer Price Index (YoY) registered at 3.3% above expectations (2.4%) in March
Spain Harmonized Index of Consumer Prices (YoY) below expectations (3.9%) in March: Actual (3.3%)
DBS analysts Philip Wee and Chang Wei Liang argue that the Dollar’s (USD) broader downtrend has been interrupted by war-related haven demand and elevated Oil prices.
AUD/JPY edges higher after four days of losses, trading around 110.20 during the European hours on Friday. The technical analysis of the daily chart suggests a bearish bias as the currency cross moves downwards within the descending channel pattern.
Here is what you need to know on Friday, March 27:
Danske Research Team highlights that the central bank of Norway, Norges Bank delivered a hawkish hold at 4.00%, with internal debate over an immediate hike and an upwardly revised rate path. The bank now expects two 25bp hikes in June and September, followed by cuts from 2027.
Standard Chartered economists Dan Pan and Steve Englander argue that the recent Oil price surge is unlikely to trigger a 1970s-style stagflation in the United States.
Crude Oil prices have pared previous losses, returning to levels above $93.50 per barrel at Friday’s European session opening.
