Oil prices have trimmed some of the last two days' losses, and the price of a barrel of the US benchmark West Texas Intermediate (WTI) returned to levels above $93.00 at the time of writing, from lows near $86.00 on Wednesday.
Ireland HICP (YoY) meets expectations (3.6%) in March
Ireland Consumer Price Index (MoM) up to 1.6% in March from previous 0.9%
Ireland HICP (MoM) meets expectations (1.8%) in March
Portugal Global Trade Balance dipped from previous €-7.457B to €-7.951B in February
UOB’s Alvin Liew notes that the March FOMC minutes show a divided Federal Reserve but with most officials more worried about US labor markets than inflation, implying a tilt toward future rate cuts.
Silver prices (XAG/USD) fell on Thursday, according to FXStreet data. Silver trades at $74.11 per troy ounce, down 1.08% from the $74.92 it cost on Wednesday.
Silver (XAG/USD) is looking for direction at $74.00 on Thursday, after pulling back from Wednesday’s highs at $77.65. The precious metal lost its shine as the market turned cautious with the first cracks emerging in the US-Iran ceasefire deal.
OCBC strategists Sim Moh Siong and Christopher Wong highlights Australian Dollar (AUD) as the preferred G10 expression of de-escalation and pro-growth after the US-Iran ceasefire.
Deutsche Bank strategists highlight sharp volatility in Brent Oil as Middle East ceasefire doubts resurface. Brent initially slumped over 13% to a four-week low near $95, then rebounded above $96 as concerns about Hormuz shipping and ceasefire durability persisted.
Ireland Consumer Price Index (YoY): 3.6% (March) vs 2.7%
Nordea’s Group Chief Economist Helge J. Pedersen highlights that Eurozone inflation has risen with higher energy prices but remains well below 2022 levels. He stresses that strong household savings, low unemployment and ongoing investment in infrastructure and defense should cushion growth.
