Commerzbank’s Dr. Henry Hao and Moses Lim note that Indonesia March CPI slowed to 3.5% year-on-year, back within Bank Indonesia’s (BI) target range, but warns that Middle East conflict and higher freight costs pose upside inflation risks.
The Pound (GBP) is trading higher against the Japanese Yen (JPY) on Monday, favoured by a moderate optimism amid news of a peace plan to end the war in Iran.
BNY’s Head of Markets Macro Strategy Bob Savage notes the Japanese Yen continues to weaken with USD/JPY near 160 as JGB yields hit multi‑decade highs and the Bank of Japan (BoJ) maintains a hiking bias.
The Euro (EUR) is trading higher against the US Dollar (USD) on Monday, favoured by a moderate improvement in market sentiment, amid news of a potential ceasefire in the Iran war.
The AUD/USD pair trades 0.5% higher to near 0.6930 during the European trading session on Monday. The Aussie pair strengthens as riskier assets trade firmly amid ongoing discussions between the United States (US) and Iran regarding an end to the Middle East war.
US benchmark West Texas Intermediate Oil (WTI) depreciated about $5 from session highs on Monday, hitting lows near $101.00 per barrel, from $106.44 highs, weighed by news that the US and Iran might be bringing positions closer to a peace deal through international intermediaries.
Silver prices (XAG/USD) rose on Monday, according to FXStreet data. Silver trades at $73.53 per troy ounce, up 0.67% from the $73.05 it cost on Friday.
OCBC strategists Sim Moh Siong and Christopher Wong highlight that higher Oil prices and safe-haven flows have re-anchored the Dollar, reversing expectations for a steady USD decline.
Silver price (XAG/USD) holds gains after recovering daily losses, trading around $73.30 per troy ounce during the European hours on Monday.
The New Zealand Dollar (NZD) is capitalising on a moderate US Dollar (USD) weakness on a calm trading session, with most markets closed on Easter Monday.
The Pound Sterling attracts significant bids against the US Dollar (USD) on Monday, rising 0.45% to near 1.3255 during the European trading session.
USD/CAD depreciates as the US Dollar (USD) eases amid improved market sentiment following the reports, suggesting prospects for a ceasefire in the Middle East. The pair trades around 1.3920 during the European hours on Monday.
