MUFG’s Lloyd Chan notes that persistent geopolitical tensions around Iran are reinforcing USD strength. Elevated US yields, resilient labour data and fading expectations for Fed rate cuts underpin Dollar carry appeal.
The Indian Rupee (INR) falls after a flat opening against the US Dollar (USD) at the start of the Reserve Bank of India’s (RBI) monetary policy week.
The US Dollar (USD) nudges lower against the Japanese Yen (JPY) on Monday, with trading volumes at low levels as most markets remain closed on Easter Monday. The pair hit session lows at 159.35 on the early European session, as hopes of a peace deal in Iran are putting the US Dollar under pressure.
Gold (XAU/USD) builds on its steady intraday ascent and climbs to the $4,700 neighborhood, or a fresh daily high during the first half of the European session on Monday.
The EUR/USD pair trades 0.4% higher to near 1.1560 during the European trading session on Monday.
EUR/JPY recovers its recent losses from the previous trading day, hovering around 184.40 during the European hours on Monday. The technical analysis of the daily chart suggests the currency cross is moving sideways within an ascending triangle pattern, indicating consolidation.
BNY’s Bob Savage highlights a severe Oil supply shock, with front‑month Brent spiking above $140 and forward prices far lower, tightening global financial conditions.
Iran has confirmed that it has received the proposal of a ceasefire by the United States (US) through Pakistan and has stated that it is being reviewed, according to a Senior Iranian official, Reuters reports.
Here is what you need to know on Monday, April 6:
According to a Reuters report, a source aware of ceasefire proposals between the United States (US) and Iran has stated that both nations are discussing a two-tier deal that involves plans to end hostilities by Monday, followed by the reopening of the Strait of Hormuz and Iran dropping its nuclear a
Dow Jones futures have recovered daily losses and are trading around 46,660, up by 0.06%, during European hours on Monday, ahead of the regular United States (US) open.
Societe Generale economists see the Euro area entering the latest energy shock with improved resilience and reduced Oil and gas intensity.
