Brown Brothers Harriman’s (BBH) Elias Haddad highlights that global risk sentiment is deteriorating as Oil rises, equities and bonds fall, and the Dollar strengthens.
Commerzbank’s Dr. Vincent Stamer updates Euro area inflation projections incorporating the Iran War and associated energy shock. The bank expects higher Oil and natural gas prices to push headline inflation above 3% in 2026 before easing back to the ECB’s 2% target by 2027.
United States Michigan Consumer Expectations Index came in at 51.7 below forecasts (54.1) in March
United States UoM 5-year Consumer Inflation Expectation in line with forecasts (3.2%) in March
United States Michigan Consumer Sentiment Index came in at 53.3 below forecasts (54) in March
Nordea’s Jan von Gerich observes that recent equity weakness has not produced a stronger Dollar, suggesting its traditional safe-haven role is less dominant than before.
The US Dollar (USD) keeps marching higher against the Canadian Dollar (CAD) on Friday.
ING’s Chris Turner argues that EUR/USD remains under pressure as investors position for further Middle East escalation and tighter global financial conditions. He notes that Sovereign Wealth Fund retrenchment and hawkish European Central Bank pricing weigh on the pair.
Rabobank’s RaboResearch Global Economics & Markets team reviews Banxico’s March 26 decision to cut the overnight policy rate by 25bp to 6.75%. The move was a close call, with two governors preferring to keep rates at 7.00%.
UOB’s Quek Ser Leang highlights a weakening technical backdrop for AUD/USD after the pair broke below a rising wedge and tested the Ichimoku cloud base near 0.6870.
The Australian Dollar (AUD) outperforms its major currency peers, trading marginally higher to near 0.6900 against the US Dollar (USD) during the late European trading session on Friday.
Mexico Trade Balance s/a, $ climbed from previous $-1.248B to $-1.09B in February
