Rabobank’s RaboResearch Global Economics & Markets team highlights that Oil prices have eased even as the IMF warns of a potential world recession if the Hormuz Strait remains closed.
Dow Jones futures remain flat near 48,750 during European hours on Wednesday, ahead of the regular opening in the United States (US). Meanwhile, S&P 500 and Nasdaq 100 futures also hover near 7,000 and 26,000, respectively, at the time of writing.
The Euro (EUR) posts marginal gains against the British Pound (GBP) on Wednesday and extends losses for the third consecutive day, testing April lows at the 0.8685 area, which, so far, has held the bears.
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann report that USD/JPY fell to 158.59 and closed at 158.77, with downside momentum starting to build.
Turkey Budget Balance: -229.9B (March) vs previous 24.37B
Danske Research Team highlights that softer-than-expected US PPI for March did not materially alter market pricing for Federal Reserve cuts, with only a one-in-three chance of easing this year.
Gold (XAU/USD) touches a fresh daily low during the first half of the European session and retreats further from a nearly four-week high, touched earlier this Wednesday.
ING’s Francesco Pesole highlights that Bank of England (BoE) tightening expectations have eased further, with officials sounding less hawkish than the European Central Bank (ECB).
Here is what you need to know on Wednesday, April 15:
Silver price (XAG/USD) struggles to extend recovery above $81.00 during the European trading session on Wednesday. The white metal ticks down as the US Dollar (USD) strives to gain ground after a seven-day losing streak.
Commerzbank’s Antje Praefcke notes that recent headlines around a possible diplomatic solution in the Middle East war have weakened the Dollar and supported EUR/USD. She argues FX may stay relatively muted until there is clearer evidence on the conflict path and a reliable easing of tensions.
EUR/JPY moves little after registering little losses in the previous day, trading around 187.30 during the early European hours on Wednesday.
