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Eurozone Consumer Confidence declined to -20.6 in April from previous -16.3
Eurozone Consumer Confidence declined to -20.6 in April from previous -16.3
Gold rises as Trump extends Iran ceasefire amid stalled peace talks
Gold (XAU/USD) rebounds on Wednesday, trimming a portion of the losses recorded on the previous day. The move follows the announcement by US President Donald Trump extending the ceasefire with Iran just hours before it was due to expire.
US President Trump: Iran talks may be coming as soon as Friday – NYP
Citing United States (US) President Donald Trump and Pakistani sources on Wednesday, the New York Post reported that the second round of talks between the US and Iran could take place as soon as this Friday.
USD: Stagflation risk supports resilience – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong note that renewed Oil-driven inflation risks are tightening global financial conditions, lifting the US Dollar (USD) as yields rise and risk appetite weakens.
US Dollar Index holds firm as US naval blockade undermines Iran ceasefire extension
The US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, holds steady on Wednesday, hovering near one-week highs as the extension of the US-Iran ceasefire is seen as a temporary pause in military escalation rather than a real breakthrough, suggesting th
ECB: Limited case for renewed rate hikes – Commerzbank
Commerzbank’s Dr. Vincent Stamer compares its Euro area inflation projections with European Central Bank (ECB) staff forecasts and concludes they are broadly aligned under the mild Iran War scenario.
Pound Sterling Price News and Forecast: GBP/USD nudges higher on UK inflation
GBP/USD trades around 1.3515 on Wednesday, gaining a modest 0.06% at the time of writing, as investors digest the latest inflation figures from the United Kingdom (UK) and assess the outlook for monetary policy on both sides of the Atlantic.
USD/CAD: Bear trend extends with downside risks – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is little changed versus the US Dollar (USD), trading around the midpoint of Tuesday’s range. April’s broader USD decline has largely closed CAD’s valuation gap to fair value near 1.3563.
Euro area: Energy shock seen more disinflationary – Nomura
Nomura economists argue that the latest energy price surge will be a larger drag on Euro area growth than a persistent inflation shock. They stress weaker labour markets in Northern Europe, limited fiscal space, more spare capacity and slowing wage growth.
Oil: Supply shock revives stagflation worries – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong highlight that Brent is nearing USD100 as flows through the Strait of Hormuz are unlikely to resume early, pushing markets into an Oil–stagflation channel.
Canada New Housing Price Index (YoY) dipped from previous -2.1% to -2.3% in March
Canada New Housing Price Index (YoY) dipped from previous -2.1% to -2.3% in March
Canada New Housing Price Index (MoM) came in at -0.2% below forecasts (0.2%) in March
Canada New Housing Price Index (MoM) came in at -0.2% below forecasts (0.2%) in March
UK: BoE seen on hold as prices rise – ING
ING’s James Smith notes that UK inflation rose to 3.3% in March on higher fuel costs and is likely to move towards 3.5–4% later in 2026, helped by July’s increase in household energy bills.
USD: Geopolitics and Oil keep risks elevated – MUFG
MUFG’s Derek Halpenny highlights that President Trump’s ceasefire extension has offered only limited relief, with Oil near USD 100 and risk sentiment deteriorating.
USD/JPY steadies above 159.00 with the US-Iran ceasefire into pressure
The US Dollar (USD) is trading practically flat, right above 159.00 against the Japanese Yen (JPY) on Wednesday, consolidating Tuesday’s gains amid cautious markets. Most US Dollar crosses remain moving within previous ranges as the situation in the Middle East deteriorates.
EUR/USD: Range-bound outlook with policy risks – Societe Generale
Societe Generale’s Kit Juckes argues EUR/USD is likely to stay range-bound as geopolitical risks and US policy uncertainty offset economic fundamentals. He notes two-year rate differentials point to EUR/USD near 1.14–1.17, while consensus GDP suggests 1.14 is appropriate.
Fed: Warsh risks and delayed cuts – Commerzbank
Commerzbank economists Bernd Weidensteiner and Christoph Balz assess the implications of Kevin Warsh’s potential appointment as Federal Reserve (Fed) Chair for US monetary policy.
USD/JPY: Testing highs but momentum still muted – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann observe that USD/JPY climbed to 159.37 as the Dollar strengthened. They see scope for a retest of 159.65, with limited follow-through above that level, and expect a broader 157.55–160.50 range.
EUR/USD Price Forecast: 61.8% Fibo retracement at 1.1825 remains key barrier
The EUR/USD pair trades flat at around 1.1745 during the European trading session on Wednesday. The major currency pair consolidates while the US Dollar (USD) edges lower amid hopes of a prolonged standoff between the United States (US) and Iran.
AUD/USD: Growth index softens but flows turn supportive – BNY
BNY’s Bob Savage notes that Australia’s Westpac-Melbourne Institute Leading Index has slipped below trend, signaling weaker growth ahead as higher rates and the Middle East energy shock weigh on activity.
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