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Australian Dollar gains on hawkish remarks from RBA’s Bullock
AUD/USD continues its recovery for the second successive session, trading around 0.7100 during the Asian hours on Tuesday. The pair appreciates as the Australian Dollar (AUD) receives support from hawkish comments from the Reserve Bank of Australia (RBA) Governor Michelle Bullock.
EUR/USD weakens below 1.1700 as Middle East tensions drive US Dollar strength
The EUR/USD pair trades with mild losses around 1.1685, the lowest since late January, during the early Asian session on Tuesday. The US Dollar (USD) gathers strength against the Euro (EUR) as escalating tensions in the Middle East boost safe-haven currencies.
US President Donald Trump warns Iran about larger strikes as US urges Americans to evacuate
US President Donald Trump said that the “big wave” is yet to come, CNN reported on Tuesday. Meanwhile, US Secretary of State Marco Rubio stated that the United States is preparing for a “major uptick” in attacks in Iran over the next 24 hours.
Iran says will attack any ship trying to pass through Strait of Hormuz — Reuters
A commander in Iran’s Revolutionary Guard Corps (IRGC) said that the Strait of Hormuz is closed and Iran will fire on any ship trying to pass, Reuters reported on Tuesday.
Australia Building Permits (YoY): -15.7% (January) vs previous 0.4%
Australia Building Permits (YoY): -15.7% (January) vs previous 0.4%
Australia Building Permits (MoM) came in at -15.7%, below expectations (5.5%) in January
Australia Building Permits (MoM) came in at -15.7%, below expectations (5.5%) in January
Australia Building Permits (MoM) below forecasts (5.5%) in January: Actual (-7.2%)
Australia Building Permits (MoM) below forecasts (5.5%) in January: Actual (-7.2%)
South Korea S&P Global Manufacturing PMI declined to 51.1 in February from previous 51.2
South Korea S&P Global Manufacturing PMI declined to 51.1 in February from previous 51.2
Australia Current Account Balance came in at -21.1B below forecasts (-16.3B) in 4Q
Australia Current Account Balance came in at -21.1B below forecasts (-16.3B) in 4Q
Asia FX: Oil shock risks and currency vulnerabilities – MUFG
MUFG’s Senior Currency Analyst Michael Wan argues that sustained Oil price spikes linked to the Iran conflict would pressure most Asian currencies, as regional economies are largely net Oil importers. He highlights KRW, INR and PHP as more vulnerable, while CNH and MYR appear relatively resilient.
Silver Price Forecast: XAG/USD tumbles below $90 as US Dollar surges
Silver (XAG/USD) drops toward $87.90 at the time of writing on Monday, losing 6.33% on the day and sharply reversing the gains recorded earlier in the day.
Gold eases after US-Israel strikes on Iran rattle global markets
Gold (XAU/USD) eases after opening the week with a bullish gap amid escalating geopolitical tensions in the Middle East, with the US-Iran war triggering a fresh wave of safe-haven demand.
EUR/USD weakens as US-Iran conflict strengthens the US Dollar
The Euro (EUR) edges lower against the US Dollar (USD) on Monday, with EUR/USD sliding more than 1% as investors rotate into the safe-haven Greenback amid escalating geopolitical tensions in the Middle East.
USD/CHF advances on Middle East war, robust US manufacturing PMI
USD/CHF trades around 0.7800 on Monday at the time of writing, up 1.50% on the day, as the US Dollar (USD) extends gains that were already in place before the release of US manufacturing data.
Equities trim losses and Bitcoin rebounds
Traders are taking a more measured view of the geopolitical situation this afternoon, says Chris Beauchamp, Chief Market Analyst at online trading and investing platform IG.
Pound Sterling Price News and Forecast: Slides towards 1.3400 as Mideast war boosts US Dollar
GBP/USD retreats some 0.49% on Monday amid risk aversion sponsored by the conflict in the Middle East between the alliance of the US and Israel against Iran. Consequently, safe-haven peers like the US Dollar (USD) remain bid in the day, hence weighing on the pair.
EM: South Africa leads structural story – HSBC
HSBC Asset Management argues several emerging markets are entering a structurally bullish phase, highlighting South Africa’s improving fiscal stance and policy credibility.
Indian stocks rally expected, but precious metals crack [Video]
Global risk assets are signaling a potential shift in momentum. While Bitcoin (BTC) and Indian equities show constructive bullish setups, a sharp divergence is occurring in the commodities sector.
USD/CAD climbs as US-Iran war drives safe-haven demand, Oil prices jump
The Canadian Dollar (CAD) trades on the back foot against the US Dollar (USD) on Monday as the US-Iran war sparks a risk-off mood in global markets, boosting demand for the safe-haven Greenback and weighing on risk-sensitive currencies.
US ISM Manufacturing PMI edges lower to 52.4 in February vs. 51.8 expected
The business activity in the US manufacturing sector expanded in February, albeit at a slower pace than in January, with the Institue for Supply Management's (ISM) Manufacturing Purchasing Managers' Index (PMI) edging lower to 52.4 from 52.6 in January.
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