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Silver Price Forecast: XAG/USD wobbles around $75 in countdown to US-Iran talks
Silver price (XAG/USD) trades in a tight range around $75.00 during the European trading session on Friday.
US: War burden and spending power – UBS
UBS economist Paul Donovan discusses how US March consumer price inflation highlights US consumers’ war-related burden and affordability concerns.
AUD/USD: Overdone rally still has room to test 0.7135 – UOB
United Overseas Bank’s (UOB) economists Quek Ser Leang and Lee Sue Ann note AUD/USD broke above the prior range, reaching near 0.7100. Despite labeling the recent surge as overdone, they still see room for a push toward 0.7135, with 0.7000 now the key strong support.
Gold keeps the red below $4,750 amid firmer USD; US-Iran peace talks and US CPI in focus
Gold (XAU/USD) maintains its offered tone below the $4,750 level through the first half of the European session on Friday, albeit it lacks bearish conviction.
BRL: Hawkish tilt and supported real – Commerzbank
Commerzbank analysts Michael Pfister and Norman Liebke highlight that Brazil’s inflation edged higher in February, and they expect today’s March data to show another fairly sharp rise in prices.
WTI Crude Oil nears $93.00, with the Strait of Hormuz practically closed
Oil prices are ticking up for the second consecutive day on Friday. The US benchmark West Texas Intermediate (WTI) Oil has returned to levels near $93.00 per barrel, as restrictions in the Strait of Hormuz keep a de facto blockade in place, adding strain to an already frail ceasefire deal in Iran.
USD: Inflation and peace risks shape Dollar – ING
ING’s Francesco Pesole notes that the US Dollar Index remains just below 99.0, with further downside seen if a permanent Middle East peace deal is agreed and Strait of Hormuz flows resume.
Italy Industrial Output s.a. (MoM) below forecasts (0.5%) in February: Actual (0.1%)
Italy Industrial Output s.a. (MoM) below forecasts (0.5%) in February: Actual (0.1%)
Italy Industrial Output w.d.a (YoY) in line with forecasts (0.5%) in February
Italy Industrial Output w.d.a (YoY) in line with forecasts (0.5%) in February
US CPI inflation set to reaccelerate in March amid higher energy prices from Iran war
The US Bureau of Labor Statistics (BLS) will publish the March Consumer Price Index (CPI) data on Friday.
IDF remains in state of war with Lebanon
According to a report from the Guardian, Israel Defense Forces (IDF) chief of staff, Eyal Zamir, said that forces are continuing their combat operations in southern Lebanon and are “not in a ceasefire” with Hezbollah.
US equities: Outlook-driven earnings season – BNY
BNY’s Head of Markets Macro Strategy Bob Savage argues that Q1 US equities will be driven more by forward guidance than reported earnings, with consensus S&P 500 earnings growth around 13% and wide dispersion in forecasts.
USD/CAD Price Forecast: Snaps four-day losing streak after attracting bids near 20-day EMA
The USD/CAD pair rebounds to near 1.3833 from the two-week low of 1.3805 on Friday after snapping a four-day losing streak.
AUD/JPY remains subdued near 112.50 due to risk-off mood
AUD/JPY edges lower after four days of gains, trading around 112.50 during the European hours on Friday. The currency cross remains subdued as the Australian Dollar (AUD) holds losses following the release of Chinese Consumer Price Index (CPI) data for March.
GBP/JPY advances to fresh two-month high, eyes 214.00 as Middle East risks hit JPY
The GBP/JPY cross trades with a positive bias for the fifth consecutive day and hits a fresh two-month high, around the 213.85 area, during the early European session on Friday.
Brent: Supported near 96 as Hormuz traffic stalls – Danske Bank
Danske Research Team highlights that Brent crude is trading around USD 96 per barrel after sharp intraday swings tied to Middle East headlines.
EUR/USD retreats to 1.1685 as doubts about Iran’s peace process grow
The (EUR) has snapped a four-day rally against the US Dollar on Friday. The pair pulled back from monthly highs at 1.1720 on Thursday to 1.1685 at the time of writing, as investors' confidence in a peace deal between the US and Iran shakes.
GBP/USD: Upside risk hinges on 1.3480 close – UOB
United Overseas Bank’s (UOB) economists Quek Ser Leang and Lee Sue Ann highlight a still-positive short-term outlook for GBP/USD after recent gains above 1.3450. They see scope for the Pound (GBP) to advance toward 1.3520, but stress that a daily close above 1.3480 is required.
CAD: Jobs data and BoC stance guide Loonie – ING
ING’s Francesco Pesole points to Canada’s March labour report as key for Bank of Canada (BoC) expectations, stressing that the unemployment rate matters more than volatile monthly payrolls.
USD/INR rises ahead of US-Iran talks in Pakistan
The Indian Rupee (INR) faces selling pressure against the US Dollar (USD) during afternoon trading hours in India on Friday.
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