Struggles at 0.7800, dives below 50-day SMA
The USD/CHF pair retreats on Friday during the North American session, down 0.53% as the Greenback weakens following a dismal jobs report, and a break to four day low beneath the 0.7800 figure. At the time of writing, the pair trades at 0.7771, yet it remains to end the week with gains of more than […]
Iran says no more attacks against neighbouring countries “unless they attack first”
During an address broadcast by Iranian state TV, President Masoud Pezeshkian apologised to the neighbouring countries for attacks launched following US-Israel strikes but asserted that Tehran will not strike “unless they attack first”. Key quotes I must apologise on my own behalf and on behalf of Iran to the neighbouring countries that were attacked by […]
Flows diverge as safe haven doubts grow – BNY
BNY’s Head of Markets Macro Strategy Bob Savage notes a sharp divergence between CNY forwards and spot, suggesting hedge unwinding alongside asset outflows. CNY has outperformed peers, yet the bank questions its safe haven role as spot flows show large outflows tied to expatriation. PBoC officials reiterate they will not use depreciation for competitiveness and […]
Upside risks as strong fix meets USD demand – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong note that USD/CNH has traded higher as Iran-related geopolitical tensions support the Dollar. Beijing has been setting a stronger CNY fix, which has helped stabilise the Renminbi and partially offset broader Asian FX softness. However, persistent USD strength and weaker risk sentiment could force even stronger fixes […]
Inflation and trade data support modest recovery – ING
ING economists Lynn Song and Min Joo Kang expect China’s February CPI inflation to pick up to 1.0% year-on-year, mainly due to Lunar New Year effects, while the impact of higher Oil prices should appear later. They also project solid growth in exports and imports over the first two months, resulting in a larger trade […]
Limited growth hit from conflict – UOB
UOB Global Economics & Markets Research, through Associate Economist Jester Koh, judges that Singapore’s GDP exposure to the Middle East conflict is modest under a short-lived shock scenario. Exports to key regional economies are about 2% of total exports, and UOB keeps its 2026 GDP growth forecast at 3.6%, while flagging potential secondary demand effects […]
Middle East war boosts Oil, NFP miss shakes US Dollar
The Middle East crisis has escalated into an all-out war after the US and Israel assassinated the Supreme Leader of Iran on February 28. Iran not only targeted Israel but also attacked United States (US) military bases around the Persian Gulf. The Strait of Hormuz has been blocked by Iranian forces, cutting off Asia’s primary […]
