DXY rallies toward 100.00 as Iran conflict drives safe-haven flows
The DXY jumped about 0.55% on Tuesday, rallying to around 99.09 and extending Monday’s sharp move higher. The index has broken decisively out of the 97.00 to 98.50 consolidation range that held through most of February, with Monday’s strong bullish candle marking the biggest single-session gain in weeks. The escalating conflict in the Middle East […]
Conflict risks pressure Rupee – DBS
DBS Group Research economist Radhika Rao highlights India’s heavy reliance on imported energy and expects INR to stay under pressure. She notes their calculations show that every $10bbl move in oil prices can raise the current account deficit by 0.35% of GDP, with the impact on inflation (20-30bps) contingent on the extent of pass through […]
Disruption risks and tight prompt market – ING
ING’s Warren Patterson and Ewa Manthey note Brent rallied sharply after Middle East tensions, with the benchmark settling higher but off intraday peaks as traders reassessed disruption risks. They highlight concerns over flows through the Strait of Hormuz, potential attacks on regional energy infrastructure, and pronounced tightness in the prompt market reflected in widening Brent […]
The central bank should be flexible given Iran
European Central Bank (ECB) governing council member and Governor of the Bank of Greece, Yannis Stournaras said in an interview with Reuters during the day that the central bank needs to be flexible about its monetary policy amid the war between the United States (US), Israel, and Iran. Remarks ECB should be flexible given Iran. Upward […]
Three cuts still expected – BNY
BNY macro strategist John Velis maintains a forecast for three Federal Reserve rate cuts in the second half of the year despite geopolitical tensions and firmer producer prices. He argues that a weakening U.S. labor market will ultimately drive easier policy, potentially steepening the curve as front-end yields fall and long-end yields rise. Labor concerns […]
Gold price in India: Rates on March 3
Gold prices rose in India on Tuesday, according to data compiled by FXStreet. The price for Gold stood at 15,891.23 Indian Rupees (INR) per gram, up compared with the INR 15,775.35 it cost on Monday. The price for Gold increased to INR 185,352.20 per tola from INR 184,000.60 per tola a day earlier. Unit measure […]
US President Donald Trump vows to respond to Riyadh embassy attack
US President Donald Trump said on Tuesday that people will find out soon what the retaliation will be to an attack on the US embassy in Riyadh and over the deaths of US military personnel during the Iran conflict. His remarks came after the US embassy in Saudi Arabia was hit by two drones, resulting […]
Surges toward YTD high near 112.00
The AUD/JPY recovers from earlier losses, advances some 0.38% on Tuesday even though risk aversion is ruling the financial markets as tensions in the Middle East had risen. Hawkish comments of RBA’s Governor Bullock propel the Aussie Dollar higher. At the time of writing, the cross-trades at 111.62. AUD/JPY Price Forecast: Technical outlook The AUD/JPY […]
AUD/USD drops on Iran conflict rhetoric and firm US data
The Australian Dollar (AUD) registers losses versus the Greenback on Monday following over-the-weekend developments in the Middle East, which triggered a flight to safety, weighing on the AUD/USD pair. At the time of writing, it trades at 0.7083, down 0.37%. Aussie weakens as Middle East escalation, firm US data fuel haven demand Sentiment remains negative […]
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. At the time of writing, the pair trades around 1.1683, marking its lowest level in over a month. A joint US-Israel strike […]
