Author: FX

It was another messy day in the financial markets, as asset classes took cues from their own individual catalysts. Gold struck a fresh record high while global uncertainties lingered while crude oil rebounded thanks to new U.S. sanctions on Iran and China. Major currencies also had plenty to work with, including a couple of top-tier jobs releases and major central bank announcements. Here are the latest headlines and economic reports you need to know. Headlines: China held its benchmark rate steady for the fifth straight month, with the one-year loan prime rate at 3.1% and five-year LPR at 3.6% Australia…

Russia says Ukrainian drone attack on oil depot already violates proposed ceasefire Source link

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The Greenback made a U-turn, building on Wednesday’s post-FOMC recovery and climbing to weekly highs as investors reassessed the Federal Reserve’s lack of urgency in cutting rates. Here is what you need to know on Friday, March 21: The US Dollar Index (DXY) regained the smile and returned to the area beyond the 104.00 barrier despite further weakness in US yields across the various maturity periods. The speech by the Fed’s Williams will be the sole release on the US docket at the end of the week. EUR/USD succumbed to the marked rebound in the Greenback and receded to multi-day…

Axios reports that Israel is sending a delegation to the White House next week ‘for strategic consultations’ on Iran.Yesterday, reports highlighted that Trump had given Iran a two-month deadline to make a nuclear deal but indications so far are that Iran isn’t interested in talking.So the question is: What will the US and Israel do next?There continues to be talk about strikes on Iran’s nuclear facilities, and perhaps something even broader.WTI crude oil is up $1.07 to $68.29 today. Source link

Mexican Peso drops 0.46%, reaching a six-day high of 20.26 following INEGI reports of weak Aggregate Demand and plummeting Private Spending. The Fed maintains steady rates; Powell highlights rising economic uncertainty and inflation risks from tariffs. US data shows mixed signals; jobless claims increase, Philadelphia Fed Manufacturing Index indicates economic slowdown. The Mexican Peso (MXN) is extending its losses versus the US Dollar (USD) on Thursday, as Mexico’s economic data paints a gloomy outlook. At the same time, traders continued to assess the latest Federal Reserve (Fed) monetary policy decision. USD/MXN is trading at 20.13, up 0.46%. The Peso weakened…

Dollar rises as Fed signals it is in no rush to cut rates Source link

Fundamental OverviewThe FOMC decision didn’t provide anything new. In fact, the Fed delivered on expectations with no surprises whatsoever. The central bank kept rates steady, reduced the QT pace, revised growth lower and inflation higher, and kept the dot plot mostly unchanged. Fed Chair Powell acknowledged the current uncertainty around Trump’s policies and the inflation outlook but confirmed that the economy remains healthy, and the Fed is in a good position to wait for more clarity. The only noteworthy comment was the dismissal of the rise in the long-term inflation expectations in the University of Michigan Consumer Sentiment survey as…

European natural gas prices rallied yesterday, with the Title Transfer Facility (TTF) settling almost 6.4% higher, amid fading hopes for a partial resumption in Russian gas flows to Europe, ING’s commodity analysts Warren Patterson and Ewa Manthey note. Russia agrees to stop attacking Ukrainian energy infrastructure for 30 days “Russia failed to agree to an unconditional ceasefire with Ukraine; it only agreed to stop attacks on Ukrainian energy infrastructure for 30 days. Investment funds, which had been heavily selling TTF in recent weeks, reversed course over the last reporting week, buying 1TWh to leave them with a net long of…