Despite the tricky situation in the Middle East, America’s top stock indices are lingering near all-time highs. Even though most analysts predict a recession is near, investors, or better said speculators, seem to ignore this. Higher inflation readings should force central bankers to raise the interest rates, thus provoking a global recession. But let me show you the top…
Now there is some real smoke around the idea that there is division in the Iranian delegation. Iran state media reports that Ghalibaf is out for including nuclear in negotiations (translated): According to information received by Iran International, Mohammad Bagher Ghalibaf, head of the Islamic Republic’s negotiating delegation with U.S. representatives in Islamabad, has resigned and stepped down from…
The US Dollar Index (DXY) is losing momentum near the 98.50 price zone and continues drifting lower from recent highs as markets unwind part of the recent US Dollar (USD) rally despite still strong United States (US) data and ongoing Middle East tensions. Profit-taking into the weekend, alongside a modest pullback in US yields, is weighing on the Greenback…
Gold fell during the week’s worst escalation. Five central banks, a Warsh confirmation vote, US GDP, and stalled Hormuz peace talks define the week ahead.
Iran foreign minister Aragchi travelled to Oman as expected on the weekend but then returned to Pakistan, according to reports. There are also reports that there has been some progress on the nuclear file, with the US accepting a moratorium on the enrichment ban or some kind of phased enrichment after 10 years. The comment from Trump is positive,…
Rabobank’s Senior Macro Strategist Stefan Koopman expects the Bank of England’s (BoE) Monetary Policy Committee (MPC) to leave Bank Rate at 3.75% at the April meeting, maintaining its vigilant stance. Koopman notes weaker domestic demand, already restrictive policy and lower-than-expected energy prices, which may slightly reduce near-term inflation forecasts, while still anticipating one additional rate hike rather than a…
Mon: German GfK Consumer Confidence (May), US Dallas Fed Manufacturing Index (Apr) Tue: BoJ Policy Announcement (Apr), Spanish/Italian Retail Sales (Mar), Italian PPI (Mar), US ADP Weekly Employment Change, US House Price Index (Feb), US CB Consumer Confidence (Apr), US Richmond Fed Index (Apr), US Dallas Fed Index (Apr) Wed: Fed Policy Announcement (Apr), BoC Policy Announcement (Apr), BCB…
Australia CFTC AUD NC Net Positions: $64.8K vs previous $65.1K
The USDCHF moved higher earlier today, but that upside momentum has stalled and the pair has backed off its highs as the USD comes under pressure. Headlines about Iran sending a delegation to Pakistan helped shift the tone, and the greenback has rotated lower as a result. Even so, USDCHF is still clinging to modest gains, up about 0.04%…
United States CFTC S&P 500 NC Net Positions climbed from previous $-115.8K to $-110.1K
