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Overnight and premarketDow Jones Industrial Average (DJIA) futures spent the overnight session in a tight range between 49,600 and 49,700, with little appetite to pick a side ahead of the April Consumer Price Index (CPI). That calm broke at 12:30 GMT, when the report landed hotter than expected and sent futures roughly 400 points lower inside a single 15-minute candle. The contract has since clawed back about half the move, trading back above 49,500, but the rate cut narrative that drove the first quarter just took another body blow.Sticky inflation, stickier coreHeadline CPI rose 0.6% MoM in April, matching consensus,…
The central bank is believed to have intervened, leading to a pull back in the Rupee. | Photo Credit: FRANCIS MASCARENHAS The Rupee sank to a record low as the US and Iran hardened their stand on ending the West Asia war, sending crude oil prices higher and accentuating FPI sales in the domestic stock markets.The Indian currency closed 32 paise down at an all time low of 95.6275 per US Dollar. Intraday, it fell to a record low 95.7375 per dollar, surpassing the previous low of 95.4325.The central bank is believed to have intervened, leading to a pull back…
Annual inflation in the United States (US), as measured by the change in the Consumer Price Index (CPI), climbed to 3.8% in April, the US Bureau of Labor Statistics (BLS) reported on Tuesday. Developing story, please refresh the page for updates.This section below was published as a preview of the US Consumer Price Index (CPI) data at 04:00 GMT.The US Consumer Price Index is expected to rise 3.7% YoY in April as energy prices remain persistently high.Annual core CPI inflation is expected to edge slightly higher to 2.7%.EUR/USD’s technical outlook highlights a bullish stance that lacks momentum. The US Bureau of…
NZD/USD extends its losses for the second successive day, trading around 0.5940 during the early European hours on Tuesday. The pair depreciates as the US Dollar (USD) strengthens on the back of renewed United States (US)-Iran tensions.Global investors are pivoting toward safe-haven assets following reports of deteriorating diplomatic relations in the Middle East. The shift in sentiment comes as market participants weigh the possibility of a return to major combat operations, a move that typically triggers a flight to quality and bolsters the Greenback against more sensitive currency valuations.According to a CNN report released Monday, US President Donald Trump has…
The rupee hit an all-time low on Tuesday, weighed by expectations of prolonged high crude prices, persistent portfolio outflows and weakening sentiment.The rupee opened at 95.50 versus the U.S. dollar, slipping past its previous record low of 95.4325 hit last week.The currency extended its fall to 95.6250, taking losses since the Iran war broke out to 5.2%. The central bank stepped in to smooth the rupee’s fall.The rupee and other currencies of oil-importing countries have been among the hardest hit following a 46% surge in Brent crude prices triggered by the Iran war. Alongside the rupee, the Philippine peso and…
Gold (XAU/USD) retreats from a three-week high, touched during the Asian session on Tuesday, as traders await the release of the latest US consumer inflation figures before positioning for the next leg of a directional move. In the meantime, the incoming negative headlines surrounding the Middle East crisis dampen hopes for a US-Iran peace deal and benefit the US Dollar’s (USD) reserve currency status. Furthermore, a diplomatic setback remains supportive of elevated Crude Oil prices, fueling inflationary concerns and bets for more hawkish central banks, including the US Federal Reserve (Fed). This contributes to a modest USD uptick and caps…
Iranian Parliament speaker Mohammad Bagher Ghalibaf warned on Monday that Iran’s military was fully prepared to retaliate against any future attacks after rising tensions threatened the fragile ceasefire in the Middle East, Reuters reported. Ghalibaf said on X that Iran’s armed forces remained on high alert and capable of responding decisively to any aggression.Earlier Monday, US President Donald Trump said the ceasefire between the United States (US) and Iran is on “massive life support” after he rejected Tehran’s latest peace offer, which he called “simply unacceptable,” Bloomberg reported on Monday.Iran responded to latthe latest peace proposal by demanding a lifting of Washington’s…
US equity index futures opened the week little changed as Wall Street weighed a renewed flare-up in the US-Iran standoff against this week’s marquee inflation print. Dow Jones Industrial Average (DJIA) futures hugged the flat line above 49,500 in premarket trade, with the S&P 500 ticking marginally lower and the Nasdaq Composite softer after Friday’s record-setting close. The Russell 2000 outperformed, helped by a bid for energy and small-cap industrials.Trump rejects Iran offer, Oil spikesPresident Trump on Sunday torpedoed Iran’s response to the latest US ceasefire proposal, calling it “totally unacceptable” on social media and warning that the truce was…
The rupee on Monday suffered its biggest single-day decline in nearly one-and-a-half months and closed at a record low as proposals floated by the US to end the West Asia war did not find favour with Iran, leading to spike in crude oil prices and exacerbating FPI-related dollar outflows from domestic equities.Moreover, Prime Minister Narendra Modi’s weekend speech about the need to conserve foreign exchange through austerity measures such as reducing petrol and diesel consumption by reluing more public transport, reducing or postponing gold purchases for a year and avoiding unnecessary overseas travel.The rupee closed at an all-time low of…
BNP Paribas economists project Eurozone Gross Domestic Product (GDP) growth slowing from 1.5% in 2025 to 1.0% in 2026 and 1.3% in 2027, with inflation rebounding to 3.0% and 3.3%. Activity is expected to withstand the energy shock thanks to investment in defence, AI and electrification. They anticipate two 25 bp ECB rate hikes in 2026, lifting the deposit rate to 2.5%.Growth slows as ECB turns tighter”Eurozone growth would slow due to spillovers from the Middle East conflict.””GDP growth, which reached 1.5% in 2025, would slow down to 1.0% in 2026 and 1.3% in 2027, while inflation would rebound to…