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Silver (XAG/USD) price advances more than 2.50% on Friday, set to end the week with gains of over 7% sponsored by US Dollar (USD) weakness and falling Oil prices. At the time of writing, XAG/USD trades at $80.72, after bouncing off daily lows of $78.16.XAG/USD Price Analysis: Technical outlookSilver is testing the weekly high reached on Thursday at $82.13, but so far has failed to clear it. Momentum remains bullish, as indicated by the Relative Strength Index (RSI), but they must clear key overhead resistance.On the upside, the first key resistance is $80.50. Once cleared, the next areas of interest…
Wells Fargo Economics projects Brazil’s April IPCA inflation to rise 0.9% month-over-month and around 4.5% year-over-year, near or above the target band. Energy and food pressures are intensifying, while inflation expectations have risen. The Brazilian Central Bank is still seen cutting rates cautiously in June, but a pause in the easing cycle is becoming more likely.Energy and food drive inflation risks”We expect Brazil’s April IPCA to rise a sharp 0.9% month-over-month, pushing headline inflation to around or slightly above the top of the target band at 4.5% year-over-year.””Energy remains the key near‑term upside risk, with the Middle East conflict lingering…
MUFG economists Lin Li, Michael Wan, Lloyd Chan and Khang Sek Lee outline a base case where the reopening of the Strait of Hormuz by end‑May eases pressures on Asian currencies. They see Asia growth softening near term but stabilizing in H2 2026, with inflation contained and most central banks keeping neutral‑accommodative stances. They also sketch an adverse scenario with broad Asia FX depreciation.Base and adverse scenarios for Asia FX”A base case, where the Iran war and the Hormuz disruption unwind approaching end of May, is our core case. Asia growth softens slightly in near term but stabilizes into 2H2026…
Indian investors continue to pile up their bets on Gold via Exchange Traded Funds (ETFs), contributing to the rebound in demand for the precious metal as spot prices stabilize after March’s sharp decline.India’s Gold ETFs extended their inflow streak to an eleventh consecutive month in April. Net inflows recorded $297.2 million, 68% more than the $176.6 million seen in March, according to data from the World Gold Council (WGC).Indian Gold ETFs have been registering inflows since May 2025, with a peak seen in January. Source: FXStreet using data from the World Gold Council.The interest of Indian investors in Gold ETFs…
West Texas Intermediate (WTI), the US crude Oil benchmark, falls some 2.49% on Friday, poised to end the week with losses of over 7.39%, amid growing speculation that the US and Iran will reach an agreement to end the conflict.Oil heads for weekly loss as Hormuz reopening hopes growMarket mood remains positive, even as tensions rise after the US and Iran exchanged fire overnight. In the meantime, Washington waits for Tehran’s response to the 14-point memorandum, which, according to US Secretary of State Marco Rubio, would be ready later in the day.Analysts cited by Reuters reported that the Oil trade…
Commerzbank’s Thu Lan Nguyen argues that any relief from a potential reopening of the Strait of Hormuz for Aluminium will likely be short‑lived. Guinea, which supplies 40% of global bauxite, plans to cap exports at 150 million tons, nearly 20% below last year, a move expected to support bauxite prices and, over time, Aluminium prices.Guinea quota tightens raw material availability”However, a reopening of the Strait of Hormuz could turn out to provide only short-term relief. Over the course of the year, a shortage is emerging in a key raw material for aluminium production: the government of Guinea, the market leader…
EUR/USD edges higher during the North American session on Friday amid heightened tensions in the Middle East, even though a solid US jobs report might prevent the Federal Reserve (Fed) from cutting rates in the upcoming months. At the time of writing, the pair trades at 1.1775, up 0.44%.Euro gains as geopolitical fears outweigh upbeat US payrollsTensions around the US-Iran conflict heightened as they exchanged strikes for control of the Strait of Hormuz. In the meantime, US Secretary of State Marco Rubio said they’re waiting for Tehran’s response to the 14-point memorandum, aimed at extending the ceasefire and reopening the…
Rupee strengthened this week on the back of nascent optimism regarding a US-Iran peace deal but renewed hostilities threatened to yet again sway the outlook for Asian currency.Volatility expectations for the rupee drifted higher as investors remained on tenterhooks for the next chapter in the more than two-month-long war that had upended the macroeconomic outlook for oil importers such as India.A flare-up in fighting occurred on Thursday as Washington awaited a response from Tehran to its proposal to end the conflict. US President Trump said a ceasefire is still in effect.The rupee declined nearly 94.70 to the dollar before paring…
ING analysts Ewa Manthey and Warren Patterson note that ICE Brent and NYMEX WTI have rebounded after three sessions of losses as renewed US‑Iran tensions in the Strait of Hormuz lift the risk premium. They highlight constrained flows through the key shipping chokepoint and see Oil prices remaining highly sensitive to geopolitical headlines in coming sessions.Crude supported by Hormuz disruptions”ICE Brent and NYMEX WTI moved higher on Friday morning after three straight sessions of losses, amid reports of renewed clashes between US and Iranian forces. Brent rose nearly 3% to just below USD 103/bbl. The rebound followed US strikes on…
Rabobank’s Senior Economist Maartje Wijffelaars highlights extreme volatility in Oil, with Brent dropping to $93 per barrel before spiking above $102 as shifting war headlines from Washington drive sentiment. He notes thin liquidity, algorithmic trading dominance and labels the recent fall from around $115 in Brent as premature, underlining ongoing risks around the Strait of Hormuz.Brent swings on war and liquidity”Oil markets are experiencing extreme volatility, reacting to every new – often conflicting – signal from the White House on the war’s outcome. Thin liquidity is amplifying these moves, as many traders have exited the market, leaving mostly algorithmic traders…