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GBP/USD halts its seven-day winning streak, trading around 1.3560 during the Asian hours on Wednesday. The pair loses ground as the US Dollar (USD) edges higher despite dampened safe-haven demand amid growing market optimism amid hopes for a diplomatic solution to the Middle East conflict.The United States (US) and Iran are reportedly preparing for a second round of peace talks ahead of the current two-week ceasefire deadline, even as escalating tensions in the Strait of Hormuz continue to heighten global energy risks. US President Donald Trump signaled negotiations could resume this week, while also opposing a 20-year suspension of Iran’s…

DBS economist Chua Han Teng highlights that Singapore’s 1Q26 GDP growth was resilient, with real GDP up 4.6% year-on-year, but warns that the Iran war shock and global slowdown pose downside risks. DBS maintains its 2026 real GDP growth forecast at 2.8%, broadly aligned with MAS expectations for the output gap to average around zero as growth slows through 2026.Firm start but outlook softens”Singapore’s economy entered 2026 on a firm footing, reflected in resilient real GDP growth of 4.6% yoy and -0.3% qoq sa in 1Q26 (but slower than 5.7% yoy and 1.3% qoq sa in 4Q25), according to MTI’s…

Silver (XAG/USD) surges on Tuesday, trading around $78.80 at the time of writing, up 4.16% on the day as strong buying interest pushed Silver to a daily high of $79.32. The white metal rebounds sharply after touching lows near $72.60 on Monday, benefiting from a broad weakening of the US Dollar (USD) and improving market sentiment.Precious metals are gaining ground as investors also react to softer-than-expected inflation data in the United States (US). The Producer Price Index (PPI) published by the US Bureau of Labor Statistics earlier in the day, shows that annual producer inflation rose by 4% in March,…

TD Securities analysts highlight a hawkish shift from the Reserve Bank of Australia (RBA) after Deputy Governor Hauser signaled limited confidence that current policy is sufficient to return inflation to target. They now forecast a 25 bps rate hike at the next meeting and warn the cash rate may need to rise above 4.35% if Oil-driven inflation persists.RBA signals scope for further tightening”The RBA Deputy Governor indicated that the RBA Board does not have “high confidence” that the cash rate is at a level consistent with bringing inflation back to the 2-3% inflation target in comments at a Fireside chat…

ING’s Francesco Pesole highlights that ECB President Christine Lagarde and other Governing Council members are expected to maintain a broadly hawkish tone given Gulf volatility. Markets price modest tightening at the 30 April meeting and two further hikes this year. ING argues that clear progress in US‑Iran talks is needed to sustainably lift EUR/USD above 1.180.Lagarde remarks and Gulf risks guide Euro”ECB President Christine Lagarde will speak tonight in Washington. A few other Governing Council speakers are scheduled for earlier in the day. We would expect ECB officials to reiterate a broadly hawkish tone considering the lingering volatility in the…

The dollar erased gains after President Donald Trump said Iran called Monday morning and wants a deal. The remarks follow Trump’s order over the weekend to block the Strait of Hormuz following the deadlock in US-Iran peace talks that pushed oil prices higher.The Bloomberg Dollar Spot Index fell 0.1 per cent. Earlier in the session the gauge was up as much as 0.5 per cent. The Japanese yen was the only among its peers in the Group of 10 against the greenback to weaken. “I think we have established the top and bottom for the dollar and G-10 currencies,” said Paresh…

Silver (XAG/USD) builds on the previous day’s bounce from the vicinity of mid-$72.00s and gains some follow-through positive traction during the Asian session on Tuesday. The white metal climbs to the $76.80 region in the last hour, with bulls looking to build on an intraday breakout momentum above the 200-period Exponential Moving Average (EMA) on the 4-hour chart.The XAG/USD is also trading comfortably above the 38.2% Fibonacci retracement level of the downfall in March, reinforcing the underlying constructive bullish outlook. Adding to this, a firm Relative Strength Index (RSI) near 60 and a marginally positive Moving Average Convergence Divergence (MACD)…

GBP/USD opened the new week on the soft side, dipping to a session low near 1.3380, but staged a strong recovery through Monday’s session to close around 1.3510, up 0.35% on the day. The move pushed the pair to its highest level since late February, decisively reclaiming the 1.3500 handle for the first time since the sell-off that followed the outbreak of the Iran conflict. The pair has now rallied over 350 pips from the early April low close to 1.3160, erasing roughly half of the decline from the year-to-date high near 1.3870.President Trump’s announcement of a US blockade of…

The USD/JPY pair is trading with a neutral tone near 159.70 on Tuesday, up 0.27%, as markets react to a dramatic escalation in geopolitical tensions following headlines that the United States (US) has moved to effectively shut down traffic through the Strait of Hormuz.On the one hand, the Japanese Yen (JPY) is capping upside in the US Dollar (USD) amid traditional safe-haven inflows as investors seek protection amid rising geopolitical uncertainty. On the other hand, Japan’s heavy reliance on imported energy leaves it particularly exposed to a sustained spike in Oil prices. Meanwhile, the USD is drawing strong support from…

ING’s Ewa Manthey and Warren Patterson report that Oil markets rallied sharply after US-Iran talks collapsed, with ICE Brent jumping over 9% and NYMEX WTI moving above $105/bbl. The US plans a maritime blockade around Iranian ports, stoking supply fears. Positioning data show diverging speculative interest in Brent and WTI ahead of OPEC’s monthly report.Oil rallies on US blockade threat”Oil markets rallied sharply on Monday after US-Iran talks collapsed over the weekend. ICE Brent jumped more than 9% in early trade, while NYMEX WTI pushed above $105/bbl. In response, the US military plans to implement a blockade of all maritime…