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Silver (XAG/USD) price edges up over 0.50% during Friday’s session, after bouncing off a daily low of $73.95. Speculation about a resumption of negotiations between Washington and Tehran is cheered by investors, which pushed US equities higher in tandem with the precious metals segment. At the time of writing, the XAG/USD pair trades at $75.83,XAG/USD Price Analysis: Technical outlookTechnically, Silver is poised to consolidate within the 20- and 100-day Simple Moving Averages (SMAs), both at $75.64. Worth noting that since bottoming at around $61.02 on March 23, the white metal continued to record higher lows, an indication that the uptrend…
OCBC strategists Sim Moh Siong and Christopher Wong note the central bank of Philippines Bangko Sentral ng Pilipinas’ (BSP) 25bp hike to 4.5% and guidance that further increases are possible as inflation forecasts are revised higher and second-round effects emerge. While this reduces the risk of BSP falling behind the curve and is relatively supportive for Philippine Peso (PHP), the Peso remains vulnerable to imported energy shocks and uncertain US‑Iran ceasefire dynamics.Higher rates versus energy vulnerability”More hikes not ruled out. BSP hiked policy rate by 25bp to 4.5% at its last MPC meeting (23 Apr). The Board now sees a…
TD Securities strategists, including Andrew Kelvin and colleagues, expect the Bank of Canada to keep the Overnight Rate at 2.25% through the April meeting and likely for the rest of 2026. They see the Bank striking a more balanced but still cautious tone, emphasizing two-sided growth risks from higher Oil prices and USMCA renegotiation while looking through near-term inflation spikes.BoC seen on extended hold with neutral tone”We look for the Bank of Canada to hold rates at 2.25% as the policy statement strikes another cautious tone. Higher energy prices will drive a sharp upgrade to the Bank’s inflation forecast in…
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 full renewed hiking cycle.BoE seen on hold with cautious bias”With markets having stabilised in recent weeks, we expect the MPC to keep Bank Rate unchanged at 3.75% at the April meeting and to reiterate the vigilant stance set out in March.””Even…
EUR/GBP trades in a tight range on Friday, fluctuating between minor gains and losses as markets show a muted reaction to the latest economic data, with traders remaining focused on geopolitical developments surrounding the US and Iran. At the time of writing, the cross is hovering around 0.8671, broadly flat on the day and on track for a third consecutive weekly decline.The British Pound is finding support from stronger-than-expected Retail Sales data, while the Euro remains under pressure after Germany’s latest IFO Business Climate Index came in weaker across the board, highlighting deteriorating business sentiment, as rising energy prices and…
BNY’s Bob Savage reports that Oil remains a key market barometer as the Iran war disrupts supply, with Brent up sharply and the International Energy Agency warning that the global natural gas market will stay tight for at least two more years. The conflict has removed significant oil and LNG capacity, delaying new LNG expansion and reinforcing a prolonged period of constrained energy markets.Iran conflict and IEA gas projections”Oil remains the barometer, but fears of any U.S./Iran weekend escalation are looked through as the narrative continues to see a deal in the making.””The global natural gas market is expected to…
The rupee extended its losing streak for the fifth day in a row, depreciating 22 paise to close at 94.23 (provisional) against the US dollar on Friday due to higher crude oil prices and strengthening American currency, with prospects of West Asia peace talks hanging in the balance.Despite a ceasefire being in place between the United States and Iran, ship movement through the Strait of Hormuz remained uncertain, unsettling the global fuel prices, while the upheaval triggered a massive selling in domestic equity markets and outflow of foreign funds, forex analysts said.President Donald Trump has also ordered the US military…
The Indian rupee declined in all five trading sessions to log its steepest week-on-week loss since September 2022, as worries over the fragility of a U.S.-Iran ceasefire and disrupted energy flows sparked a renewed surge in oil prices.The rupee closed at 94.2475 on Friday, down 1.4% on the week.Regulatory measures by the Reserve Bank of India and optimism over an end to hostilities in the Middle East granted the rupee some breathing room last week, but it proved fleeting as oil prices resumed their upward march with hopes of peace talks ebbing and flowing.India’s benchmark equity index, the Nifty 50,…
Dow Jones futures pares its daily losses but remain in the negative territory, declining by 0.13%, trading above 49,400 during the European hours on Friday, ahead of the United States (US) regular opening. Meanwhile, S&P 500 and Nasdaq 100 futures inch higher 0.13% and 0.62% to near 7,150 and 27,100, respectively.US stock futures traded mixed after US President Donald Trump said Israel and Lebanon agreed to extend their ceasefire by three weeks. Lebanon is expected to seek a one-month extension in a second round of direct talks in Washington, though Israel’s UN Ambassador Danny Danon said that the outcome is…
The rupee’s valuation versus other major currencies calculated on a trade-weighted basis has fallen to its lowest in more than a decade, hit by the Iran war-driven surge in crude oil prices and chunky foreign portfolio outflows.The South Asian currency’s 40-currency real effective exchange rate, which accounts for inflation differentials between different economies, fell to 92.72, the Reserve Bank of India’s latest bulletin released late on Thursday showed.The REER is now hovering well below its long-run average of 98.25, pointing to a deeply undervalued rupee against historical norms.Relatively subdued inflation in India has weighed on the REER in recent months,…