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The NZD/USD pair attracts some sellers following a modest Asian session rise to the 0.5760 area, or the weekly top, and stalls the previous day’s recovery move from over a four-month low. Spot prices slide to the 0.730 region in the last hour and seem vulnerable to prolonging the downtrend witnessed over the past two months or so.The optimism led by US President Donald Trump’s signal that the US would wind down current hostilities with Iran within two to three weeks remains limited amid reports that the UAE is pushing for military action to reopen the Strait of Hormuz. Adding…

India’s rupee may weaken to a record 100 per dollar or beyond if the Iran war drags on, with strategists warning that authorities’ efforts to slow its roughly 10% drop over the past year may only provide temporary relief.Analysts at Wells Fargo and Van Eck Associates Corp. say elevated oil prices will accelerate the rupee’s decline by worsening inflation and the current-account deficit. Options markets echo that view, with pricing suggesting further losses and signaling expectations of a move toward 100.Already one of Asia’s worst performers against the dollar this year, the rupee’s slide has spurred the Reserve Bank of…

TD Securities’ Global Strategy Team reports that China’s March PMIs moved back into expansion, with Manufacturing and Non-manufacturing both beating expectations. They attribute the rebound partly to firms front-loading orders due to the US-Iran war and caution that a sustained recovery is unlikely without significant policy support, especially with construction still in contraction.Expansionary PMIs tempered by policy doubts”China PMIs rebounded into expansion (>50) in March, with both indices surpassing expectations.””Manufacturing PMI came in at 50.4 (cons: 50.1, prior: 49), led by big jumps in output and new orders.””This tracks closely to the rebound in these categories from global PMIs as…

The Pound Sterling registers modest gains after Iran’s IRGC threatened to attack US companies as of April 1, turning market mood sour, while the US Dollar trimmed some of its earlier losses. Nevertheless, the move was short-lived as the GBP/USD traded at 1.3190, up 0.04%.Sterling gains as soft JOLTS counters Iran threat and DollarIran’s state media reported that Iran’s Islamic Revolutionary Guard Corps (IRGC) would target US companies within the region in retaliation for attacks on Iran. Some of the names targeted are Microsoft, Apple, Google, Intel and Boeing among the 18 companies warned by the IRGC.In the headline, the…

BNY’s Head of Markets Macro Strategy Bob Savage notes that the Indian Rupee (INR) faces continued pressure, recording the highest level of realized selling among Asia-Pacific (APAC) currencies in March. Despite the significant sell-off, BNY’s tracking indicates that actual positioning remains largely flat, as the currency was previously heavily overheld for carry strategies. Savage highlights that a true value opportunity will only materialize if the currency transitions into underheld territory.Assessing the risk reward payoff”On a monthly average basis within APAC (and measured against other currencies in iFlow), INR was the most-sold currency on a realized basis.””On a holdings basis, monthly…

Dow Jones futures rise, up by 0.81%, above 45,800 during European hours, ahead of the United States (US) regular market open on Tuesday. Meanwhile, S&P 500 and Nasdaq 100 futures advance 0.78% and 0.54% to near 6,440 and 23,260, respectively, at the time of writing.US stock futures advanced as easing risk aversion and lower oil prices lifted market sentiment, driven by rising expectations that US President Donald Trump could bring the Iran conflict to an end. The Wall Street Journal reported that Trump indicated to aides he may stop the campaign even if the Strait of Hormuz remains largely closed.…

Amid sharp volatility in the currency markets and pressure on the Indian rupee, a report by the State Bank of India has suggested that oil marketing companies (OMCs) should be provided a special foreign exchange (FX) window to help stabilise the currency.The report noted that with the rupee witnessing sharp depreciation in a volatile global environment, the large and regular dollar demand from OMCs is adding to market pressure. It is recommended that regulators create a separate mechanism to isolate this demand from the broader market.“OMCs need to be offered a special window by the regulator that separates their daily…

The AUD/USD pair seesaws between tepid gains/minor losses during the Asian session on Tuesday and consolidates its recent losses registered over the past week or so, to its lowest level in over two months, touched the previous day. Spot prices currently trade around mid-0.6800s, nearly unchanged for the day, amid mixed fundamental cues.The Australian Dollar (AUD) draws some support from the hawkish Reserve Bank of Australia (RBA) meeting Minutes, showing that board members agreed further tightening would likely be needed. Adding to this, reviving hopes for a de-escalation of tensions in the Middle East boosts investors’ confidence, prompting a modest…

Mumbai: The rupee on Monday slumped to breach the psychologically crucial barrier of 95/$, upending market expectations of a stronger year-end showing, as it finished FY26 by retreating the most in 14 years – nearly 11%. The last month, coinciding with the Iran war, was particularly brutal and accounted for a 4% decline. The currency, which touched an all-time low of 95.21/$, had briefly advanced to 93.59/$ in the early hours, its strongest level on Monday. The trading amplitude for the unit was one of the widest Monday. Intervention from the Reserve Bank of India (RBI) in the last 15…

Silver price consolidates around the $70.00 mark for the third straight trading day, range-bound between $67.50 and $71.50, as buyers and sellers remain unable to push prices outside the range.XAG/USD Price Forecast: Technical OutlookThe bias in the short term is slightly bearish, with XAG/USD capped on the upside by the 100-day SMA at $74.11 and on the downside by the March 23 swing low at $61.02.Silver, since peaking at $96.39 on March 2, has printed a successive series of lower highs and lower lows, but the downtrend stalled as sellers failed to clear the $61.00 mark. Once XAG/USD bounced back…