Forex
Brown Brothers Harriman’s (BBH) Elias Haddad highlights that USD/JPY is trading directionless just below 159.00 as Japanese inflation slowed in February but is expected to rebound.
West Texas Intermediate (WTI), futures on NYMEX, is up 2% to near $90.00 during the European trading session on Tuesday. The oil price holds early gains, driven by Iran’s refusal to be involved in any direct talks with the United States (US) regarding the end of conflicts in the Middle East.
Forex
OCBC strategists Sim Moh Siong and Christopher Wong stay constructive on the Australian Dollar (AUD) despite recent risk-off pressure from higher energy prices. They highlight above-target inflation, resilient domestic activity and a more hawkish Reserve Bank of Australia (RBA) as key supports.
Indices
Dow Jones Industrial Average remains under pressure after breaking below its 200-day moving average, with the recent TACO-driven rebound likely a dead cat bounce. The VIX/MOVE ratio signals unresolved rate volatility, pointing to further downside risk unless 46,710 resistance is reclaimed.
Forex
The United Kingdom (UK) docket has the preliminary Purchasing Managers’ Index (PMI) data for March to be released by the S&P Global on Tuesday, later this session at 09:30 GMT.
Commodities
Geopolitical tensions return after Iran denies US talks, sending oil up 4% and Asian markets tumbling. European shares eye a lower open as the dollar strengthens on safe-haven demand and diminished rate-cut hopes. Meanwhile, Japan's core inflation cools below the 2% target for the first time in four years.
Forex
The USD/CAD pair trades 0.25% higher to near 1.3760 during the early European session on Tuesday, the highest level seen in almost two months.
Forex
The EUR/USD pair loses momentum to near 1.1580 during the early European session on Tuesday. The Euro (EUR) weakens against the Greenback as escalating geopolitical tensions in the Middle East drive traders toward a safe-haven currency.
Forex
The EUR/JPY cross loses ground to near 183.85 during the early European session on Tuesday. The Japanese Yen (JPY) strengthens against the Euro (EUR) amid the ongoing conflict in the Middle East, which boosts safe-haven flows.
Forex
NZD/USD has pared its recent gains from the previous day, trading around 0.5830 during the Asian session on Tuesday. The pair depreciates as the US Dollar (USD) gains on increased risk aversion after the Israeli military said it had launched a fresh wave of strikes on Tehran.
