Trading news

Commerzbank economist Bernd Weidensteiner notes that the Federal Reserve sees itself in a good position despite Iran‑related inflation risks, with officials expecting only a small core inflation impact.

Deutsche Bank economists expect a sharp acceleration in US CPI for March as higher gasoline prices feed through. They project headline CPI at 0.95% month‑on‑month, the strongest since June 2022, lifting the annual rate back to 3.4%.

Silver prices (XAG/USD) fell on Friday, according to FXStreet data. Silver trades at $75.16 per troy ounce, down 0.23% from the $75.33 it cost on Thursday.

Nordea’s Jan von Gerich and Tuuli Koivu updated their ECB outlook before the ceasefire news and now expect four 25bp hikes starting in June.

ING strategists Ewa Manthey and Warren Patterson highlight that Gold is edging higher and on track for a third consecutive weekly gain, supported by diplomatic optimism on Iran, central‑bank demand and rising inflation expectations.

The Australian Dollar (AUD) trims gains on Friday as the US-Iran peace truce staggers. Cautious markets feature a mild return to the US Dollar’s (USD) safety following a risk-on week, and pulling the AUD/USD down from three-week highs near 0.7090 to session lows around 0.7060 so far.

Rabobank’s RaboResearch Global Economics & Markets team notes that Brent crude has firmed as markets weigh a fragile ceasefire between the United States and Iran and severe disruption in the Strait of Hormuz.

Silver price (XAG/USD) trades in a tight range around $75.00 during the European trading session on Friday.

UBS economist Paul Donovan discusses how US March consumer price inflation highlights US consumers’ war-related burden and affordability concerns.

United Overseas Bank’s (UOB) economists Quek Ser Leang and Lee Sue Ann note AUD/USD broke above the prior range, reaching near 0.7100. Despite labeling the recent surge as overdone, they still see room for a push toward 0.7135, with 0.7000 now the key strong support.

Commerzbank analysts Michael Pfister and Norman Liebke highlight that Brazil’s inflation edged higher in February, and they expect today’s March data to show another fairly sharp rise in prices.

Oil prices are ticking up for the second consecutive day on Friday. The US benchmark West Texas Intermediate (WTI) Oil has returned to levels near $93.00 per barrel, as restrictions in the Strait of Hormuz keep a de facto blockade in place, adding strain to an already frail ceasefire deal in Iran.

ING’s Francesco Pesole notes that the US Dollar Index remains just below 99.0, with further downside seen if a permanent Middle East peace deal is agreed and Strait of Hormuz flows resume.

Italy Industrial Output s.a. (MoM) below forecasts (0.5%) in February: Actual (0.1%)

Italy Industrial Output w.d.a (YoY) in line with forecasts (0.5%) in February

According to a report from the Guardian, Israel Defense Forces (IDF) chief of staff, Eyal Zamir, said that forces are continuing their combat operations in southern Lebanon and are “not in a ceasefire” with Hezbollah.

BNY’s Head of Markets Macro Strategy Bob Savage argues that Q1 US equities will be driven more by forward guidance than reported earnings, with consensus S&P 500 earnings growth around 13% and wide dispersion in forecasts.

The USD/CAD pair rebounds to near 1.3833 from the two-week low of 1.3805 on Friday after snapping a four-day losing streak.

AUD/JPY edges lower after four days of losses, trading around 112.50 during the European hours on Friday. The currency cross remains subdued as the Australian Dollar (AUD) holds losses following the release of Chinese Consumer Price Index (CPI) data for March.

The GBP/JPY cross trades with a positive bias for the fifth consecutive day and hits a fresh one-month high, around the 133.85 area, during the early European session on Friday.