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Gold ETFs post strong inflows in March and the first quarter – Commerzbank
Gold ETFs post strong inflows in March and the first quarter – Commerzbank
The March data on gold ETFs published by the World Gold Council this week showed a continued high buying interest among ETF investors, Commerzbank's commodity analyst Carsten Fritsch notes.
XAUUSD
Metals
Gold
Banks
EIA lowers forecast for global oil demand and US oil production – Commerzbank
EIA lowers forecast for global oil demand and US oil production – Commerzbank
Oversupply fears push oil price outlook lower
Oil
Energy
Brent
Banks
Large discrepancies between surveys on OPEC production in March – Commerzbank
Large discrepancies between surveys on OPEC production in March – Commerzbank
The OPEC production surveys by Reuters and Bloomberg again showed a considerable discrepancy for March, Commerzbank's commodity analyst Carsten Fritsch notes.
Oil
OPEC
Energy
Banks
USD/CNH: Any decline is unlikely to reach the major support at 7.2430 – UOB Group
USD/CNH: Any decline is unlikely to reach the major support at 7.2430 – UOB Group
Scope for US Dollar (USD) to continue to weaken vs Chinese Yuan (CNH); any decline is unlikely to reach the major support at 7.2430.
Technical Analysis
USDCNH
Banks
Russia exports less oil at lower prices – Commerzbank
Russia exports less oil at lower prices – Commerzbank
The price of Russian ESPO crude fell below $60 per barrel for the first time at the beginning of the week, while the price of Urals fell towards $50 per barrel, the lowest price level since March 2023, according to Reuters, Commerzbank's commodity analyst Carsten Fritsch notes.
Oil
Energy
RussianFederation
Banks
USD/JPY: Further USD weakness is not ruled out – UOB Group
USD/JPY: Further USD weakness is not ruled out – UOB Group
While deeply oversold, further USD weakness is not ruled out; next support level is at 142.50. In the longer run, renewed momentum suggests USD is likely to continue to decline; mid-term support levels are at 142.50 and 139.55, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
USDJPY
Banks
White house pressure threatens US Dollar stability – Commerzbank
White house pressure threatens US Dollar stability – Commerzbank
Despite the current turbulence in the US dollar, we see short-term recovery potential for the US currency.
Technical Analysis
EURUSD
Fed
Banks
DollarIndex
NZD/USD: A move to 0.5855 can be expected – UOB Group
NZD/USD: A move to 0.5855 can be expected – UOB Group
Further NZD strength is not ruled out, but it may not be able to maintain a foothold above 0.5785. In the longer run, upward momentum has increased, but NZD must first close above 0.5785 before a move to 0.5855 can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
Banks
NZDUSD
US: China’s manufacturing power worries the US – Commerzbank
US: China’s manufacturing power worries the US – Commerzbank
The US government has once again backtracked and rescinded the counter-tariffs it only introduced the day before yesterday.
China
TradeWar
UnitedStates
Banks
DollarIndex
Markets fade the latest China retaliation, at least for now
Markets fade the latest China retaliation, at least for now
Some calmer heads are seen for the time being
market overview
AUD/USD: Likely to strengthen further – UOB Group
AUD/USD: Likely to strengthen further – UOB Group
Australian Dollar (AUD) is likely to strengthen further, but the major resistance at 0.6290 still seems to be out of reach. In the longer run, for the time being, AUD is expected to trade in a 0.6000/0.6290 range, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
Banks
AUDUSD
EUR/USD remains well bid around 1.1350 ahead of US PPI
EUR/USD remains well bid around 1.1350 ahead of US PPI
The US Dollar (USD) took another hit at the end of the week, after China retaliated with 125% tariffs on imports of US goods starting as soon as on April 12.
Currencies
EURUSD
Fed
Majors
Inflation
Euro soars as US Dollar suffers historic drop – Commerzbank
Euro soars as US Dollar suffers historic drop – Commerzbank
The euro surged to multi-year highs against the dollar as markets reversed optimism from the tariff pause and grew increasingly wary of political and institutional risks in the US.
Banks
EURUSD
Technical Analysis
DollarIndex
Fundamental Analysis
ECB's Lagarde: ECB is ready to use instruments it has if needed
ECB's Lagarde: ECB is ready to use instruments it has if needed
Comments from the ECB President, Christine Lagarde
GBP/USD: Impulsive momentum suggests further GBP strength – UOB Group
GBP/USD: Impulsive momentum suggests further GBP strength – UOB Group
Impulsive momentum suggests further GBP strength; it remains to be seen if 1.3100 is within reach today. In the longer run, outlook for GBP has shifted to positive; the two technical levels to watch are 1.3210 and 1.3290, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
Banks
GBPUSD
Difficult to assess tariffs impact on euro area economy for now, says Dombrovskis
Difficult to assess tariffs impact on euro area economy for now, says Dombrovskis
Remarks by European commissioner for the economy and productivity, Valdis Dombrovskis
CHF: Betting on no SNB intervention – ING
CHF: Betting on no SNB intervention – ING
The Swiss franc had its biggest one-day rally since 2015 yesterday, emerging as the preferred recipient of safe-haven flows leaving the dollar.
Technical Analysis
USDCHF
Banks
USD/CAD collapses to fresh 2025 lows sub-1.3800
USD/CAD collapses to fresh 2025 lows sub-1.3800
The US Dollar (USD) plummeted during European trading hours on Friday, on news indicating China announced additional tariffs on the United States (US). On Thursday, the White House confirmed tariffs on China of 145%, higher than the 125% previously estimated.
BOC
TradeWar
USDCAD
Macroeconomics
RiskAversion
USD: The new high-beta in town – ING
USD: The new high-beta in town – ING
A mad week for markets is ending with heavy losses for the dollar. The FX scorecard is speaking volumes; in G10, only the illiquid Norwegian krone is flat against the dollar since last Friday.
Technical Analysis
Banks
DollarIndex
Another selloff in the stock market weighed on interest rates expectations
Another selloff in the stock market weighed on interest rates expectations
The sentiment and rate cuts bets change on a dime these days. Here's an update to the expectations.
market overview
China: What will it take to achieve the growth target? – Standard Chartered
China: What will it take to achieve the growth target? – Standard Chartered
The current US tariff rate will drag China’s GDP growth lower by c.1.8ppt. Any further increases in tariffs are likely to have little impact on China’s growth. Another CNY 1.5-2.0tn of fiscal support is needed, supported by moderately loose monetary policy, Standard Chartered's economists report.
Growth
GDP
China
Banks
GBP/USD climbs above 1.3100 on persistent USD weakness
GBP/USD climbs above 1.3100 on persistent USD weakness
After closing the third consecutive day in positive territory on Wednesday, GBP/USD preserves its bullish momentum and rises about 1% on the day at around 1.3100.
Technical Analysis
Currencies
Majors
Macroeconomics
GBPUSD
EUR/USD: Likely to rally further – UOB Group
EUR/USD: Likely to rally further – UOB Group
A break above 1.1275 could trigger further rally; the levels to monitor are 1.1350 and 1.1400. In the longer run, Euro (EUR) is likely to rally further; the levels to monitor are 1.1400 and 1.1450, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
EURUSD
Banks
Silver price today: Silver rises, according to FXStreet data
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Friday, according to FXStreet data.
Silver
Metals
Commodities
USD/JPY hits seven-month lows near 142.00 as the sell-off extends
USD/JPY hits seven-month lows near 142.00 as the sell-off extends
USD/JPY extends its losing momentum into the fourth consecutive day in European trading on Friday, having recorded its lowest level in seven months just above 142.00.
TradeWar
Philippines
USDJPY
RiskAversion
EUR: 1.15 not unreasonable for a near-term target – ING
EUR: 1.15 not unreasonable for a near-term target – ING
The Euro (USD) remains a key recipient of US Dollar (USD) outflows, and is currently trading around 1.125 after major overnight swings that saw it trade as high as 1.138.
Technical Analysis
EURUSD
Banks
 EUR/INR today: Indian Rupee cross rates edge higher at the start of the European session
EUR/INR today: Indian Rupee cross rates edge higher at the start of the European session
Indian Rupee (INR) crosses trade on the front foot at the beginning of Friday, according to FXStreet data.
USD/CHF slumps to weakest level since September 2011 below 0.8200
USD/CHF slumps to weakest level since September 2011 below 0.8200
After losing nearly 4% on the day on Thursday, USD/CHF continues to push lower on Friday and trades at its weakest level since September 2011 at around 0.8150.
Majors
USDCHF
Japan economy minister says to hold negotiations with US on tariffs on 17 April
Japan economy minister says to hold negotiations with US on tariffs on 17 April
Japan economy minister, Ryosei Akazawa, has been tasked to head trade talks with the US
This is the key line from China's retaliation you should focus on
This is the key line from China's retaliation you should focus on
China eventually retaliated hiking tariffs to 125% but it was followed with a key line that's more significant than the actual retaliation
market overview
ECB's Villeroy: Trump's economic and financial agenda is the wrong path
ECB's Villeroy: Trump's economic and financial agenda is the wrong path
European Central Bank (ECB) policymaker and  Bank of France head Francois Villeroy de Galhau said on Friday that US President Donald “Trump's economic and financial agenda is the wrong path.”
ECB
EURUSD
CentralBanks
InterestRate
Dollar extends drop as China doesn't blink first
Dollar extends drop as China doesn't blink first
The greenback falls to fresh lows as China hits back on the tariffs front
ECB's Villeroy: Trump's economic and financial agenda is wrong path
ECB's Villeroy: Trump's economic and financial agenda is wrong path
Remarks by ECB policymaker, Francois Villeroy de Galhau
 Palladium price today: Rare metals advance at the start of the European session
Palladium price today: Rare metals advance at the start of the European session
Platinum Group Metals (PGMs) trade with a positive tone at the beginning of Friday, according to FXStreet data. Palladium (XPD) changes hands at $923.74 a troy ounce, with the XPD/USD pair advancing from its previous close at $918.60.
Platinum
Palladium
Breaking: China raises additional tariffs on US goods to 125% from 84%
Breaking: China raises additional tariffs on US goods to 125% from 84%
China's Finance Ministry announced on Friday that they will raise additional tariffs on US imports from 84% to 125%, per Reuters, from April 12.
Breaking
China
UnitedStates
TradeWar
Some warning signs for US Dollar shorts
Some warning signs for US Dollar shorts
The sentiment around the greenback is getting too bearish and that's generally a warning sign
market overview
China says it will ignore the US if tariffs keep escalating
China says it will ignore the US if tariffs keep escalating
Beijing shows that it is not going to be the one to blink first