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Forex Yesterday was a topsy-turvy day in the markets, owing entirely to the continued uncertainty in the Middle East. With the ceasefire deadline looming, there was initial negativity when it emerged Iran would not be in Pakistan on Tuesday for talks and VP Vance canceled his trip. Then we received word there may be some progress, and Trump released a message to advise there will be an extension to a ceasefire while talks continue. While this calmed the uncertainty somewhat,

Forex The market was uncertain yesterday, with mixed moves for almost all currencies. The USD pulled back a little of its previous losses on weekend gaps before the market filled some of these, echoing the oil markets that gapped higher over the weekend before falling away a little during the day. The CAD saw its CPI numbers released lower than expected yesterday, whilst NZD's CPI figures overnight were slightly above expectations. Both had some effect on their respective cur

Forex On Friday, Trump announced the Strait of Hormuz was open, pushing the DXY to a seven-week low, before the realization that the reopening was only partial pulled back some of that move. Oil fell to less than $80 per barrel at that time, before recovering to just under $88 by Monday morning. This is the story for most of the USD pairs: a strong move against the Dollar on Friday before a retracement leading to Monday's open. Any future move is, at the moment, almost entire

Forex The initial euphoria of the ceasefire and Trump's 'over soon' comments wore off a little yesterday, with currency markets mixed in anticipation of an extension of the 2-week ceasefire due to end on the 22nd of Apr. Markets are in a wait-and-see pattern for the outcome of the talks, which should be a good strategy to follow over what could be a pivotal weekend. The USD recovered some of its losses on the week, but remains sensitive to news coming from Iran and the Middle

A positive day in the markets for risk-on assets overall yesterday, which seems to be mainly driven by traders pricing in the end of the war in Iran. Forex Yesterday saw a continuation of the slide in the US Dollar and a move away from safe havens, backed by a sentiment shift towards the Iran war being nearly over. While comments on social media from Trump back this up, the main driver behind the shift seems to come from rumors of an agreement in principle to extend the cease