Trading news

MUFG’s Michael Wan flags a significant shift as China formally invokes its 2021 Blocking Statute for the first time, targeting recent US sanctions on five Chinese refineries linked to Iranian Oil.

Argentina Tax Revenue (MoM) fell from previous 16071B to 17B in April

OCBC strategists Sim Moh Siong and Christopher Wong report that USD/SGD fell into the New York close, helped by a sharp Brent decline and a pullback in USD/JPY, easing immediate inflation and yield concerns.

The US Dollar Index (DXY) holds a firm tone near the 98.40 price zone, supported by safe-haven demand amid ongoing Middle East hostilities that keep markets cautious, with headlines suggesting that Iran allegedly attacked a United States (US) military ship despite US denials.

Silver price (XAG/USD) tumbles over 3% on Monday as the Greenback rises due to its safe-haven appeal, as the US-Iran exchange blows in the Strait of Hormuz as the US Navy embarks on Trump’s Operation Freedom. The XAG/USD trades at $72.74 after reaching a high of $76.00.

UOB’s Enrico Tanuwidjaja and Vincentius Ming Shen note Indonesia’s April inflation slowed to 2.42% year-on-year, below expectations but within Bank Indonesia’s (BI) target. They highlight post-holiday normalization, contained energy inflation thanks to subsidized fuel, and steady core inflation.

Joachim Nagel, member of the European Central Bank (ECB) and President of the Bundesbank, spoke in Frankfurt am Main, Germany, on Monday. He said that the longer the Middle East conflict lasts, the greater the risk of high inflation will reimain without ECB intervention.

DBS Group Research economist Ma Tieying upgrades Taiwan’s 2026 GDP growth forecast to 9.4% from 7.0%, citing stronger-than-expected AI-driven exports and resilient ICT demand. The report notes robust first-quarter GDP and expects quarterly growth to moderate later in 2026.

John Williams, President of the Federal Reserve (Fed) Bank of New York, said in a prepared speech in Cynosure Group Spring Symposium in New York, United States (US), that there is no way to know yet how the Iran war impact will play out for the United States economy.

The Euro (EUR) trades on the back foot against the US Dollar (USD) on Monday as reports of renewed attacks in the Middle East lift the Greenback.

Standard Chartered’s Hunter Chan and Shuang Ding expect robust external demand to support China’s April industrial production and trade, even as services and construction soften. They see higher Oil prices lifting PPI and energy CPI, while headline CPI stays at 1% year-on-year.

Western Texas Intermediate (WTI), the US crude oil benchmark soars sharply more than 3% amid an ongoing escalation in the Middle East, as Iran launched attacks on the United Arab Emirates, while sources cited by CNN in Dubai said that they expect attacks on Iran by the US and Israel in the next 24 h

ABN Amro's Albert Jan Swart notes that Dutch manufacturing is expanding strongly, with the Nevi Dutch Manufacturing PMI jumping to its highest level since 2022 as companies stockpile due to Middle East supply disruptions.

TD Securities economists Robert Both and Emma Lawrence project a sharp narrowing in Canada’s March international merchandise trade deficit to CAD 1.5 billion, driven by stronger exports on higher West Texas Intermediate (WTI) and autos.

US equities slumped on Monday as a series of escalating reports out of the Persian Gulf revived concerns that the fragile US-Iran ceasefire is fraying. The Dow Jones Industrial Average shed roughly 0.9%, slipping back toward 49,000 after an intraday low below that level.

NZD/USD trades around 0.5868 on Monday at the time of writing, down 0.52% on the day. The pair remains under pressure amid an environment marked by heightened geopolitical uncertainty, which typically supports safe-haven assets and the US Dollar (USD).

BNP Paribas economists project Eurozone Gross Domestic Product (GDP) growth to slow from 1.5% in 2025 to 1.0% in 2026, with inflation rebounding to 3.0% in 2026 and 3.3% in 2027.

Finance Minister Satsuki Katayama returned to the verbal channel on Monday, signaling Tokyo's readiness to take decisive action against speculative foreign exchange moves under last September's bilateral agreement with the US, just two trading days after the Ministry of Finance (MoF) and Bank of Jap

EUR/GBP edges higher on Monday as ongoing tensions in the Middle East keep market volatility elevated, while political uncertainty in the UK adds modest pressure on the British Pound (GBP). At the time of writing, the cross is trading around 0.8645, recovering from an intraday low of 0.8629.

ING’s Chief Economist for Turkey, Muhammet Mercan, notes that April inflation rose more than expected, with annual Consumer Price Index (CPI) reaching 32.4%, well above the Central Bank of Turkey’s 16% target.