Trading news

China New Loans below forecasts (979B) in February: Actual (900B)

China M2 Money Supply (YoY) above forecasts (8.8%) in February: Actual (9%)

United Kingdom Consumer Inflation Expectations: 3.2% vs previous 3.5%

Societe Generale’s technical team notes USD/CAD has found tentative support near 1.3480, forming a small base, but sees no clear evidence yet of a larger uptrend.

Silver prices (XAG/USD) fell on Friday, according to FXStreet data. Silver trades at $82.37 per troy ounce, down 1.72% from the $83.82 it cost on Thursday.

Deutsche Bank’s Sanjay Raja expects the Bank of England (BoE) to keep Bank Rate at 3.75% in March, abandoning earlier expectations for an imminent cut as the Iran-related energy shock lifts inflation risks.

Brown Brothers Harriman’s (BBH) Elias Haddad notes that the Dollar is supported as markets focus on risks to shipping through the Strait of Hormuz and higher Oil prices. With Brent above $100 and stagflation concerns weighing on bonds and stocks, USD is near cyclical highs.

ING’s Chris Turner notes EUR/USD has slipped below 1.1500 as higher Dollar-denominated energy costs hurt most European corporates.

Italy Industrial Output w.d.a (YoY) came in at -0.6% below forecasts (0.8%) in January

Italy Industrial Output s.a. (MoM) below forecasts (0.3%) in January: Actual (-0.6%)

MUFG’s Head of Research Derek Halpenny argues the Australian Dollar has benefited from expectations of further RBA tightening and a positive terms-of-trade impulse from higher energy prices.

Standard Chartered’s Anubhuti Sahay and Saurav Anand assess India’s macro outlook as Middle East tensions raise risks for Oil and global rates.

Commerzbank’s FX & Commodity Analyst Volkmar Baur highlights that new US Section 301 investigations are designed to replace recently invalidated Section 122 tariffs and avoid their July expiry.

Danske Bank’s Danske Research Team notes that Oil remains supported near USD 100 as Middle East tensions and disruptions around the Strait of Hormuz weigh on supply and sentiment.

Spain Harmonized Index of Consumer Prices (YoY) in line with forecasts (2.5%) in February

Spain Harmonized Index of Consumer Prices (MoM) meets forecasts (0.4%) in February

Spain Consumer Price Index (MoM) in line with forecasts (0.4%) in February

Spain Consumer Price Index (YoY) meets forecasts (2.3%) in February

West Texas Intermediate (WTI) oil price remains steady after experiencing volatility, hovering near $95.60 per barrel during the European hours on Friday.

BNP Paribas notes that earlier disinflation allowed the European Central Bank to cut rates and support a growth rebound in 2025, but the Iran conflict could reverse this. Under moderate scenarios, the ECB may stay cautious without hiking.