Trading news

Deutsche Bank strategists Shreyas Gopal and Sanjay Raja note that UK front-end rates have seen the largest hawkish repricing among G10 central banks, removing earlier dovish expectations for the Bank of England.

BNY’s Head of Markets Macro Strategy Bob Savage notes that money markets scale back expectations for European Central Bank tightening.

United States ADP Employment Change 4-week average: 15.5K (February 14) vs 12.8K

Gold (XAU/USD) trades on a firm note on Tuesday, building on the previous day’s rebound from levels near $5,000.

HSBC’s Willem Sels highlights that Oil remains the primary driver of global markets, with recent Brent swings between USD83 and USD120 underscoring extreme uncertainty.

Commerzbank’s Thu Lan Nguyen reports that Gold has recovered as Trump’s signal of a possible end to the Iran war eased rate-hike fears.

Societe Generale’s Kit Juckes highlights the resilience of the Australian Dollar despite higher Oil prices and Australia’s heavy reliance on imported petroleum. He notes that speculative AUD longs have not been unwound and that AUD/USD has barely slipped since late February.

Rabobank’s Senior FX Strategist Jane Foley notes that the Pound has outperformed since late February, while the Euro has lagged, with recent EUR/GBP gains largely tied to fading expectations of a March BoE rate cut and positioning effects.

Brown Brothers Harriman’s Elias Haddad notes that markets have sharply reduced the crude Oil war risk premium after comments from President Trump, triggering a pullback in the Dollar and a rally in global stocks and bonds.

ING’s Chris Turner highlights that UK rate markets have seen one of the largest repricings from the energy shock, reflecting high UK inflation and a relatively hawkish Bank of England.

European Central Bank (ECB) economist Georg Muller said on Tuesday that “we shouldn't rush into any decision.”

European Central Bank (ECB) Governing Council member and head of Lithuania's central bank, Gediminas Simkus, commented on the bank’s monetary policy outlook in the face of the war in the Middle East.

Greece Industrial Production (YoY) rose from previous 3.9% to 5.3% in January

United States NFIB Business Optimism Index below expectations (99.7) in February: Actual (98.8)

Greece Consumer Price Index - Harmonized (YoY) increased to 3.1% in February from previous 2.9%

Greece Consumer Price Index (YoY) up to 2.7% in February from previous 2.5%

Spain 9-Month Letras Auction increased to 2.164% from previous 2.015%

TD Securities’ Senior Strategist Prashant Newnaha highlights that recent comments from RBA Deputy Governor Hauser sound hawkish and reinforce Governor Bullock’s message that the March Board meeting is live.

Spain 3-Month Letras Auction: 1.964% vs 1.939%

Societe Generale’s Kunal Kundu assesses how the Iran crisis could affect India, stressing that growth risks outweigh inflation pressures. The report highlights India’s reliance on energy, trade and remittances, and notes rising logistics costs, fertiliser price risks and twin-deficit concerns.