OCBC strategists Sim Moh Siong and Christopher Wong flag slight upside risks for USD/SGD as the Hormuz standoff weighs on risk appetite and imported cost pressures.

Commerzbank highlights that BSP raised its policy rate by 25bp to 4.50%, signalling the start of a new tightening cycle to anchor inflation expectations.

OCBC strategists Sim Moh Siong and Christopher Wong describe a technical rebound in USD/TWD driven by broader US Dollar (USD) strength and risk aversion linked to the US‑Iran ceasefire stalemate.

DBS Group Research economist Samuel Tse analyses recent steepening in Chinese Yuan (CNY) rates, linking it to a ceasefire between the United States (US) and Iran and stronger-than-expected Q1 growth in China.

USD/CHF dropped on Friday but finished the week with gains of over 0.35%, trading at 0.7841 as market participants grew confident that US-Iran talks could resume over the weekend to resolve the conflict.

Lloyd Chan at MUFG highlights that USD/IDR has broken to fresh highs, overshooting earlier expectations for near-term stabilization. The move is attributed more to domestic confidence and fiscal uncertainty than broad US Dollar (USD) strength.

Silver (XAG/USD) price edges up over 0.50% during Friday’s session, after bouncing off a daily low of $73.95. Speculation about a resumption of negotiations between Washington and Tehran is cheered by investors, which pushed US equities higher in tandem with the precious metals segment.

OCBC strategists Sim Moh Siong and Christopher Wong note the central bank of Philippines Bangko Sentral ng Pilipinas' (BSP) 25bp hike to 4.5% and guidance that further increases are possible as inflation forecasts are revised higher and second-round effects emerge.

TD Securities strategists, including Andrew Kelvin and colleagues, expect the Bank of Canada to keep the Overnight Rate at 2.25% through the April meeting and likely for the rest of 2026.

United States CFTC Oil NC Net Positions fell from previous 206.5K to 192.3K

Eurozone CFTC EUR NC Net Positions: €41.3K vs €26K

Japan CFTC JPY NC Net Positions down to ¥-94.5K from previous ¥-83.2K

United Kingdom CFTC GBP NC Net Positions rose from previous £-54.7K to £-52K

United States CFTC Gold NC Net Positions: $164K vs $162.5K

United States CFTC S&P 500 NC Net Positions climbed from previous $-115.8K to $-110.1K

Australia CFTC AUD NC Net Positions: $64.8K vs previous $65.1K

Rabobank’s Senior Macro Strategist Stefan Koopman expects the Bank of England’s (BoE) Monetary Policy Committee (MPC) to leave Bank Rate at 3.75% at the April meeting, maintaining its vigilant stance.

The US Dollar Index (DXY) is losing momentum near the 98.50 price zone and continues drifting lower from recent highs as markets unwind part of the recent US Dollar (USD) rally despite still strong United States (US) data and ongoing Middle East tensions.

Gold (XAU/USD) price recovers some ground on Friday, extending its gains above $4,700 as market sentiment remains upbeat amid headlines from Iran and the US pointing to a resumption of second-round talks aimed at ending the conflict. At the time of writing XAU/USD trades at $4,726, up 0.47%.

The New Zealand Dollar (NZD) gains traction against the US Dollar (USD) on Friday as the Greenback weakens amid renewed hopes for US–Iran talks after stalled negotiations.

Commerzbank’s Chief Economist Dr. Jörg Krämer argues that the sharp fall in the Ifo Business Climate Index underlines how severely the energy price shock is weighing on the German economy.

Iran's Foreign Minister Abbas Araghchi landed in Islamabad on Friday evening to open the long-delayed second round of talks with the US, and special envoy Steve Witkoff and senior adviser Jared Kushner are due in on Saturday morning.

Standard Chartered economists Dan Pan and Steve Englander assess the impact of the United States (US) Supreme Court’s IEEPA ruling on US tariff revenue. They note that tariff income has fallen but remains well above pre-Liberation Day levels.

United States Baker Hughes US Oil Rig Count down to 407 from previous 410

MUFG’s Derek Halpenny argues that the ongoing United States (US) blockade in the Strait of Hormuz is building a significant inflation shock for the US and globally, with Oil and input costs surging.

West Texas Intermediate (WTI) US Oil trades around $92.55 at the time of writing on Friday, down 3.28% on the day, marking a notable pullback after reaching recent highs earlier in the week.

TD Securities analysts expect a broadly neutral near-term impact on the Canadian Dollar (CAD) from a more balanced Bank of Canada (BoC) tone.

Dow Jones Industrial Average (DJIA) futures are trading broadly flat in the early afternoon GMT on Friday, holding above 49,100 after a choppy session that saw prices swing between 48,900 and 49,500.

EUR/USD rises on Friday, snapping a three-day losing streak as prospects of renewed US-Iran peace talks lift market sentiment and weigh on the US Dollar (USD). At the time of writing, the pair is trading around 1.1715, up 0.27% on the day, recovering from two-week lows.

GBP/USD advances on Friday as improved risk appetite weighed on the US Dollar’s (USD) safety appeal amid growing speculation that a second round of talks between the US and Iran looms. A three-week extension of the ceasefire between Israel and Lebanon added to traders’ optimism.