Makro Haberleri

GBP/USD trades around 1.3515 on Wednesday, gaining a modest 0.06% at the time of writing, as investors digest the latest inflation figures from the United Kingdom (UK) and assess the outlook for monetary policy on both sides of the Atlantic.

European Central Bank (ECB) Governing Council member and head of Lithuania's central bank, Gediminas Simkus, said during European trading hours on Wednesday that an interest rate hike this year cannot be ruled out.

The Euro (EUR) is heading south for the second consecutive day against the British Pound (GBP) on Wednesday, trading near session lows below 0.8700, as UK inflation figures put pressure on the Bank of England to bring the possibility of an interest rate hike back to the table.

The NZD/USD pair gathers strength to near 0.5915 during the early European session on Wednesday. The New Zealand Dollar (NZD) edges higher against the US Dollar (USD) after US President Donald Trump says the US is extending the ceasefire with Iran at Pakistan's request.

Commerzbank’s Michael Pfister argues that the extended ceasefire with Iran and ongoing closure of the Strait of Hormuz keep global inflation risks elevated, even if EUR/USD does not currently reflect this.

The Pound Sterling (GBP) faces slight selling pressure against its major currency peers after the release of the United Kingdom (UK) Consumer Price Index (CPI) data for March. The British currency drops to near 1.3518 against the US Dollar (USD), but still holds little gains.

EUR/GBP extends its losses for the second successive day, trading around 0.8690 during the Asian hours on Wednesday. The currency cross remains subdued ahead of the United Kingdom’s (UK) March Consumer Price Index (CPI) data release.

The European Central Bank (ECB) Governing Council member Martins Kazaks said on Wednesday that the central bank has ‘luxury’ to wait on interest rate rises.

According to a report from The Wall Street Journal (WSJ), the United States (US) has suspended shipments of US Dollars (USDs) to Iraq, which were proceeds from Federal Reserve Bank of New York accounts against oil sales, in an attempt to cripple an Iran-backed military group in Baghdad.

EUR/JPY remains subdued for the second successive day, trading around 187.10 during Asian hours on Wednesday. The technical analysis of the daily chart indicates the currency cross is remaining within an ascending channel, signaling a persistent bullish bias.