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UAE leaving OPEC may weaken cartel, boost output, increase supply, and push structurally lower oil prices.
Euro slips versus Canadian dollar as oil rallies; soft Canadian inflation tempers BoC, Eurozone CPI awaited.
DBS says BoE outlook hinges on oil; baseline $108/bbl sees CPI 3.7% by end-2026, prompting 1–2 hikes.
Oil prices swing amid Iran and Gulf disruptions; temporary US waivers on Iranian and Russian oil ease supply fears.
TD Securities sees April CPI at 3.1%, driven by energy and base effects; core inflation eases.
Brent crude slid 2% after Trump paused Iran strikes for talks; sanctions waiver and low inventories supported prices.
BNY strategists now expect no Fed rate cuts in 2026, citing Hormuz disruption and resilient US labor.
Norwegian krone surged versus euro and dollar on Iran war-driven energy prices; manipulation claims weak, gains to persist.
Asian currencies steadied after sell-off as Brent eased and Treasury yields paused; won led rebound.
USD/CAD edged higher amid Middle East tensions, softer oil, and anticipation of Canada inflation data release.
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