S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market- GBP/USD depreciates as the US Dollar strengthens on increased risk aversion linked to geopolitical tensions.
- President Trump said Iran’s ceasefire proposal was “not good enough” ahead of his Hormuz Strait deadline.
- BoE policymakers shifted to holding policy rates amid rising energy costs from the Middle East conflict.
GBP/USD pares its recent gains from the previous day, trading around 1.3220 during the Asian hours on Tuesday. The pair depreciates as the US Dollar (USD) gains ground amid increased risk aversion, which could be attributed to the Middle East peace truce uncertainty.
US President Donald Trump said on Monday that the latest proposal for a US ceasefire with Iran is “not good enough” ahead of his deadline for Iran to either reopen the Strait of Hormuz. “It’s not good enough, but it’s a very significant step,” Trump said, adding, “They’re negotiating now, and they’ve made a very significant step. We’ll see what happens.”
Traders keep a close watch on US President Donald Trump’s deadline concerning the Strait of Hormuz. Trump warned that he could target Iranian power plants and bridges unless his demands are met by 8 p.m. Eastern Time.
The Institute for Supply Management (ISM) showed on Monday that the US Services PMI eased to 54.0 in March from 56.1 in February. The figure came in below expectations of 55.0, signaling a slight loss of momentum in the sector.
The Bank of England (BoE) policymakers, including Sarah Breeden and Swati Dhingra, shifted from supporting cuts to holding rates amid rising energy costs linked to the Middle East conflict, while warning CPI inflation could rise to 3%–3.5% in the coming quarters.
