Norwegian krone weak as oil falls; February inflation eased but stayed above Norges Bank forecasts, muddying outlook.
AUD/USD rose to 0.7125 as USD softened; China surplus surged; RBA hike odds rose; yields hit 5%.
Nomura expects ECB rates steady through 2026, but sustained higher energy prices could force multiple hikes.
Oil surged over 20% on Iran-Hormuz fears; gains faded as markets weighed reserves, shale response, reopening.
Rabobank warns UK energy shock could lift CPI, constrain BoE cuts, and raise fiscal, political risks.
AUD/USD outperforms on resilient equities, strong Australian energy exports, hawkish RBA, and upbeat China trade data.
Oil, gas prices and Norges Bank krone purchases support NOK; EUR/NOK may briefly hit 11, then rebound.
US existing home sales rose to a 4.09 million annual rate in February, beating 3.89 million forecasts.
Canadian dollar edges up as US dollar softens; USD/CAD consolidates above fair value, support holds near 1.35.
TD Securities sees waning gold demand, summer-like volumes, lower leverage, ETF holdings, and fewer inflow catalysts.
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