Asia Summary and Highlights 15 Apr
U.S. blockade of Iranian ports sees compliance
Trump says Iran war: "I view it as very close to over."
Trump says he thinks extending the ceasefire will not be necessary
Asia Session
The early sentiment was lifted by Vance and Trump signaling their optimism towards a deal with Iran being made soon. While it is one sided with little detail, it is sufficient to encourage market optimism. AUD/USD is trading 0.04% higher at 0.7129. Regional equities are outperforming U.S. equities. NZD/USD is trading unchanged while USD/CAD rises 0.06%.
While the broader remarks from Trump and Vance are positive, market participants are keeping the heavy bets until the deal is done. JGB yields continue to rotate lower across curve, suggesting calmer bond market sentiment. USD/JPY is trading 0.14% higher at 158.99. Else, EUR/USD is down 0.06% and GBP/USD is unchanged.
European and North American sessions
Hopes for resumed negotiations between the US and Iran saw oil and the USD softer and equites firmer, though the USD stabilized in North America after losses in Europe. EUR/USD gains failed to hold above 1.18 but USD/JPY held below 159, bottoming at 158.60. EUR/GBP slipped below .87 but a dip in EUR/CHF was mostly reversed. AUD/USD moved above .71 but stalled ahead of .7150. AUD/CAD moved above .98 with USD/CAD losses struggling to hold.
March US PPI was significantly softer than expected, rising 0.5% overall and only 0.1% ex food and energy, with the core rate pausing after a strong start to 2026, but the USD losses came largely before the release.