North American Summary and Highlights 14 Apr
Overview - With equites resilient to the failure of the US-Iran peace talks the USD’s Asian bounce was fully reversed.
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.