ForexLive Asia-Pacific FX news wrap: Gold hit another record high, this time above US$2350

• Fed speakers on Monday include a dove and a hawk
• Bank of England Deputy Governor Sarah Breeden is speaking on Monday
• Swiss National Bank Chairman Jordan will speak on Monday
• An engine cover fell off a Southwest Airlines Boeing 737-800 and hit wing during take off
• Australian housing finance data for February: Owner occupied +1.6% m/m & Investment +1.2%
• Earthquake hits southern Japan, emergency warning issued for Miyazaki, Kagoshima
• PBOC sets USD/ CNY reference rate for today at 7.0947 (vs. estimate at 7.2230)
• US Treasury readout of Secretary Yellen’s meeting with China’s finance minister
• Goldman Sachs says Brent stays below $100/bbl in their base case
• Bank of Japan Governor Ueda spoke on Central Bank Digital Currency.
• Bank of Japan Governor Ueda says will respond appropriately to changes in the economy
• Reports that progress has been made in Gaza ceasefire talks
• Japan current account for February showed a smaller surplus than expected
• Real wages in Japan fell for the 23rd consecutive month in February
• Middle East geopolitical tension eased back a little over the weekend
• 3 trends that are going to keep Federal Reserve interest rates higher for longer
• Oil futures have opened for the new week – price drop as weekend risk passes
• People’s Bank of China will lend US$70 billion to support science and technology sectors
• ICYMI – Bank of America says higher oil prices (>$100) will prevent central bank rate cuts
• Trade ideas thread – Monday, 8 April, insightful charts, technical analysis, ideas
• Monday morning open levels – indicative forex prices – 08 April 2024
• Newsquawk Week Ahead: Highlights include US & China CPI, ECB, FOMC Mins, BoC, RBNZ
• Weekly Market Outlook (08-12 April)
• Dow Jones technical analysis – a junction of a retest.
• ICYMI – PIMCO now expect just 2 Federal Reserve rate cuts this year. Were previously at 3.
• Oil price has been heading higher all year, should we now be excited about a Golden Cross?
• Bitcoin price forecast: Prepare for a new peak
• Kickstart the April 8 trading week w/ a technical look at the major currency pairs.
• Apple stock technical analysis: I’m watching this potential retest
• Forexlive Americas FX news wrap: US dollar jumps on hot NFP and then gives it back

It
was a strong day for metals with iron ore, copper, silver and of
course gold all stacking on gains, with Shanghai silver futures
hitting limit up. As
the headline says gold hit another record high. There was no fresh
news, inflation fears seem to be the popular explanation.

Oil
gapped lower to open trade for the week and then lost further ground
before staging a 50% or so retrace. Better news on geopolitical risk
over the weekend including

Israel
and Hamas both sent teams to Egypt for fresh talks on a potential
ceasefire

a
possible temporary ceasefire in Gaza that could be reached by Eid
al-Fitr, The New Arab reported

Israeli
Defence Minister Yoav Gallant said on Sunday that Israel is ready to
handle any scenario that may arise with Iran

Iran
has reportedly informed the US that it will refrain from responding
to the airstrike in which senior IRGC commanders were killed in
Damascus if a ceasefire in Gaza is reached

The
US dollar gave some ground, with rallies for AUD, NZD, GBP, EUR, CAD.
As I post though there have been retracements.

USD/JPY
inched up to a high just over 151.80.

Oil update:

This article was written by Eamonn Sheridan at www.forexlive.com.