Eamonn Sheridan

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Commodities
gold 23 March 2026
Commodities

Gold gets smashed as oil shock lifts yields, boosts dollar, and crushes rate-cut hopes.

  • Gold is being hit by a stronger dollar, rising Treasury yields, and a hawkish repricing of rates as the oil shock lifts inflation fears. The metal still has geopolitical support underneath it, but for now macro headwinds are winning.
Central Banks
usdcny 23 March 2026
Central Banks

PBOC is expected to set the USD/CNY reference rate at 6.8928 – Reuters estimate

  • PBOC CNY reference rate setting for the trading session ahead.
Forex
usdyen intervention warning Japan 23 March 2026
Forex

Japan flags FX intervention risk. Oil shock drives yen volatility and policy response.

  • Supportive for yen near-term via intervention risk; highlights sensitivity of FX to oil prices and reinforces broader inflation pressures, with implications for BoJ policy expectations.
Commodities
yanbu saudi pipeline 23 March 2026
Commodities

Saudi pipeline bypass eases oil shock, here's what’s next for global supply.

  • Saudi Arabia’s pipeline pivot is helping stabilise oil markets, but risks remain elevated as the global energy system adjusts to a prolonged Hormuz disruption.
News
gbpusd starmer cobra 23 March 2026
News

UK calls emergency COBRA meeting as Iran war lifts inflation and gilt yields

  • The UK moves into crisis mode as the Iran conflict threatens inflation, growth, and fiscal stability, with bond markets signalling rising concern over policy constraints.
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