(Zonebourse.com) – No more than the bond markets, FOREX does not seem to find the slightest source of inspiration, neither in the geopolitical news which has become chaotic again, nor in the “macro” news with the publication of the American “CPI”. The most important figure of the week (apart from the subscription rate for the SpaceX IPO, estimated at 3.5 times) ended in a non-event: commentators were quick to declare with great unanimity: “this is in line with expectations, and no worse than expected”.
American inflation rose by 0.5% in May, bringing the increase at an annual rate to 4.2% (this is comparable to the rate from March to June 2021, which took the central banks by surprise), “core” inflation stood at 2.9%… we are rejoicing, the 3% mark has not been reached (this this time).
The $-Index freezes at 99.95 (0.04%), the Euro remains unchanged at 1.1545, the Pound also at 1.3380, the Yen crumbles by -0.1% to 160.50/$ (the BoJ should not delay in intervening, the 161 is a “red line” for the government Japanese), the Swiss Franc crumbles by -0.15% towards 0.7990 and falls by the same amount against the Euro towards 0.9225/0.9230 (the FCH finds itself at its lowest since April 30, next step, 0.9330/E).
Finally, the Yuan slowly fell by 0.05% against the Euro and the greenback, to 6.7750.
Geopolitical tensions only affected oil this Wednesday: 2.5% for WTI, to 91.3 USD per barrel, while Brent increased by 2.7% to 94.3 USD.
The Dollar-Index does not manage to climb beyond the 100 mark, although the circumstances lend themselves to it.
While yesterday, Trump announced for the 28th time the prospect of an agreement between Washington and Tehran, today, like the 28 previous times, nothing is happening as the markets hoped and it is even quite the opposite (sometimes, just nothing happened) because Wednesday is all-out military escalation.
Iran bombed US military targets in Bahrain and Jordan, Kuwait retaliated after the drone strike on its airport, the United States targeted Iranian air defense systems, ground control stations and surveillance radars near the strait.
And according to Trump’s latest statements (5:45 p.m.: “we are going to attack Iran hard”), this will intensify over the next few hours (with also “non-military” targets as at the beginning of April).
Iran has already promised to retaliate in an even more devastating way: is this a war of bellicose statements aimed at bringing the protagonists back to the negotiating table, as a move to action could prove to be lastingly devastating for our economies?
Copyright (c) 2026 Zonebourse.com – All rights reserved.
