Societe Generale analysts highlight that Brazil’s 1Q Gross Domestic Product (GDP) rebounded to 1.1% qoq, supported by fiscal stimulus and mining, but at the cost of higher inflation and a worsening deficit.
The Canadian Dollar (CAD) trades on the back foot against the US Dollar (USD) on Monday as renewed tensions in the Middle East lift the Greenback. At the time of writing, USD/CAD trades around 1.3834, up nearly 0.27% on the day.
TD Securities’ Senior Commodity Strategist Ryan McKay argues that Oil fundamentals will tighten materially even if a comprehensive deal fully reopens the Strait of Hormuz.