Rabobank strategists reiterate its view that the Federal Reserve (Fed) is likely to cut rates again this year, even as United States (US) Treasury yields edge higher on persistent inflation concerns.

According to The Times, the United Kingdom (UK) House of Commons will vote on Tuesday on whether to launch an investigation through the Committee of Privileges to determine if Prime Minister Keir Starmer misled lawmakers over the appointment of former US ambassador Peter Mandelson.

Commerzbank’s Rainer Guntermann argues that the ECB is likely to maintain a balanced hold this week, with April HICP data expected to show energy-driven headline inflation and a temporary dip in core.

Mexico Trade Balance s/a, $ up to $2.499B in March from previous $-1.09B

Mexico Trade Balance, $: $5.932B (March) vs $-0.463B

UOB strategists Suan Teck Kin and Alvin Liew assess how a potential Kevin Warsh Fed chairmanship could shape United States (US) monetary policy and the Fed funds rate.

Philip Wee of DBS Group Research observes that the US Dollar (USD), as measured by the US Dollar Index (DXY), has lost upside momentum after an earlier rebound. The index has stalled around 99 following a decline from 100.6 to just under 98 earlier in April.

HSBC Asset Management notes that upcoming meetings of the Federal Reserve (Fed), European Central Bank (ECB and Bank of England (BoE) are unlikely to deliver policy changes, but guidance on inflation and growth will be closely watched.

EUR/CAD moves little after two days of gains, trading around 1.6010 during the European hours on Monday. The currency cross may rise as the Euro (EUR) draws support from surging energy prices, which have strengthened expectations around the European Central Bank (ECB) cautious outlook.

Philip Wee at DBS Group Research discusses how Federal Reserve (Fed) leadership dynamics are influencing United States (US) markets and the US Dollar (USD).

Here is what you need to know on Monday, April 27:

Danske Research Team reports that equities advanced last week, with a notable divergence emerging between regions and sectors. Strong earnings and higher Oil prices boosted technology and energy, benefitting US markets, while Europe lagged.

Germany GfK Consumer Confidence Survey came in at -33.3, below expectations (-29.5) in May

The Indian Rupee (INR) holds onto weekly losses against the US Dollar (USD) at open on Monday.

Japan Coincident Index remains at 116.3 in February

Japan Leading Economic Index above forecasts (112.4) in February: Actual (113.3)

Singapore Industrial Production (YoY) climbed from previous -0.1% to 10.1% in March

Singapore Industrial Production (MoM) up to 4.7% in March from previous -7.2%

The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 98.45 during the Asian trading hours on Monday. The DXY edges lower after reports that Iran offered the US a proposal for reopening the Strait of Hormuz. 

US President Donald Trump was swiftly escorted off the stage by Secret Service after possible shots were fired at the White House Correspondents’ Dinner in Washington, DC, on Saturday, CNN reported.

US President Donald Trump said an Iran war will end soon and the US will be victorious, FOX News reported on Sunday. His remarks came as Trump called off that delegation to Pakistan to potentially discuss directly with Iran.

Efforts to resume peace talks over the Iran war stalled after US President Donald Trump called off that delegation to Pakistan to potentially discuss directly with Iran, Bloomberg reported on Sunday. The Islamic Republic said it won’t negotiate so long as it’s being threatened.

OCBC strategists Sim Moh Siong and Christopher Wong flag slight upside risks for USD/SGD as the Hormuz standoff weighs on risk appetite and imported cost pressures.

Commerzbank highlights that BSP raised its policy rate by 25bp to 4.50%, signalling the start of a new tightening cycle to anchor inflation expectations.

OCBC strategists Sim Moh Siong and Christopher Wong describe a technical rebound in USD/TWD driven by broader US Dollar (USD) strength and risk aversion linked to the US‑Iran ceasefire stalemate.

DBS Group Research economist Samuel Tse analyses recent steepening in Chinese Yuan (CNY) rates, linking it to a ceasefire between the United States (US) and Iran and stronger-than-expected Q1 growth in China.

OCBC strategists Sim Moh Siong and Christopher Wong note the central bank of Philippines Bangko Sentral ng Pilipinas' (BSP) 25bp hike to 4.5% and guidance that further increases are possible as inflation forecasts are revised higher and second-round effects emerge.

TD Securities strategists, including Andrew Kelvin and colleagues, expect the Bank of Canada to keep the Overnight Rate at 2.25% through the April meeting and likely for the rest of 2026.

United States CFTC Oil NC Net Positions fell from previous 206.5K to 192.3K

Eurozone CFTC EUR NC Net Positions: €41.3K vs €26K