5 central financial institution selections, a confirmed FX intervention, oil breaking triple digits, and an FOMC vote break up not seen in over three a long time — the week of April 27–Might 1 didn’t come to play.
Markets spent Monday cautiously positioning earlier than a calendar stacked with catalysts, and the FX complicated spent the remainder of the week reacting to the fallout. A deeply hawkish Fed drove the greenback to its finest shut on Wednesday. Japan’s Vice Finance Minister then delivered a “remaining warning” to yen speculators — and adopted it with motion — flipping the JPY from close to the week’s worst to its clear finest performer.
In the meantime, the Hormuz standoff saved oil elevated and commodity currencies on edge. The euro wrestled with stagflation and a recent tariff risk. Sterling navigated a shock BoE vote break up. And the franc quietly absorbed all of it. Right here’s how the majors performed out.
