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Goldman sees softer oil demand, flags two-sided risks to 2026 price outlook

April 17 (Reuters) - Goldman Sachs said softer oil demand and easing supply disruptions have balanced out the risks in its oil price outlook, though it kept its 2026 average forecasts unchanged.The bank maintained ‌its Brent and WTI crude forecasts for 2026 at $83 a barrel and $78 a barrel, respectively, assuming oil flows through the Strait of Hormuz, a vital waterway through which about 20% of the world's oil and liquefied natural gas supplies pass, gradually normalize by mid-May.

Apr 17, 2026 - 6:07 PM

Canadian dollar hits one-month high as Iran says key waterway open

TORONTO, April 17 (Reuters) - The Canadian dollar strengthened to a one-month high against its U.S. counterpart ‌on Friday as investors globally celebrated Iran's move to open the Strait of Hormuz.The loonie was trading 0.2% higher at 1.3675 per U.S. dollar, or 73.13 U.S. cents, after touching its strongest intraday level since March 13 at 1.3650. For the week, the loonie was up 1.2%, marking its biggest weekly advance since January.

Apr 17, 2026 - 5:02 PM

BoC governor says not concerned about short-term spike in inflation expectations

OTTAWA, April 17 (Reuters) - Bank of Canada Governor Tiff Macklem said on Friday inflation will rise in the short term and that an uptick in near-term inflation expectations would not worry ‌the central bank.However, he said he would be concerned if longer-term inflation expectations remained elevated.Macklem was speaking to journalists on a call from Washington on the sidelines of the IMF meetings.“It’s certainly going to go up,” Macklem said of March inflation data due on Monday.

Apr 17, 2026 - 2:41 PM

US buyers redirect imported fertilizer overseas as Iran war drives up global prices

CHICAGO, April 17 (Reuters) - U.S. fertilizer buyers are redirecting shipments out of the country, as higher overseas prices give them an incentive to divert critical supplies, a fertilizer analyst said.

Apr 17, 2026 - 2:38 PM

Fed's Waller says swift war end could keep rate cut hopes alive

April 17 (Reuters) - Federal Reserve Governor Christopher Waller said on Friday the Middle East War is likely to drive up inflation near term and creates a challenging outlook for monetary policymakers, although he said a fast end to the troubles would keep the ‌door open to cutting interest rates again later this year.

Apr 17, 2026 - 2:36 PM

Geopolitical stress not yet reflected in euro zone bank earnings, supervisor says

WASHINGTON, April 17 (Reuters) - The balance sheet of euro zone banks does not yet reflect elevated geopolitical tensions as it could take time - possibly years - for loan quality to deteriorate, European Central ‌Bank supervisor Claudia Buch said on Friday.

Apr 17, 2026 - 12:54 PM

Warsh may have ideas for Fed, but economy may require something different, Daly says

April 17 (Reuters) - San Francisco Federal Reserve President Mary Daly on Friday said that while Federal ‌Reserve chair nominee Kevin Warsh will come into the job with plans for the central bank, in the end -- like ⁠each Fed chair back to Paul Volcker -- he will need to respond to whatever surprises the economy delivers.

Apr 17, 2026 - 12:45 PM

Aluminum in crisis: War, tariffs and a market running on empty

(The opinions expressed here are those of Andy Home, a columnist for Reuters.)The Iran war is triggering an unprecedented crisis in the global aluminum market with potentially devastating knock-on effects across sectors as diverse as construction, packaging, transport and green energy.Even if the war were to end tomorrow, it could take up to a year for Emirates Global Aluminium to recover from the damage inflicted by a missile strike on its Al Taweelah smelter last month.

Apr 17, 2026 - 12:22 PM

Vale books best first-quarter iron ore sales in eight years

Brazilian miner Vale reported on Thursday its highest iron ore sales for a first quarter since 2018, while also announcing the suspension of pellet operations in Oman amid the war in the Middle East.The company’s iron ore sales, which include fines, pellets and run-of-mine, rose 3.9% to 68.7 million metric tons for the January-March quarter from a year earlier.

Apr 17, 2026 - 12:18 PM

Iron ore price rises on Australia supply disruption fears, portside stocks decline

Dalian iron ore futures edged higher on Friday, as investors weighed potential supply disruptions in Australia against tempered demand stemming from China’s environmental curbs in a key steel-making province.The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) traded 0.39% higher at 778.5 yuan ($114.06) a metric ton.The contract has gained 2.85% so far this week, and is on track to snap two consecutive weekly losses.

Apr 17, 2026 - 12:03 PM

Indian gold price premiums flat despite bank import tonnes stuck at customs

By Pablo Sinha and Rajendra JadhavGold demand in India was modest this week, as high domestic prices weighed on retail purchases ahead of the key Akshaya Tritiya festival weekend, while premiums in China held steady.Dealers quoted discounts of up to $4 an ounce and though some quoted premiums of $14 an ounce over official domestic prices this week helped by festival-related demand, inclusive of 6% import and 3% sales levies, compared with last week’s discounts of up to $6 an ounce and premiums of $9.

Apr 17, 2026 - 11:41 AM

Gold extends gains after Iran minister declares Strait of Hormuz open

April 17 (Reuters) - Gold prices extended gains on Friday, ‌supported by a weaker dollar and comments from Iran’s foreign minister that passage through the Strait of Hormuz remains open during the ceasefire, which pushed oil prices lower and eased some inflation concerns.Spot gold was up 1.5% at $4,860.39 per ounce at 9:36 a.m. ET (1336 GMT), rising more than 2% so far this week.U.S. gold futures rose 1.6% to $4,883.20.

Apr 17, 2026 - 11:18 AM

TSX jumps more than 1% as Iran opens Strait of Hormuz

April 17 (Reuters) - Canada's main stock index rose sharply on Friday after ‌Iran's move to open the Strait of Hormuz raised expectations that the conflict would end soon and normalize oil and gas supplies, lifting investor sentiment globally.At 10:48 a.m. ET, the Toronto Stock Exchange's S&P/TSX Composite Index (.GSPTSE), was up 1.1% at 34,427.11 points, its highest since its March 2 peak, putting it ⁠firmly on track for its fourth straight week of gains.Wall Street's key indexes also jumped, with the benchmark S&P 500 (.SPX), trading at record highs.

Apr 17, 2026 - 11:11 AM

Global markets surge as Iran says Strait of Hormuz open during ceasefire

LONDON, April 17 (Reuters) - Stocks and bond prices jumped on Friday, while oil and the dollar fell sharply after Iran's foreign minister said passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of ceasefire, in line with the ceasefire in Lebanon.Oil dropped as much as 10% to below $90 a barrel immediately after the news , while short-dated government bond yields tumbled as investors priced out the likelihood of near-term rate hikes, especially in Europe, and stocks ‌surged (.STOXX) .

Apr 17, 2026 - 10:52 AM

Reopened Strait of Hormuz and falling oil prices may recast Fed's options for future cuts

WASHINGTON, April 17 (Reuters) - Reopened Middle East shipping and plummeting oil prices on Friday boosted bets the U.S. Federal Reserve may begin cutting interest rates as soon as December, but officials ‌still face a tangled outlook ahead of their April 28-29 policy meeting.

Apr 17, 2026 - 10:50 AM

Canadian housing starts decrease 6% in March

TORONTO, April 17 (Reuters) - Canadian housing starts posted a surprise ‌decline in March, falling 6% from the previous month, data ⁠from the national housing agency showed on Friday.The seasonally adjusted annualized rate of housing starts decreased to ‌235,852 ⁠units from a revised 250,961 units in February, the ⁠Canada Mortgage and Housing Corporation (CMHC) said. Economists ⁠had expected starts to rise ⁠to 255,000.Reporting by Fergal Smith; editing by Philippa Fletcher

Apr 17, 2026 - 9:22 AM

Wall St Week Ahead Surging record-high US stocks to wade deeper into earnings season

NEW YORK, April 17 (Reuters) - Investors will look to a heavy week of U.S. corporate results to further fuel a stunning rebound in the U.S. stock market, which has shaken off war-related concerns to reach record peaks.Hopes for a cooling of U.S.-Iran tensions have led to a sharp rally this month, culminating with major U.S. stock indexes minting fresh records in recent days. The benchmark S&P 500 (.SPX), on Wednesday posted its first ‌record-high close since Jan 27, while the Nasdaq Composite (.IXIC), on the same day notched its first all-time-high close since Oct 29.

Apr 17, 2026 - 9:21 AM

STOXX 600 on track for fourth weekly win on Mideast diplomacy hopes

April 17 (Reuters) - A subdued STOXX 600 was on track to notch its fourth straight weekly ‌gain on Friday, as caApril 17 (Reuters) - A subdued STOXX 600 was on track to notch its fourth straight weekly ‌gain on Friday, as cautious investors waited for a potentially pivotal weekend that could bring the Middle East conflict closer to resolution.The pan-European stock index (.STOXX), was up 0.1% at 617.83 points, as of 0849 GMT, and it remained on track to record modest gains for the week.

Apr 17, 2026 - 9:17 AM

ASIA GOLD India gold demand lacklustre as elevated prices curb festive buying

April 17 (Reuters) - Gold demand in India was modest this ‌week, as high domestic prices weighed on retail purchases ahead of the key Akshaya Tritiya festival weekend, while premiums in China held steady.Dealers quoted discounts of up to $4 an ounce and though some quoted premiums of $14 an ounce over official domestic prices this week helped by festival-related demand, inclusive of 6% import and 3% sales levies, compared with last week's discounts of ⁠up to $6 an ounce and premiums of $9.

Apr 17, 2026 - 9:15 AM

As commodities reshape geopolitics, currency pecking order gets a reset

LONDON, April 17 (Reuters) - The war in the Middle East is the latest reminder of how commodities are reshaping the geopolitical landscape, leaving currencies from Norway, Canada, Australia, and New Zealand well placed to outperform larger rivals.These commodity currencies - so called due to their close correlation to the fortunes of their countries' main export commodities - include two of the best performers among 10 developed market economies: the Norwegian crown and Australian, or Aussie, dollar.

Apr 17, 2026 - 9:09 AM

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