US equity markets surged overnight, with the prospect of an end to the Middle East war. Positive signs from both sides of the conflict are emerging, with Trump calling for a close to the military conflict and Iran seemingly open to an end to hostilities. The war is taking toll on global economies and enormous political pressure is coming to bear on the US. French, German and EU inflation surged in preliminary readings for March, as the energy crises engulfs Europe and the Asia/Pacific. The safety of the US Dollar was forgotten, at least temporarily, allowing a rebound in currencies. The EUR jumped back to 1.1550, while the GBP broke back above 1.3200.The falling reserve allowed some recovery in commodity currencies, with the AUD heading back towards 0.6900, while the NZD looks to regain 0.5750. NZ Business Confidence data plummeted, as was expected, considering the current economic conditions. An end to the war would allow for a recovery and time to reflect on the existential problems faced by Countries, in terms of energy, the conflict has laid bare.
