ECB's Wunsch sees multiple rises if the Iran crisis lasts long - WSJ

Eurozone inflation surged to 2.5% in March 2026, driven by a sharp rebound in energy prices which rose 4.9% after a prior contraction. While services and food inflation showed slight moderation, the headline spike complicates the European Central Bank’s path toward its 2% target.

FAO Food Price Index hitting a six month high of 128.5 points due to energy linked costs.

Government bond yields in Italy, France, and Spain have climbed as investors demand higher premiums amid rising fiscal burdens and systemic uncertainty.

The Euro stabilized near $1.152 during quiet trading as the Iran conflict and high oil prices weighed on sentiment. Strong US labor data further dampened expectations for Federal Reserve rate cuts, keeping the currency range-bound against a resilient Dollar.

For EUR/USD, the initial resistance is seen at 1.1590, while the closest support is positioned at 1.1500.