Spain Unemployment Change below expectations (-18.6K) in April: Actual (-62.7K)

May 5, 2026

Euro depreciates further as the US–Iran ceasefire teeters

The Euro (EUR) extends losses against the US Dollar (USD) for the third consecutive day, as investors' concerns about the resumption of hostilities between the US and Iran have crushed risk appetite.

USD/INR: Underperformance risk and capital outflows – MUFG

Michael Wan at MUFG highlights that the Indian Rupee entered the Iran conflict period already facing strong capital outflows, shaping its vulnerability. The Reserve Bank of India is reportedly considering measures to attract Dollar inflows, including a possible FCNR swap scheme and tax changes.