National Bank of Serbia publishes weekly market review with Brent up 16.54% and euro down 0.68% against the dollar

The National Bank of Serbia published its overview of global financial market developments for 20 to 24 April 2026, pointing to Middle East tensions as the main driver of the week’s moves across currencies, rates and commodities. The review shows the euro weakening 0.68% against the US dollar to 1.1719, Brent crude rising 16.54% to USD 105.33 per barrel, and gold falling 2.88% to USD 4,726.85 per ounce by the end of the reporting period. US Treasury yields rose across the curve except at the three month tenor, with the two year yield up about 7 basis points to 3.78% and the ten year yield up about 5 basis points to 4.30%. German government bond yields also increased, with the two year yield up about 13 basis points to 2.54% and the ten year yield up about 3 basis points to 2.99%. The review links these moves to higher oil prices and geopolitical uncertainty, while also noting stronger than expected US retail sales and PMI data and weaker euro area indicators, including a fall in the euro area composite PMI to 48.6 and Germany’s composite PMI to 48.3. In emerging markets, the Central Bank of Russia cut its key rate by 50 basis points to 14.50%, the Central Bank of Turkey kept its policy rate at 37.00%, and political tensions in Romania were associated with higher Romanian sovereign yields.