EUR/USD
The EUR/USD pair edges higher during the Asian session on Friday, though it lacks bullish conviction and risks attracting fresh sellers amid a bullish US Dollar (USD). Nevertheless, spot prices, for now, seem to have snapped a three-day losing streak and currently trade around the 1.1535-1.1540 area, up nearly 0.10% for the day.
GBP/USD
GBP/USD slipped about 0.1% on Thursday, settling around 1.3340 in a choppy session. The pair has been trading in a roughly 200-pip range between 1.3230 and 1.3430 for most of March, with a series of lower highs since the late-January peak close to 1.3820 pointing to a gradual loss of upside momentum. Thursday’s candle showed a brief spike lower toward 1.3310 during the US session before buyers stepped in to recover some ground.
USD/JPY
The USD/JPY pair attracts some sellers during the Asian session on Friday, and for now, seems to have snapped a three-day winning streak back closer to its highest level since July 2024, touched earlier this month. Spot prices currently trade just above mid-159.00s, down 0.15% for the day, though the downside potential seems limited.
AUD/USD
The Australian Dollar (AUD) tumbles for the third straight day against the US Dollar (USD) on Thursday as market sentiment turns sour amid a possible escalation of the conflict, amid doubts for a ceasefire agreement between the US and Iran. The AUD/USD pair trades below 0.6900, down 0.76%.
NZD/USD
The NZD/USD pair slipped to the 0.5760 region, remaining under pressure as the US Dollar (USD) stays firm amid elevated United States (US) yields and a cautious market mood.
USD/CAD
The Canadian Dollar (CAD) stays on the back foot against the US Dollar (USD) on Thursday, as rising Middle East tensions and ongoing uncertainty around US-Iran negotiations keep the Greenback firmly supported across the board.
USD/CHF
USD/CHF trades higher around 0.7930 on Thursday, up 0.15% on the day, as the US Dollar (USD) maintains a bullish tone amid heightened geopolitical uncertainty. The pair is supported by sustained demand for the Greenback, driven by fading hopes for a ceasefire between the United States (US) and Iran.
CRUDE OIL
West Texas Intermediate (WTI) US Oil trades around $92.05 on Thursday at the time of writing, up 1.73% on the day, extending its positive bias despite a lack of strong bullish conviction.
Gold (XAU/USD) gains some positive traction during the Asian session on Friday and reverses a part of the previous day’s fall to the $4,350 area. The US Dollar (USD) edges lower after US President Donald Trump announced that he will delay strikes on Iran’s energy infrastructure and extended the deadline to reopen the Strait of Hormuz until April 6. This turns out to be a key factor offering some support to the commodity. Any meaningful appreciation, however, seems elusive amid expectations of higher interest rates globally, which tends to undermine demand for the non-yielding yellow metal.
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