EUR/USD
EUR/USD reached 1.2000 on Wednesday after rising to 1.2082 the previous evening, marking a strong four-day rally. The pressure on the US dollar has intensified following comments from US President Donald Trump. He stated that he was not concerned about the weakening of the dollar, viewing its fall as moderate. The market interpreted this as a signal that the administration might be willing to tolerate a weaker dollar to enhance export competitiveness.
GBP/USD
GBP/USD depreciates after four days of gains, trading around 1.3800 during the Asian hours on Friday. The technical analysis of the daily chart suggests a potential bearish reversal amid a narrowing range, suggesting buyers are losing strength within the rising wedge pattern.
USD/JPY
The Japanese Yen (JPY) remains on the back foot amid a rebounding US Dollar (USD) heading into the European session as bulls pause for a breather following a three-day rally to a nearly three-month high, touched the previous day. Investors remain worried about Japan’s fiscal health on the back of Prime Minister Sanae Takaichi’s aggressive spending and tax cut plans. Apart from this, domestic political uncertainty ahead of a snap election on February 8 and a positive risk tone turn out to be key factors undermining the safe-haven JPY.
AUD/USD
The Australian Dollar (AUD) edges lower against the US Dollar (USD) on Wednesday after registering over 1% gains in the previous session. The AUD/USD pair depreciates as the AUD remains subdued following the release of Australia’s Consumer Price Index (CPI) data for December, reported by the Australian Bureau of Statistics (ABS).
NZD/USD
NZD/USD halts its winning streak that began on January 16, trading around 0.6010 during the Asian hours on Wednesday. The pair edges lower as the US Dollar (USD) rebounds after registering over 1% losses in the previous session, as traders position ahead of the Federal Reserve (Fed) policy decision.
USD/CAD
The USD/CAD pair gains some positive traction during the Asian session on Wednesday and reverses a part of the overnight slump to the 1.3560-1.3555 region, or its lowest level since July 2025. Spot prices reclaim the 1.3600 mark in the last hour amid some repositioning trade heading into key central bank events, though the fundamental backdrop warrants caution for bulls.
USD/CHF
The US Dollar regains lost ground heading into the Federal Reserve’s (Fed) monetary policy decision on Wednesday. The USD/CHF has bounced up to levels above 0.7680 at the time of writing, after hitting a 15-year low in the 0.7600 area on Tuesday.
CRUDE OIL
Oil prices extended gains on Wednesday on lingering supply concerns after a winter storm disrupted U.S. crude output and exports while a weak U.S. dollar and Middle East tensions lent further support.
Gold (XAU/USD) continues scaling new all-time peaks through the first half of the European session on Wednesday, with bulls looking to build an eight-day winning streak beyond the $5,300 mark . Investors continue to take refuge in traditional safe-haven assets on the back of economic and geopolitical uncertainties, fueled by US President Donald Trump’s decisions. Furthermore, worries about the US Federal Reserve’s (Fed) independence and prospects for lower interest rates in the US contribute to driving flows towards the non-yielding yellow metal.
Any information provided therein are indicative and subjective to the technical analysis method or trading patterns used and the timing of their release. Those are provided as general market information and/or market commentary and/or the publication of market/factual data and should not be construed as containing personal and/or other investment recommendation, and/or to be Investment Advice or independent Investment Research. As such, the legal and regulatory requirements in relation to independent investment research do not apply to this material and it is not subject to any prohibition on dealing ahead of its dissemination. For the full Risk Disclaimer click here.
