EUR/USD
The EUR/USD pair regains positive traction during the Asian session on Wednesday and jumps to the 1.1800 neighborhood in the last hour, reversing the previous day’s modest losses. The intraday move up is sponsored by the emergence of fresh selling around the US Dollar (USD), which continues to be weighed down by persistent trade-related uncertainties.
GBP/USD
GBP/USD was essentially flat on Tuesday, drifting around 1.3500 in a quiet session. The pair has pulled back sharply from its late-January high near 1.3870 and is now consolidating in a tight range around the 50-day Exponential Moving Average (EMA), with a cluster of mixed candles over the past two weeks suggesting indecision after the sell-off.
USD/JPY
USD/JPY jumped about 0.7% on Tuesday, rallying sharply to around 155.86 in a session driven almost entirely by Japanese Yen weakness. The pair has been chopping in a wide range between about 152.00 and 157.00 since late January, with alternating large-bodied bullish and bearish candles pointing to a tug-of-war between opposing forces. Tuesday’s strong bullish candle pushed price back into the upper half of that range after last week’s pullback toward the 153.000 area.
AUD/USD
AUD/USD edged higher by less than 0.1% on Tuesday, trading in a narrow range around 0.7060. Price has been consolidating in a roughly 150-pip band between 0.7000 and the year-to-date high just shy of 0.7150 for nearly four weeks, with a cluster of small-bodied candles and doji pointing to indecision (or market apprehension) ahead of Wednesday’s CPI.
NZD/USD
The NZD/USD pair trades 0.16% higher to near 0.5980 during the Asian trading session on Wednesday. The Kiwi pair gains as the US Dollar (USD) faces selling pressure after United States (US) President Donald Trump delivered his first State of the Union (SOTU) address of his second administration before a joint session of Congress.
USD/CAD
USD/CAD trades flat on Tuesday as a firmer US Dollar (USD) keeps the Canadian Dollar (CAD) under modest pressure. At the time of writing, the pair is trading around 1.3705, after touching an intraday high near 1.3725.
USD/CHF
The USD/CHF pair trades in negative territory near 0.7730 during the early European session on Wednesday. The US Dollar (USD) weakens against the Swiss Franc (CHF) after US President Donald Trump delivered his annual State of the Union address to Congress on Wednesday. The Swiss Q4 Gross Domestic Product (GDP) and US January Producer Price Index (PPI) reports will be the highlights later on Friday.
CRUDE OIL
Oil prices were hovering near seven-month highs on Wednesday as the threat of military conflict between the U.S. and Iran that could disrupt supply continued to worry investors as talks between the parties are set for Thursday.
Gold continues to trade with a resilient tone even as the market shifts from clean directional momentum into a more controlled phase. Recent price action does not suggest structural weakness. Instead, it reflects a market that remains supported by macro conditions while showing signs of short term extension. This combination typically produces consolidation rather than immediate reversal.
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