EUR/USD
EUR/USD remains subdued for the second consecutive day, trading around 1.1740 during the Asian hours on Wednesday. The pair holds little losses as the US Dollar (USD) gains ground on increased market caution amid ongoing uncertainty surrounding the Middle East conflict.
GBP/USD
GBP/USD slid 0.15% on Tuesday, settling close to 1.3500 after a volatile session that traded a roughly 60-pip range. Price unwound twice during European and US trade with sharp downside candles, only to bounce back off the lows on each occasion before recovering modestly into the close.
USD/JPY
USD/JPY rose 0.37% on Tuesday, settling close to 159.40 after pushing as high as 159.65 during the US session. Price has held a rangebound pattern between roughly 158.55 and 159.65 over the past several sessions, with directional moves during overlap hours giving way to tighter, small-bodied candles in quieter periods.
AUD/USD
The Australian Dollar retreats during the North American session, down more than 0.30%. High tensions in the Middle East, spurred by Iran’s decision not to attend talks with the US in Pakistan. At the time of writing, the AUD/USD trades at 0.7153 after hitting a daily high of 0.7185.
NZD/USD
The NZD/USD pair gathers strength to near 0.5915 during the early European session on Wednesday. The New Zealand Dollar (NZD) edges higher against the US Dollar (USD) after US President Donald Trump says the US is extending the ceasefire with Iran at Pakistan’s request.
USD/CAD
The USD/CAD pair fails to capitalize on the previous day’s modest recovery from the 1.3630 region, or its lowest level since March 13, and remains on the back foot during the Asian session on Wednesday. Spot prices, however, lack bearish conviction and currently trade just above mid-1.3600s, down only 0.05% for the day.
USD/CHF
The USD/CHF pair trades in a tight range around 0.7800 during the Asian trading session on Wednesday. The Swiss Franc pair consolidates as investors await remarks from Iran regarding the announcement of the ceasefire extension by the United States (US).
CRUDE OIL
Oil prices were largely flat on Wednesday after rising about $1 at the start of Asian trading, with investors assessing the outlook for U.S.-Iran peace talks following the U.S. extension of a ceasefire.
Gold (XAUUSD) is attempting to recover after a sharp decline, with price stabilizing as selling pressure begins to ease. A softer US Dollar is supporting the rebound, while a temporary improvement in geopolitical sentiment has helped gold regain some ground. However, uncertainty around US-Iran developments continues to keep risk perception elevated. At the same time, strong US economic data and cautious signals from the Federal Reserve are limiting upside momentum. This combination is keeping gold in a controlled recovery phase, with direction closely tied to geopolitical developments and policy expectations.
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