ไทม์ไลน์ข่าวสาร forex
23:27 USD/JPY struggles amid trade tensions, pair capped below key moving averages
USD/JPY price analysis: Dollar struggles amid trade tensions, pair capped below key moving averages
USD/JPY price analysis: Dollar struggles amid trade tensions, pair capped below key moving averagesUSD/JPY trades around the 143 zone during Wednesday's North American sessionUS tariffs, weaker yields, and trade risks weigh on the Dollar's broader outlookTechnical resistance seen near 145.50–145.80 zone, while 142.40 offers key supportThe USD/JPY pair holds a modest upside bias during Wednesday’s North American session, hovering around the 143 handle. Despite the intraday uptick, the broader tone remains cautious as the US Dollar stays under pressure in the face of escalating trade tensions and falling Treasury yields. The Japanese Yen, typically a safe haven during geopolitical flare-ups, has struggled to capitalize fully amid crosswinds in equity markets and monetary divergence.On the fundamental front, market sentiment has turned fragile following US President Donald Trump’s decision to explore new tariffs on critical mineral imports. These proposed levies come atop already substantial reciprocal tariffs in the ongoing US-China trade standoff. Meanwhile, China responded with rare earth export restrictions, raising concerns about supply chain disruptions in key industries such as technology and defense. Though both sides have shown openness to resume negotiations, rhetoric from Beijing emphasized the need for mutual respect.While US economic data has been relatively firm—March Retail Sales rose 1.4%, slightly above expectations—investors continue to divest from the Greenback, reflecting broader anxiety around global trade and monetary policy. The US Dollar Index slipped further on the day, undermining USD/JPY’s ability to extend gains.Technical Analysis
From a technical perspective, the USD/JPY pair is showing a mixed picture. The Moving Average Convergence Divergence (MACD) is flashing a sell signal, suggesting weakening momentum. Meanwhile, the Relative Strength Index (RSI) stands near 32, indicating the pair is nearing oversold territory. The 20-, 100-, and 200-day Simple Moving Averages all point to further downside, reinforcing the broader bearish outlook. The Williams Percent Range signals a potential bounce, but other indicators remain neutral.Key support is seen around 142.41, with further downside targets at 141.80. On the upside, resistance lies at 145.47, followed by 145.79 and 146.62. Unless bulls manage to break decisively above the confluence of moving averages, upside attempts may continue to face headwinds.
From a technical perspective, the USD/JPY pair is showing a mixed picture. The Moving Average Convergence Divergence (MACD) is flashing a sell signal, suggesting weakening momentum. Meanwhile, the Relative Strength Index (RSI) stands near 32, indicating the pair is nearing oversold territory. The 20-, 100-, and 200-day Simple Moving Averages all point to further downside, reinforcing the broader bearish outlook. The Williams Percent Range signals a potential bounce, but other indicators remain neutral.Key support is seen around 142.41, with further downside targets at 141.80. On the upside, resistance lies at 145.47, followed by 145.79 and 146.62. Unless bulls manage to break decisively above the confluence of moving averages, upside attempts may continue to face headwinds.
23:21 GBP/JPY Price Analysis: Bears extend control as Pound weakens near 188
The GBP/JPY pair continued to edge lower on Wednesday, falling toward the 188 zone and marking a daily decline of nearly 0.9%. The cross remains anchored near the bottom of its range between 187.668 and 189.664, reinforcing the weight of recent selling pressure.
GBP/JPY trades near the lower end of its daily range after slipping below 189All key moving averages align with the bearish biasRSI and CCI remain neutral but momentum continues to erodeThe GBP/JPY pair continued to edge lower on Wednesday, falling toward the 188 zone and marking a daily decline of nearly 0.9%. The cross remains anchored near the bottom of its range between 187.668 and 189.664, reinforcing the weight of recent selling pressure.The overall technical picture is bearish. The MACD prints a fresh sell signal, confirming ongoing downside momentum. While the RSI at 41.24 remains in neutral territory, it shows a gradual approach toward oversold conditions. Similarly, the Stochastic %K at 37.23 and the Commodity Channel Index (CCI) at -69.48 remain neutral, yet do little to challenge the prevailing negative bias.The most compelling signal comes from the moving averages. The 20-day SMA at 191.292, the 100-day at 192.269, and the 200-day at 193.184 are all firmly sloping downward. Short-term averages such as the 10-day EMA (189.174) and SMA (188.644) also reinforce the bearish trajectory, with the price continuing to trade below all of them.Resistance awaits at 188.632, 188.644, and 189.174 — levels that must be overcome to ease the bearish pressure. For now, sellers remain in charge as GBP/JPY struggles to regain upward traction.
Daily chart
Daily chart
23:00 United States Net Long-Term TIC Flows above expectations ($35.2B) in February: Actual ($112B)
United States Net Long-Term TIC Flows above expectations ($35.2B) in February: Actual ($112B)
23:00 United States Total Net TIC Flows up to $284.7B in February from previous $-48.8B
United States Total Net TIC Flows up to $284.7B in February from previous $-48.8B
23:00 Mexican Peso rallies as USD/MXN falls below 20.00 on cautious Powell statements
The Mexican Peso continues to appreciate against the US Dollar as market appetite remains sour, while Fed Chair Jerome Powell emphasized that he remains slightly focused on inflation as the economy is near maximum employment. At the time of writing, the USD/MXN trades at 19.96, down 0.58%.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}Mexican Peso appreciates 0.58% as USD/MXN dips below 20.00 on sour risk tone, weak US Dollar.Powell signals caution on inflation, notes downside risks and solid labor market; Fed seen holding rates steady.China’s Q1 GDP beats forecasts, boosting EM currencies; chip export curbs hit US tech sector and NASDAQ.Sheinbaum downplays US tomato tariffs, says Mexico remains key supplier amid trade tensions.The Mexican Peso continues to appreciate against the US Dollar as market appetite remains sour, while Fed Chair Jerome Powell emphasized that he remains slightly focused on inflation as the economy is near maximum employment. At the time of writing, the USD/MXN trades at 19.96, down 0.58%.The market mood is downbeat as fears about tariffs remain. The US imposing restrictions on chip exports to China weighed on major semiconductor companies, sending the tech-heavy NASDAQ drifting lower. Despite this, China’s reported better-than-expected Gross Domestic Product (GDP) figures in Q1 2025 sponsored a leg-up on emerging market (EM) currencies like the Peso.Powell said that policy is well-positioned, adding that the economy is “solid” despite uncertainty and downside risks. He stated that growth likely slowed for Q1 2025, engendering the possibility of a stagflationary scenario, after saying, “The Fed's two goals are not yet in tension, but the impulse is for higher unemployment and higher inflation.”Meanwhile, Mexico’s President, Claudia Sheinbaum, continued negotiating with her US counterpart to avoid Trump's higher tariffs and said that 20.91% tariffs on tomatoes are not going to happen. She added, “This process has been done many times, and Mexico has always won. But even if this sanction were to be applied, Mexican tomatoes would still continue to be exported to the United States because there's no substitute; the main problem would be that tomatoes would be more expensive in the United States.”Across the northern border, US Retail Sales fared better than expected, while US Industrial Production contracted more than foreseen.Ahead in the docket, Mexico will feature Retail Sales, mid-month inflation for April, and Economic Activity for February until the next week. In the US, housing and Initial Jobless Claims data will be revealed on Thursday.Daily digest market movers: Mexican Peso advances amid absent economic docketMexico’s Retail Sales in January were 0.6% MoM and 2.7% YoY. If the data falls below those figures, it would be another signal that the economy is slowing down, as Banco de Mexico (Banxico) Governor Victoria Rodriguez Ceja mentioned.Before the Senate, Victoria Rodriguez Ceja said the Governing Board is still unsatisfied with the inflation rate, which stood at 3.8% YoY in March, though far from the 3% target. She added that the disinflation process and the economic slowdown justify Banxico’s dovish approach and hinted that the central bank might continue easing policy.A reduction of the interest rate differential between Mexico and the United States, suggests that further upside is seen in the USD/MXN exchange rate. This is because Banxico is expected to reduce rates by 50 basis points (bps) at the May meeting, while the Fed’s first move is projected for July.Money market players had priced in 91 bps of easing by the Fed toward the end of 2025. The first cut is expected in July.US Retail Sales rose 1.4% MoM in March, beating expectations of 1.3% and were sharply higher than February’s 0.2%, driven by strong auto sales. However, the control group, which feeds into GDP calculations, increased by only 0.4%, down from 1.3% in February and below the 0.6% forecast.The Federal Reserve revealed that US Industrial Production fell 0.3% following an increase of 0.8% in February.USD/MXN technical outlook: Mexican Peso gains ground as USD/MXN tumbles below 20.00The USD/MXN uptrend remains intact, although the pair drifts below the 20.00 level. Sellers seem poised to test the 200-day SMA at 19.86, but they will need to clear it on a daily closing, so they could remain hopeful of challenging the 19.50 figure. In that outcome, the next support would be 19.00.Conversely, if buyers push the USD/MXN exchange rate above 20.00, this could open the door to test the April 14 high of 20.29, which would open the door to the 50-day and 100-day SMA confluence near 20.30–20.36, followed by the 20.50 resistance. Clearing those levels could lead to a retest of the April 9 peak at 21.07.
Mexican Peso FAQs What key factors drive the Mexican Peso? The Mexican Peso (MXN) is the most traded currency among its Latin American peers. Its value is broadly determined by the performance of the Mexican economy, the country’s central bank’s policy, the amount of foreign investment in the country and even the levels of remittances sent by Mexicans who live abroad, particularly in the United States. Geopolitical trends can also move MXN: for example, the process of nearshoring – or the decision by some firms to relocate manufacturing capacity and supply chains closer to their home countries – is also seen as a catalyst for the Mexican currency as the country is considered a key manufacturing hub in the American continent. Another catalyst for MXN is Oil prices as Mexico is a key exporter of the commodity. How do decisions of the Banxico impact the Mexican Peso? The main objective of Mexico’s central bank, also known as Banxico, is to maintain inflation at low and stable levels (at or close to its target of 3%, the midpoint in a tolerance band of between 2% and 4%). To this end, the bank sets an appropriate level of interest rates. When inflation is too high, Banxico will attempt to tame it by raising interest rates, making it more expensive for households and businesses to borrow money, thus cooling demand and the overall economy. Higher interest rates are generally positive for the Mexican Peso (MXN) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken MXN. How does economic data influence the value of the Mexican Peso? Macroeconomic data releases are key to assess the state of the economy and can have an impact on the Mexican Peso (MXN) valuation. A strong Mexican economy, based on high economic growth, low unemployment and high confidence is good for MXN. Not only does it attract more foreign investment but it may encourage the Bank of Mexico (Banxico) to increase interest rates, particularly if this strength comes together with elevated inflation. However, if economic data is weak, MXN is likely to depreciate. How does broader risk sentiment impact the Mexican Peso? As an emerging-market currency, the Mexican Peso (MXN) tends to strive during risk-on periods, or when investors perceive that broader market risks are low and thus are eager to engage with investments that carry a higher risk. Conversely, MXN tends to weaken at times of market turbulence or economic uncertainty as investors tend to sell higher-risk assets and flee to the more-stable safe havens.
Mexican Peso FAQs What key factors drive the Mexican Peso? The Mexican Peso (MXN) is the most traded currency among its Latin American peers. Its value is broadly determined by the performance of the Mexican economy, the country’s central bank’s policy, the amount of foreign investment in the country and even the levels of remittances sent by Mexicans who live abroad, particularly in the United States. Geopolitical trends can also move MXN: for example, the process of nearshoring – or the decision by some firms to relocate manufacturing capacity and supply chains closer to their home countries – is also seen as a catalyst for the Mexican currency as the country is considered a key manufacturing hub in the American continent. Another catalyst for MXN is Oil prices as Mexico is a key exporter of the commodity. How do decisions of the Banxico impact the Mexican Peso? The main objective of Mexico’s central bank, also known as Banxico, is to maintain inflation at low and stable levels (at or close to its target of 3%, the midpoint in a tolerance band of between 2% and 4%). To this end, the bank sets an appropriate level of interest rates. When inflation is too high, Banxico will attempt to tame it by raising interest rates, making it more expensive for households and businesses to borrow money, thus cooling demand and the overall economy. Higher interest rates are generally positive for the Mexican Peso (MXN) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken MXN. How does economic data influence the value of the Mexican Peso? Macroeconomic data releases are key to assess the state of the economy and can have an impact on the Mexican Peso (MXN) valuation. A strong Mexican economy, based on high economic growth, low unemployment and high confidence is good for MXN. Not only does it attract more foreign investment but it may encourage the Bank of Mexico (Banxico) to increase interest rates, particularly if this strength comes together with elevated inflation. However, if economic data is weak, MXN is likely to depreciate. How does broader risk sentiment impact the Mexican Peso? As an emerging-market currency, the Mexican Peso (MXN) tends to strive during risk-on periods, or when investors perceive that broader market risks are low and thus are eager to engage with investments that carry a higher risk. Conversely, MXN tends to weaken at times of market turbulence or economic uncertainty as investors tend to sell higher-risk assets and flee to the more-stable safe havens.
22:26 Forex Today: What if the ECB…?
The Greenback resumed its bearish sentiment and returned to the area of multi-month troughs on Wednesday, always against an unchanged tariff backdrop and Chief Powell’s neutral message from his remarks in Chicago.
The Greenback resumed its bearish sentiment and returned to the area of multi-month troughs on Wednesday, always against an unchanged tariff backdrop and Chief Powell’s neutral message from his remarks in Chicago.Here is what you need to know on Thursday, April 17: The US Dollar Index (DXY) tumbled to the low-99.00s accompanied by further decline in US yields across the curve. Building Permits, Housing Starts, the Philly Fed Manufacturing Index, and the weekly Initial Jobless Claims are all expected.EUR/USD regained upside traction, revisiting the boundaries of 1.1400 the figure after two daily pullbacks in a row. The European Central Bank (ECB) is seen reducing its interest rates by 25 basis points.GBP/USD hit fresh tops just pips away from the key 1.3300 hurdle, losing some momentum afterwards. Next on tap on the UK calendar will be the preliminary S&P Global Manufacturing and Services PMIs on April 23.USD/JPY set aside Tuesday’s uptick and refocused on the downside, retreating to fresh seven-month lows in the sub-142.00 zone. Balance of Trade results will be published along with the weekly readings from Foreign Bond Investment.Extra gains put AUD/USD at shouting distance from the 0.6400 region, hitting new multi-week tops. The critical labour market report takes centre stage Down Under.Prices of WTI maintained their choppy performance on Wednesday, advancing modestly to around the $62.00 mark per barrel following headlines of fresh US sanctions against Chinese importers of Iranian oil.Gold prices rose to an all-time peak past the $3,340 mark per troy ounce backed by unabated tariff-led inflows into the safe haven universe and the weaker Greenback. Silver prices rose further north of the $33.00 mark per ounce, or new two-week highs.
22:26 Australian Dollar strengthens on improved sentiment despite lingering China risks
The Australian Dollar (AUD) regained ground on Wednesday, lifting toward the 0.6400 area during the American session, as improving risk sentiment and a broadly weaker US Dollar (USD) helped AUD/USD shake off recent losses.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}AUD/USD trades around the 0.6400 zone, rebounding strongly during Wednesday’s American session.Analysts flag that AUD remains vulnerable due to its China exposure and likely May RBA rate cut.Key resistance is seen near 0.64100, with technical indicators mostly aligned to the upside.The Australian Dollar (AUD) regained ground on Wednesday, lifting toward the 0.6400 area during the American session, as improving risk sentiment and a broadly weaker US Dollar (USD) helped AUD/USD shake off recent losses. Earlier gains were fueled by optimism around Chinese GDP, which grew 5.4% year-over-year in Q1, surpassing forecasts. However, the rebound remains fragile amid ongoing US-China trade tensions and the Aussie’s role as a proxy for Chinese demand.ING strategists continued to emphasize that the Aussie remains exposed as a barometer of the US-China trade dispute, noting that while the RBA is likely to ease policy next month, the bigger driver for AUD continues to be developments in trade and commodities. Domestically, the Australian economy faces pressure from global decoupling, and the RBA’s expected May rate cut could keep upside limited.Daily digest market movers: Gold price surges while US Dollar slumpsGold posted a fresh record near $3,333 per ounce, supported by safe-haven demand and lower Treasury yields.US Retail Sales rose 1.4% MoM in March to $734.9B, slightly above market expectations; YoY sales up 4.6%.Trump directed a probe into possible tariffs on all critical mineral imports, citing national security concerns.China retaliated with new export licensing for rare earths, increasing economic pressure on key US sectors.Q1 GDP in China surprised to the upside at 5.4% YoY; March activity indicators also beat forecasts.Chinese officials signaled a willingness to resume trade talks if the US adopts a more respectful tone.The Australian Dollar remains tied to US-China tensions, limiting potential upside despite strong risk appetite.RBA is still expected to cut rates in May, but China proxy status makes AUD vulnerable to external headwinds.The DXY trades defensively near the 99.70 zone, failing to benefit meaningfully from upbeat US data.
Technical analysis: AUD/USD maintains upside biasThe AUD/USD pair is flashing a bullish technical outlook after rallying into the 0.64 region. The Moving Average Convergence Divergence (MACD) indicator is generating a fresh buy signal, while the Relative Strength Index (RSI) hovers near 59, in neutral-positive territory. Supporting the bullish tilt are several key moving averages: the 10-day EMA at 0.6264, 10-day SMA at 0.6202, 20-day SMA at 0.6244, and 100-day SMA at 0.6289—all pointing upward. Only the longer-term 200-day SMA, positioned at 0.6480, remains tilted downward, suggesting some resistance may persist further up the curve.Despite some conflicting signals from the Commodity Channel Index and the Stochastic Oscillator—both showing neutral readings—the overall structure favors a continuation higher if momentum holds. Immediate support lies near 0.6325 and 0.6288, while resistance can be seen at 0.6412, followed by 0.6479.
Tariffs FAQs What are tariffs? Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas. What is the difference between taxes and tariffs? Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers. Are tariffs good or bad? There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs. What is US President Donald Trump’s tariff plan? During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.
Technical analysis: AUD/USD maintains upside biasThe AUD/USD pair is flashing a bullish technical outlook after rallying into the 0.64 region. The Moving Average Convergence Divergence (MACD) indicator is generating a fresh buy signal, while the Relative Strength Index (RSI) hovers near 59, in neutral-positive territory. Supporting the bullish tilt are several key moving averages: the 10-day EMA at 0.6264, 10-day SMA at 0.6202, 20-day SMA at 0.6244, and 100-day SMA at 0.6289—all pointing upward. Only the longer-term 200-day SMA, positioned at 0.6480, remains tilted downward, suggesting some resistance may persist further up the curve.Despite some conflicting signals from the Commodity Channel Index and the Stochastic Oscillator—both showing neutral readings—the overall structure favors a continuation higher if momentum holds. Immediate support lies near 0.6325 and 0.6288, while resistance can be seen at 0.6412, followed by 0.6479.
Tariffs FAQs What are tariffs? Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas. What is the difference between taxes and tariffs? Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers. Are tariffs good or bad? There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs. What is US President Donald Trump’s tariff plan? During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.
22:12 US Treasury Secretary Bessent: The US is ready to get Iran's energy exports to zero
The US Treasury Secretary Scott Bessent posted in X.com that the Trump administration will apply maximum pressure on Iran to disrupt the regime’s oil supply chain and exports, due to the country’s supporting terrorist proxies and partners.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
The US Treasury Secretary Scott Bessent posted in X.com that the Trump administration will apply maximum pressure on Iran to disrupt the regime’s oil supply chain and exports, due to the country’s supporting terrorist proxies and partners.He added that “We are prepared to take all actions available to get Iran’s energy exports down to zero, where they belong, and keep Americans safe.”WTI’s reaction to the headlineAfter trading near the $61.95 area, WTI spiked to $62.27 before stabilizing at its current level of $62.03 per barrel. A daily close above the April 14 high of $62.64 could exacerbate a rally towards the 20-day Simple Moving Average (SMA) at $65.69, ahead of testing the 50-day SMA at $67.81. WTI Oil FAQs What is WTI Oil? WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. What factors drive the price of WTI Oil? Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa. How does inventory data impact the price of WTI Oil The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency. How does OPEC influence the price of WTI Oil? OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
22:01 Argentina Trade Balance (MoM) registered at $323M, below expectations ($800M) in March
Argentina Trade Balance (MoM) registered at $323M, below expectations ($800M) in March
20:43 US Dollar dips while Gold hits fresh record amid tariff tensions
The US Dollar Index (DXY) is under pressure on Wednesday, seen around the 99.50 zone as risk aversion keeps investors tilted toward safe-haven assets like Gold.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}DXY was seen trading near the 99.50 area, weakening despite solid US Retail Sales.Trump’s probe into mineral tariffs and China’s export curbs weighed on sentiment.Key resistance remains around the 101.15–101.85 region; support sits near 98.93.The US Dollar Index (DXY) is under pressure on Wednesday, seen around the 99.50 zone as risk aversion keeps investors tilted toward safe-haven assets like Gold. This comes despite the release of better-than-expected US Retail Sales, which rose 1.4% month-over-month in March to $734.9 billion, above the forecasted 1.3%. Annual growth stood at 4.6%, pointing to resilient consumer activity. Still, market focus remained squarely on trade tensions, after US President Trump launched a new probe into tariffs on critical mineral imports—seen as retaliation to China’s escalating non-tariff measures and export controls.The trade spat intensified as the US maintained its 145% levies on Chinese imports while Beijing kept its 125% reciprocal tariffs. Meanwhile, Gold prices surged to a record high near $3,333 per troy ounce, fueled by fears that rising input costs from restricted mineral flows could choke key sectors like defense and tech. Global stocks dipped as investors weighed the risk of prolonged economic decoupling between the US and China.Daily digest market movers: Gold price surges while US Dollar slumpsRetail Sales in the US rose 1.4% in March, beating expectations and showing 4.6% YoY growth.President Trump ordered a probe into potential tariffs on all imports of critical minerals, raising supply concerns.China imposed licensing requirements on key rare earth exports, deepening the trade rift with the US.Despite slight diplomatic signals, China reiterated that talks would require mutual respect and cessation of threats.The Gold price reached a record above $3,330 per ounce, benefiting from weak USD and lower US yields.The US Dollar remained pressured as uncertainty over trade and inflation expectations kept demand for USD assets subdued.Global equities softened after the US announced Nvidia chip export restrictions and possible mineral tariffs.China’s Q1 GDP surprised to the upside at 5.4% YoY, along with better-than-expected industrial production and retail sales.The DXY’s technical backdrop remains weak, with momentum tilted to the downside despite solid economic data.Technical analysis: DXY pressured below key averages
The US Dollar Index paints a bearish outlook as it drifts near the 99.50 zone on Wednesday. The Relative Strength Index (RSI) stands at 26.96, firmly within oversold territory, while the Moving Average Convergence Divergence (MACD) maintains a sell signal with fresh red histogram bars. The Commodity Channel Index (CCI) at -147.57 suggests a potential buy signal, though broader momentum remains negative.All major moving averages reinforce the bearish trend. The 20-day Simple Moving Average (SMA) sits at 102.77, while the 100-day and 200-day SMAs at 106.19 and 104.69 respectively, also slope downward. The 10-day Exponential Moving Average (EMA) and SMA at 101.15 and 101.40 add to the resistance overhead. On the downside, the next meaningful support lies around 98.93, while resistance levels stand at 101.15, 101.40, and 101.85.The overall technical structure suggests that unless the DXY rebounds above the 101.00 area with strong conviction, the risk remains tilted to the downside amid softening yield differentials and macroeconomic uncertainty.
US Dollar FAQs What is the US Dollar? The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away. How do the decisions of the Federal Reserve impact the US Dollar? The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback. What is Quantitative Easing and how does it influence the US Dollar? In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar. What is Quantitative Tightening and how does it influence the US Dollar? Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.
The US Dollar Index paints a bearish outlook as it drifts near the 99.50 zone on Wednesday. The Relative Strength Index (RSI) stands at 26.96, firmly within oversold territory, while the Moving Average Convergence Divergence (MACD) maintains a sell signal with fresh red histogram bars. The Commodity Channel Index (CCI) at -147.57 suggests a potential buy signal, though broader momentum remains negative.All major moving averages reinforce the bearish trend. The 20-day Simple Moving Average (SMA) sits at 102.77, while the 100-day and 200-day SMAs at 106.19 and 104.69 respectively, also slope downward. The 10-day Exponential Moving Average (EMA) and SMA at 101.15 and 101.40 add to the resistance overhead. On the downside, the next meaningful support lies around 98.93, while resistance levels stand at 101.15, 101.40, and 101.85.The overall technical structure suggests that unless the DXY rebounds above the 101.00 area with strong conviction, the risk remains tilted to the downside amid softening yield differentials and macroeconomic uncertainty.
US Dollar FAQs What is the US Dollar? The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away. How do the decisions of the Federal Reserve impact the US Dollar? The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback. What is Quantitative Easing and how does it influence the US Dollar? In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar. What is Quantitative Tightening and how does it influence the US Dollar? Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.
20:35 Fed’s Powell: US economy is solid
Federal Reserve’s Chair Jerome Powell discussed the US economic outlook at the Economic Club of Chicago.
Federal Reserve’s Chair Jerome Powell discussed the US economic outlook at the Economic Club of Chicago.Key QuotesWell positioned to wait for greater clarity before considering any changes to policy stance. US economy 'solid' despite heightened uncertainty, downside risks. At or near maximum employment, inflation a bit above 2% goal, has come down a great deal. Growth likely slowed in first quarter of 2025 from last year's solid pace. Strong first quarter imports to weigh on GDP growth. Sharp decline in business, household sentiment and elevated uncertainty, reflecting trade policy concerns. Labour market solid, broadly in balance, not contributing to inflation. PCE prices likely rose 2.3% in 12 months through march, core PCE estimated at 2.6%. Administration's policies still evolving, effects remain highly uncertain. So far larger-than-expected tariffs likely mean higher inflation, slower growth. Inflationary effects of tariffs could be more persistent, depends ultimately on inflation expectations. Our obligation is to keep longer-term inflation expectations well-anchored. May find ourselves in the challenging scenario in which dual-mandate goals are in tension. If that occurs, we would consider how far economy is from each goal and potential time horizons for those gaps to close.
20:23 Fitch Affirms Mexico at 'BBB-'; Outlook Stable
Fitch Ratings gave Mexico a confidence vote, affirming that its long-term foreign currency issuer default rating (IDR) is is at 'BBB-' with a Stable Outlook.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
Fitch Ratings gave Mexico a confidence vote, affirming that its long-term foreign currency issuer default rating (IDR) is is at 'BBB-' with a Stable Outlook.Key highlightsCredit Fundamentals: Mexico's rating is supported by a prudent macroeconomic policy framework, robust external finances, and its large and diversified economy. The rating is constrained by muted long-term growth, weak governance indicators, fiscal challenges related to a low revenue base and budgetary rigidities, and contingent liabilities from Pemex.Stable Outlook: The Stable Outlook reflects Fitch's view that Mexico's rating has headroom to withstand the tougher economic environment implicit in our new baseline. An economic slowdown already underway is likely to worsen amid an aggressive turn toward trade protectionism in the U.S. under the Trump administration. However, we currently expect these developments will reinforce the muted growth already captured in the rating, but not worsen it in a major and lasting manner. We expect the administration of President Sheinbaum will keep its fiscal consolidation goals broadly on track despite this difficult backdrop.Elevated Tariff Uncertainty: Mexico is especially vulnerable to U.S. trade protectionism, as decades of integration have made exports to its northern neighbor a mainstay of the economy (27% of GDP in 2024). Tariffs already imposed could have significant impacts, especially in the auto sector, and the uncertainty is weighing on activity. These developments remain fluid, and the fate of the trade relationship is likely to remain unclear at least until a review of the USMCA agreement scheduled for mid-2026. Even if U.S. tariff policy preserves a preferential treatment for Mexico relative to competitors, we see dimmer prospects for "nearshoring" so long as this uncertainty persists.Economic Contraction In 2025: Real GDP growth slowed to 1.5% in 2024, ending the year on a weak note (-0.6% qoq seasonally adjusted in 4Q24) due to a falloff in public investment and elevated uncertainty. We expect a 0.4% contraction this year as tariffs, tariff-induced uncertainty, fiscal adjustments, and a slowdown in the U.S. weigh on activity. Risks are tilted to the downside, and counter-cyclical policy scope is limited.USD/MXN Reaction to Fitch's ratings headlineThe USD/MXN continues to trade lower, below the 20.00 psychological figure, with the Mexican Peso appreciating sharply. On further weakness, the exotic pair might test the 200-day Simple Moving Average (SMA) at 19.86, followed by the 19.50 figure. Otherwise, buyers could drive the pair towards the 20.00 psychological figure. Mexican Peso FAQs What key factors drive the Mexican Peso? The Mexican Peso (MXN) is the most traded currency among its Latin American peers. Its value is broadly determined by the performance of the Mexican economy, the country’s central bank’s policy, the amount of foreign investment in the country and even the levels of remittances sent by Mexicans who live abroad, particularly in the United States. Geopolitical trends can also move MXN: for example, the process of nearshoring – or the decision by some firms to relocate manufacturing capacity and supply chains closer to their home countries – is also seen as a catalyst for the Mexican currency as the country is considered a key manufacturing hub in the American continent. Another catalyst for MXN is Oil prices as Mexico is a key exporter of the commodity. How do decisions of the Banxico impact the Mexican Peso? The main objective of Mexico’s central bank, also known as Banxico, is to maintain inflation at low and stable levels (at or close to its target of 3%, the midpoint in a tolerance band of between 2% and 4%). To this end, the bank sets an appropriate level of interest rates. When inflation is too high, Banxico will attempt to tame it by raising interest rates, making it more expensive for households and businesses to borrow money, thus cooling demand and the overall economy. Higher interest rates are generally positive for the Mexican Peso (MXN) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken MXN. How does economic data influence the value of the Mexican Peso? Macroeconomic data releases are key to assess the state of the economy and can have an impact on the Mexican Peso (MXN) valuation. A strong Mexican economy, based on high economic growth, low unemployment and high confidence is good for MXN. Not only does it attract more foreign investment but it may encourage the Bank of Mexico (Banxico) to increase interest rates, particularly if this strength comes together with elevated inflation. However, if economic data is weak, MXN is likely to depreciate. How does broader risk sentiment impact the Mexican Peso? As an emerging-market currency, the Mexican Peso (MXN) tends to strive during risk-on periods, or when investors perceive that broader market risks are low and thus are eager to engage with investments that carry a higher risk. Conversely, MXN tends to weaken at times of market turbulence or economic uncertainty as investors tend to sell higher-risk assets and flee to the more-stable safe havens.
20:07 Dow Jones slides as Nvidia, AMD tumble on chip tariffs; Powell speech eyed
The Dow Jones Industrial Average (DJIA) registers minuscule losses in the mid-North American session as semiconductor-linked companies like Nvidia and AMD got hit by tariffs imposed by United States (US) President Donald Trump. The DJIA is down 0.46% above 40,100 for the second consecutive day.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}Nvidia and AMD plunge over 6% after the US imposes export license restrictions; losses could exceed $6.3 billion combined.US launches rare minerals investigation, pressures global allies to block Chinese shipments.Strong retail sales offset by weak industrial output; Fed cut odds remain low ahead of Powell’s 17:30 GMT speech. The Dow Jones Industrial Average (DJIA) registers minuscule losses in the mid-North American session as semiconductor-linked companies like Nvidia and AMD got hit by tariffs imposed by United States (US) President Donald Trump. The DJIA is down 0.46% above 40,100 for the second consecutive day.DJIA down 0.46% as US export curbs to China hit semiconductor stocks; risk sentiment weakens amid rare minerals probeUS equities tread water, particularly chipmakers Nvidia and AMD, as the US Government issued new export licensing requirements to send chips from the US to China. Hence, Nvidia and AMD plunged over 6% respectively. Reuters revealed that these measures will hit both companies.“Nvidia said it faces $5.5 billion in charges after the restrictions, while AMD said it expects an $800 million hit,” according to Reuters.Risk appetite turned sour as the US launched a rare minerals investigation after China announced export controls. The US is trying to isolate China, asking more than 70 countries to disallow China from shipping goods through their countries.On the data front, US Retail Sales exceeded estimates, while Industrial Production shrank by 0.3% MoM, more than the 0.2% expected by analysts, as revealed by the US Federal Reserve (Fed).The data didn’t move the needle regarding market pricing rate cuts by the Fed. According to CME's FedWatch Tool, traders see an 18% chance the Fed will ease rates by 25 basis points at its May meeting.Ahead, traders are eyeing Fed Chair Jerome Powell's speech at 17:30 GMT, looking for cues about the path of interest rates.Dow Jones price forecastThe Dow Jones is downward biased, though bulls have remained able to hold to gains above 40,100. Nevertheless, momentum seems to be favoring bears, which, if they push the DJIA below the latter, would exacerbate a drop to challenge the April 14 low of 39,877, ahead of the April 7 swing low of 36,480. On the other hand, a break above 40,500 opens the path to test the April 1 high at 40,909 and 41,000. Dow Jones FAQs What is the Dow Jones? The Dow Jones Industrial Average, one of the oldest stock market indices in the world, is compiled of the 30 most traded stocks in the US. The index is price-weighted rather than weighted by capitalization. It is calculated by summing the prices of the constituent stocks and dividing them by a factor, currently 0.152. The index was founded by Charles Dow, who also founded the Wall Street Journal. In later years it has been criticized for not being broadly representative enough because it only tracks 30 conglomerates, unlike broader indices such as the S&P 500. What factors impact the Dow Jones Industrial Average? Many different factors drive the Dow Jones Industrial Average (DJIA). The aggregate performance of the component companies revealed in quarterly company earnings reports is the main one. US and global macroeconomic data also contributes as it impacts on investor sentiment. The level of interest rates, set by the Federal Reserve (Fed), also influences the DJIA as it affects the cost of credit, on which many corporations are heavily reliant. Therefore, inflation can be a major driver as well as other metrics which impact the Fed decisions. What is Dow Theory? Dow Theory is a method for identifying the primary trend of the stock market developed by Charles Dow. A key step is to compare the direction of the Dow Jones Industrial Average (DJIA) and the Dow Jones Transportation Average (DJTA) and only follow trends where both are moving in the same direction. Volume is a confirmatory criteria. The theory uses elements of peak and trough analysis. Dow’s theory posits three trend phases: accumulation, when smart money starts buying or selling; public participation, when the wider public joins in; and distribution, when the smart money exits. How can I trade the DJIA? There are a number of ways to trade the DJIA. One is to use ETFs which allow investors to trade the DJIA as a single security, rather than having to buy shares in all 30 constituent companies. A leading example is the SPDR Dow Jones Industrial Average ETF (DIA). DJIA futures contracts enable traders to speculate on the future value of the index and Options provide the right, but not the obligation, to buy or sell the index at a predetermined price in the future. Mutual funds enable investors to buy a share of a diversified portfolio of DJIA stocks thus providing exposure to the overall index.
20:03 United States 20-Year Bond Auction climbed from previous 4.632% to 4.81%
United States 20-Year Bond Auction climbed from previous 4.632% to 4.81%
19:06 Breaking: Gold hits a record high around $3,330/oz
Gold prices keep their upside impulse well in place and hit an all-time peak just below the $3,330 mark per troy ounce on Wednesday. Further gains in the precious metal come from a weaker US Dollar, unabated uncertainty surrounding United States (US) tariffs and declining US yields across the curve.
Gold prices keep their upside impulse well in place and hit an all-time peak just below the $3,330 mark per troy ounce on Wednesday. Further gains in the precious metal come from a weaker US Dollar, unabated uncertainty surrounding United States (US) tariffs and declining US yields across the curve.
19:00 Russia Producer Price Index (YoY) dipped from previous 9.8% to 5.9% in March
Russia Producer Price Index (YoY) dipped from previous 9.8% to 5.9% in March
19:00 Russia Producer Price Index (MoM) declined to -1.5% in March from previous 0.9%
Russia Producer Price Index (MoM) declined to -1.5% in March from previous 0.9%
18:59 EUR/JPY Price Analysis: Euro trades higher near 162 amid bullish moving averages
The EUR/JPY pair inched higher on Wednesday ahead of the Asian session, trading near the 162 area after a 0.29% daily gain.
EUR/JPY trades near the 162 zone following a modest advance on WednesdayMACD prints a sell signal, while moving averages reinforce bullish momentumSupport aligns at 161.87 and 161.89, with resistance emerging near 162.40The EUR/JPY pair inched higher on Wednesday ahead of the Asian session, trading near the 162 area after a 0.29% daily gain. The session remained confined within a range of 161.351 to 162.279, with the pair supported by the broader bullish structure in trend indicators despite some mixed oscillator signals.The Relative Strength Index (RSI) is holding at a neutral 53.29, suggesting stable momentum. However, the Moving Average Convergence Divergence (MACD) is currently flashing a sell signal, providing a counterpoint to the prevailing uptrend. Both the Williams Percent Range and the Awesome Oscillator are neutral, offering no strong directional bias in the short term.From a trend perspective, the outlook remains constructive. The 20-day Simple Moving Average (SMA) at 161.871, the 100-day SMA at 160.718, and the 200-day SMA at 161.944 are all bullishly aligned. Additional support is echoed by the 10-day Exponential Moving Average (EMA) at 161.892 and the 10-day SMA at 161.677.
Daily chart
Daily chart
18:30 EUR/GBP Price Analysis: Cross gains traction near 0.8600 despite neutral oscillators
The EUR/GBP pair extended its upside momentum during Wednesday’s session, climbing toward the 0.8600 area after a 0.45% daily gain.
EUR/GBP trades near the 0.8600 zone after climbing higher during Wednesday’s sessionMACD prints a buy signal, while RSI and oscillators remain neutralSupport aligns at 0.85434, with resistance forming near the 0.85890 zoneThe EUR/GBP pair extended its upside momentum during Wednesday’s session, climbing toward the 0.8600 area after a 0.45% daily gain. Price action stayed mid-range between 0.85193 and 0.85765, with the bullish tone underpinned by the broader moving average structure, even as short-term oscillators signaled some hesitation.The Relative Strength Index (RSI) is holding at 59.62, reflecting neutral momentum, while the Moving Average Convergence Divergence (MACD) is currently generating a fresh buy signal. However, the Commodity Channel Index at 60.04 and the Awesome Oscillator at 0.02 remain in neutral territory, failing to add clear directional conviction.On the trend side, the structure remains constructive. The 20-day SMA at 0.84562, the 100-day SMA at 0.83551, and the 200-day SMA at 0.83799 are all sloping upward, confirming the underlying bullish pressure. Additional short-term support is provided by the 10-day Exponential Moving Average at 0.85434 and the 10-day SMA at 0.85599.
Daily chart
Daily chart
18:14 GBP/USD rises as UK inflation cools, BoE rate cut bets increase
The British Pound advanced during the North American session, posting soft gains of 0.14% against the Greenback as inflation slowed to its weakest level in three months. This adds to pressure on the Bank of England to reduce interest rates.
.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a}UK inflation drops to 2.6% YoY in March, missing BoE projections and reinforcing 86% odds of May rate cut.Strong US retail sales masked by weak control group; DXY plunges to 99.44 amid risk-off mood.GBP/USD could extend gains unless Powell delivers a hawkish surprise in his upcoming remarks.The British Pound advanced during the North American session, posting soft gains of 0.14% against the Greenback as inflation slowed to its weakest level in three months. This adds to pressure on the Bank of England to reduce interest rates. At the time of writing, the GBP/USD trades at 1.3248 after hitting a daily peak of 1.3291.GBP/USD up as softer CPI fuels May rate cut expectations; focus shifts to Powell speechInflation in the UK dipped from 2.8% in February to 2.6% YoY in March, below estimates of 2.7% and projections of the Bank of England (BoE). In February, the BoE expected prices to rise to 3.6% in April, expecting tariffs and household utility bills would go up.Money market players had priced in an 86% chance that the BoE would cut the Bank Rate 25 basis points (bps) on May 8.Across the pond, US Retail Sales in March rose, underpinned by car sales, as revealed by the Commerce Department. Sales expanded by 1.4% MoM, up from estimates of 1.3% and crushed February’s 0.2% figure. Although the numbers were positive, the control group, used to calculate Gross Domestic Product (GDP), rose by just 0.4%, down from 1.3% in the prior month and missing forecasts of 0.6%.In the meantime, Sino-US trade tensions keep the market mood sour, as Wall Street posts losses while the buck continues to drop. The US Dollar Index (DXY), which tracks the performance of the American currency against a basket of six other currencies, falls 0.66% to 99.44.Given the backdrop, the GBP/USD is set to continue to trend up, but a speech of Fed Chair Jerome Powell at 17:30 GMT could shift the direction. If Powell turns hawkish, expect further downside on the pair, which could pave the way to test the 1.3200 figure.GBP/USD Price Forecast: Technical outlookThe GBP/USD remains upward biased, but as of writing, has retreated from yearly peaks, an indication that buyers are not finding acceptance of prices near 1.33. A daily close above 1.3250 could pave the way to test the former. Otherwise, the pair could dip and challenge the 1.32 figure. If surpassed, the next support will be the April 15 swing low of 1.3163. British Pound PRICE Today The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the US Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.85% -0.14% -0.43% -0.52% -0.82% -0.39% -0.98% EUR 0.85% 0.74% 0.44% 0.33% 0.26% 0.49% -0.13% GBP 0.14% -0.74% -0.30% -0.40% -0.47% -0.26% -0.81% JPY 0.43% -0.44% 0.30% -0.09% -0.10% 0.09% -0.60% CAD 0.52% -0.33% 0.40% 0.09% -0.03% 0.17% -0.40% AUD 0.82% -0.26% 0.47% 0.10% 0.03% 0.19% -0.35% NZD 0.39% -0.49% 0.26% -0.09% -0.17% -0.19% -0.56% CHF 0.98% 0.13% 0.81% 0.60% 0.40% 0.35% 0.56% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
17:30 United States EIA Crude Oil Stocks Change registered at 0.515M above expectations (0.4M) in April 11
United States EIA Crude Oil Stocks Change registered at 0.515M above expectations (0.4M) in April 11
17:28 USD/CAD slumps further as BoC leaves interest rates steady at 2.75%
The USD/CAD pair extends its downside below 1.3900 during North American trading hours on Wednesday. The Loonie pair weakens further as the Bank of Canada (BoC) leaves its borrowing rates at 2.75%, as expected.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}USD/CAD declines further below 1.3900 as the BoC keeps interest rates at 2.75%, as expected.BoC Macklem warned that Trump’s tariff policies could impact on business investment in Canada.Investors await the Fed Powell’s speech for fresh guidance on the monetary policy outlook.The USD/CAD pair extends its downside below 1.3900 during North American trading hours on Wednesday. The Loonie pair weakens further as the Bank of Canada (BoC) leaves its borrowing rates at 2.75%, as expected. This is the first interest rate meeting since June when the central bank has not reduced interest rates. Till now, the BoC has cut its borrowing rates by 225 basis points (bps).The BoC has shifted its stance from “dovish” to “hold” as officials seek clarity on how the trade policy by United States (US) President Donald Trump will shape the Canadian economic outlook. “We will proceed carefully and be less forward-looking than usual until the situation becomes clearer,” BoC Governor Tiff Macklem said. He warned that the available data is increasingly pointing to a “considerable slowing in business investment and household spending” in the face of reciprocal tariffs by US President Trump.Earlier in the day, the USD/CAD pair was already weak as the US Dollar (USD) has retreated after a short-lived recovery move on Tuesday. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, slumps to near 99.50.More downside in the US Dollar looks likely amid fears that the US-China trade war could lead to the economy to a recession. US businesses lack ability to increase their manufacturing facility that could produce similar amount of goods imported from China. Such a scenario leads to supply issues and result in a slowdown in business activity.The US-China trade war brewed after Beijing announced counter-tariffs on reciprocal tariffs imposed by Donald Trump on the so-called “Liberation Day”.Meanwhile, investors await Federal Reserve (Fed) Chair Jerome Powell’s speech at 17:30 GMT for fresh interest rate guidance. Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports. Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. How do the decisions of the Bank of Canada impact the Canadian Dollar? The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive. How does the price of Oil impact the Canadian Dollar? The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD. How does inflation data impact the value of the Canadian Dollar? While inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar. How does economic data influence the value of the Canadian Dollar? Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall.
17:00 United States NAHB Housing Market Index came in at 40, above forecasts (37) in April
United States NAHB Housing Market Index came in at 40, above forecasts (37) in April
16:57 USD/JPY struggles to hold 142.00 as US-China trade war batters US Dollar
The USD/JPY pair struggles to hold the key support of 142.00 during North American trading hours on Wednesday, the lowest level seen in over four months. The pair faces selling pressure as the US Dollar has been hit hard by intensifying trade war between the United States (US) and China.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}USD/JPY sees more downside below 142.00 dur to significant weakness in the US Dollar.US President Trump aims to reduce dependency on China for vital minerals.Investors await Fed Powell’s speech and the Japan’s National CPI data for March.The USD/JPY pair struggles to hold the key support of 142.00 during North American trading hours on Wednesday, the lowest level seen in over four months. The pair faces selling pressure as the US Dollar has been hit hard by intensifying trade war between the United States (US) and China.The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, falls back to near 99.50 after a short-lived recovery move to near 100.00 on Tuesday.The tariff war between the US and China has escalated further as President Donald Trump vows to reduce dependency on China for critical minerals, which have application in various industries, including defense and technology. The tussle between Beijing and Washington started when the former retaliated against the imposition of reciprocal tariffs by Trump, which have now increased to 125%.Meanwhile, growing expectations that the Federal Reserve (Fed) will cut interest rates aggressively this year have also weighed on the US Dollar. For fresh cues on the interest rate outlook, investors await Fed Chair Jerome Powell’s speech, which is scheduled at 17:30 GMT.On the Tokyo front, investors await the National Consumer Price Index (CPI) data for March, which will be released on Friday. The inflation data will influence market expectations about whether the Bank of Japan (BoJ) will cut interest rates in the May policy meeting. Economists expect the Japan National CPI ex. Fresh Food to have risen at a faster pace of 3.2%, against 3% increase seen in February. US Dollar FAQs What is the US Dollar? The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022.
Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away. How do the decisions of the Federal Reserve impact the US Dollar? The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates.
When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback. What is Quantitative Easing and how does it influence the US Dollar? In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system.
It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar. What is Quantitative Tightening and how does it influence the US Dollar? Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.
16:45 Canada BoC Interest Rate Decision meets forecasts (2.75%)
Canada BoC Interest Rate Decision meets forecasts (2.75%)
16:16 United States Capacity Utilization below expectations (78%) in March: Actual (77.8%)
United States Capacity Utilization below expectations (78%) in March: Actual (77.8%)
16:15 United States Industrial Production (MoM) below expectations (-0.2%) in March: Actual (-0.3%)
United States Industrial Production (MoM) below expectations (-0.2%) in March: Actual (-0.3%)
16:13 JPY climbs as trade talks begin in DC – Scotiabank
The Japanese Yen (JPY) is up 0.4% against the US Dollar (USD), holding mid-pack among G10 peers as markets eye Japan-US trade talks in Washington.
The Japanese Yen (JPY) is up 0.4% against the US Dollar (USD), holding mid-pack among G10 peers as markets eye Japan-US trade talks in Washington. With President Trump expected to attend, the meetings could mark a turning point for recent JPY strength, which has been fueled by geopolitical uncertainty. Any easing in trade tensions may weigh on the safe-haven yen if global equities rebound, Scotiabank's Chief FX Strategist Shaun Osborne notes. JPY rises ahead of key Japan-US trade talks "JPY is up 0.4% vs. the USD and a mid-performer among the G10, entering Wednesday’s NA session with a focus on trade as Japan’s chief trade negotiator visits Washington for talks with his US counterparts. President Trump is also set to be attending the meeting." "Japan’s recent performance has largely been driven by trade tensions with notable gains on the particularly turbulent sessions of April 3 and 10. An easing in trade tensions which helps lift global stocks could prove a near-term headwind for the yen".
16:09 EUR rises within range – Scotiabank
Euro (EUR) is up an impressive 0.7% against the US Dollar (USD) and recovering back toward the upper end of its four- session range, strengthening in tandem with its regional peers Swiss Franc (CHF) and Swedish Krona (SEK), Scotiabank's Chief FX Strategist Shaun Osborne notes.
Euro (EUR) is up an impressive 0.7% against the US Dollar (USD) and recovering back toward the upper end of its four- session range, strengthening in tandem with its regional peers Swiss Franc (CHF) and Swedish Krona (SEK), Scotiabank's Chief FX Strategist Shaun Osborne notes. EUR rises on as-expected CPI ahead of ECB Thursday"Final euro area March CPI figures were in line with expectations (2.2% y/y headline, 2.4% y/y core), and rate expectations for Thursday’s ECB have remained largely unchanged pricing in one full 25bpt cut for the meeting. The market narrative around trade continues to dictate near-term movement in EUR as tensions provide support and easing concerns provide for consolidation.""EUR/USD’s consolidation is extending for a fourth session with movement roughly bound between the mid-1.12s and mid-1.14s. Momentum remains overbought with a 70+ RSI and the signal may be hinting to exhaustion."
16:09 CAD regains some ground ahead of BoC policy decision – Scotiabank
The Canadian Dollar (CAD) lost ground yesterday after weaker than expected CPI data lifted market speculation that the BoC could cut interest rates at today’s policy decision (13:45 GMT), Scotiabank's Chief FX Strategist Shaun Osborne notes.
The Canadian Dollar (CAD) lost ground yesterday after weaker than expected CPI data lifted market speculation that the BoC could cut interest rates at today’s policy decision (13:45 GMT), Scotiabank's Chief FX Strategist Shaun Osborne notes. Broader trends remain bearish"The CAD is regaining much of the ground lost on the data yesterday, however, and should be able to improve a little more if the Bank matches the street consensus for a hold decision. Swaps are pricing in a little more risk of a cut but pricing remains equivocal at best." "Policymakers may want more clarity on the fluid tariff situation before deciding to ease policy again. The Bank releases its updated MPR this morning at 10ET and Governor Macklem and Senior DG Rogers will speak at 10.30ET." "Solid gains in the USD yesterday following the stalling in the USD decline in the low 1.38 area may signal a short-term low for USD/CAD at least. Broader trends remain bearish, however, which suggests limited scope for the USD to extend gains. Resistance is 1.4000 /25. Support is 1.3825/45."
16:08 GBP extends rally for seventh session – Scotiabank
Pound Sterling (GBP) is up 0.3% vs. the US Dollar (USD) and a mid-performer among the G10 currencies as it extends its gains for a seventh consecutive session and pushes toward its prior (September) highs around 1.34, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Pound Sterling (GBP) is up 0.3% vs. the US Dollar (USD) and a mid-performer among the G10 currencies as it extends its gains for a seventh consecutive session and pushes toward its prior (September) highs around 1.34, Scotiabank's Chief FX Strategist Shaun Osborne notes. Trade détente is GBP positive"The CPI release for March disappointed slightly on headline (2.6% y/y vs. 2.7% y/y exp.) and was as expected on core (3.4%). Trade tensions also remain a critical driver for GBP." "GBP/USD’s gains have extended for a seventh consecutive session and momentum remains bullish with an RSI near the overbought threshold at 70. We look to near-term resistance around 1.33, and beyond that, the September high around 1.34. Near-term support is expected between 1.3220 and 1.32."
15:58 USD: Trade tensions keep US markets on the defensive – Scotiabank
The USD is trading defensively this morning again, while US Treasurys are weaker (and underperforming) and US equity futures are softer. Global stocks are lower after the US government said it would require Nvidia to obtain a license to export one of its chips to China.
The USD is trading defensively this morning again, while US Treasurys are weaker (and underperforming) and US equity futures are softer. Global stocks are lower after the US government said it would require Nvidia to obtain a license to export one of its chips to China. The US government also launched a probe into the need for tariffs on critical minerals, Scotiabank's Chief FX Strategist Shaun Osborne notes. USD trades softer versus peers as US bonds and stock futures ease"China responded to calls from the US to start trade talks by saying it is open to discussion if President Trump shows respect. US/Japan trade talks start today and the president will be in attendance. China reported stronger than expected Q1 GDP (5.4% Y/Y) earlier. Industrial production and retail sales figures were also above expectations. The data may reflect a bump in activity ahead of tariffs which will are all but certain to dampen activity significantly in the months ahead. Market sentiment remains fragile amid the barrage of tariff and trade-related news." "Investors continue to shun the USD—and are cool on USD-denominated assets—while trade tensions persist. The worry persists that the USD will weaken further either as an indirect consequence of trade policy which reduces global imbalances (and reduces demand for US assets as a consequence) or more directly as a result of policy choices. Short-term patterns suggest the DXY may have peaked yesterday around 100.25; broader signals imply the index remains prone to more losses on a sustained push under 99."
15:36 US Retail Sales rise by 1.4% in March vs. 1.3% expected
Retail Sales in the United States (US) rose by 1.4% in March to $734.9 billion, the US Census Bureau announced on Wednesday. This reading followed the 0.2% increase recorded in February and came in slightly better than the market expectation for an increase 1.3%.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}Retail Sales in the US rose more than expected in March.The US Dollar Index stays deep in negative territory below 100.00.Retail Sales in the United States (US) rose by 1.4% in March to $734.9 billion, the US Census Bureau announced on Wednesday. This reading followed the 0.2% increase recorded in February and came in slightly better than the market expectation for an increase 1.3%. On a yearly basis, Retail Sales were up 4.6%."Total sales for the January 2025 through March 2025 period were up 4.1% from the same period," the press release read. "Retail trade sales were up 1.4% from February 2025, and up 4.6% from last year."Market reactionThe US Dollar Index struggles to gain traction despite the upbeat data and was last seen losing 0.42% on the day at 99.67. US Dollar FAQs What is the US Dollar? The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022.
Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away. How do the decisions of the Federal Reserve impact the US Dollar? The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates.
When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback. What is Quantitative Easing and how does it influence the US Dollar? In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system.
It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar. What is Quantitative Tightening and how does it influence the US Dollar? Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.
15:30 United States Retail Sales (MoM) registered at 1.4% above expectations (1.3%) in March
United States Retail Sales (MoM) registered at 1.4% above expectations (1.3%) in March
15:30 United States Retail Sales ex Autos (MoM) came in at 0.5%, above expectations (0.3%) in March
United States Retail Sales ex Autos (MoM) came in at 0.5%, above expectations (0.3%) in March
15:30 United States Retail Sales (YoY): 4.6% (March) vs 3.1%
United States Retail Sales (YoY): 4.6% (March) vs 3.1%
15:30 United States Retail Sales Control Group down to 0.4% in March from previous 1%
United States Retail Sales Control Group down to 0.4% in March from previous 1%
14:29 NZD/USD: A lower beta to AUD – ING
The New Zealand dollar has shown resilience compared to its Australian counterpart, as markets see less tariff risk for NZ.
The New Zealand dollar has shown resilience compared to its Australian counterpart, as markets see less tariff risk for NZ. Despite the RBNZ’s dovish stance—potentially delivering up to 75bp in cuts—NZD is behaving like a lower-beta version of the AUD in response to trade headlines, ING’s FX analysts Francesco Pesole and Chris Turner note.NZD shields itself better than AUD amid tariff risks"Markets have consolidated the view that the New Zealand dollar is not as exposed to tariffs as AUD. That’s due to Australia’s largest reliance on China demand. New Zealand exports more than Australia to the US in GDP terms (2.2% vs 0.9%), but both countries were only hit by the base 10% tariff rate even before the 90-day pause." "The Reserve Bank of New Zealand remains very open to cutting rates again. We expect either 50bp or 75bp of additional easing, with a bias towards 75bp as the Bank has shown much more focus on growth than inflation.""Front-end rates aren’t affecting FX much anyway. We expect NZD to continue trading as a lower beta version of AUD when it comes to trade headlines."
14:25 Currency weakens despite favourable data – Commerzbank
This morning, the PBoC raised its USD/CNY exchange rate fixing again, paving the way for a slightly weaker CNY, Commerzbank's FX analyst Volkmar Baur notes.
This morning, the PBoC raised its USD/CNY exchange rate fixing again, paving the way for a slightly weaker CNY, Commerzbank's FX analyst Volkmar Baur notes. PBoC allows mild CNY weakness despite strong GDP"The fixing, around which the USD/CNY exchange rate is then allowed to fluctuate within a 2% band, was the highest since September 2023 and shows that the Chinese government can live with a slightly weaker currency, but wants to keep the daily movements relatively small so that the market does not develop too much momentum of its own.""Looking at this morning's economic data, one could be forgiven for thinking that a weaker currency is not needed at all. First quarter GDP growth was surprisingly strong at 5.4% y/y (expected 5.2%) and the monthly data for March also points to good momentum. However, given the sharp escalation in the trade war with the US since 2 April, these data are likely to be less meaningful than they might otherwise be.""As such, the CNY is expected to continue to be driven by political rather than economic developments. And as the US-China divide appears to be hardening, a prolonged period of mild CNY weakness is more likely."
14:22 USD/CAD declines to near 1.3900 ahead of BoC’s monetary policy decision
The USD/CAD pair falls sharply to near 1.3900 in Wednesday’s European session. The Loonie pair weakens as the US Dollar (USD) falls back after a short-recovery move on Tuesday. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, slumps to near 99.40.
.fxs-event-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-event-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-event-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-event-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:12px}.fxs-event-module-section:last-child{border:none;margin-bottom:0}.fxs-event-module-header{color:#1b1c23;font-weight:700;font-size:16px;font-style:normal;line-height:20px;margin:0;padding:4px 0;background-color:#fff;border:none;position:relative;padding-right:32px}.fxs-event-module-header label{cursor:pointer;display:block}.fxs-event-module-header label:after,.fxs-event-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-event-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-event-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]{display:none}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:after{transform:rotate(45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-event-module-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0;margin-top:8px}.fxs-event-module-content.why-matters{max-height:0;overflow:hidden;transition:all .3s ease-in-out}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-content.why-matters{max-height:1000px;margin-top:8px}.fxs-event-module-calendar-title{color:#1b1c23;font-size:17.6px;font-family:Roboto;font-style:normal;font-weight:700;line-height:20.8px;margin:4px 0 0 0}.fxs-event-module-calendar-title-description-wrapper{display:flex;flex-direction:column;gap:12px;border-bottom:1px solid #ececf1;padding-bottom:16px;margin-bottom:16px}.fxs-event-module-inner-calendar{padding:16px}.fxs-event-module-inner-calendar .fxs-event-module-section{padding:0}.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:12.8px;line-height:17px}.fxs-event-module-read-more{display:flex;align-items:center;align-content:center;gap:4px;color:#e4871b;font-size:12.8px;font-family:Roboto;font-style:normal;font-weight:700;line-height:17px;text-decoration:none}.fxs-event-module-read-more svg{width:16px;height:16px}.fxs-event-module-read-more:hover span{text-decoration:underline}.fxs-event-module-release{margin:0;display:flex;flex-direction:column;gap:2px}.fxs-event-module-release>p{font-size:12.8px;font-family:Roboto;font-style:normal;line-height:17px;margin:0}.fxs-event-module-release>p>strong{color:#8c8d91;font-weight:700}.fxs-event-module-release>p>span{color:#8c8d91;font-weight:400}.fxs-event-module-release>p>a{color:#e4871b;font-weight:700;text-decoration:none}.fxs-event-module-release>p>a:hover>span{text-decoration:underline}.fxs-event-module-inner-calendar .fxs-event-module-container{margin:16px 0 0 0;border-top:1px solid #ececf1;padding:12px 0 0 0}@media (min-width:680px){.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:14.72px;line-height:20px}.fxs-event-module-release p{font-size:14.72px;line-height:20px}.fxs-event-module-read-more{font-size:14.72px;line-height:20px}.fxs-event-module-calendar-title{font-size:22.4px;line-height:25.6px}.fxs-event-module-title{font-size:19.2px;line-height:27.2px}.fxs-event-module-header{font-size:19.2px;line-height:25.92px}.fxs-event-module-content{font-size:16px;line-height:21.6px}}USD/CAD slumps to near 1.3900 due to a significant weakness in the US Dollar.Market participants start doubting the USD’s credibility due to Trump’s abrupt tariff announcements.Investors await the BoC’s interest rate decision and Fed Powell’s speech.The USD/CAD pair falls sharply to near 1.3900 in Wednesday’s European session. The Loonie pair weakens as the US Dollar (USD) falls back after a short-recovery move on Tuesday. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, slumps to near 99.40.Investors continue to dump the US Dollar amid fears that the escalating tariff war between the United States (US) and China would result in a stagflation. The incapability of the US to meet lost imports from China in terms of quantity and prices in a short span of time could lead to an increase in inflationary pressures and slow down the economic growth.Meanwhile, diminishing credibility of the US Dollar due to erratic tariff announcements by US President Donald Trump has also weighed on the USD Index.Going forward, the major trigger for the US Dollar will be Federal Reserve (Fed) Chair Jerome Powell’s speech, which is scheduled at 17:30 GMT.In the neighbouring nation, investors will focus on the Bank of Canada’s (BoC) monetary policy decision, which will be announced at 13:45 GMT. The BoC is expected to leave interest rates at their current levels of 2.75%. This would be the first meeting since June in which the central bank will keep borrowing rates steady. Till now, the BoC has reduced its key borrowing rates by 225 basis points (bps).Investors will also pay close attention on Boc Governor Tiff Macklem’s press conference to get cues about how Trump’s international policy will shape the monetary policy and the economic outlook. Economic Indicator Fed's Chair Powell speech Jerome H. Powell took office as a member of the Board of Governors of the Federal Reserve System on May 25, 2012, to fill an unexpired term. On November 2, 2017, President Donald Trump nominated Powell to serve as the next Chairman of the Federal Reserve. Powell assumed office as Chair on February 5, 2018. Read more. Next release: Wed Apr 16, 2025 17:30 Frequency: Irregular Consensus: - Previous: - Source: Federal Reserve
14:18 AUD/USD: Still the most vulnerable – ING
AUD/USD has retraced its losses, but the Australian dollar remains fragile amid cross weakness and persistent US-China trade tensions.
AUD/USD has retraced its losses, but the Australian dollar remains fragile amid cross weakness and persistent US-China trade tensions. With the RBA likely to cut in May and AUD still acting as a China proxy, downside risks remain firmly in place, ING’s FX analysts Francesco Pesole and Chris Turner note.China ties leave AUD exposed despite RBA outlook "After a 6% temporary drop, AUD/USD is back at pre-liberation day levels. But the Aussie dollar is significantly weaker in the crosses, and the rebound has mostly been driven by the USD confidence crisis.""AUD remains the key barometer of the US-China trade spat. While Trump’s next move on trade has proven hard to predict, it is clear that tariffs on China are stickier than elsewhere. That places AUD in a still unfavourable situation.""The Reserve Bank of Australia is widely expected to cut in May, although a 50bp cut (which is 40bp priced in) looks a bit too aggressive. Anyway, the RBA is a marginal driver of AUD, which remains more vulnerable than any other G10 currencies due to its China-proxy character."
14:15 CAD: Tariffs recede into the background for the market, but does the same apply for the BoC? – Commerzbank
The tariffs no longer seem to be a major issue for the CAD, especially since the US administration has exempted Canada from the reciprocal tariffs.
The tariffs no longer seem to be a major issue for the CAD, especially since the US administration has exempted Canada from the reciprocal tariffs. In fact, USD/CAD is trading at levels we have not seen since the US election - although much of the move lower was also driven by USD weakness, Commerzbank's FX analyst Michael Pfister notes.Tariff risks still linger for BoC"We were already cautious during the period of CAD weakness and now, in the opposite direction, we feel compelled to repeat our warnings. We would be cautious about assuming that the tariff issue has been resolved for Canada. At the moment, no one can say for sure what Donald Trump's next target will be. And similar to the phase when Canada was somewhat the main target and we repeatedly stressed that Trump had probably not forgotten other countries, he has not forgotten Canada either, even if the focus is on China for the time being.""Nowhere else is the impact of the new US trade policy as pronounced as in Canada. Although the Canadian real economy was showing tentative signs of recovery towards the end of last year, since Donald Trump took office (as in the US), sentiment indicators have collapsed (see bottom left chart). And we have repeatedly pointed out here that the labour market is not experiencing particularly good times.""Whether the BoC cuts rates again today is not so important. What is more important is whether it hints at further rate cuts in the coming months and how strongly it emphasises the risks to the real economy. We would not be quite as sure as the market that the BoC has already forgotten about the impact of the US tariffs. Accordingly, we would not be surprised if the BoC sounds rather dovish today, which would likely weigh on the CAD."
14:13 Gold strengthens as Trump retaliates against China’s export control on rare minerals
Gold price (XAU/USD) extends bullish momentum and posts a fresh all-time high (ATH) near $3,318 during European trading hours on Wednesday. The precious metal remains an attractive investment amid heightening global trade tensions.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}Gold price refreshes ATH above $3,300 as US President Trump plans to reduce dependency on China for critical minerals.Investors doubt the credibility of the US Dollar due to Trump’s abrupt decision on international policies.Fed Powell is expected to provide fresh guidance on the monetary policy outlook.Gold price (XAU/USD) extends bullish momentum and posts a fresh all-time high (ATH) near $3,318 during European trading hours on Wednesday. The precious metal remains an attractive investment amid heightening global trade tensions. The intensifying trade war between the United States (US) and China has forced financial market participants to stay on the safe-haven fleet, assuming that the tussle for dominance between them is painful for the global economy.The tariff war between the world’s largest powerhouses has escalated further as US President Donald Trump ordered his team on late Tuesday to probe into potential new tariffs on all imports of critical minerals, in an effort to reduce their dependency on China. US dependency on minerals imports "raises the potential for risks to national security, defense readiness, price stability, and economic prosperity and resilience," Trump said in the order, Reuters reported.Donald Trump has taken a step to reassess levies on vital minerals after Beijing announced a non-tariff barrier on their exports by establishing a licensing system. Earlier this month, Beijing also imposed export restrictions on six heavy rare earth metals and rare earth magnets. Market experts worry that the US economy could be vulnerable without these minerals, as they barely produce them, given their application in many industries, including defence and technology.Beijing has imposed restrictive controls on exports of rare minerals to the US in retaliation for hefty reciprocal tariffs imposed by Donald Trump on them. Till now, the US has raised additional duties on Chinese imports to 145%. At the same time, China has also imposed 125% tariffs on US imports. Meanwhile, Trump has declared a 90-day pause on reciprocal tariffs for the rest of his trading partners.Daily digest market movers: Gold outperforms amid weakness in US DollarA sharp upside in the Gold price is also driven by sheer weakness in the US Dollar (USD). The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, slumps to near 99.50, holding near its lowest level in three years. Technically, weakness in the US Dollar makes the Gold price an attractive bet for investors.The US Dollar has been facing an intense sell-off as investors worry that the US-China trade war is more painful for the US economy than it is for the rest of the world. Market participants expect that substitutes of Chinese products available in the US economy are incapable of matching the price and quantity in a short span of time due to the absence of manufacturing facilities and a low-cost competitive advantage. This could lead US businesses to raise prices of their goods to offset the constant demand, which will prompt inflation and diminish the purchasing power of households. Such a scenario could stem stagflation in the US economy and is unfavorable for the US Dollar.Additionally, investors are losing faith in the US Dollar’s label as a safe-haven asset due to ever-changing tariff headlines from President Trump. His sudden decision to declare a 90-day pause on the execution of reciprocal tariffs and signals to exempt duty on automobiles for some time has forced investors to doubt the credibility of the US Dollar.Meanwhile, the recovery in the US bond yields due to escalated fears of a US economic slowdown has also failed to lighten the strength in the Gold price. 10-year US Treasury yields have rebounded to near 4.34% after correcting almost 6.6% in the last two trading days from their recent high of 4.60%. Historically, higher yields on interest-bearing assets diminish the appeal of non-yielding assets, such as Gold. However, Treasury yields have not created any havoc for Gold bulls despite rising 11% in over a week, as traders have raised their bets supporting the Federal Reserve (Fed) to cut interest rates by 100 basis points (bps) this year. Traders have increased Fed dovish bets amid firming US economic slowdown risks.For fresh cues on the interest rate outlook, investors await Fed Chair Jerome Powell’s speech at the Economic Club of Chicago at 17:30 GMT. Technical Analysis: Gold breaks above $3,300Gold price tests the region above $3,300 and posts a fresh all-time high around $3,318 on Wednesday. The outlook of the Gold price is upbeat as the 20-day Exponential Moving Average (EMA) slopes higher, trading around $3,112.The 14-day Relative Strength Index (RSI) trades above 70.00, suggesting a strong bullish momentum.Looking down, the 20-day EMA will act as a key support zone for the pair. On the upside, the round level of $3,400 will act as a key resistance zone. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
14:02 USD/CAD: Keeping risk premium on for longer – ING
While a Bank of Canada hold is widely expected, it's the looming US-Canada trade tensions and the outcome of Canada's late-April election that may shape the CAD's path.
While a Bank of Canada hold is widely expected, it's the looming US-Canada trade tensions and the outcome of Canada's late-April election that may shape the CAD's path. With US growth concerns persisting and new tariff risks on the horizon, USD/CAD remains vulnerable to volatilityING’s FX analysts Francesco Pesole and Chris Turner note.USD/CAD premium persists on soft US outlook"We are releasing this note on the day the Bank of Canada announces policy, and we narrowly expect a hold. That does not have major implications for USD/CAD.""The Fed-BoC gap has only moved around 20bp in favour of CAD in April, which is not enough to justify USD/CAD below 1.40. But our view is that USD will continue discounting soft growth expectations for longer, which can justify the USD risk premium.""The direction of the US-Canada trade relationship will be the main determinant of CAD moves ahead. Canada elects a new government at the end of April; Liberal leader Mark Carney is slightly ahead in the polls. Whoever wins promises to fight Trump on trade, and risks that new tariffs will be threatened ahead of very tricky USMCA renewal talks leave CAD at risk of corrections."
14:00 South Africa Retail Sales (YoY): 3.9% (February) vs previous 7%
South Africa Retail Sales (YoY): 3.9% (February) vs previous 7%
14:00 United States MBA Mortgage Applications dipped from previous 20% to -8.5% in April 11
United States MBA Mortgage Applications dipped from previous 20% to -8.5% in April 11
13:59 China: Stronger-than-expected Q1 growth – Standard Chartered
Q1 GDP growth remained solid at 5.4% y/y, providing a cushion to meet the annual growth target. March real activity growth beat market consensus by a significant margin; outlook remains cautious.
Q1 GDP growth remained solid at 5.4% y/y, providing a cushion to meet the annual growth target. March real activity growth beat market consensus by a significant margin; outlook remains cautious. Front-loaded policy measures to help mitigate downside risks; more stimulus to be rolled out if needed, Standard Chartered's economists note. Robust production and consumption in Q1"China’s Q1 real GDP growth remained resilient at 5.4% y/y. Meanwhile, seasonally adjusted GDP growth eased modestly to 1.2% q/q in Q1 from 1.6% in Q4-2024. The stronger-than-expected y/y growth in Q1 likely provides a cushion for meeting the annual growth target of c.5% this year against the backdrop of increasing external headwinds.""Real activity growth accelerated in March, beating market consensus by a significant margin. Industrial production (IP) growth jumped to 7.7% y/y in March from 5.9% in January-February, likely indicating front-loaded activity, along with a 12.4% surge in y/y export growth. Consumer goods retail sales growth edged up 1.9ppt to 5.9% y/y, registering the fastest growth since end-2023, partly thanks to base effects and the trade-in programme. Services retail sales growth remained solid at 5% y/y. We estimate that fixed asset investment growth picked up 0.2ppt to 4.3% y/y in March on faster private, manufacturing and infrastructure investment growth. Meanwhile, real estate investment continued to contract by 10% y/y. Last but not least, services production index growth accelerated 0.7ppt from 2M-2025 to 6.3% y/y.""Despite the solid performance in Q1, the unprecedentedly high bilateral tariffs between the US and China imposed in early April will likely weigh sharply on the trade and growth outlook. We continue to expect fiscal policy to do the heavy lifting, supplemented by easing monetary policy, to mitigate downside risks. We estimate that an additional 1.0-1.5% of GDP of fiscal stimulus would be needed if the tariffs stay at current levels for a long period, to prevent growth from significantly undershooting the growth target."
13:50 EUR/CHF: Tough times for the SNB – ING
The Swiss franc has surged amid global equity turmoil and waning confidence in the dollar.
The Swiss franc has surged amid global equity turmoil and waning confidence in the dollar. With the SNB likely to cut rates reluctantly in June and FX interventions constrained by U.S. trade threats, the franc may stay firm — though Q2 risks remain if risk assets continue to slide, ING’s FX analysts Francesco Pesole and Chris Turner note.CHF shines as markets seek non-dollar haven"The sharp sell-off in global equity markets and the search for a non-dollar safe haven has seen the Swiss franc perform very well. The Swiss National Bank faces the twin challenges of a) reluctantly cutting the policy rate to 0% when it meets in June and b) facing constraints on FX intervention.""One of the reasons the CHF may be doing so well is the intervention story. Washington’s key call to trade partners is to stop preventing your currencies from appreciating. Switzerland briefly faced a 31% ‘reciprocal’ tariff and could be bounced back there if it undertakes persistent FX intervention.""We see downside risks in the second quarter if risk assets remain vulnerable."
13:47 Safety, export markets and oil as drivers – Commerzbank
Much has happened since the US 'Liberation Day' on 2 April. Tariffs have been introduced, only to be partially suspended. Negotiations have begun, though seemingly without much prospect of success. And new tariffs are already being planned. Of course, all this has not left the markets unscathed.
Much has happened since the US 'Liberation Day' on 2 April. Tariffs have been introduced, only to be partially suspended. Negotiations have begun, though seemingly without much prospect of success. And new tariffs are already being planned. Of course, all this has not left the markets unscathed. The Nasdaq is down around 5% since 2 April. Meanwhile, the yield on 10-year US Treasuries has risen by around 20 basis points over the same period, while the yield on Bunds with the same maturity has fallen by around 20 basis points, Commerzbank's FX analyst Volkmar Baur notes. The market seems to be reacting rationally to the 'Liberation Day'"Most of the exchange rate movements can be explained relatively easily by global developments. The main winners have been the safe havens of the Swiss franc and the Japanese yen, as might be expected in times of heightened uncertainty. The franc has risen significantly more because Japan is more dependent on the US economy.""Next is the euro, which is benefiting from the fact that German government bonds offer an alternative to US Treasuries when investors are looking for safe government bonds and, of course, from the significant fall in oil prices which benefits its external balance. The strength of the euro also explains the positive performance of Eastern European currencies, which are more closely linked to the single currency than to the US dollar.""All in all, the market seems to be differentiating rationally. It would therefore be wrong to speak of panic, at least when looking at the last 14 days as a whole. However, this should not hide the fact that the changes shown below are significant for a period of just 2 weeks. And this US administration is certainly in for more surprises."
13:35 EUR/GBP: Raising the profile – ING
EUR/GBP has held up better than expected, buoyed by euro strength and pressure on sterling from rising gilt yields.
EUR/GBP has held up better than expected, buoyed by euro strength and pressure on sterling from rising gilt yields. While a dovish ECB may cap gains short term, eurozone fiscal stimulus and rate hike expectations in 2026 could drive the pair higher over time, ING’s FX analysts Francesco Pesole and Chris Turner note.EUR/GBP outperforms on Euro strength"EUR/GBP has been a lot stronger than most expected, largely as euro strength won through. Potentially hurting sterling, however, has been higher gilt yields – dragged higher by the Treasury sell-off. Any move back in 10yr gilts to 4.90/5.00% could trigger some more independent GBP weakness.""A dovish ECB could keep EUR/GBP restrained in the near term. However, EUR/GBP should start marching higher again in 2026 when eurozone growth gets a lift from fiscal stimulus and the market could be starting to price an end-2026 ECB rate hike. The new EUR/GBP trading range could be something like 0.8500-0.8750 for the second quarter."
13:08 USD/CAD slides back into multiyear range – Societe Generale
USD/CAD continues to trend lower after February's rejection at 1.48, breaking below the 200-DMA and slipping back into a multiyear range.
USD/CAD continues to trend lower after February's rejection at 1.48, breaking below the 200-DMA and slipping back into a multiyear range. While a short-term bounce emerged near 1.3825, failure to reclaim the 1.4000–1.4025 zone could reinforce the broader downtrend toward 1.3745 and beyond, Societe Generale's FX analysts report. 200-DMA break signals bearish momentum"USD/CAD has experienced a steady decline after facing strong resistance at 1.48 in February. It has given up the 200-DMA and has re-entered previous multiyear range highlighting steady downward momentum." "The pair has recently found interim support near 1.3825. A brief bounce has materialized but inability to overcome the MA at 1.4000/1.4025 could denote risk of persistence in downtrend. Next supports are located at projections of 1.3745/1.3710 and 1.3650."
13:05 EUR/JPY: Surprisingly steady – ING
Despite global equity market moves, EUR/JPY is diverging from its usual correlations, driven by a dollar sell-off and repatriation flows from Europe and Japan.
Despite global equity market moves, EUR/JPY is diverging from its usual correlations, driven by a dollar sell-off and repatriation flows from Europe and Japan. With the yen seen as more undervalued and the BoJ leaning hawkish, the pair carries a downside bias in the near term, ING’s FX analysts Francesco Pesole and Chris Turner note.EUR/JPY breaks from equity correlation"EUR/JPY has continued to defy its normally positive correlation with global equity markets. The story here is the big sell-off in the dollar and the flight to the liquidity of both the euro and the yen. Equally, both the European and the Japanese are the big investor communities potentially repatriating assets from the US. Balance of Payments data may eventually confirm this.""We do, however, think EUR/JPY has a downside bias since USD/JPY can fall further than the EUR/USD can rally. The yen is more undervalued in the medium term according to our models. Equally, the BoJ is still minded to hike rates and more minded to give Washington the stronger currency (weaker $) that it craves."
13:00 USD/JPY under pressure amid tariff jitters – OCBC
USD/JPY continues to trade with a bearish tilt as tariff uncertainty and questions over the dollar’s safe-haven role persist.
USD/JPY continues to trade with a bearish tilt as tariff uncertainty and questions over the dollar’s safe-haven role persist. With FX talks between U.S. and Japanese officials on the horizon and Tokyo signaling it won’t tolerate yen weakness, the downside bias remains intact—though oversold conditions may spark short-term rebounds, OCBC's FX analysts Frances Cheung and Christopher Wong note. USD/JPY under pressure amid tariff jitters"USD/JPY continue to trade with a heavy bias amid tariff uncertainty and growing doubts over USD’s status as a safe haven/ primary reserve currency. This week, there was also confirmation that US Treasury secretary Bessent and Japan’s Minister of Finance Kato will discuss FX matters. Kato also said that a weak JPY won’t be tolerated when the nation needs to hold trade talks with US." "Bias remains to sell rallies for USD/JPY. Pair was last at 142.76 levels. Daily momentum is bearish but decline in RSI moderated. Bias remains skewed to the downside but cautious of USD/JPY near oversold conditions. Rebound risk not ruled out but bias to fade. Resistance at 144.10, 145 levels. Support at 142 (recent low) before 141.60, and 140 levels."
12:47 Germany 30-y Bond Auction: 2.83% vs previous 3.11%
Germany 30-y Bond Auction: 2.83% vs previous 3.11%
12:30 Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $33.03 per troy ounce, up 2.23% from the $32.31 it cost on Tuesday.
Silver prices have increased by 14.32% since the beginning of the year. Unit measure Silver Price Today in USD Troy Ounce 33.03 1 Gram 1.06
The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 100.15 on Wednesday, up from 99.98 on Tuesday. Silver FAQs Why do people invest in Silver? Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets. Which factors influence Silver prices? Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices. How does industrial demand affect Silver prices? Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices. How do Silver prices react to Gold’s moves? Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver. (An automation tool was used in creating this post.)
The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 100.15 on Wednesday, up from 99.98 on Tuesday. Silver FAQs Why do people invest in Silver? Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets. Which factors influence Silver prices? Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices. How does industrial demand affect Silver prices? Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices. How do Silver prices react to Gold’s moves? Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver. (An automation tool was used in creating this post.)
12:30 South Africa Business Confidence Index up to 123.5 in February from previous 120
South Africa Business Confidence Index up to 123.5 in February from previous 120
12:21 EUR/INR today: Indian Rupee cross rates edge higher at the start of the European session
Indian Rupee (INR) crosses trade on the front foot at the beginning of Wednesday, according to FXStreet data.
Indian Rupee (INR) crosses trade on the front foot at the beginning of Wednesday, according to FXStreet data. The Euro (EUR) to the Indian Rupee changes hands at 97.29, with the EUR/INR pair rising from its previous close at 96.69 Meanwhile, the Pound Sterling (GBP) trades at 113.69 against the INR in the early European trading hours, also advancing after the GBP/INR pair settled at 113.42 at the previous close.
Category: Forex, Module: Indian Economy
12:11 EUR/USD bounces back as investors doubt USD’s safe-haven appeal
EUR/USD recovers strongly to near 1.1390 during European trading hours on Wednesday after a slight correction on Tuesday. The major currency pair strengthens as the US Dollar (USD) resumes its downside journey after a short-lived recovery move.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}EUR/USD rebounds sharply to near 1.1400 as the US Dollar falls back due to Trump’s erratic tariff announcements.The ECB is expected to cut interest rates by 25 bps on Thursday.Spain’s Economy Minister Cuerpo is confident about a balanced and fair trade deal between the EU and the US.EUR/USD recovers strongly to near 1.1390 during European trading hours on Wednesday after a slight correction on Tuesday. The major currency pair strengthens as the US Dollar (USD) resumes its downside journey after a short-lived recovery move. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, tumbles to near 99.40.Financial market participants brace for more weakness in the US Dollar and further upside in the EUR/USD pair amid growing doubts over the Greenback’s structural attractiveness due to erratic tariff announcements by United States (US) President Donald Trump.Analysts at ING see the EUR/USD pair advancing to 1.1500 due to “weakening of the US Dollar’s appeal” as a “reserve and safe-haven asset”, while the “Euro’s (EUR) high liquidity” is expected to “absorb much of the rotation away from the USD.”Last week, President Trump declared a 90-day pause in executing reciprocal tariffs, except for China. Trump increased additional duties on Chinese imports to 145% for retaliating against reciprocal levies. Investors doubt that the decision was well-thought-out as US importers would need to increase prices of substitutes of Chinese goods to offset the impact of sustained demand. Such a scenario will be inflationary and slow down economic growth.In Wednesday’s session, investors will focus on the US Retail Sales data for March, which will be published at 12:30 GMT. The Retail Sales data, a key measure of consumer spending, is estimated to have grown at a robust pace of 1.3% during the month compared to the 0.2% increase seen in February. Daily digest market movers: EUR/USD gains as Euro performs strongly ahead of ECB meetingEUR/USD trades firmly near 1.1400 as the Euro demonstrates strength ahead of the European Central Bank’s (ECB) monetary policy decision on Thursday. The ECB is expected to cut its Deposit Facility Rate by 25 basis points (bps) to 2.25%. This would be the sixth straight interest rate cut by the ECB in a row. Traders have become increasingly confident that the ECB will cut interest rates on Thursday due to a significant slowdown in the Eurozone service inflation. The underlying inflation rose by 3.4% year-on-year in March. This was the lowest growth in services inflation since July 2022.As investors are confident about an interest rate cut on Thursday, they will pay close attention to the monetary policy outlook and how well the European Commission (EC) is handling trade deals with the US. Analysts at Standard Chartered Bank expect, “If the ECB cuts this month, then the June meeting could offer an opportunity to hold, which for now is our base case.” They added that the market would have greater clarity on Germany’s fiscal stimulus plans, as well as broader defence spending increases by the June meeting, which could impact their expectations.Meanwhile, Spanish Economy Minister Carlos Cuerpo is confident that the European Union (EU) and the US will close a fair deal soon. Cuerpo gained strong conviction about a smooth trade deal between the EU and Washington after meeting with US Treasury Secretary Scott Bessent on Tuesday. "We’re convinced that, with EU Trade Commissioner Maros Sefcovic leading the European negotiation, we’ll be able to reach an agreement that is balanced, fair and beneficial to both sides,” Cuerpo said, according to Reuters.Technical Analysis: EUR/USD climbs to near 1.1400EUR/USD jumps to near 1.1400 in Wednesday’s European session. The overall outlook of the major currency pair is strongly bullish as all short-to-long Exponential Moving Averages (EMAs) slope higher.The 14-day Relative Strength Index (RSI) holds above 70.00, indicating a strong bullish momentum.Looking up, the psychological resistance of 1.1500 will be the major resistance for the pair. Conversely, the April 11 low of 1.1190 will be the key support for the Euro bulls. Euro FAQs What is the Euro? The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.
EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%). What is the ECB and how does it impact the Euro? The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy.
The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa.
The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. How does inflation data impact the value of the Euro? Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control.
Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money. How does economic data influence the value of the Euro? Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency.
A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall.
Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy. How does the Trade Balance impact the Euro? Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
12:08 China open to talks if Trump shows respect – Bloomberg
Citing a person familiar with the Chinese government’s thinking., Bloomberg reported on Wednesday that China is willing to sit across the table with the US. However, Beijing has some preconditions for the trade negotiations.
Citing a person familiar with the Chinese government’s thinking., Bloomberg reported on Wednesday that China is willing to sit across the table with the US. However, Beijing has some preconditions for the trade negotiations.Key detailsChina wants US President Donald Trump’s administration to show more respect by reining in disparaging remarks by members of his cabinet.China wants a more consistent US position and a willingness to address China’s concerns around American sanctions and Taiwan.Beijing also wants the US to appoint a point person for talks who has the president’s support and can help prepare a deal that Trump and Chinese leader Xi Jinping can sign when they meet.
12:01 EUR/JPY advances to near 162.00 as Euro receives support from real money flows
EUR/JPY rebounds after two consecutive sessions of losses, trading near 162.00 during Wednesday’s European hours. The currency cross strengthens as the Euro (EUR) gains traction against its peers, supported by real money flows as investors hedge Dollar exposure or repatriate US assets.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}EUR/JPY rises as the Euro gains support from real money flows, with investors hedging Dollar exposure or repatriating US assets.The European Central Bank is expected to implement a 25-basis-point rate cut on Thursday.The Japanese Yen benefits from safe-haven demand amid growing concerns over the economic impact of potential new US tariffs.EUR/JPY rebounds after two consecutive sessions of losses, trading near 162.00 during Wednesday’s European hours. The currency cross strengthens as the Euro (EUR) gains traction against its peers, supported by real money flows as investors hedge Dollar exposure or repatriate US assets.ING FX analysts Francesco Pesole and Chris Turner remarked that “We are not major subscribers to the dollar having permanently lost its safe haven status, but acknowledge that lower US growth rates are coming and that Federal Reserve easing in the second half will hit the dollar broadly."However, further gains in EUR/JPY cross may be constrained as expectations of a European Central Bank (ECB) rate cut limit the Euro’s upside. Markets anticipate a 25-basis-point reduction on Thursday, which would lower the Deposit Facility Rate from 2.5% to 2.25%, following two previous cuts this year.Investors will closely monitor ECB President Christine Lagarde’s press conference for insights into the central bank’s policy trajectory and the potential repercussions of US tariff actions on the Eurozone economy.Meanwhile, safe-haven demand boosts the Japanese Yen (JPY) as concerns grow over the economic fallout from potential new US tariffs. In the latest trade policy development, President Donald Trump has ordered an investigation into imposing tariffs on all US critical mineral imports, many of which originate from China.Bank of Japan (BoJ) Governor Kazuo Ueda, in an interview with the Sankei newspaper, acknowledged the growing risks associated with US trade measures, stating that a policy response may be necessary. Ueda noted that the evolving situation is increasingly aligning with the central bank’s anticipated negative scenario, already affecting business and household sentiment. Risk sentiment FAQs What do the terms"risk-on" and "risk-off" mean when referring to sentiment in financial markets? In the world of financial jargon the two widely used terms “risk-on” and “risk off'' refer to the level of risk that investors are willing to stomach during the period referenced. In a “risk-on” market, investors are optimistic about the future and more willing to buy risky assets. In a “risk-off” market investors start to ‘play it safe’ because they are worried about the future, and therefore buy less risky assets that are more certain of bringing a return, even if it is relatively modest. What are the key assets to track to understand risk sentiment dynamics? Typically, during periods of “risk-on”, stock markets will rise, most commodities – except Gold – will also gain in value, since they benefit from a positive growth outlook. The currencies of nations that are heavy commodity exporters strengthen because of increased demand, and Cryptocurrencies rise. In a “risk-off” market, Bonds go up – especially major government Bonds – Gold shines, and safe-haven currencies such as the Japanese Yen, Swiss Franc and US Dollar all benefit. Which currencies strengthen when sentiment is "risk-on"? The Australian Dollar (AUD), the Canadian Dollar (CAD), the New Zealand Dollar (NZD) and minor FX like the Ruble (RUB) and the South African Rand (ZAR), all tend to rise in markets that are “risk-on”. This is because the economies of these currencies are heavily reliant on commodity exports for growth, and commodities tend to rise in price during risk-on periods. This is because investors foresee greater demand for raw materials in the future due to heightened economic activity. Which currencies strengthen when sentiment is "risk-off"? The major currencies that tend to rise during periods of “risk-off” are the US Dollar (USD), the Japanese Yen (JPY) and the Swiss Franc (CHF). The US Dollar, because it is the world’s reserve currency, and because in times of crisis investors buy US government debt, which is seen as safe because the largest economy in the world is unlikely to default. The Yen, from increased demand for Japanese government bonds, because a high proportion are held by domestic investors who are unlikely to dump them – even in a crisis. The Swiss Franc, because strict Swiss banking laws offer investors enhanced capital protection.
12:01 Eurozone Harmonized Index of Consumer Prices (YoY) meets forecasts (2.2%) in March
Eurozone Harmonized Index of Consumer Prices (YoY) meets forecasts (2.2%) in March
12:00 Eurozone Core Harmonized Index of Consumer Prices (YoY) meets forecasts (2.4%) in March
Eurozone Core Harmonized Index of Consumer Prices (YoY) meets forecasts (2.4%) in March
12:00 Eurozone Core Harmonized Index of Consumer Prices (MoM) unchanged at 1% in March
Eurozone Core Harmonized Index of Consumer Prices (MoM) unchanged at 1% in March
12:00 Eurozone Harmonized Index of Consumer Prices (MoM) meets expectations (0.6%) in March
Eurozone Harmonized Index of Consumer Prices (MoM) meets expectations (0.6%) in March
12:00 BoC set to leave interest rate unchanged amid rising inflation and US trade war
All the attention is expected to be on the Bank of Canada (BoC) this Wednesday, as market experts widely anticipate the central bank to maintain its interest rate at 2.75%, halting seven consecutive interest rate cuts.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
.fxs-event-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-event-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-event-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-event-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:12px}.fxs-event-module-section:last-child{border:none;margin-bottom:0}.fxs-event-module-header{color:#1b1c23;font-weight:700;font-size:16px;font-style:normal;line-height:20px;margin:0;padding:4px 0;background-color:#fff;border:none;position:relative;padding-right:32px}.fxs-event-module-header label{cursor:pointer;display:block}.fxs-event-module-header label:after,.fxs-event-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-event-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-event-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]{display:none}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:after{transform:rotate(45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-event-module-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0;margin-top:8px}.fxs-event-module-content.why-matters{max-height:0;overflow:hidden;transition:all .3s ease-in-out}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-content.why-matters{max-height:1000px;margin-top:8px}.fxs-event-module-calendar-title{color:#1b1c23;font-size:17.6px;font-family:Roboto;font-style:normal;font-weight:700;line-height:20.8px;margin:4px 0 0 0}.fxs-event-module-calendar-title-description-wrapper{display:flex;flex-direction:column;gap:12px;border-bottom:1px solid #ececf1;padding-bottom:16px;margin-bottom:16px}.fxs-event-module-inner-calendar{padding:16px}.fxs-event-module-inner-calendar .fxs-event-module-section{padding:0}.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:12.8px;line-height:17px}.fxs-event-module-read-more{display:flex;align-items:center;align-content:center;gap:4px;color:#e4871b;font-size:12.8px;font-family:Roboto;font-style:normal;font-weight:700;line-height:17px;text-decoration:none}.fxs-event-module-read-more svg{width:16px;height:16px}.fxs-event-module-read-more:hover span{text-decoration:underline}.fxs-event-module-release{margin:0;display:flex;flex-direction:column;gap:2px}.fxs-event-module-release>p{font-size:12.8px;font-family:Roboto;font-style:normal;line-height:17px;margin:0}.fxs-event-module-release>p>strong{color:#8c8d91;font-weight:700}.fxs-event-module-release>p>span{color:#8c8d91;font-weight:400}.fxs-event-module-release>p>a{color:#e4871b;font-weight:700;text-decoration:none}.fxs-event-module-release>p>a:hover>span{text-decoration:underline}.fxs-event-module-inner-calendar .fxs-event-module-container{margin:16px 0 0 0;border-top:1px solid #ececf1;padding:12px 0 0 0}@media (min-width:680px){.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:14.72px;line-height:20px}.fxs-event-module-release p{font-size:14.72px;line-height:20px}.fxs-event-module-read-more{font-size:14.72px;line-height:20px}.fxs-event-module-calendar-title{font-size:22.4px;line-height:25.6px}.fxs-event-module-title{font-size:19.2px;line-height:27.2px}.fxs-event-module-header{font-size:19.2px;line-height:25.92px}.fxs-event-module-content{font-size:16px;line-height:21.6px}}Bank of Canada (BoC) is expected to keep its policy rate unchanged.The Canadian Dollar has been persistently appreciating vs. the US Dollar.Headline inflation in Canada returned to above the BoC’s target.Governor Macklem’s press conference is seen focusing on US tariffs.All the attention is expected to be on the Bank of Canada (BoC) this Wednesday, as market experts widely anticipate the central bank to maintain its interest rate at 2.75%, halting seven consecutive interest rate cuts.At the same time, the Canadian Dollar (CAD) has been gathering momentum in the last couple of weeks, appreciating the 1.3840 region vs. the US Dollar (USD) from monthly lows around the 1.4400 zone.Since United States (US) President Trump returned to the Oval office in January, it has been all about his trade policies, in particular those regarding tariffs. This specific subject is predicted to dominate the BoC’s event, including comments from Governor Tiff Macklem as well as questions from the media.The Bank of Canada is strategising a pause in its easing cycle for April as mounting global uncertainties—largely driven by the White House's erratic approach to tariffs—force a rethink of trade policies. This backdrop of unpredictability suggests that a cautious tone will likely define both the BoC’s statement and Governor Macklem's follow-up press conference this week.At his most recent news conference on March 20, Governor Macklem explained that the ambiguity surrounding the impact of US tariffs had compelled the bank to adjust its monetary policy, making it less forward-looking than usual. He stressed that despite these challenges, there was no doubt about the bank's unwavering commitment to maintaining low inflation.In addition, from the central bank’s Business Outlook Survey published on April 7, Canadian firms and consumers are now bracing for a much higher risk of recession in the coming year, as US President Trump's tariffs and potential retaliatory measures fuel widespread uncertainty. According to the survey, many companies have paused their investment and hiring plans, with employment expectations now lower than at any point during the pandemic.The BoC noted that businesses no longer anticipate a slowdown in rising input prices—a notable shift from recent trends—suggesting that inflationary pressures are likely to intensify. In fact, inflation in Canada surged to an eight-month high of 2.6% in February. The survey revealed that 65% of firms expect their costs to climb if tariffs become more widespread, leading 40% of respondents to plan an increase in their selling prices.Previewing the BoC’s interest rate decision, analysts at TD Securities noted: "We look for the BoC to pause at 2.75% in April as it waits for more clarity around tariff impacts before easing further. Governor Macklem hinted the Bank would be less forward-looking in his March 20th speech, and with the economy showing more strength over January/February, that should be enough for a move back to the sidelines. Look for a cautious tone to the policy statement with more emphasis on tariff risks as the Bank reaffirms its commitment to price stability.” When will the BoC release its monetary policy decision and how could it affect USD/CAD?The Bank of Canada is scheduled to reveal its policy decision on Wednesday at 13:45 GMT, followed by Governor Tiff Macklem’s press conference at 14:30 GMT.Although major surprises are not anticipated, market watchers believe the central bank's message will continue to focus on the implications of US tariffs for the Canadian economy—a sentiment that could also influence currency movements.Senior Analyst Pablo Piovano from FXStreet highlighted that “USD/CAD has recently broken below its key 200-day Simple Moving Average (SMA) at 1.3995, which could open the taps for extra weakness in the short-term horizon”.“If the Canadian Dollar extends its recovery, USD/CAD is likely to revisit its 2025 floor at 1.3838 (April 11), closely followed by the November 2024 trough at 1.3817, and ahead of the September 2024 low at 1.3418 (September 25)”, Piovano added.Piovano notes that “on the upside, the pair should encounter initial resistance at its April peak at 1.4414 (April 1), prior to the March top at 1.4542 (March 4). The breakout of the latter could put a potential test of the 2025 high of 1.4792 (February 3) back on the radar”.“Currently, spot is trading in oversold conditions as per the Relative Strength Index (RSI), thus, a technical bounce should not be ruled out. However, the ongoing bearish trend could gather extra strength as well, as suggested by the Average Directional Index (ADX) near the 25 level”, Piovano concludes. Bank of Canada FAQs What is the Bank of Canada and how does it influence the Canadian Dollar? The Bank of Canada (BoC), based in Ottawa, is the institution that sets interest rates and manages monetary policy for Canada. It does so at eight scheduled meetings a year and ad hoc emergency meetings that are held as required. The BoC primary mandate is to maintain price stability, which means keeping inflation at between 1-3%. Its main tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will usually result in a stronger Canadian Dollar (CAD) and vice versa. Other tools used include quantitative easing and tightening. What is Quantitative Easing (QE) and how does it affect the Canadian Dollar? In extreme situations, the Bank of Canada can enact a policy tool called Quantitative Easing. QE is the process by which the BoC prints Canadian Dollars for the purpose of buying assets – usually government or corporate bonds – from financial institutions. QE usually results in a weaker CAD. QE is a last resort when simply lowering interest rates is unlikely to achieve the objective of price stability. The Bank of Canada used the measure during the Great Financial Crisis of 2009-11 when credit froze after banks lost faith in each other’s ability to repay debts. What is Quantitative tightening (QT) and how does it affect the Canadian Dollar? Quantitative tightening (QT) is the reverse of QE. It is undertaken after QE when an economic recovery is underway and inflation starts rising. Whilst in QE the Bank of Canada purchases government and corporate bonds from financial institutions to provide them with liquidity, in QT the BoC stops buying more assets, and stops reinvesting the principal maturing on the bonds it already holds. It is usually positive (or bullish) for the Canadian Dollar. Economic Indicator BoC Interest Rate Decision The Bank of Canada (BoC) announces its interest rate decision at the end of its eight scheduled meetings per year. If the BoC believes inflation will be above target (hawkish), it will raise interest rates in order to bring it down. This is bullish for the CAD since higher interest rates attract greater inflows of foreign capital. Likewise, if the BoC sees inflation falling below target (dovish) it will lower interest rates in order to give the Canadian economy a boost in the hope inflation will rise back up. This is bearish for CAD since it detracts from foreign capital flowing into the country. Read more. Next release: Wed Apr 16, 2025 13:45 Frequency: Irregular Consensus: 2.75% Previous: 2.75% Source: Bank of Canada
11:57 GBP/USD: Sterling enjoys its reserve currency status – ING
GBP/USD continues to benefit from broader dollar weakness and reserve diversification trends, with FX managers potentially trimming dollar holdings in favor of currencies like sterling. The pair also closely follows EUR/USD moves, as Europe embraces fiscal stimulus.
GBP/USD continues to benefit from broader dollar weakness and reserve diversification trends, with FX managers potentially trimming dollar holdings in favor of currencies like sterling. The pair also closely follows EUR/USD moves, as Europe embraces fiscal stimulus. Meanwhile, UK domestic data and the Bank of England’s expected rate cuts remain pivotal, while geopolitics adds a twist as the UK edges closer to potential EU customs cooperation, ING’s FX analysts Francesco Pesole and Chris Turner note.GBP/USD tracks EUR strength amid reserve shifts"GBP/USD has been bid up as the dollar trend dominates. We do think FX reserve managers will be cutting the dollar shares in their FX reserves this year. As one of the big five reserve currencies, sterling does benefit from the dollar diversification trade. GBP/USD is also very much driven by EUR/USD trends – where fiscal stimulus will be helping in Europe too.""Domestically, we’re waiting on the UK data to show whether unemployment is rising or inflation is falling. We think the market is right to forecast three more Bank of England cuts this year, starting in May.""A wild card for GBP is the UK government getting closer to Europe as strategic alliances get withdrawn. The focus here is the customs union and whether momentum can build towards a deal."
11:51 DXY hovers near lows as trade uncertainty weighs – OCBC
Dollar Index (DXY) inched modestly higher overnight but continues to trade near recent lows. Trump launched a probe into the need for tariffs on critical minerals, the latest action in an expanding trade war that has targeted key sectors of the global economy.
Dollar Index (DXY) inched modestly higher overnight but continues to trade near recent lows. Trump launched a probe into the need for tariffs on critical minerals, the latest action in an expanding trade war that has targeted key sectors of the global economy. DXY was last at 99.52, OCBC's FX analysts Frances Cheung and Christopher Wong note. Trump’s tariff probe on minerals fuels dollar doubts"Tariff and Trump policy uncertainty, alongside ongoing protectionist measures, fading US exceptionalism and ballooning US debt are some catalysts that should keep the 'sell USD on rally' trade intact as USD’s status as a reserve currency and safe haven continues to come under scrutiny." "While tariff concerns remain, it does appear to suggest that Trump and his team may be ready to cut a deal with some nations. In the event a watered-down deal is reached between US and several nations, including India, Japan and South Korea (ex China), there may be a tactical chance safe haven proxy FX may unwind. FX with moves that have moved outside of 2 standard deviations such as USD/CHF and USD/JPY may be exposed to rebound risk." "Daily momentum is bearish but RSI shows signs of turning higher from oversold conditions. Resistance at 100.5, 101.20 levels. Support at 99.5, 99.1 levels. Week ahead brings retail sales and IP today, followed by housing data on Thursday."
11:45 USD/JPY: Leading the charge lower in the dollar – ING
The Japanese Yen’s (JPY) solid current account and foreign asset position continue to pressure USD/JPY lower, even as the rare decoupling from US Treasury yields unfolds. While this divergence may prove short-lived, markets could settle into a lower USD/JPY as Fed cuts materialize later this year.
The Japanese Yen’s (JPY) solid current account and foreign asset position continue to pressure USD/JPY lower, even as the rare decoupling from US Treasury yields unfolds. While this divergence may prove short-lived, markets could settle into a lower USD/JPY as Fed cuts materialize later this year. A July BoJ rate hike remains on the table, though sharp yen gains could force a delay, ING’s FX analysts Francesco Pesole and Chris Turner note.USD/JPY slides as Yen finds defensive support"The defensive cover for the yen (its large current account and net foreign asset surplus) has seen USD/JPY lead the adjustment lower in the dollar. The negative correlation between US Treasury yields and the dollar is very rare, but it can happen." "We doubt this correlation will be with us for a long time, but we suspect financial markets eventually shift to a lower USD/JPY and softer Treasury yields in the second half once the Fed starts cutting.""A left-field risk is that Japan does somehow agree to deliver a weaker USD/JPY as part of US trade negotiations. We see scope for a Bank of Japan rate hike in July, though heavy losses in USD/JPY could be one of the risks that delays the hike this year."
11:41 EUR/USD consolidates near 1.13 – OCBC
The Euro (EUR) is consolidating as markets digest tariff concerns and await the ECB meeting, where a 25bp rate cut is expected. While bullish momentum continues, dovish ECB rhetoric or pushback on recent euro strength could limit further gains.
The Euro (EUR) is consolidating as markets digest tariff concerns and await the ECB meeting, where a 25bp rate cut is expected. While bullish momentum continues, dovish ECB rhetoric or pushback on recent euro strength could limit further gains. Key resistance stands at 1.1460–1.15, with support at 1.1280 and 1.1160, OCBC's FX analysts Frances Cheung and Christopher Wong note. ECB cut expected, rhetoric in focus"EUR consolidated as markets re-assess tariff concerns and await ECB meeting (Thursday). On ECB, our house is looking for a 25bp cut. Trade tensions pose growth concerns while the drop in energy prices and much stronger EUR are likely to have added to disinflationary pressures." "More importantly, ECB’s rhetoric is key – if policymakers will be guiding for further cuts or make mention that the EUR’s recent rally is excessive, etc. Dovish comments may partially negate EUR’s ascend." "Daily momentum is bullish while RSI rose into near overbought conditions. Consolidation likely. Resistance at 1.1460/70 levels before 1.15. Support at 1.1280, 1.1160 levels."
11:38 Real money flows fuel EUR/USD rally – ING
The EUR/USD rally appears driven by real money flows as investors hedge dollar exposure or repatriate US assets.
The EUR/USD rally appears driven by real money flows as investors hedge dollar exposure or repatriate US assets. While upcoming Fed easing and slower US growth could pressure the dollar further, the ECB’s rate cut to 1.75% may help limit euro gains, keeping the pair volatile within a 1.12–1.16 range, ING’s FX analysts Francesco Pesole and Chris Turner note.Fed easing, lower growth weigh on dollar outlook "Real money flows have been the big driver of the EUR/USD rally as investors either raise dollar hedge ratios or repatriate US assets completely. We are not major subscribers to the dollar having permanently lost its safe haven status, but acknowledge that lower US growth rates are coming and that Federal Reserve easing in the second half will hit the dollar broadly.""We’re thinking EUR/USD could trade in a volatile 1.12-1.16 range this quarter, where renewed bouts of US equity selling can see new EUR/USD highs hit. Expect volatility to remain high. However, the euro is now getting very strong for the European Central Bank, and the deposit rate being cut to 1.75% should restrain EUR/USD a little".
11:36 United Kingdom DCLG House Price Index (YoY) above expectations (5.1%) in February: Actual (5.4%)
United Kingdom DCLG House Price Index (YoY) above expectations (5.1%) in February: Actual (5.4%)
11:35 Palladium price today: Rare metals mixed at the start of the European session
Platinum Group Metals (PGMs) trade mixed at the beginning of Wednesday, according to FXStreet data.
Platinum Group Metals (PGMs) trade mixed at the beginning of Wednesday, according to FXStreet data. Palladium (XPD) changes hands at $976.90 a troy ounce, with the XPD/USD pair advancing from its previous close at $976.80. In the meantime, Platinum (XPT) trades at $960.85 against the United States Dollar (USD) early in the European session, shedding ground after the XPT/USD pair settled at $962.55 at the previous close.
11:30 NZD/USD rises above 0.5900 as US Dollar struggles ahead of US Retail Sales data
NZD/USD continues its winning streak for the sixth successive day, trading around 0.5910 during the European hours on Wednesday. The pair appreciates as the New Zealand Dollar (NZD) gains ground following the release of key economic data from China.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}NZD/USD strengthens after the release of key economic data from China.China's Q1 GDP expanded at an annual rate of 5.4%, exceeding market forecasts of 5.1%.The US Dollar struggles as escalating US-China trade tensions erode investor confidence in American assets.NZD/USD continues its winning streak for the sixth successive day, trading around 0.5910 during the European hours on Wednesday. The pair appreciates as the New Zealand Dollar (NZD) gains ground following the release of key economic data from China.China’s Gross Domestic Product (GDP) grew at an annual rate of 5.4% in the first quarter of 2025, matching the pace seen in Q4 2024 and surpassing market expectations of 5.1%. On a quarterly basis, GDP rose by 1.2% in Q1, following a 1.6% increase in the previous quarter, falling short of the forecasted 1.4% gain.Meanwhile, China’s Retail Sales surged 5.9% year-over-year, beating expectations of 4.2% and up from February’s 4%. Industrial Production also outperformed, rising 7.7% compared to the 5.6% forecast and February’s 5.9% print.The NZD/USD pair appreciates as the US Dollar (USD) faces headwinds due to eroding investor confidence in US assets amid escalating US-China trade tensions. The Wall Street Journal, citing informed sources, suggested that the Trump administration aims to leverage tariff negotiations to encourage US trading partners to reduce their engagements with China.Late Tuesday, Bloomberg reported that US President Donald Trump initiated an investigation into potential tariffs on critical minerals, marking another move in the intensifying trade war that continues to affect key global economic sectors.US Retail Sales data for March is set to be released later in the day, offering potential insights into how tariff-related uncertainties are impacting consumer spending. Additionally, Fed Chairman Jerome Powell is scheduled to deliver a speech during the late American session. Investors will likely turn their attention to the first-quarter CPI data, set for release on Thursday, as they seek insights into the Reserve Bank of New Zealand's (RBNZ) monetary policy trajectory. New Zealand Dollar FAQs What key factors drive the New Zealand Dollar? The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency. Another factor moving NZD is dairy prices as the dairy industry is New Zealand’s main export. High dairy prices boost export income, contributing positively to the economy and thus to the NZD. How do decisions of the RBNZ impact the New Zealand Dollar? The Reserve Bank of New Zealand (RBNZ) aims to achieve and maintain an inflation rate between 1% and 3% over the medium term, with a focus to keep it near the 2% mid-point. To this end, the bank sets an appropriate level of interest rates. When inflation is too high, the RBNZ will increase interest rates to cool the economy, but the move will also make bond yields higher, increasing investors’ appeal to invest in the country and thus boosting NZD. On the contrary, lower interest rates tend to weaken NZD. The so-called rate differential, or how rates in New Zealand are or are expected to be compared to the ones set by the US Federal Reserve, can also play a key role in moving the NZD/USD pair. How does economic data influence the value of the New Zealand Dollar? Macroeconomic data releases in New Zealand are key to assess the state of the economy and can impact the New Zealand Dollar’s (NZD) valuation. A strong economy, based on high economic growth, low unemployment and high confidence is good for NZD. High economic growth attracts foreign investment and may encourage the Reserve Bank of New Zealand to increase interest rates, if this economic strength comes together with elevated inflation. Conversely, if economic data is weak, NZD is likely to depreciate. How does broader risk sentiment impact the New Zealand Dollar? The New Zealand Dollar (NZD) tends to strengthen during risk-on periods, or when investors perceive that broader market risks are low and are optimistic about growth. This tends to lead to a more favorable outlook for commodities and so-called ‘commodity currencies’ such as the Kiwi. Conversely, NZD tends to weaken at times of market turbulence or economic uncertainty as investors tend to sell higher-risk assets and flee to the more-stable safe havens.
11:05 US Dollar Index falls below 99.50 due to eroding investor confidence, Retails Sales eyed
The US Dollar Index (DXY), which measures the US Dollar (USD) against a basket of six major currencies, declined after gaining in the previous session, trading near 99.50 during Wednesday's European hours.
.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a}The US Dollar Index struggles as escalating US-China trade tensions erode investor confidence in American assets.President Trump has launched an investigation into tariffs on critical minerals, further intensifying the trade conflict.Market expectations, reflected in the CME FedWatch tool, indicate approximately 85 basis points of Federal Reserve rate cuts by year-end.The US Dollar Index (DXY), which measures the US Dollar (USD) against a basket of six major currencies, declined after gaining in the previous session, trading near 99.50 during Wednesday's European hours. The Greenback faces headwinds due to eroding investor confidence in US assets amid escalating US-China trade tensions.Late Tuesday, Bloomberg reported that US President Donald Trump initiated an investigation into potential tariffs on critical minerals, marking another move in the intensifying trade war that continues to affect key global economic sectors.Simultaneously, the Wall Street Journal, citing informed sources, suggested that the Trump administration aims to leverage tariff negotiations to encourage US trading partners to reduce their engagements with China.A consumer sentiment survey by the Federal Reserve Bank of New York highlighted a sharp rise in household expectations of higher inflation, weaker job prospects, and deteriorating credit conditions in the coming months.According to the CME FedWatch tool, markets are pricing in approximately 85 basis points of Federal Reserve (Fed) rate cuts by the end of the year while expecting the Fed to maintain rates during its next meeting.US Retail Sales data for March is set to be released later in the day, offering potential insights into how tariff-related uncertainties are impacting consumer spending. Additionally, Fed Chairman Jerome Powell is scheduled to deliver a speech during the late American session. US Dollar PRICE Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the Swiss Franc. USD EUR GBP JPY CAD AUD NZD CHF USD -0.85% -0.39% -0.74% -0.33% -0.31% -0.30% -1.12% EUR 0.85% 0.50% 0.13% 0.52% 0.79% 0.58% -0.27% GBP 0.39% -0.50% -0.38% 0.03% 0.29% 0.08% -0.72% JPY 0.74% -0.13% 0.38% 0.40% 0.74% 0.49% -0.43% CAD 0.33% -0.52% -0.03% -0.40% 0.30% 0.07% -0.73% AUD 0.31% -0.79% -0.29% -0.74% -0.30% -0.24% -1.01% NZD 0.30% -0.58% -0.08% -0.49% -0.07% 0.24% -0.80% CHF 1.12% 0.27% 0.72% 0.43% 0.73% 1.01% 0.80% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
11:01 Italy Consumer Price Index (YoY) below forecasts (2%) in March: Actual (1.9%)
Italy Consumer Price Index (YoY) below forecasts (2%) in March: Actual (1.9%)
11:00 Italy Consumer Price Index (MoM) came in at 0.3%, below expectations (0.4%) in March
Italy Consumer Price Index (MoM) came in at 0.3%, below expectations (0.4%) in March
11:00 Eurozone Current Account n.s.a up to €33.1B in February from previous €13.2B
Eurozone Current Account n.s.a up to €33.1B in February from previous €13.2B
11:00 Italy Consumer Price Index (EU Norm) (YoY) in line with forecasts (2.1%) in March
Italy Consumer Price Index (EU Norm) (YoY) in line with forecasts (2.1%) in March
11:00 Italy Consumer Price Index (EU Norm) (MoM) meets expectations (1.6%) in March
Italy Consumer Price Index (EU Norm) (MoM) meets expectations (1.6%) in March
11:00 Eurozone Current Account s.a below forecasts (€37.3B) in February: Actual (€34.3B)
Eurozone Current Account s.a below forecasts (€37.3B) in February: Actual (€34.3B)
10:46 Crude Oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Wednesday, early in the European session. WTI trades at $60.29 per barrel, down from Tuesday’s close at $61.01. Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $63.66 after its previous daily close at $64.36.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
West Texas Intermediate (WTI) Oil price falls on Wednesday, early in the European session. WTI trades at $60.29 per barrel, down from Tuesday’s close at $61.01. Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $63.66 after its previous daily close at $64.36. WTI Oil FAQs What is WTI Oil? WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. What factors drive the price of WTI Oil? Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa. How does inventory data impact the price of WTI Oil The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency. How does OPEC influence the price of WTI Oil? OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
10:29 Forex Today: US Dollar selloff resumes after short reprieve, eyes on BoC and Powell
Here is what you need to know on Wednesday, April 16:
.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a}
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
Here is what you need to know on Wednesday, April 16:Following a meager recovery on Tuesday, the US Dollar (USD) comes under renewed selling pressure on Wednesday as markets assess the latest news on trade wars. March Retail Sales and Industrial Production data will be featured in the US economic calendar. Additionally, the Bank of Canada (BoC) will announce monetary policy decisions. Finally, Federal Reserve Chairman Jerome Powell will be delivering a speech in the late American session. US Dollar PRICE Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the Swiss Franc. USD EUR GBP JPY CAD AUD NZD CHF USD -0.90% -0.36% -0.70% -0.25% -0.31% -0.34% -1.22% EUR 0.90% 0.57% 0.21% 0.64% 0.83% 0.59% -0.32% GBP 0.36% -0.57% -0.38% 0.09% 0.27% 0.02% -0.84% JPY 0.70% -0.21% 0.38% 0.46% 0.71% 0.43% -0.55% CAD 0.25% -0.64% -0.09% -0.46% 0.22% -0.05% -0.91% AUD 0.31% -0.83% -0.27% -0.71% -0.22% -0.27% -1.10% NZD 0.34% -0.59% -0.02% -0.43% 0.05% 0.27% -0.85% CHF 1.22% 0.32% 0.84% 0.55% 0.91% 1.10% 0.85% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Bloomberg reported late Tuesday that US President Donald Trump launched a probe into the need for tariffs on critical minerals, the latest move in an escalating trade war that has targeted key sectors of the global economy. In the meantime, citing individuals familiar with the discussions, the Wall Street Journal said the Trump administration plans to use ongoing tariff negotiations to pressure US trading partners to limit their dealings with China. Markets seem to have adopted a cautious stance following these developments. At the time of press, US stock index futures were down between 0.6% and 2%, while the USD Index was losing more than 0.5% on the day at 99.55.The UK's Office for National Statistics reported early Wednesday that annual inflation, as measured by the change in the Consumer Price Index (CPI), edged lower to 2.6% in March from 2.8% in February. In the same period, the core CPI was up 3.4%, as expected. GBP/USD largely ignored these numbers and was last seen trading at its highest level since October above 1.3250.USD/CAD gained traction and rose about 0.6% on Tuesday after Statistics Canada reported that the CPI rose by 2.3% on a yearly basis in March, compared to the market expectation of 2.6%. Later in the day, the BoC is expected to hold its policy rate unchanged at 2.75%. Ahead of the BoC event, USD/CAD trades in negative territory slightly below 1.3950.After falling more than 0.5% on Tuesday, EUR/USD reversed its direction during the Asian trading hours on Wednesday and rose above 1.1350. Eurostat will release final revisions to March inflation data and the European Central Bank will announce policy decisions on Thursday.Bank of Japan (BoJ) Governor Kazuo Ueda said early Wednesday that the central bank may need to take policy action if US tariffs hurt the economy. USD/JPY declines sharply midweek and trades near the multi-month low it touched at 142.05 in the previous week.The data from China showed earlier in the day that the Gross Domestic Product expanded at an annual rate of 5.4% in the first quarter. This reading matched the expansion rate of the previous quarter and came in above the market expectation of 5.1%. After closing the fifth consecutive day in the green, AUD/USD stays in a consolidation phase at around 0.6350 on Wednesday. In the Asian session on Thursday, employment data from Australia will be watched closely by market participants.Following the sideways action seen on Monday and Tuesday, Gold benefited from the risk-averse market atmosphere in the Asian session on Wednesday. At the time of press, XAU/USD was trading at a new all-time high slightly below $3,300. US-China Trade War FAQs What does “trade war” mean? Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living. What is the US-China trade war? An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China’s economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies. Trade war 2.0 The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60% tariffs on China once he returned to office, which he did on January 20, 2025. With Trump back, the US-China trade war is meant to resume where it was left, with tit-for-tat policies affecting the global economic landscape amid disruptions in global supply chains, resulting in a reduction in spending, particularly investment, and directly feeding into the Consumer Price Index inflation.
10:28 China’s Foreign Ministry urges US to stop threats and blackmail
On Wednesday, China’s Foreign Ministry urged the US to stop threats and blackmail.
.fxs-related-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-related-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-related-module-related-link a{font-size:19.2px;line-height:25.92px}.fxs-related-module-related-link a{text-decoration:none;color:#1b1c23;font-weight:700;font-size:16px;font-style:normal;line-height:20px}.fxs-related-module-related-link a:hover,.fxs-related-module-related-link:hover,.fxs-related-module-related-link:hover a{color:#e4871b}.fxs-related-module-related-link a:hover{text-decoration:none}@media (min-width:680px){.fxs-related-module-title{font-size:19.2px;line-height:27.2px}.fxs-related-module-related-link a{font-size:19.2px;line-height:25.92px}}
On Wednesday, China’s Foreign Ministry urged the US to stop threats and blackmail.“If US wants to solve issues through dialogue, it should stop exerting maximum pressure,” the Ministry added.Market reactionAt the time of writing, AUD/USD is off the highs, still up 0.23% on the day, trading neat 0.6350. Related news US plans to use tariff negotiations to isolate China - WSJ Gold Price Forecast: XAU/USD overbought again as focus shifts to US Retail Sales, Powell speech Australian Dollar receives support from improved global risk mood, US Retail Sales eyed
10:25 WTI drops to near $60.00 as US-China trade dispute continues to weigh on energy demand
West Texas Intermediate (WTI) Oil price continues its decline for the third consecutive session, losing over 1.00% and trading near $60.30 per barrel during early European hours on Wednesday.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}WTI declined by over 1% as the prolonged US-China trade conflict continues to weigh on energy demand.The IEA has adjusted its 2025 global Oil demand forecast, projecting the slowest growth rate in five years.Heightened trade uncertainty has led several banks, including UBS, BNP Paribas, and HSBC, to lower their crude oil price forecasts.West Texas Intermediate (WTI) Oil price continues its decline for the third consecutive session, losing over 1.00% and trading near $60.30 per barrel during early European hours on Wednesday. The drop in crude Oil prices reflects growing uncertainty caused by shifts in US tariff policies, as traders assess the economic ramifications of the ongoing US-China trade conflict and its potential impact on energy demand.On Tuesday, the International Energy Agency (IEA) revised its 2025 global Oil demand forecast, predicting the slowest growth rate in five years. The IEA also noted that US production growth is expected to slow due to tariffs introduced by US President Donald Trump and the retaliatory actions of trade partners. Additionally, the agency warned that the global oversupply of Oil could persist until 2026.The combination of escalating tariffs and increased output from OPEC+—a coalition of the Organization of the Petroleum Exporting Countries and its allies—has already driven Oil prices down approximately 13% this month. Trade-related uncertainty has prompted several banks, including UBS, BNP Paribas, and HSBC, to revise their crude Oil price projections downward.Further complicating the outlook, OPEC+ continues to raise production levels, while progress in US-Iran nuclear discussions could lead to increased Iranian oil exports. Meanwhile, President Trump’s investigation into critical mineral tariffs may strain relations with key suppliers such as China, exacerbating concerns about economic growth and its effects on Oil demand.Meanwhile, the American Petroleum Institute (API) reported an unexpected rise of 2.4 million barrels in last week’s US crude Oil stock, contrasting with the anticipated decrease of 1.68 million barrels and the previous week's decline of 1.057 million barrels. WTI Oil FAQs What is WTI Oil? WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. What factors drive the price of WTI Oil? Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa. How does inventory data impact the price of WTI Oil The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency. How does OPEC influence the price of WTI Oil? OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
10:17 Pound Sterling faces selling pressure as UK inflation cools down
The Pound Sterling (GBP) faces selling pressure against its major peers on Wednesday, except the US Dollar (USD), after the release of the softer-than-expected United Kingdom (UK) Consumer Price Index (CPI) data for March.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The Pound Sterling comes under pressure against its major peers after the release of a soft UK CPI in March.Soft UK inflation and grim employment outlook pave the way for the BoE to cut interest rates in May.Investors seek fresh development on deals between the US and its trading partners.The Pound Sterling (GBP) faces selling pressure against its major peers on Wednesday, except the US Dollar (USD), after the release of the softer-than-expected United Kingdom (UK) Consumer Price Index (CPI) data for March. The Office for National Statistics (ONS) reported that the headline CPI grew at a moderate pace of 2.6% year-on-year compared to estimates of 2.7% and the February reading of 2.8%. In the same period, the core CPI – which excludes volatile items such as food, energy, alcohol, and tobacco – rose by 3.4%, as expected, slower than the former reading of 3.5%. Month-on-month headline inflation grew by 0.3%, softer than estimates and the prior release of 0.4%.Inflation in the services sector, which is closely tracked by Bank of England (BoE) officials, decelerated to 4.7% on year from the prior release of 5%. Cooling UK inflationary pressures are expected to boost market expectations that the BoE will cut interest rates in the May monetary policy meeting. Additionally, the grim UK labor market outlook, with an increase in employers’ contributions to social security schemes becoming effective this month, would also force BoE policymakers to back monetary policy easing. In the Autumn Budget, UK Chancellor of the Exchequer Rache Reeves raised employers’ contribution to National Insurance (NI) from 13.8% to 15%.Daily digest market movers: Pound Sterling outperforms US DollarThe Pound Sterling advances to near 1.3290 against the US Dollar during European trading hours on Wednesday. The GBP/USD pair continues to perform strongly as the US Dollar (USD) underperforms across the board, with investors becoming increasingly confident that the economic policies of United States (US) President Donald Trump would lead the economy to a recession. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, tumbles to near 99.50 after a short-lived recovery move to 100.00 on Tuesday.In spite of the fact that US President Trump has declared a 90-day pause on the execution of reciprocal tariffs for all of its trading partners, except China, which he announced on so-called “Liberation Day”, investors believe that trade war seldom with Asian giant is enough to bring shockwaves to the economy.The US economy is unable to offset the demand for Chinese imports immediately, given the insufficient manufacturing facilities and the absence of low-cost competitive advantage. Such a scenario will force US importers to raise prices of substitutes of Chinese goods, which will significantly dent households' purchasing power. Theoretically, lower purchasing power leads to a decline in the overall demand that dampens the economic growth of an economy in a big way, whose two-thirds of the Gross Domestic Product (GDP) growth relies on consumer spending.Meanwhile, investors look for announcements from the White House over securing deals with his trading partners. On Tuesday, US Press Secretary Karoline Leavitt said that the Trump administration is discussing trade deals with “more than 15 nations” and that some agreements could be announced "very soon".On a trade deal with the UK, US Vice President JD Vance was confident of having a trade agreement with Britain while speaking with UnHerd on Tuesday. Vance said that there is a "good chance" that both nations will secure a trade deal because of the President’s affinity for Britain.Technical Analysis: Pound Sterling extends winning spree against US DollarThe Pound Sterling extends its winning streak for the seventh trading day and jumps to near 1.3300 against the US Dollar on Wednesday. The near-term outlook of the pair is upbeat as all short-to-long Exponential Moving Averages (EMAs) are sloping higher. The 14-day Relative Strength Index (RSI) has shown a V-shape recovery from 40.00 to 68.00, suggesting a strong bullish momentum.Looking down, the psychological support of 1.3000 will act as a key support zone for the pair. On the upside, the three-year high of 1.3430 will act as a key resistance zone. Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data.
Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money.
When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP.
A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
10:11 GBP/JPY Price Forecast: Bearish outlook remains intact below 189.00
The GBP/JPY cross attracts some sellers to around 188.80 during the early European session on Wednesday. The Pound Sterling (GBP) weakens against the Japanese Yen (JPY) after the UK Consumer Price Index (CPI) inflation report.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}GBP/JPY softens to near 188.80 in Wednesday’s early European session, down 0.31% on the day. The cross keeps the negative outlook below the 100-day EMA with a bearish RSI indicator. The initial support emerges at 186.55; the crucial upside barrier is located at 190.00. The GBP/JPY cross attracts some sellers to around 188.80 during the early European session on Wednesday. The Pound Sterling (GBP) weakens against the Japanese Yen (JPY) after the UK Consumer Price Index (CPI) inflation report.The UK Consumer Price Index (CPI) rose 2.6% YoY to March, an easing from the 2.8% increase in February, according to the Office for National Statistics on Wednesday. It was the weakest inflation since December 2024 and below the market consensus of 2.7%. Meanwhile, the Core CPI, which excludes the volatile prices of food and energy, rose 3.4% YoY in March versus 3.5% prior, in line with the market consensus of 3.4%. According to the daily chart, the bearish outlook of GBP/JPY remains in play as the cross remains capped below the key 100-day Exponential Moving Average (EMA). Furthermore, the downward momentum is supported by the 14-day Relative Strength Index (RSI), which is located below the midline near 44, suggesting that the path of least resistance is to the downside. The first downside target for the cross emerges at 186.55, the low of April 8. Extended losses could see a drop to 185.65, the lower limit of the Bollinger Band. A decisive break below the mentioned level could pave the way to 184.37, the low of September 13, 2024. On the bright side, the immediate resistance level for the cross is located at the 190.00 psychological mark. Sustained trading above this level could attract some buyers to 192.05, the 100-day EMA. Further north, the next hurdle is seen at 194.19, the high of April 3. GBP/JPY daily chart Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data.
Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money.
When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP.
A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
10:03 Austria HICP (YoY) meets forecasts (3.1%) in March
Austria HICP (YoY) meets forecasts (3.1%) in March
10:02 Austria HICP (MoM) in line with expectations (0.3%) in March
Austria HICP (MoM) in line with expectations (0.3%) in March
09:32 India Gold price today: Gold hits lifetime highs on renewed US Dollar weakness
Fears of the US-China trade war escalation and its impact on the US economy remain unabated, driving a fresh leg down in the US Dollar.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
Fears of the US-China trade war escalation and its impact on the US economy remain unabated, driving a fresh leg down in the US Dollar. This prompted the Gold price record rally to resume. Gold price hit a fresh record high of Indian Rupees (INR) 9,4,8 per gram on Wednesday,
At the press time, Gold price changes hands at INR 9,061.05 per gram, rising from Tuesday's settlement price of INR 8,895.96, according to data compiled by FXStreet.
Meanwhile, Gold price increased to INR 105,686.60 per tola, compared to INR 103,760.70 per tola a day earlier. Unit measure Gold Price in INR 1 Gram 9,061.05 10 Grams 90,610.72 Tola 105,686.60 Troy Ounce 281,831.20
Global Market Movers: Gold price bulls retain control amid trade-related uncertainties US President Donald Trump took a U-turn last week and abruptly backed off his hefty reciprocal tariffs on most US trading partners for 90 days. Moreover, Trump suggested that he might grant exemptions on auto-related levies after removing smartphones, computers, and some other electronics from steep tariffs on China. Trump, however, said that exemptions were only temporary and kept in place 145% duties on other Chinese imports. Trump further promised to unveil tariffs on imported semiconductors over the next week and also threatened that he would impose levies on pharmaceuticals in the not-too-distant future, raising uncertainty. China, on the other hand, increased its tariffs on US imports to 125% last Friday, fueling concerns that a tit-for-tat trade war between the world's two largest economies would weaken global growth. This continues to weigh on investors' sentiment and benefits safe-haven assets, lifting the Gold price to a fresh record high on Wednesday. Meanwhile, Trump's rapid shifts in tariff announcements have eroded investors' faith in US policies and weakened confidence in the US economy. Adding to this, bets that the Federal Reserve (Fed) will lower borrowing costs by 100 basis points in 2025 sent the US Dollar sharply lower, to its lowest level since April 2022 last week. Data released earlier this Wednesday showed that China's economy grew 5.4% in the first quarter from a year earlier, beating expectations. Other Chinese macro data – Retail Sales, Industrial Production, and Fixed Asset Investment – also came in better than estimates, though it was overshadowed by rising trade tensions with the US. Investors now await comments from Fed Chair Jerome Powell for more clues on the interest rate path, which will play a key role in influencing the USD price dynamics. Apart from this, trade-related developments should provide some meaningful impetus to the XAU/USD pair, which seems poised to prolong the uptrend. FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs Why do people invest in Gold?
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold?
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets?
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on?
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up. (An automation tool was used in creating this post.)
09:11 EUR/GBP holds positive ground above 0.8550 after UK CPI inflation data
The EUR/GBP cross gains momentum to near 0.8565 during the early European session on Wednesday. The Pound Sterling (GBP) weakens against the Euro (EUR) after the UK Consumer Price Index (CPI) inflation report.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}EUR/GBP strengthens to around 0.8565 in Wednesday’s early European session. UK CPI inflation declined to 2.6% YoY in March vs. 2.7% expected. The ECB is widely expected to lower interest rates on Thursday, bringing its deposit rate down to 2.25%. The EUR/GBP cross gains momentum to near 0.8565 during the early European session on Wednesday. The Pound Sterling (GBP) weakens against the Euro (EUR) after the UK Consumer Price Index (CPI) inflation report. The attention will shift to the Eurozone Harmonized Index of Consumer Prices (HICP) data, which is due later on Wednesday. Data released by the United Kingdom’s Office for National Statistics on Wednesday showed that the country’s headline CPI rose 2.6% YoY in March, compared to a rise of 2.8% in February. This reading came in softer than the 2.7% expected. The Core CPI, which excludes the volatile prices of food and energy, climbed 3.4% YoY in March versus 3.5% prior, in line with the market consensus of 3.4%. Meanwhile, the monthly UK CPI inflation eased to 0.3% in March from 0.4% in February. Markets projected a rise of 0.4% reading. The Pound Sterling remains weak in an immediate reaction to the cooler-than-expected UK CPI inflation data.On the Euro front, markets are fully priced for another quarter-percentage-point rate cut by the European Central Bank (ECB) to 2.25% on Thursday. The ECB lowered interest rates for the second consecutive time in March, bringing the deposit rate down to 2.5%. A further reduction would see the rate reduction to 2.25%. Bas van Geffen, a senior macro strategist at Rabobank, noted that confusion caused by Trump’s tariffs could lead to a 25 bps cut, as short-term uncertainties remain a source of concern. Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data.
Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money.
When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP.
A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
09:01 United Kingdom Retail Price Index (MoM) came in at 0.3%, above expectations (0%) in March
United Kingdom Retail Price Index (MoM) came in at 0.3%, above expectations (0%) in March
09:01 United Kingdom Consumer Price Index (MoM) came in at 0.3% below forecasts (0.4%) in March
United Kingdom Consumer Price Index (MoM) came in at 0.3% below forecasts (0.4%) in March
09:00 United Kingdom Consumer Price Index (YoY) registered at 2.6%, below expectations (2.7%) in March
United Kingdom Consumer Price Index (YoY) registered at 2.6%, below expectations (2.7%) in March
09:00 United Kingdom Retail Price Index (YoY) meets expectations (3.2%) in March
United Kingdom Retail Price Index (YoY) meets expectations (3.2%) in March
09:00 United Kingdom Core Consumer Price Index (YoY) in line with forecasts (3.4%) in March
United Kingdom Core Consumer Price Index (YoY) in line with forecasts (3.4%) in March
08:25 FX option expiries for Apr 16 NY cut
FX option expiries for Apr 16 NY cut at 10:00 Eastern Time via DTCC can be found below.
FX option expiries for Apr 16 NY cut at 10:00 Eastern Time via DTCC can be found below.EUR/USD: EUR amounts1.1200 1.9b1.1300 722m1.1400 707mGBP/USD: GBP amounts 1.3000 440m1.3150 629mUSD/JPY: USD amounts 141.00 730m145.20 694mUSD/CHF: USD amounts 0.8000 600mAUD/USD: AUD amounts0.6250 1.6b0.6350 1.7b0.6360 986m0.6375 1b0.6400 3.1b0.6500 690mUSD/CAD: USD amounts 1.3700 835m1.4000 1.3b1.4035 702mNZD/USD: NZD amounts0.5925 1b0.5950 1.5b0.6075 703mEUR/GBP: EUR amounts 0.8650 1.2b
08:23 USD/CHF drops to mid-0.8100s, back closer to multi-year low on weaker USD
The USD/CHF pair attracts fresh sellers during the Asian session on Wednesday and erodes a major part of the previous day's modest recovery gains.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}USD/CHF meets with a fresh supply and is pressured by a combination of factors.US recession fears and Fed rate cut bets weigh on the USD and the currency pair.The global flight to safety benefits the CHF and contributes to the offered tone.The USD/CHF pair attracts fresh sellers during the Asian session on Wednesday and erodes a major part of the previous day's modest recovery gains. Spot prices drop back closer to mid-0.8100s in the last hour and remain well within striking distance of a ten-year low touched last Friday amid a broadly weaker US Dollar (USD).In fact, the USD Index (DXY), which tracks the Greenback against a basket of currencies, languishes near its lowest level since April 2022 amid the weakening confidence in the US economy. Furthermore, bets that the Federal Reserve (Fed) will resume its rate-cutting cycle soon and lower borrowing costs by 100 basis points in 2025 continue to dent the appeal for the buck. This, in turn, is seen as a key factor exerting downward pressure on the USD/CHF pair. Meanwhile, the initial market reaction to US President Donald Trump's decision last week to pause sweeping reciprocal tariffs for 90 days turned out to be short-lived amid concerns over a US recession and the escalating US-China trade war. Moreover, Trump's rapidly shifting stance on trade tariffs fuels uncertainty and weighs on investors' sentiment. This benefits the safe-haven Swiss Franc (CHF) and contributes to the offered tone surrounding the USD/CHF pair. The aforementioned fundamental backdrop suggests that the path of least resistance for spot prices remains to the downside and supports prospects for an extension of a three-month-old downtrend, from the year-to-date high touched in January. Traders, however, might opt to wait for Fed Chair Jerome Powell's appearance later during the US session for cues about the rate-cut path. In the meantime, the US Retail Sales data might influence the USD and the USD/CHF pair. Swiss Franc FAQs What key factors drive the Swiss Franc? The Swiss Franc (CHF) is Switzerland’s official currency. It is among the top ten most traded currencies globally, reaching volumes that well exceed the size of the Swiss economy. Its value is determined by the broad market sentiment, the country’s economic health or action taken by the Swiss National Bank (SNB), among other factors. Between 2011 and 2015, the Swiss Franc was pegged to the Euro (EUR). The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone. Why is the Swiss Franc considered a safe-haven currency? The Swiss Franc (CHF) is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress. This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks. Turbulent times are likely to strengthen CHF value against other currencies that are seen as more risky to invest in. How do decisions of the Swiss National Bank impact the Swiss Franc? The Swiss National Bank (SNB) meets four times a year – once every quarter, less than other major central banks – to decide on monetary policy. The bank aims for an annual inflation rate of less than 2%. When inflation is above target or forecasted to be above target in the foreseeable future, the bank will attempt to tame price growth by raising its policy rate. Higher interest rates are generally positive for the Swiss Franc (CHF) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken CHF. How does economic data influence the value of the Swiss Franc? Macroeconomic data releases in Switzerland are key to assessing the state of the economy and can impact the Swiss Franc’s (CHF) valuation. The Swiss economy is broadly stable, but any sudden change in economic growth, inflation, current account or the central bank’s currency reserves have the potential to trigger moves in CHF. Generally, high economic growth, low unemployment and high confidence are good for CHF. Conversely, if economic data points to weakening momentum, CHF is likely to depreciate. How does the Eurozone monetary policy affect the Swiss Franc? As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland’s main economic partner and a key political ally, so macroeconomic and monetary policy stability in the Eurozone is essential for Switzerland and, thus, for the Swiss Franc (CHF). With such dependency, some models suggest that the correlation between the fortunes of the Euro (EUR) and the CHF is more than 90%, or close to perfect.
08:06 USD/CAD Price Forecast: Breaks below 1.3950 as bearish bias prevails
The USD/CAD pair slips slightly after posting gains in the previous session, trading near 1.3940 during Wednesday’s Asian session. Technical analysis on the daily chart indicates a prevailing bearish trend as the pair continues to move lower within a descending channel.
.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a}USD/CAD could extend its decline, with the daily chart pointing to a sustained bearish trend.The 14-day RSI remains below the 50 mark, reinforcing the persistent bearish bias.The nine-day EMA near 1.4023 could serve as the immediate resistance level.The USD/CAD pair slips slightly after posting gains in the previous session, trading near 1.3940 during Wednesday’s Asian session. Technical analysis on the daily chart indicates a prevailing bearish trend as the pair continues to move lower within a descending channel.Additionally, the USD/CAD pair continues to trade below the nine-day Exponential Moving Average (EMA), indicating subdued short-term momentum. At the same time, the 14-day Relative Strength Index (RSI) has climbed above the 30 level, hinting at a potential short-term corrective rebound. However, with the 14-day RSI still below the 50 threshold, the overall bearish bias remains intact.On the downside, the USD/CAD pair could revisit the six-month low of 1.3828, recorded on Monday, aligning closely with the lower boundary of the descending channel around the 1.3750 region. A clear break below this support zone would likely strengthen the bearish outlook and open the door for a decline toward the 1.3419 area — the lowest level since February 2024.Initial resistance for the USD/CAD pair is located at the nine-day EMA around 1.4023, followed by the upper boundary of the descending channel near 1.4130. A breakout above this channel could signal a shift to a bullish bias, potentially pushing the pair toward the 50-day EMA at 1.4227. Beyond that, the next key resistance lies at the two-month high of 1.4543, reached on March 4.USD/CAD: Daily Chart Canadian Dollar PRICE Today The table below shows the percentage change of Canadian Dollar (CAD) against listed major currencies today. Canadian Dollar was the weakest against the Swiss Franc. USD EUR GBP JPY CAD AUD NZD CHF USD -0.59% -0.27% -0.43% -0.17% -0.38% -0.38% -0.97% EUR 0.59% 0.34% 0.15% 0.40% 0.44% 0.22% -0.39% GBP 0.27% -0.34% -0.19% 0.07% 0.11% -0.12% -0.67% JPY 0.43% -0.15% 0.19% 0.28% 0.37% 0.11% -0.57% CAD 0.17% -0.40% -0.07% -0.28% 0.07% -0.18% -0.72% AUD 0.38% -0.44% -0.11% -0.37% -0.07% -0.25% -0.78% NZD 0.38% -0.22% 0.12% -0.11% 0.18% 0.25% -0.56% CHF 0.97% 0.39% 0.67% 0.57% 0.72% 0.78% 0.56% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Canadian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CAD (base)/USD (quote).
07:38 Gold price buying remains unabated; fresh all-time high and counting amid trade jitters
Gold price (XAU/USD) scales higher for the second straight day on Wednesday – also marking the fifth day of a positive move in the previous six – and touches a fresh record high, around the $3,283-3,284 area during the Asian session.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}Gold price continues to attract safe-haven flows amid persistent trade-related uncertainties. Bets for aggressive policy easing by the Fed and a weaker USD also benefit the XAU/USD pair. Investors now look forward to Fed Chair Jerome Powell’s speech for some meaningful impetus. Gold price (XAU/USD) scales higher for the second straight day on Wednesday – also marking the fifth day of a positive move in the previous six – and touches a fresh record high, around the $3,283-3,284 area during the Asian session. The initial market reaction to US President Donald Trump's decision last week to pause reciprocal tariffs for 90 days fades rather quickly amid rapid shifts in policy announcements. Furthermore, investors remain worried about the potential economic fallout amid the ongoing US tariff chaos, which continues to underpin demand for the traditional safe-haven precious metal. Apart from this, expectations for a more aggressive policy easing by the Federal Reserve (Fed) in 2025 turn out to be another factor that benefits the non-yielding Gold price. Meanwhile, the US Dollar (USD) languishes near its lowest level since April 2022 touched last week amid the reduced faith in US policymakers and the weakening confidence in the US economy. This contributes to driving flows towards the XAU/USD and remains supportive of the positive momentum, which seems rather unaffected by overbought conditions. Investors now look forward to comments from Fed Chair Jerome Powell.Daily Digest Market Movers: Gold price prolongs its uptrend as US tariff jitters boost safe-haven demandUS President Donald Trump took a U-turn last week and abruptly backed off his hefty reciprocal tariffs on most US trading partners for 90 days. Moreover, Trump suggested that he might grant exemptions on auto-related levies after removing smartphones, computers, and some other electronics from steep tariffs on China. Trump, however, said that exemptions were only temporary and kept in place 145% duties on other Chinese imports. Trump further promised to unveil tariffs on imported semiconductors over the next week and also threatened that he would impose levies on pharmaceuticals in the not-too-distant future, raising uncertainty. China, on the other hand, increased its tariffs on US imports to 125% last Friday, fueling concerns that a tit-for-tat trade war between the world's two largest economies would weaken global growth. This continues to weigh on investors' sentiment and benefits safe-haven assets, lifting the Gold price to a fresh record high on Wednesday. Meanwhile, Trump's rapid shifts in tariff announcements have eroded investors' faith in US policies and weakened confidence in the US economy. Adding to this, bets that the Federal Reserve (Fed) will lower borrowing costs by 100 basis points in 2025 sent the US Dollar sharply lower, to its lowest level since April 2022 last week. Data released earlier this Wednesday showed that China's economy grew 5.4% in the first quarter from a year earlier, beating expectations. Other Chinese macro data – Retail Sales, Industrial Production, and Fixed Asset Investment – also came in better than estimates, though it was overshadowed by rising trade tensions with the US. Investors now await comments from Fed Chair Jerome Powell for more clues on the interest rate path, which will play a key role in influencing the USD price dynamics. Apart from this, trade-related developments should provide some meaningful impetus to the XAU/USD pair, which seems poised to prolong the uptrend. Gold price bulls might wait for some consolidation or modest pullback before placing fresh bets amid an overbought RSI From a technical perspective, the Relative Strength Index (RSI) on daily/4-hour charts is flashing slightly overbought conditions and warrants some caution for bullish traders. Hence, it will be prudent to wait for some near-term consolidation or a modest pullback before positioning for any further appreciating move for the Gold price. In the meantime, any corrective pullback might now find some support near the $3,246-3,245 area ahead of the Asian session low, around the $3,230-3,229 region. Any further slide, however, might still be seen as a buying opportunity and is more likely to remain limited ahead of the $3,200 round-figure mark. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
07:35 EUR/USD rises to near 1.1350 ahead of Eurozone HICP inflation data
EUR/USD is trading around 1.1340 during the Asian hours on Wednesday, rebounding after two consecutive sessions of losses.
.fxs-event-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-event-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-event-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-event-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:12px}.fxs-event-module-section:last-child{border:none;margin-bottom:0}.fxs-event-module-header{color:#1b1c23;font-weight:700;font-size:16px;font-style:normal;line-height:20px;margin:0;padding:4px 0;background-color:#fff;border:none;position:relative;padding-right:32px}.fxs-event-module-header label{cursor:pointer;display:block}.fxs-event-module-header label:after,.fxs-event-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-event-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-event-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]{display:none}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:after{transform:rotate(45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-event-module-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0;margin-top:8px}.fxs-event-module-content.why-matters{max-height:0;overflow:hidden;transition:all .3s ease-in-out}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-content.why-matters{max-height:1000px;margin-top:8px}.fxs-event-module-calendar-title{color:#1b1c23;font-size:17.6px;font-family:Roboto;font-style:normal;font-weight:700;line-height:20.8px;margin:4px 0 0 0}.fxs-event-module-calendar-title-description-wrapper{display:flex;flex-direction:column;gap:12px;border-bottom:1px solid #ececf1;padding-bottom:16px;margin-bottom:16px}.fxs-event-module-inner-calendar{padding:16px}.fxs-event-module-inner-calendar .fxs-event-module-section{padding:0}.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:12.8px;line-height:17px}.fxs-event-module-read-more{display:flex;align-items:center;align-content:center;gap:4px;color:#e4871b;font-size:12.8px;font-family:Roboto;font-style:normal;font-weight:700;line-height:17px;text-decoration:none}.fxs-event-module-read-more svg{width:16px;height:16px}.fxs-event-module-read-more:hover span{text-decoration:underline}.fxs-event-module-release{margin:0;display:flex;flex-direction:column;gap:2px}.fxs-event-module-release>p{font-size:12.8px;font-family:Roboto;font-style:normal;line-height:17px;margin:0}.fxs-event-module-release>p>strong{color:#8c8d91;font-weight:700}.fxs-event-module-release>p>span{color:#8c8d91;font-weight:400}.fxs-event-module-release>p>a{color:#e4871b;font-weight:700;text-decoration:none}.fxs-event-module-release>p>a:hover>span{text-decoration:underline}.fxs-event-module-inner-calendar .fxs-event-module-container{margin:16px 0 0 0;border-top:1px solid #ececf1;padding:12px 0 0 0}@media (min-width:680px){.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:14.72px;line-height:20px}.fxs-event-module-release p{font-size:14.72px;line-height:20px}.fxs-event-module-read-more{font-size:14.72px;line-height:20px}.fxs-event-module-calendar-title{font-size:22.4px;line-height:25.6px}.fxs-event-module-title{font-size:19.2px;line-height:27.2px}.fxs-event-module-header{font-size:19.2px;line-height:25.92px}.fxs-event-module-content{font-size:16px;line-height:21.6px}}EUR/USD is supported by an improvement in global risk sentiment.The Euro could face headwinds as markets anticipate a 25 basis point rate cut by the ECB on Thursday.CME FedWatch tool indicates that markets are pricing in around 85 basis points of Fed rate cuts by the year-end.EUR/USD is trading around 1.1340 during the Asian hours on Wednesday, rebounding after two consecutive sessions of losses. The pair is drawing support from a more positive global risk sentiment, buoyed by US President Donald Trump's decision to exempt key technology products from his newly announced “reciprocal” tariffs.However, further upside for the Euro (EUR) may be limited as markets widely expect the European Central Bank (ECB) to cut interest rates by 25 basis points on Thursday. This move comes amid escalating recession fears linked to US trade policy. The ECB has already lowered rates twice this year, with the Deposit Facility Rate currently at 2.5%. A cut this week would bring it down to 2.25%.Investors will be closely watching ECB President Christine Lagarde’s press conference for signals on the central bank’s policy direction for the remainder of the year, as well as the potential economic impact of the US tariff measures on the Eurozone.Meanwhile, the CME FedWatch tool shows that markets are pricing in approximately 85 basis points of Fed rate cuts by year-end, with expectations that the Fed will hold rates steady in the upcoming meeting. Later in the day, attention will turn to US Retail Sales data for March, which may provide further insight into how tariff uncertainties are affecting consumer spending. Economic Indicator Core Harmonized Index of Consumer Prices (YoY) The Core Harmonized Index of Consumer Prices (HICP) measures changes in the prices of a representative basket of goods and services in the European Monetary Union. The HICP, – released by Eurostat on a monthly basis, is harmonized because the same methodology is used across all member states and their contribution is weighted. The YoY reading compares prices in the reference month to a year earlier. Core HICP excludes volatile components like food, energy, alcohol, and tobacco. The Core HICP is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as bullish for the Euro (EUR), while a low reading is seen as bearish. Read more. Next release: Wed Apr 16, 2025 09:00 Frequency: Monthly Consensus: 2.4% Previous: 2.4% Source: Eurostat
07:22 Australia Westpac Leading Index (MoM) dipped from previous 0.06% to -0.11% in March
Australia Westpac Leading Index (MoM) dipped from previous 0.06% to -0.11% in March
06:40 Silver Price Forecast: XAG/USD edges higher to near $32.50 due to safe-haven demand
Silver price (XAG/USD) is inching higher after recent losses, trading around $32.30 per troy ounce during Wednesday’s Asian session. The uptick comes as lingering uncertainty over US trade policy continues to fuel safe-haven demand for the precious metal.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}Silver price rises as ongoing uncertainty surrounding US trade policy boosts safe-haven demand.A softer US Dollar is also lending support, making the dollar-denominated metal more appealing to overseas buyers.President Trump has called for an investigation into potential tariffs on all critical mineral imports.Silver price (XAG/USD) is inching higher after recent losses, trading around $32.30 per troy ounce during Wednesday’s Asian session. The uptick comes as lingering uncertainty over US trade policy continues to fuel safe-haven demand for the precious metal.A weaker US Dollar (USD) is also supporting Silver prices, making the dollar-denominated asset more attractive to foreign buyers. The US Dollar Index (DXY), which measures the Greenback against a basket of six major currencies, is trading lower near 99.80 at the time of writing. Market attention now turns to the upcoming US Retail Sales data for March, which could shed light on the impact of tariff tensions on consumer spending.Safe-haven flows into Silver were further bolstered after US President Donald Trump called for an investigation into potential tariffs on all critical mineral imports. This move signals a more aggressive trade stance and raises the risk of tensions with key suppliers, including China. It also partially offsets the market optimism sparked by recent exemptions on certain tech products and possible exclusions for auto parts.Meanwhile, Federal Reserve Governor Christopher Waller attempted to calm market nerves, saying that any inflation arising from tariffs would likely be temporary. Waller also reaffirmed the Fed’s willingness to lower interest rates if needed, signaling the central bank’s commitment to supporting growth. Investors now await the US retail sales report and a speech from Fed Chair Jerome Powell later in the day for further direction on the economic and monetary policy outlook. Silver FAQs Why do people invest in Silver? Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets. Which factors influence Silver prices? Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices. How does industrial demand affect Silver prices? Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices. How do Silver prices react to Gold’s moves? Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
06:29 USD/INR weakens ahead of US Retail Sales release, Fed’s Powell speech
The Indian Rupee (INR) trades in positive territory for the fifth consecutive day on Wednesday. The weakening of the US Dollar (USD) and the extended decline in crude oil prices eased the Indian currency’s losses.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The Indian Rupee gathers strength in Wednesday’s Asian session. The softer US Dollar and lower crude oil prices continue to underpin the INR. The US March Retail Sales report and speech by Fed Chair Powell will be the highlights later on Wednesday. The Indian Rupee (INR) trades in positive territory for the fifth consecutive day on Wednesday. The weakening of the US Dollar (USD) and the extended decline in crude oil prices eased the Indian currency’s losses. It’s worth noting that India is the world's third-largest oil consumer, and lower crude oil prices tend to have a positive impact on the Indian currency value.On the other hand, US President Donald Trump said on Monday that he was considering temporary exemptions to tariffs on imported vehicles and parts to allow automakers additional time to establish manufacturing operations in the US. Nonetheless, tensions between the US and China are escalating, which might weigh on the Asian currencies, including the INR. Looking ahead, investors will keep an eye on the US March Retail Sales later on Wednesday, which is expected to rise 1.3% MoM in March. Also, the speech of Federal Reserve (Fed) Chair Jerome Powell will be in the spotlight. Indian Rupee edges higher on a weaker US DollarThe Reserve Bank of India (RBI) will buy bonds worth 400 billion rupees ($4.67 billion) and will also conduct a 43-day repo for 1.50 trillion rupees on Thursday, per Reuters. India’s Consumer Price Index (CPI) rose by 3.34% YoY in March, compared to 3.61% in February, according to the Ministry of Statistics and Programme Implementation. This reading came in softer than the 3.60% expected. Fed Governor Christopher Waller said on Monday that the Trump administration's tariff policies were a major shock to the US economy that could lead the central bank to cut rates to head off recession even if inflation remained high. Atlanta Fed Bank President Raphael Bostic said that the uncertainty surrounding the Trump administration’s tariff and other policies has put the economy into a "big pause," and he suggested that the Fed bank should stay on hold until there is more clarity.The markets are now pricing in nearly 85 basis points (bps) worth of monetary policy easing by the end of the year, with most expecting the Fed to hold rates next month, according to the CME FedWatch tool. USD/INR resumes its downside journey below the 100-day EMAThe Indian Rupee trades stronger on the day. The USD/INR pair resumes its downside as the pair crosses below the key 100-day Exponential Moving Average (EMA) on the daily timeframe. The downward momentum is supported by the 14-day Relative Strength Index (RSI), which stands below the midline near 42.60, indicating the longer-term bearish bias isn’t completely over yet.The initial support level for USD/INR is located at 85.48, the low of March 24. Further south, the next contention level to watch is 85.20, the low of April 3, followed by 84.95, the low of April 3. In the bullish case, the 85.90-86.00 zone acts as an immediate resistance level for the pair, representing the 100-day EMA and the psychological level. Bullish candlesticks and consistent trading above the mentioned level could see a rally to 86.61, the high of April 10. Indian Rupee FAQs What are the key factors driving the Indian Rupee? The Indian Rupee (INR) is one of the most sensitive currencies to external factors. The price of Crude Oil (the country is highly dependent on imported Oil), the value of the US Dollar – most trade is conducted in USD – and the level of foreign investment, are all influential. Direct intervention by the Reserve Bank of India (RBI) in FX markets to keep the exchange rate stable, as well as the level of interest rates set by the RBI, are further major influencing factors on the Rupee. How do the decisions of the Reserve Bank of India impact the Indian Rupee? The Reserve Bank of India (RBI) actively intervenes in forex markets to maintain a stable exchange rate, to help facilitate trade. In addition, the RBI tries to maintain the inflation rate at its 4% target by adjusting interest rates. Higher interest rates usually strengthen the Rupee. This is due to the role of the ‘carry trade’ in which investors borrow in countries with lower interest rates so as to place their money in countries’ offering relatively higher interest rates and profit from the difference. What macroeconomic factors influence the value of the Indian Rupee? Macroeconomic factors that influence the value of the Rupee include inflation, interest rates, the economic growth rate (GDP), the balance of trade, and inflows from foreign investment. A higher growth rate can lead to more overseas investment, pushing up demand for the Rupee. A less negative balance of trade will eventually lead to a stronger Rupee. Higher interest rates, especially real rates (interest rates less inflation) are also positive for the Rupee. A risk-on environment can lead to greater inflows of Foreign Direct and Indirect Investment (FDI and FII), which also benefit the Rupee. How does inflation impact the Indian Rupee? Higher inflation, particularly, if it is comparatively higher than India’s peers, is generally negative for the currency as it reflects devaluation through oversupply. Inflation also increases the cost of exports, leading to more Rupees being sold to purchase foreign imports, which is Rupee-negative. At the same time, higher inflation usually leads to the Reserve Bank of India (RBI) raising interest rates and this can be positive for the Rupee, due to increased demand from international investors. The opposite effect is true of lower inflation.
05:53 GBP/USD extends rally to fresh six-month highs near 1.3250 ahead of UK CPI data
The GBP/USD pair continues its winning streak that began on April 8, trading around 1.3250 during Wednesday’s Asian session. Earlier in the day, it touched a fresh six-month high at 1.3256.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}GBP/USD reached a fresh six-month high at 1.3256 on Wednesday.Markets have largely priced in a 90% probability of a rate cut in May, according to interest rate futures.The upcoming US Retail Sales data could offer fresh insight into the impact of tariff concerns on consumer behavior.The GBP/USD pair continues its winning streak that began on April 8, trading around 1.3250 during Wednesday’s Asian session. Earlier in the day, it touched a fresh six-month high at 1.3256. The pair has maintained strong momentum, boosted by improved global risk sentiment after US President Donald Trump announced exemptions for key technology products from his new “reciprocal” tariffs.In the UK, labor market data showed on Tuesday that the unemployment rate held steady at 4.4% in February, in line with expectations. Wage growth, however, remained robust, maintaining pressure on the Bank of England (BoE).The BoE has refrained from easing monetary policy, citing persistent wage strength. Nonetheless, interest rate futures suggest that markets have already priced in a 90% probability of a rate cut in May, with expectations for two additional cuts later this year.All eyes are now on the UK Consumer Price Index (CPI) data for March, due later on Wednesday. Economists forecast core CPI—which excludes food and energy—to remain stable at 3.5% year-over-year.Meanwhile, the US Dollar Index (DXY), which measures the US Dollar against a basket of six major currencies, is trading lower near 99.80. Later in the day, the focus will shift to US Retail Sales data for March, which could offer fresh insight into the impact of tariff concerns on consumer behavior. Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data.
Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money.
When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP.
A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
05:47 AUD/JPY keeps the red below mid-90.00s after mostly upbeat Chinese macro data
The AUD/JPY cross drifts lower during the Asian session on Wednesday and moves away from over a one-week high, around the 91.40 region touched the previous day. Spot prices stick to negative bias below the mid-90.00s and move little in reaction to mostly upbeat Chinese macro releases.
.fxs-event-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-event-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-event-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-event-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:12px}.fxs-event-module-section:last-child{border:none;margin-bottom:0}.fxs-event-module-header{color:#1b1c23;font-weight:700;font-size:16px;font-style:normal;line-height:20px;margin:0;padding:4px 0;background-color:#fff;border:none;position:relative;padding-right:32px}.fxs-event-module-header label{cursor:pointer;display:block}.fxs-event-module-header label:after,.fxs-event-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-event-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-event-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]{display:none}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:after{transform:rotate(45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-event-module-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0;margin-top:8px}.fxs-event-module-content.why-matters{max-height:0;overflow:hidden;transition:all .3s ease-in-out}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-content.why-matters{max-height:1000px;margin-top:8px}.fxs-event-module-calendar-title{color:#1b1c23;font-size:17.6px;font-family:Roboto;font-style:normal;font-weight:700;line-height:20.8px;margin:4px 0 0 0}.fxs-event-module-calendar-title-description-wrapper{display:flex;flex-direction:column;gap:12px;border-bottom:1px solid #ececf1;padding-bottom:16px;margin-bottom:16px}.fxs-event-module-inner-calendar{padding:16px}.fxs-event-module-inner-calendar .fxs-event-module-section{padding:0}.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:12.8px;line-height:17px}.fxs-event-module-read-more{display:flex;align-items:center;align-content:center;gap:4px;color:#e4871b;font-size:12.8px;font-family:Roboto;font-style:normal;font-weight:700;line-height:17px;text-decoration:none}.fxs-event-module-read-more svg{width:16px;height:16px}.fxs-event-module-read-more:hover span{text-decoration:underline}.fxs-event-module-release{margin:0;display:flex;flex-direction:column;gap:2px}.fxs-event-module-release>p{font-size:12.8px;font-family:Roboto;font-style:normal;line-height:17px;margin:0}.fxs-event-module-release>p>strong{color:#8c8d91;font-weight:700}.fxs-event-module-release>p>span{color:#8c8d91;font-weight:400}.fxs-event-module-release>p>a{color:#e4871b;font-weight:700;text-decoration:none}.fxs-event-module-release>p>a:hover>span{text-decoration:underline}.fxs-event-module-inner-calendar .fxs-event-module-container{margin:16px 0 0 0;border-top:1px solid #ececf1;padding:12px 0 0 0}@media (min-width:680px){.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:14.72px;line-height:20px}.fxs-event-module-release p{font-size:14.72px;line-height:20px}.fxs-event-module-read-more{font-size:14.72px;line-height:20px}.fxs-event-module-calendar-title{font-size:22.4px;line-height:25.6px}.fxs-event-module-title{font-size:19.2px;line-height:27.2px}.fxs-event-module-header{font-size:19.2px;line-height:25.92px}.fxs-event-module-content{font-size:16px;line-height:21.6px}}AUD/JPY attracts fresh sellers and retreats further from over a one-week high set on Tuesday. Trade uncertainties continue to weigh on investors’ sentiment and underpin the safe-haven JPY.US-China trade tensions overshadow upbeat Chinese data and do little to support spot prices. The AUD/JPY cross drifts lower during the Asian session on Wednesday and moves away from over a one-week high, around the 91.40 region touched the previous day. Spot prices stick to negative bias below the mid-90.00s and move little in reaction to mostly upbeat Chinese macro releases. The official data published by the National Bureau of Statistics (NBS) showed that China’s economy expanded at an annual rate of 5.4% in the first quarter (Q1) of 2025 compared to the market forecast of 5.1%. On a quarterly basis, however, Chinese economic growth slowed from 1.6% to 1.2%, missing consensus estimates for a 1.4% print. Meanwhile, China’s annual March Retail Sales jumped by 5.9% vs. the 4.2% expected and 4% prior, while Industrial Production came in at 7.7% vs. 5.6% estimate and February’s 5.9%. Furthermore, the Fixed Asset Investment advanced 4.2% year-to-date (YTD) year-over-year (YoY) in March vs 4.1% expected and 4.1% previous. However, the rapidly escalating US-China trade war, to a larger extent, overshadows the upbeat data and does little to provide any meaningful impetus to the China-proxy Australian Dollar (AUD). Moreover, persistent safe-haven demand, along with bets that the Bank of Japan (BoJ) will hike interest rates further, underpins the Japanese Yen (JPY) and weighs on the AUD/JPY cross. Meanwhile, the Reserve Bank of Australia (RBA) minutes released on Tuesday suggested that policymakers remain cautious about further interest rate cuts amid global economic uncertainty. This might hold back traders from placing aggressive bearish bets around the AUD and help limit the downside for the AUD/JPY cross. Traders now look forward to monthly employment details from Australia, due for release during the Asian session on Thursday, which will play a key role in influencing the near-term trajectory for the AUD. Economic Indicator Gross Domestic Product (YoY) The Gross Domestic Product (GDP), released by the National Bureau of Statistics of China on a monthly basis, is a measure of the total value of all goods and services produced in China during a given period. The GDP is considered as the main measure of China’s economic activity. The YoY reading compares economic activity in the reference quarter compared with the same quarter a year earlier. Generally speaking, a rise in this indicator is bullish for the Renminbi (CNY), while a low reading is seen as bearish. Read more. Last release: Wed Apr 16, 2025 02:00 Frequency: Quarterly Actual: 5.4% Consensus: 5.1% Previous: 5.4% Source:
05:26 Japanese Yen remains close to multi-month top against a broadly weaker USD
The Japanese Yen (JPY) regains positive traction following the previous day's modest downtick as trade-related uncertainties keep investors on the edge and continue to underpin traditional safe-haven assets.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The Japanese Yen attracts fresh buying as trade jitters boost safe-haven demand. Hopes for a US-Japan trade deal and BoJ rate hike bets further underpin the JPY.Dovish Fed expectations keep the USD depressed and also weigh on the USD/JPY pair. The Japanese Yen (JPY) regains positive traction following the previous day's modest downtick as trade-related uncertainties keep investors on the edge and continue to underpin traditional safe-haven assets. Adding to this data released earlier today showed that Japan’s core machinery orders rebounded sharply in February and surpassed market expectations. This, along with hopes that Japan might strike a trade deal with the US and the growing acceptance that the Bank of Japan (BoJ) will continue raising interest rates in 2025, turn out to be other factors supporting the JPY. Meanwhile, hawkish BoJ expectations mark a big divergence in comparison to rising bets for more aggressive policy easing by the Federal Reserve (Fed). This would result in the further narrowing of the rate differential between Japan and the US, which, in turn, supports prospects for a further appreciating move for the lower-yielding JPY. The US Dollar (USD), on the other hand, languishes near a multi-year low amid worries that the Trump administration’s trade policies would hinder the US economic growth. This keeps the USD/JPY pair close to over a six-month low touched last week. Japanese Yen continues to draw support from uncertainty over Trump’s trade policies and hawkish BoJ expectationsUS President Donald Trump's rapidly shifting stance on trade tariffs continues to fuel uncertainty and support traditional safe-haven assets, including the Japanese Yen. Over the weekend, the Trump administration granted exclusions from steep tariffs on smartphones, computers, and other electronics imported largely from China. Adding to this, Trump suggested on Monday that he was looking into possible exemptions for the auto industry from the 25% tariffs already in place. Trump, however, promised more tariffs on other key sectors like semiconductors as soon as next week and threatened that he would impose tariffs on pharmaceuticals in the near future. Data released this Wednesday showed that Japan’s Core Machinery Orders rose more than expected, by 4.3% in February, marking the highest level in a year and a strong recovery from January’s 3.5% decline. Additional details of the report revealed that manufacturing Orders rose 3%, while non-manufacturing orders jumped 11.4%.This points to improving business sentiment, which should support capital investment and boost employment. Adding to this higher wages may fuel demand-driven inflation. This keeps the door open for another Bank of Japan interest rate hike during the first half of 2025 and turns out to be another factor lending support to the JPY. Investors remain optimistic about a positive outcome from US-Japan trade talks. In fact, Trump said last week that tough but fair parameters are being set for a negotiation. Adding to this, US Treasury Secretary Scott Bessent said that Japan may be a priority in tariff negotiations, fueling hopes for a possible US-Japan trade deal.Meanwhile, the recent unusual sell-off in the US Treasuries suggests that investors are losing faith in the US economy, which continues to dent the appeal for the US Dollar. Moreover, traders have been pricing in the possibility that the Federal Reserve will resume cutting rates in June and reduce its policy rate by 100 basis points this year.Hence, Fed Chair Jerome Powell's speech later this Wednesday will be scrutinized closely for cues about the future rate-cut path and determining the near-term USD trajectory. In the meantime, the US Retail Sales should allow traders to grab short-term opportunities around the USD/JPY pair later during the North American session. USD/JPY bears might aim to retest the multi-month low around 142.00; attempted recovery is likely to get sold intoFrom a technical perspective, the USD/JPY pair's inability to attract any meaningful buyers suggests that a multi-month-old downtrend is still far from being over. Moreover, oscillators on the daily chart are holding deep in negative territory, which further suggests that the path of least resistance for spot prices remains to the downside. In the meantime, any further decline is likely to find some support near the 142.25-142.20 region, or the weekly trough, ahead of the 142.00 mark, or the multi-month low touched last Friday. A convincing break below the latter will reaffirm the negative bias and pave the way for a further near-term depreciating move for the currency pair. On the flip side, attempted recovery back above the 143.00 mark might now confront stiff resistance near the overnight swing high, around the 143.60 region. Any further move up could be seen as a selling opportunity and remain capped near the 144.00 round figure. The latter should act as a key pivotal point, which if cleared decisively might trigger a short-covering rally and lift the USD/JPY pair to the 144.45-144.50 horizontal barrier en route to the 145.00 psychological mark. The momentum could extend further towards the 145.50 zone and the 146.00 round figure. Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. How do the decisions of the Bank of Japan impact the Japanese Yen? One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen. How does the differential between Japanese and US bond yields impact the Japanese Yen? Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential. How does broader risk sentiment impact the Japanese Yen? The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.
05:24 Australian Dollar remains firm after release of China’s Q1 GDP data
The Australian Dollar (AUD) extends its winning streak against the US Dollar (USD) for a sixth consecutive session on Wednesday, with the AUD/USD pair holding firm after the release of Australia’s Westpac Leading Index.
.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a}
.fxs-event-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-event-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-event-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-event-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:12px}.fxs-event-module-section:last-child{border:none;margin-bottom:0}.fxs-event-module-header{color:#1b1c23;font-weight:700;font-size:16px;font-style:normal;line-height:20px;margin:0;padding:4px 0;background-color:#fff;border:none;position:relative;padding-right:32px}.fxs-event-module-header label{cursor:pointer;display:block}.fxs-event-module-header label:after,.fxs-event-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-event-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-event-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]{display:none}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:after{transform:rotate(45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-event-module-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0;margin-top:8px}.fxs-event-module-content.why-matters{max-height:0;overflow:hidden;transition:all .3s ease-in-out}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-content.why-matters{max-height:1000px;margin-top:8px}.fxs-event-module-calendar-title{color:#1b1c23;font-size:17.6px;font-family:Roboto;font-style:normal;font-weight:700;line-height:20.8px;margin:4px 0 0 0}.fxs-event-module-calendar-title-description-wrapper{display:flex;flex-direction:column;gap:12px;border-bottom:1px solid #ececf1;padding-bottom:16px;margin-bottom:16px}.fxs-event-module-inner-calendar{padding:16px}.fxs-event-module-inner-calendar .fxs-event-module-section{padding:0}.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:12.8px;line-height:17px}.fxs-event-module-read-more{display:flex;align-items:center;align-content:center;gap:4px;color:#e4871b;font-size:12.8px;font-family:Roboto;font-style:normal;font-weight:700;line-height:17px;text-decoration:none}.fxs-event-module-read-more svg{width:16px;height:16px}.fxs-event-module-read-more:hover span{text-decoration:underline}.fxs-event-module-release{margin:0;display:flex;flex-direction:column;gap:2px}.fxs-event-module-release>p{font-size:12.8px;font-family:Roboto;font-style:normal;line-height:17px;margin:0}.fxs-event-module-release>p>strong{color:#8c8d91;font-weight:700}.fxs-event-module-release>p>span{color:#8c8d91;font-weight:400}.fxs-event-module-release>p>a{color:#e4871b;font-weight:700;text-decoration:none}.fxs-event-module-release>p>a:hover>span{text-decoration:underline}.fxs-event-module-inner-calendar .fxs-event-module-container{margin:16px 0 0 0;border-top:1px solid #ececf1;padding:12px 0 0 0}@media (min-width:680px){.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:14.72px;line-height:20px}.fxs-event-module-release p{font-size:14.72px;line-height:20px}.fxs-event-module-read-more{font-size:14.72px;line-height:20px}.fxs-event-module-calendar-title{font-size:22.4px;line-height:25.6px}.fxs-event-module-title{font-size:19.2px;line-height:27.2px}.fxs-event-module-header{font-size:19.2px;line-height:25.92px}.fxs-event-module-content{font-size:16px;line-height:21.6px}}The Australian Dollar holds steady despite the release of a softer Westpac Leading Index on Wednesday.China's GDP grew by 5.4% YoY in Q1, surpassing the expected 5.1% and maintaining a steady pace of expansion.The US Dollar remains muted ahead of the release of March Retail Sales data later in the day. The Australian Dollar (AUD) extends its winning streak against the US Dollar (USD) for a sixth consecutive session on Wednesday, with the AUD/USD pair holding firm after the release of Australia’s Westpac Leading Index. The index’s six-month annualised growth rate, which forecasts economic momentum relative to the trend over the next three to nine months, eased to 0.6% in March from 0.9% in February.China’s economy grew at an annual rate of 5.4% in the first quarter of 2025, matching the pace seen in Q4 2024 and surpassing market expectations of 5.1%. On a quarterly basis, GDP rose by 1.2% in Q1, following a 1.6% increase in the previous quarter, falling short of the forecasted 1.4% gain.Meanwhile, China’s Retail Sales surged 5.9% year-over-year, beating expectations of 4.2% and up from February’s 4%. Industrial Production also outperformed, rising 7.7% compared to the 5.6% forecast and February’s 5.9% print.The AUD also drew support from improved global risk sentiment after US President Donald Trump excluded key technology products from newly proposed “reciprocal” tariffs. The exemptions—covering smartphones, computers, semiconductors, solar cells, and flat-panel displays—largely apply to goods manufactured in China, Australia’s largest trading partner and a key buyer of its commodities.Australia’s 10-year government bond yield slipped to 4.33% as investors digested minutes from the Reserve Bank of Australia’s (RBA) March 31–April 1 meeting. The Minutes indicated that Q1 data showed trimmed mean inflation dipping below 3% while consumer demand appeared to be picking up. The RBA signaled that while the May meeting could be a suitable time to revisit monetary policy, no decision had yet been made. Markets are currently pricing in a 25-basis point rate cut in May and expect approximately 120 basis points of easing over the year. Focus now shifts to Thursday’s employment report, which could provide key labor market signals and influence the RBA’s next move.Australian Dollar advances as US Dollar remains subdued amid eroding investor confidenceThe US Dollar Index (DXY), which tracks the USD against a basket of six major currencies, is trading lower at near 99.80 at the time of writing. Later in the day, US Retail Sales data for March is set to be released, potentially providing insight into how rising tariff concerns are influencing consumer spending.A recent consumer sentiment survey by the Federal Reserve Bank of New York shows a sharp increase in the number of households expecting higher inflation, weaker job prospects, and worsening credit conditions in the coming months.Atlanta Fed President Raphael Bostic remarked during early Tuesday’s market session that the US central bank still has a long road ahead to achieve its 2% inflation target, casting doubt on market expectations for additional interest rate cuts.The University of Michigan’s sentiment index dropped to 50.8 in April, while one-year inflation expectations surged to 6.7%. The US Producer Price Index (PPI) rose 2.7% year-over-year in March, down from 3.2% in February, with the core rate easing to 3.3%. Jobless claims ticked up to 223,000, although continuing claims declined to 1.85 million—pointing to a mixed picture in the labor market.Escalating trade tensions between the US and China have revived concerns about a potential global economic slowdown. On Friday, China’s Ministry of Finance announced a sharp increase in tariffs on US goods, raising them from 84% to 125%. This action came in response to President Trump’s earlier move to raise tariffs on Chinese imports to 145%.The US Consumer Price Index (CPI) inflation eased to 2.4% year-over-year in March, down from 2.8% in February and below the market forecast of 2.6%. Core CPI, which excludes food and energy prices, rose 2.8% annually, compared to 3.1% previously and missing the 3.0% estimate. On a monthly basis, headline CPI dipped by 0.1%, while core CPI edged up by 0.1%.The People's Bank of China (PBoC) is expected to implement further monetary easing in Q2 2025. This includes a potential 15 basis point cut to the loan prime rate (LPR) and a minimum 25 basis point reduction in the reserve requirement ratio (RRR). According to Citi analysts, cited in a Reuters report, there’s an increasing likelihood that domestic stimulus measures will be accelerated in response to mounting external pressures.Australian Dollar holds gains near 0.6350 due to persistent bullish bias The AUD/USD pair is hovering around the 0.6350 level on Wednesday, with daily chart technicals signaling a bullish outlook. The pair continues to trade above both the nine-day and 50-day Exponential Moving Averages (EMAs), while the 14-day Relative Strength Index (RSI) holds above the neutral 50 mark, supporting the ongoing upward momentum.On the upside, a break above 0.6400—the psychological barrier—could pave the way for a retest of the four-month high at 0.6408, last seen on February 21.Initial support lies at the 50-day EMA near 0.6273, followed by the nine-day EMA around 0.6262. A clear drop below these levels would challenge the short-term bullish structure and could open the path toward the 0.5914 region—its lowest since March 2020—and the critical 0.5900 psychological mark.AUD/USD: Daily Chart Australian Dollar PRICE Today The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the US Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.41% -0.17% -0.39% -0.09% -0.35% -0.11% -0.78% EUR 0.41% 0.26% 0.03% 0.31% 0.29% 0.32% -0.38% GBP 0.17% -0.26% -0.25% 0.06% 0.04% 0.06% -0.59% JPY 0.39% -0.03% 0.25% 0.31% 0.35% 0.34% -0.43% CAD 0.09% -0.31% -0.06% -0.31% 0.01% -0.01% -0.61% AUD 0.35% -0.29% -0.04% -0.35% -0.01% 0.00% -0.62% NZD 0.11% -0.32% -0.06% -0.34% 0.00% -0.00% -0.64% CHF 0.78% 0.38% 0.59% 0.43% 0.61% 0.62% 0.64% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote). Economic Indicator Gross Domestic Product (YoY) The Gross Domestic Product (GDP), released by the National Bureau of Statistics of China on a monthly basis, is a measure of the total value of all goods and services produced in China during a given period. The GDP is considered as the main measure of China’s economic activity. The YoY reading compares economic activity in the reference quarter compared with the same quarter a year earlier. Generally speaking, a rise in this indicator is bullish for the Renminbi (CNY), while a low reading is seen as bearish. Read more. Last release: Wed Apr 16, 2025 02:00 Frequency: Quarterly Actual: 5.4% Consensus: 5.1% Previous: 5.4% Source:
05:15 UK CPI expected to edge lower in March, paving the way for BoE rate cut in May
The United Kingdom’s (UK) Consumer Price Index (CPI) data for March will be published by the Office for National Statistics (ONS) on Wednesday at 06:00 GMT.
.fxs-event-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-event-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-event-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-event-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:12px}.fxs-event-module-section:last-child{border:none;margin-bottom:0}.fxs-event-module-header{color:#1b1c23;font-weight:700;font-size:16px;font-style:normal;line-height:20px;margin:0;padding:4px 0;background-color:#fff;border:none;position:relative;padding-right:32px}.fxs-event-module-header label{cursor:pointer;display:block}.fxs-event-module-header label:after,.fxs-event-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-event-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-event-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]{display:none}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:after{transform:rotate(45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-event-module-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0;margin-top:8px}.fxs-event-module-content.why-matters{max-height:0;overflow:hidden;transition:all .3s ease-in-out}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-content.why-matters{max-height:1000px;margin-top:8px}.fxs-event-module-calendar-title{color:#1b1c23;font-size:17.6px;font-family:Roboto;font-style:normal;font-weight:700;line-height:20.8px;margin:4px 0 0 0}.fxs-event-module-calendar-title-description-wrapper{display:flex;flex-direction:column;gap:12px;border-bottom:1px solid #ececf1;padding-bottom:16px;margin-bottom:16px}.fxs-event-module-inner-calendar{padding:16px}.fxs-event-module-inner-calendar .fxs-event-module-section{padding:0}.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:12.8px;line-height:17px}.fxs-event-module-read-more{display:flex;align-items:center;align-content:center;gap:4px;color:#e4871b;font-size:12.8px;font-family:Roboto;font-style:normal;font-weight:700;line-height:17px;text-decoration:none}.fxs-event-module-read-more svg{width:16px;height:16px}.fxs-event-module-read-more:hover span{text-decoration:underline}.fxs-event-module-release{margin:0;display:flex;flex-direction:column;gap:2px}.fxs-event-module-release>p{font-size:12.8px;font-family:Roboto;font-style:normal;line-height:17px;margin:0}.fxs-event-module-release>p>strong{color:#8c8d91;font-weight:700}.fxs-event-module-release>p>span{color:#8c8d91;font-weight:400}.fxs-event-module-release>p>a{color:#e4871b;font-weight:700;text-decoration:none}.fxs-event-module-release>p>a:hover>span{text-decoration:underline}.fxs-event-module-inner-calendar .fxs-event-module-container{margin:16px 0 0 0;border-top:1px solid #ececf1;padding:12px 0 0 0}@media (min-width:680px){.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:14.72px;line-height:20px}.fxs-event-module-release p{font-size:14.72px;line-height:20px}.fxs-event-module-read-more{font-size:14.72px;line-height:20px}.fxs-event-module-calendar-title{font-size:22.4px;line-height:25.6px}.fxs-event-module-title{font-size:19.2px;line-height:27.2px}.fxs-event-module-header{font-size:19.2px;line-height:25.92px}.fxs-event-module-content{font-size:16px;line-height:21.6px}}
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The United Kingdom’s Office for National Statistics will publish the March CPI data on Wednesday.The annual UK headline inflation is set to cool in March, while core CPI is seen to remain unchanged.The UK CPI data could inject volatility around the Pound Sterling amid a cautious BoE.The United Kingdom’s (UK) Consumer Price Index (CPI) data for March will be published by the Office for National Statistics (ONS) on Wednesday at 06:00 GMT.The UK CPI inflation report could significantly impact the market’s expectations for the Bank of England’s (BoE) future interest rate cuts, which could trigger a big reaction in the Pound Sterling (GBP).What to expect from the next UK inflation report?The UK Consumer Price Index is forecast to rise 2.7% year-over-year (YoY) in March, following a 2.8% increase in February.The reading is expected to remain distant from the BoE’s 2.0% target.Core CPI inflation, which excludes energy, food, alcohol, and tobacco prices, is expected to rise by 3.5% YoY in March, unchanged from February.According to a Bloomberg survey of economists, official data is expected to show that service inflation has ticked lower to 4.8% in March after remaining at 5% in February.Meanwhile, the British monthly CPI is expected to rise by 0.4% in the same period, matching the increase recorded in February.Previewing the UK inflation data, TD Securities analysts noted: “We expect inflation to continue dropping in March, with headline coming in at 2.6% (mkt: 2.7%; prior: 2.8%). Services are the main driver at 4.7% YoY (prior: 5.0% YoY, mkt: 4.8%), which would also feed into a decline in core to 3.3% YoY (prior: 3.5% YoY). Though these numbers remain above the BoE's comfort, the downward trajectory will be welcomed ahead of their May meeting.”How will the UK Consumer Price Index report affect GBP/USD?The expected slight cooldown in British inflation would clear the BoE’s path to cut rates by 25 basis points (bps) to 4.25% at its May 8 policy meeting. Meanwhile, money markets are pricing in 75-100 bps of total rate reductions this year due to the gloomy UK economic outlook, courtesy of the global tariff war. At its March monetary policy meeting, the BoE held interest rates at 4.5%, with the voting pattern showing 8-1 in favor of holding rates, while one member voted to cut.The bank said in its policy statement that "global trade policy uncertainty has intensified" in recent weeks, citing US tariffs and other countries' responses.Therefore, an upside surprise to the headline inflation data would push back against the expectations of further rate cuts by the BoE following the potential easing in May. In such a case, the Pound Sterling will receive the much-needed boost, lifting GBP/USD closer to the 1.3300 barrier. Conversely, tamer inflation readings will likely revive bets of aggressive BoE rate cuts, which could trigger a fresh GBP/USD downtrend.Dhwani Mehta, Asian Session Lead Analyst at FXStreet, offers a brief technical outlook for the major and explains: “GBP/USD is battling the 1.3200 barrier while holding well above all major daily Simple Moving Averages (SMA) heading into the UK CPI release. The 14-day Relative Strength Index (RSI) momentum indicator stays above 50. A Golden Cross is in the making as the 50-day SMA is on the verge of crossing the 200-day SMA from below. These technical indicators continue to paint a bullish picture for the major in the near term.”Dhwani adds: “The pair needs acceptance above the 1.3250 psychological barrier to extend the uptrend toward the 1.3300 threshold. The next topside target is aligned at the October 2024 high of 1.3390. Conversely, the immediate support is seen at the 21-day SMA at 1.2958, below which the confluence zone of the 50-day SMA and the 200-day SMA around 1.2810 will be tested. If sellers crack that level, a fresh downside toward the 100-day SMA of 1.2652 will be inevitable.” Economic Indicator Consumer Price Index (YoY) The United Kingdom (UK) Consumer Price Index (CPI), released by the Office for National Statistics on a monthly basis, is a measure of consumer price inflation – the rate at which the prices of goods and services bought by households rise or fall – produced to international standards. It is the inflation measure used in the government’s target. The YoY reading compares prices in the reference month to a year earlier. Generally, a high reading is seen as bullish for the Pound Sterling (GBP), while a low reading is seen as bearish. Read more. Next release: Wed Apr 16, 2025 06:00 Frequency: Monthly Consensus: 2.7% Previous: 2.8% Source: Office for National Statistics Why it matters to traders? The Bank of England is tasked with keeping inflation, as measured by the headline Consumer Price Index (CPI) at around 2%, giving the monthly release its importance. An increase in inflation implies a quicker and sooner increase of interest rates or the reduction of bond-buying by the BOE, which means squeezing the supply of pounds. Conversely, a drop in the pace of price rises indicates looser monetary policy. A higher-than-expected result tends to be GBP bullish. Inflation FAQs What is inflation? Inflation measures the rise in the price of a representative basket of goods and services. Headline inflation is usually expressed as a percentage change on a month-on-month (MoM) and year-on-year (YoY) basis. Core inflation excludes more volatile elements such as food and fuel which can fluctuate because of geopolitical and seasonal factors. Core inflation is the figure economists focus on and is the level targeted by central banks, which are mandated to keep inflation at a manageable level, usually around 2%. What is the Consumer Price Index (CPI)? The Consumer Price Index (CPI) measures the change in prices of a basket of goods and services over a period of time. It is usually expressed as a percentage change on a month-on-month (MoM) and year-on-year (YoY) basis. Core CPI is the figure targeted by central banks as it excludes volatile food and fuel inputs. When Core CPI rises above 2% it usually results in higher interest rates and vice versa when it falls below 2%. Since higher interest rates are positive for a currency, higher inflation usually results in a stronger currency. The opposite is true when inflation falls. What is the impact of inflation on foreign exchange? Although it may seem counter-intuitive, high inflation in a country pushes up the value of its currency and vice versa for lower inflation. This is because the central bank will normally raise interest rates to combat the higher inflation, which attract more global capital inflows from investors looking for a lucrative place to park their money. How does inflation influence the price of Gold? Formerly, Gold was the asset investors turned to in times of high inflation because it preserved its value, and whilst investors will often still buy Gold for its safe-haven properties in times of extreme market turmoil, this is not the case most of the time. This is because when inflation is high, central banks will put up interest rates to combat it.
Higher interest rates are negative for Gold because they increase the opportunity-cost of holding Gold vis-a-vis an interest-bearing asset or placing the money in a cash deposit account. On the flipside, lower inflation tends to be positive for Gold as it brings interest rates down, making the bright metal a more viable investment alternative.
05:13 NZD/USD attracts some buyers above 0.5900 as China’s economy grows 5.4% YoY in Q1
The NZD/USD pair holds positive ground around 0.5905 during the Asian trading hours on Wednesday. The Kiwi strengthens against the US Dollar (USD) after the upbeat Chinese economic data.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}NZD/USD gains traction to near 0.5905 in Wednesday’s Asian session. China’s economy grew 5.4% YoY in Q1, stronger than expected. Vacillating US trade policies and Fed rate cut bets weigh on the US Dollar. The NZD/USD pair holds positive ground around 0.5905 during the Asian trading hours on Wednesday. The Kiwi strengthens against the US Dollar (USD) after the upbeat Chinese economic data. Traders will shift their attention to the US March Retail Sales and the speech of Federal Reserve (Fed) Chair Jerome Powell on Wednesday.Data released by the National Bureau of Statistics of China on Wednesday showed that China’s Gross Domestic Product (GDP) rate climbed 5.4% YoY in the first quarter (Q1), compared to an annual rate of 5.4% recorded in the final quarter of last year. This figure came in stronger than the market forecast of 5.1%. On a quarterly basis, the Chinese Gross Domestic Product (GDP) rate rose 1.2% in Q1 versus 1.6% in the previous quarter, missing the anticipated 1.4% print.Meanwhile, the nation’s Retail Sales jumped by 5.9% YoY in March versus 4.0% prior and 4.2% expected. Industrial Production arrived at 7.7% YoY in March from 5.9% in February, above the market consensus of 5.6%. The New Zealand Dollar (NZD) attracts some buyers in an immediate reaction to stronger-than-expected Chinese economic data. Trump raised additional tariffs to 84% on April 9 and has since increased that to 125%, bringing the total tariffs on Chinese goods exported to the US to 145%. On Monday, Trump said he was considering a modification to the 25% tariffs imposed on foreign auto and auto parts imports from Mexico, Canada and other nations. The uncertainty surrounding Trump’s tariff policy and rising bets that a tariff-driven US economic slowdown might force the Federal Reserve (Fed) to cut interest rates more aggressively in 2025 could drag the Greenback lower and create a tailwind for the NZD/USD pair in the near term. The markets are now pricing in nearly 85 basis points (bps) worth of monetary policy easing by the end of the year, with most expecting the Fed to hold rates next month, according to the CME FedWatch tool. New Zealand Dollar FAQs What key factors drive the New Zealand Dollar? The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency. Another factor moving NZD is dairy prices as the dairy industry is New Zealand’s main export. High dairy prices boost export income, contributing positively to the economy and thus to the NZD. How do decisions of the RBNZ impact the New Zealand Dollar? The Reserve Bank of New Zealand (RBNZ) aims to achieve and maintain an inflation rate between 1% and 3% over the medium term, with a focus to keep it near the 2% mid-point. To this end, the bank sets an appropriate level of interest rates. When inflation is too high, the RBNZ will increase interest rates to cool the economy, but the move will also make bond yields higher, increasing investors’ appeal to invest in the country and thus boosting NZD. On the contrary, lower interest rates tend to weaken NZD. The so-called rate differential, or how rates in New Zealand are or are expected to be compared to the ones set by the US Federal Reserve, can also play a key role in moving the NZD/USD pair. How does economic data influence the value of the New Zealand Dollar? Macroeconomic data releases in New Zealand are key to assess the state of the economy and can impact the New Zealand Dollar’s (NZD) valuation. A strong economy, based on high economic growth, low unemployment and high confidence is good for NZD. High economic growth attracts foreign investment and may encourage the Reserve Bank of New Zealand to increase interest rates, if this economic strength comes together with elevated inflation. Conversely, if economic data is weak, NZD is likely to depreciate. How does broader risk sentiment impact the New Zealand Dollar? The New Zealand Dollar (NZD) tends to strengthen during risk-on periods, or when investors perceive that broader market risks are low and are optimistic about growth. This tends to lead to a more favorable outlook for commodities and so-called ‘commodity currencies’ such as the Kiwi. Conversely, NZD tends to weaken at times of market turbulence or economic uncertainty as investors tend to sell higher-risk assets and flee to the more-stable safe havens.
05:13 China’s NBS: External environment more complex and serious
Following the publication of the high-impact China’s first-quarter growth and December activity data, the National Bureau of Statistics (NBS) expressed its outlook on the economy during its press conference on Wednesday.
Following the publication of the high-impact China’s first-quarter growth and December activity data, the National Bureau of Statistics (NBS) expressed its outlook on the economy during its press conference on Wednesday.Key quotes (via Reuters)Economy at good start with continued recovery momentum as policies gain traction.External environment more complex and serious.
developing story ...
developing story ...
05:01 Breaking: China’s economy expands 5.4% YoY in Q1 2025 vs. 5.1% expected
China’s economy expanded at an annual rate of 5.4% in the first quarter (Q1) of 2025, at the same pace seen in the final quarter of last year, the official data published by the National Bureau of Statistics (NBS) showed on Wednesday. Data beat the market forecast of 5.1% in the reported period.
.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a}
China’s economy expanded at an annual rate of 5.4% in the first quarter (Q1) of 2025, at the same pace seen in the final quarter of last year, the official data published by the National Bureau of Statistics (NBS) showed on Wednesday. Data beat the market forecast of 5.1% in the reported period.On a quarterly basis, the Chinese Gross Domestic Product (GDP) rate rose 1.2% in Q1 2025 after advancing 1.6% in the previous quarter, missing the anticipated 1.4% print.China’s annual March Retail Sales jumped by 5.9% vs. 4.2% expected and 4% prior, while Industrial Production came in at 7.7% vs. 5.6% estimate and February’s 5.9%.Meanwhile, the Fixed Asset Investment advanced 4.2% year-to-date (YTD) year-over-year (YoY) in March vs 4.1% expected and 4.1% previous.AUD/USD reaction to China’s data dumpChina’s GDP and activity data offers additional boost to the Australian Dollar, as the AUD/USD pair retakes 0.6350. At the time of writing, AUD/USD is trades 0.10% higher on the day. Australian Dollar PRICE Today The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the US Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.41% -0.19% -0.34% -0.10% -0.40% -0.12% -0.75% EUR 0.41% 0.25% 0.08% 0.30% 0.25% 0.31% -0.33% GBP 0.19% -0.25% -0.17% 0.06% 0.01% 0.06% -0.53% JPY 0.34% -0.08% 0.17% 0.26% 0.26% 0.29% -0.43% CAD 0.10% -0.30% -0.06% -0.26% -0.02% 0.00% -0.56% AUD 0.40% -0.25% -0.01% -0.26% 0.02% 0.03% -0.54% NZD 0.12% -0.31% -0.06% -0.29% 0.00% -0.03% -0.59% CHF 0.75% 0.33% 0.53% 0.43% 0.56% 0.54% 0.59% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).
05:00 China Retail Sales (YoY) registered at 5.9% above expectations (4.2%) in March
China Retail Sales (YoY) registered at 5.9% above expectations (4.2%) in March
05:00 China Gross Domestic Product (QoQ) below expectations (1.4%) in 1Q: Actual (1.2%)
China Gross Domestic Product (QoQ) below expectations (1.4%) in 1Q: Actual (1.2%)
05:00 China Industrial Production (YoY) above forecasts (5.6%) in March: Actual (7.7%)
China Industrial Production (YoY) above forecasts (5.6%) in March: Actual (7.7%)
05:00 China Fixed Asset Investment (YTD) (YoY) came in at 4.2%, above forecasts (4.1%) in March
China Fixed Asset Investment (YTD) (YoY) came in at 4.2%, above forecasts (4.1%) in March
05:00 China Gross Domestic Product (YoY) came in at 5.4%, above expectations (5.1%) in 1Q
China Gross Domestic Product (YoY) came in at 5.4%, above expectations (5.1%) in 1Q
04:31 China House Price Index increased to -4.6% in March from previous -4.9%
China House Price Index increased to -4.6% in March from previous -4.9%
04:22 WTI drifts lower below $61.00 amid uncertainty on Trump trade war
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $60.80 during the early Asian session on Wednesday. The WTI price remains on the defensive as traders continue to assess the latest headlines on US President Donald Trump's tariff.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}WTI price edges lower to near $60.80 in Wednesday’s early Asian session. OPEC cut its oil demand growth forecast for this year and next year as Trump’s tariffs weigh on global economic growth.Crude oil stockpiles in the US rose by 2.4 million barrels last week, according to the API. West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $60.80 during the early Asian session on Wednesday. The WTI price remains on the defensive as traders continue to assess the latest headlines on US President Donald Trump's tariff. The Organization of the Petroleum Exporting Countries (OPEC) lowered its demand forecast on Monday due to the uncertainty caused by the United States' erratic trade policy. The International Energy Agency (IEA) followed on Tuesday with its projection that global oil demand in 2025 will grow at its slowest pace for five years due to concerns about economic growth brought on by Trump's trade tariffs. Since Trump unveiled his sweeping tariff measures on April 2, the WTI price has dropped more than 14%. The agreement by OPEC+ to increase output beginning in May contributes to the WTI’s downside. The OPEC+ group has agreed to accelerate oil production starting in May even as OPEC sees slightly lower demand for crude and softer economic growth.The American Petroleum Institute (API) weekly report showed crude oil stockpiles in the US for the week ending April 11 rose by 2.4 million barrels, compared to a decline of 1.057 million barrels in the previous week. The market consensus estimated that stocks would fall by 1.68 million barrels. So far this year, crude oil inventories have climbed more than 24 million barrels, according to the API data. WTI Oil FAQs What is WTI Oil? WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. What factors drive the price of WTI Oil? Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa. How does inventory data impact the price of WTI Oil The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency. How does OPEC influence the price of WTI Oil? OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
04:21 Australia Westpac Leading Index (MoM) down to -0.1% in March from previous 0.06%
Australia Westpac Leading Index (MoM) down to -0.1% in March from previous 0.06%
04:16 Breaking: Gold price hits an all-time high near $3,175
The Gold price (XAU/USD) extends the rally and reached a record high near $3,175 per troy ounce during the early Asian session on Wednesday.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
The Gold price (XAU/USD) extends the rally and reached a record high near $3,175 per troy ounce during the early Asian session on Wednesday. Safe-haven demand amid US President Donald Trump's uncertain tariff plans, softer US Dollar (USD) and prospects of further easing by the Federal Reserve (Fed) provide some support to the yellow metal. Gold price (XAU/USD) 15-min chart Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
04:16 PBOC sets USD/CNY reference rate at 7.2133 vs. 7.2096 previous
On Wednesday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.2133 as compared to the previous day's fix of 7.2096 and 7.3272 Reuters estimate.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
On Wednesday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.2133 as compared to the previous day's fix of 7.2096 and 7.3272 Reuters estimate. PBOC FAQs What does the People's Bank of China do? The primary monetary policy objectives of the People's Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, and promote economic growth. China’s central bank also aims to implement financial reforms, such as opening and developing the financial market. Who owns the PBoC? The PBoC is owned by the state of the People's Republic of China (PRC), so it is not considered an autonomous institution. The Chinese Communist Party (CCP) Committee Secretary, nominated by the Chairman of the State Council, has a key influence on the PBoC’s management and direction, not the governor. However, Mr. Pan Gongsheng currently holds both of these posts. What are the main policy tools used by the PBoC? Unlike the Western economies, the PBoC uses a broader set of monetary policy instruments to achieve its objectives. The primary tools include a seven-day Reverse Repo Rate (RRR), Medium-term Lending Facility (MLF), foreign exchange interventions and Reserve Requirement Ratio (RRR). However, The Loan Prime Rate (LPR) is China’s benchmark interest rate. Changes to the LPR directly influence the rates that need to be paid in the market for loans and mortgages and the interest paid on savings. By changing the LPR, China’s central bank can also influence the exchange rates of the Chinese Renminbi. Are private banks allowed in China? Yes, China has 19 private banks – a small fraction of the financial system. The largest private banks are digital lenders WeBank and MYbank, which are backed by tech giants Tencent and Ant Group, per The Straits Times. In 2014, China allowed domestic lenders fully capitalized by private funds to operate in the state-dominated financial sector.
03:26 USD/CAD flat lines near 1.3950, BoC rate decision in the spotlight
The USD/CAD pair holds steady near 1.3955 during the early Asian session on Wednesday. The upside for the Canadian Dollar (CAD) might be limited amid the dovish expectations from the Bank of Canada (BoC).
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}USD/CAD trades flat around 1.3955 in Wednesday’s early Asian session. The BoC is expected to hold interest rates steady on Wednesday. Trump said the auto industry could get exemptions from tariffs. The USD/CAD pair holds steady near 1.3955 during the early Asian session on Wednesday. The upside for the Canadian Dollar (CAD) might be limited amid the dovish expectations from the Bank of Canada (BoC). The BoC interest rate decision will take center stage later on Wednesday, with no change in rates expected. Cooler-than-expected Canadian inflation data supported bets for additional interest rate cuts by the BoC this year, which might drag the CAD lower against the Greenback. Data released by Statistics Canada on Tuesday showed that the country’s Consumer Price Index (CPI) inflation eased to 2.3% in March from 2.6% in February. This figure came in softer than the estimation of 2.6%. On a monthly basis, the CPI rose 0.3% in March, compared to 1.1% prior and 0.7% expected. Investors saw a 57% chance that the BoC would pause its interest rate-cutting cycle at its April meeting on Wednesday but expected the BoC to resume easing in June and were pricing in two additional reductions in total by the end of 2025, according to a Reuters poll. The BoC's benchmark interest rate is currently at 2.75%.US President Donald Trump on Monday said he was considering a modification to the 25% tariffs imposed on foreign auto and auto parts imports from Mexico, Canada and other nations. Trump's move to exempt crucial technology products from reciprocal tariffs and reports of a potential pause in his auto import levies eased concerns of imminent recession risks in the US. This, in turn, could provide some support to the US Dollar (USD) in the near term. Bank of Canada FAQs What is the Bank of Canada and how does it influence the Canadian Dollar? The Bank of Canada (BoC), based in Ottawa, is the institution that sets interest rates and manages monetary policy for Canada. It does so at eight scheduled meetings a year and ad hoc emergency meetings that are held as required. The BoC primary mandate is to maintain price stability, which means keeping inflation at between 1-3%. Its main tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will usually result in a stronger Canadian Dollar (CAD) and vice versa. Other tools used include quantitative easing and tightening. What is Quantitative Easing (QE) and how does it affect the Canadian Dollar? In extreme situations, the Bank of Canada can enact a policy tool called Quantitative Easing. QE is the process by which the BoC prints Canadian Dollars for the purpose of buying assets – usually government or corporate bonds – from financial institutions. QE usually results in a weaker CAD. QE is a last resort when simply lowering interest rates is unlikely to achieve the objective of price stability. The Bank of Canada used the measure during the Great Financial Crisis of 2009-11 when credit froze after banks lost faith in each other’s ability to repay debts. What is Quantitative tightening (QT) and how does it affect the Canadian Dollar? Quantitative tightening (QT) is the reverse of QE. It is undertaken after QE when an economic recovery is underway and inflation starts rising. Whilst in QE the Bank of Canada purchases government and corporate bonds from financial institutions to provide them with liquidity, in QT the BoC stops buying more assets, and stops reinvesting the principal maturing on the bonds it already holds. It is usually positive (or bullish) for the Canadian Dollar.
02:50 Japan Machinery Orders (YoY) came in at 1.5%, above forecasts (-1.4%) in February
Japan Machinery Orders (YoY) came in at 1.5%, above forecasts (-1.4%) in February
02:50 Japan Machinery Orders (MoM) registered at 4.3% above expectations (1.1%) in February
Japan Machinery Orders (MoM) registered at 4.3% above expectations (1.1%) in February
02:39 US plans to use tariff negotiations to isolate China - WSJ
According to the Wall Street Journal, which cited individuals familiar with the discussions, the US President Donald Trump administration plans to use ongoing tariff negotiations to pressure US trading partners to limit their dealings with China
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
According to the Wall Street Journal, which cited individuals familiar with the discussions, the US President Donald Trump administration plans to use ongoing tariff negotiations to pressure US trading partners to limit their dealings with ChinaThe report added that the Trump administration wants to use negotiations with more than 70 nations to ask them to disallow China from shipping products via their country and prohibit Chinese companies from establishing themselves there to evade US tariffs.Market reactionAt the time of press, the US Dollar Index was down 0.12% on the day at 100.05. US-China Trade War FAQs What does “trade war” mean? Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living. What is the US-China trade war? An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China’s economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies. Trade war 2.0 The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60% tariffs on China once he returned to office, which he did on January 20, 2025. With Trump back, the US-China trade war is meant to resume where it was left, with tit-for-tat policies affecting the global economic landscape amid disruptions in global supply chains, resulting in a reduction in spending, particularly investment, and directly feeding into the Consumer Price Index inflation.
02:28 Gold price soars past $3,240 as trade war fears deepen, yields slide
Gold price ended Tuesday’s session on a higher note due to traders buying the precious metals amid uncertainty over US President Donald Trump's tariff plans, which has kept market participants on edge. The XAU/USD trades at $3,240 a troy ounce, gaining over 6.50%.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}Gold rallies sharply as safe-haven demand surges on US-China tensions and collapsing Treasury yields.Trump’s tariff threat on pharmaceuticals and China’s Boeing ban add fuel to market volatility.Mixed US data adds to uncertainty; traders now focus on Retail Sales and Powell’s Wednesday speech.Gold price ended Tuesday’s session on a higher note due to traders buying the precious metals amid uncertainty over US President Donald Trump's tariff plans, which has kept market participants on edge. The XAU/USD trades at $3,240 a troy ounce, gaining over 6.50%.The precious metal rose sharply towards the end of Tuesday’s New York session as US Treasury bond yields continued to drop for the second straight day. Fears that US President Trump would begin to impose tariffs on pharmaceuticals deteriorated the market mood.Remaining in the trade-war space, China ordered its domestic airlines to halt deliveries of Boeing jets, adding to the sour mood of market participants.US data was mixed, with import prices remaining muted. The New York Fed Manufacturing headline fared better than forecasted, as did some of the internals. Nevertheless, prices paid rose into expansionary territory, and the six-month outlook deteriorated.This week, Gold traders will watch Retail Sales for March alongside Fed speakers crossing the wires, mainly Fed Chair Jerome Powell, on Wednesday. Investors await housing data and Initial Jobless Claims for the rest of the week.Daily digest market movers: Gold price rallies, as US real yields dropThe US 10-year Treasury yield tumbled four and a half basis points to 4.339%. US real yields fall three and a half bps to 2.149%, as shown by the US 10-year Treasury Inflation-Protected Securities yields failing to cap Gold prices.The NY Empire State Manufacturing Index improved to -8.1 in April 2025 from -20 in March, the lowest price since May 2023, compared to forecasts of -14.5. Despite this, the reading hinted that business activity declined while input prices increased.March Retail Sales are expected to rise from 0.6% to 1.3% MoM on Wednesday. However, the so-called control group used for calculations of the Gross Domestic Product (GDP) is expected to drop from 1% to 0.6%, implying that households are beginning to cut expenses amid an economic downturn.Later, Industrial Production for the same period is forecast to shrink by 0.2% MoM, below February’s 0.7% expansion. This could halt a series of positive readings after three straight months of contractions witnessed from September to November 2024.Money market players had priced in 85 bps of easing toward the end of 2025. The first cut is expected in July.XAU/USD technical outlook: Gold price remains bullis near $3,240 posied to reach new record highGold price uptrend remains intact with buyers eyeing the $3,250 mark. A breach of the current all-time high (ATH) of $3,245 could pave the way toward the latter. If those two ceiling levels are cleared, the next stop would be $3,300.Conversely, if XAU/USD drops below $3,200, the first support would be the April 10 high of $3,176. Once cleared, the next stop would be the $3,100 mark. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
02:21 EUR/USD gains ground above 1.1250 ahead of US Retail Sales release
The EUR/USD pair trades in positive territory around 1.1285 during the early Asian session on Wednesday. The US Dollar (USD) currently trades near a three-year low against the Euro (EUR) as trade tensions remain well in place.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}EUR/USD remains firm near 1.1285 in Wednesday’s early Asian session. Fed’s Waller said if the impact of tariffs threatens a deep economic slowdown, then he would back a sooner rate cut. The ECB is expected to cut interest rates by 25 bps on Thursday.The EUR/USD pair trades in positive territory around 1.1285 during the early Asian session on Wednesday. The US Dollar (USD) currently trades near a three-year low against the Euro (EUR) as trade tensions remain well in place. Traders brace for the US Retail Sales report and the speech of Federal Reserve (Fed) Chair Jerome Powell on Wednesday.Fed Governor Christopher Waller said on Monday that the Trump administration's tariff policies were a major shock to the US economy that could lead the central bank to cut rates to head off recession even if inflation remained high. Meanwhile, Atlanta Fed Bank President Raphael Bostic suggested that the Fed bank should stay on hold until there is more clarity.According to the CME FedWatch tool, the markets are now pricing in nearly 85 basis points (bps) worth of monetary policy easing by the end of the year, with most expecting the Fed to hold rates next month.Across the pond, the European Central Bank (ECB) is widely anticipated to cut interest rates by 25 bps on Thursday amid growing recession concerns tied to US tariffs. Hadrien Camatte, senior economist at Natixis, said the ECB may cut all three key interest rates at its April meeting on Thursday. The ECB lowered interest rates for the second consecutive time in March, bringing the deposit rate down to 2.5%. A further reduction would see the rate reduced to 2.25%. Euro FAQs What is the Euro? The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.
EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%). What is the ECB and how does it impact the Euro? The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy.
The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa.
The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. How does inflation data impact the value of the Euro? Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control.
Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money. How does economic data influence the value of the Euro? Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency.
A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall.
Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy. How does the Trade Balance impact the Euro? Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
01:55 US President Donald Trump launches a probe into the need for tariffs on critical minerals
US President Donald Trump launched a probe into the need for tariffs on critical minerals, the latest move in an escalating trade war that has targeted key sectors of the global economy, per Bloomberg.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
US President Donald Trump launched a probe into the need for tariffs on critical minerals, the latest move in an escalating trade war that has targeted key sectors of the global economy, per Bloomberg.The order, signed by Trump on Tuesday, calls for the Commerce secretary to initiate a Section 232 investigation under the Trade Expansion Act of 1962 to “evaluate the impact of imports of these materials on America’s security and resilience,” according to a White House fact sheet.If the secretary concludes that imports of critical minerals may “impair national security and the President decides to impose tariffs,” they would replace Trump's reciprocal taxes on US trade partners this month.Market reactionAt the time of press, the US Dollar Index was down 0.12% on the day at 100.05. Tariffs FAQs What are tariffs? Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas. What is the difference between taxes and tariffs? Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers. Are tariffs good or bad? There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs. What is US President Donald Trump’s tariff plan? During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.
01:43 BoJ’s Ueda says central bank may need to respond if US tariffs hurt economy
Bank of Japan Governor Kazuo Ueda said early Wednesday that the central bank may need to take policy action if US tariffs hurt the economy, per Reuters.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
Bank of Japan Governor Kazuo Ueda said early Wednesday that the central bank may need to take policy action if US tariffs hurt the economy, per Reuters. Key quotesMay need policy response but will decide appropriately in line with changing developments, when asked about BOJ response if U.S. tariff policy puts downward pressure on Japan’s economy.
Will scrutinise without any pre-conception impact of U.S. tariff policy on Japan’s economy, as is already affecting corporate, household confidence.
From February onwards, risks surrounding U.S. tariff policy have moved closer towards ‘bad’ scenario BOJ envisioned.
Expect domestic food inflation to moderate, real wages to stablise in positive territory from middle of this year.
See both upside, downside risks to price outlook.Market reactionAt the time of writing, the USD/JPY pair is trading 0.17% lower on the day to trade at 143.00. Bank of Japan FAQs What is the Bank of Japan? The Bank of Japan (BoJ) is the Japanese central bank, which sets monetary policy in the country. Its mandate is to issue banknotes and carry out currency and monetary control to ensure price stability, which means an inflation target of around 2%. What has been the Bank of Japan’s policy? The Bank of Japan embarked in an ultra-loose monetary policy in 2013 in order to stimulate the economy and fuel inflation amid a low-inflationary environment. The bank’s policy is based on Quantitative and Qualitative Easing (QQE), or printing notes to buy assets such as government or corporate bonds to provide liquidity. In 2016, the bank doubled down on its strategy and further loosened policy by first introducing negative interest rates and then directly controlling the yield of its 10-year government bonds. In March 2024, the BoJ lifted interest rates, effectively retreating from the ultra-loose monetary policy stance. How do Bank of Japan’s decisions influence the Japanese Yen? The Bank’s massive stimulus caused the Yen to depreciate against its main currency peers. This process exacerbated in 2022 and 2023 due to an increasing policy divergence between the Bank of Japan and other main central banks, which opted to increase interest rates sharply to fight decades-high levels of inflation. The BoJ’s policy led to a widening differential with other currencies, dragging down the value of the Yen. This trend partly reversed in 2024, when the BoJ decided to abandon its ultra-loose policy stance. Why did the Bank of Japan decide to start unwinding its ultra-loose policy? A weaker Yen and the spike in global energy prices led to an increase in Japanese inflation, which exceeded the BoJ’s 2% target. The prospect of rising salaries in the country – a key element fuelling inflation – also contributed to the move.
Will scrutinise without any pre-conception impact of U.S. tariff policy on Japan’s economy, as is already affecting corporate, household confidence.
From February onwards, risks surrounding U.S. tariff policy have moved closer towards ‘bad’ scenario BOJ envisioned.
Expect domestic food inflation to moderate, real wages to stablise in positive territory from middle of this year.
See both upside, downside risks to price outlook.Market reactionAt the time of writing, the USD/JPY pair is trading 0.17% lower on the day to trade at 143.00. Bank of Japan FAQs What is the Bank of Japan? The Bank of Japan (BoJ) is the Japanese central bank, which sets monetary policy in the country. Its mandate is to issue banknotes and carry out currency and monetary control to ensure price stability, which means an inflation target of around 2%. What has been the Bank of Japan’s policy? The Bank of Japan embarked in an ultra-loose monetary policy in 2013 in order to stimulate the economy and fuel inflation amid a low-inflationary environment. The bank’s policy is based on Quantitative and Qualitative Easing (QQE), or printing notes to buy assets such as government or corporate bonds to provide liquidity. In 2016, the bank doubled down on its strategy and further loosened policy by first introducing negative interest rates and then directly controlling the yield of its 10-year government bonds. In March 2024, the BoJ lifted interest rates, effectively retreating from the ultra-loose monetary policy stance. How do Bank of Japan’s decisions influence the Japanese Yen? The Bank’s massive stimulus caused the Yen to depreciate against its main currency peers. This process exacerbated in 2022 and 2023 due to an increasing policy divergence between the Bank of Japan and other main central banks, which opted to increase interest rates sharply to fight decades-high levels of inflation. The BoJ’s policy led to a widening differential with other currencies, dragging down the value of the Yen. This trend partly reversed in 2024, when the BoJ decided to abandon its ultra-loose policy stance. Why did the Bank of Japan decide to start unwinding its ultra-loose policy? A weaker Yen and the spike in global energy prices led to an increase in Japanese inflation, which exceeded the BoJ’s 2% target. The prospect of rising salaries in the country – a key element fuelling inflation – also contributed to the move.
00:55 AUD/JPY Price Analysis: Aussie yen edges higher but technical bias remains bearish
The AUD/JPY pair advanced on Tuesday, rising toward the upper end of its daily range and hovering near the 90.90 area ahead of the Asian session.
AUD/JPY trades near the 90.90 zone after modest gains during Tuesday’s sessionDespite intraday strength, indicators and moving averages reinforce a bearish outlookKey resistance stands near 91.40, with support seen around the 90.80 regionThe AUD/JPY pair advanced on Tuesday, rising toward the upper end of its daily range and hovering near the 90.90 area ahead of the Asian session. The cross posted modest intraday gains, though the broader technical structure still points south as moving averages and trend signals maintain a bearish stance.The Relative Strength Index (RSI) is currently at 44.316, suggesting neutral momentum. However, the Moving Average Convergence Divergence (MACD) is issuing a sell signal, in line with the prevailing bearish bias. The 10-period Momentum indicator at −2.989 suggests potential for a short-term bounce, although this is countered by a neutral Bull Bear Power reading of −0.430.Price action remains pressured by multiple key moving averages. The 20-day (92.328), 100-day (95.660), and 200-day (97.724) Simple Moving Averages are all sloping downward. Similarly, the 30-day Exponential Moving Average at 92.458 and the 30-day SMA at 92.812 align with this view, confirming sustained downside pressure despite recent gains.
Daily chart
Daily chart
00:28 Mexican Peso slips as USD/MXN reclaims 20 despite tariff exemption hopes
The Mexican Peso reversed its course and dropped against the US Dollar late in the North American session, with no catalyst behind the latter move as market participants digest Trump’s tariff rhetoric, which of late hinted at making exemptions on semiconductors and electronics.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}Mexican Peso pares gains late in session as traders digest Trump’s shifting tariff stance and looming US tomato duties.Sheinbaum continues talks to avoid steep tariffs; US to impose 20.91% duty on Mexican tomatoes from July 14.Traders eye Mexico’s inflation and retail data, while US Retail Sales and Jobless Claims remain iThe Mexican Peso reversed its course and dropped against the US Dollar late in the North American session, with no catalyst behind the latter move as market participants digest Trump’s tariff rhetoric, which of late hinted at making exemptions on semiconductors and electronics. At the time of writing, the USD/MXN climbs back above the 20.00 figure and gains over 0.12%.Mexico’s President Claudia Sheinbaum continued negotiating with her US counterpart to avoid Trump's higher tariffs. At the same time, the US Commerce Department announced that tomatoes imported from Mexico to the US would be subject to 20.91% tariffs from July 14.Meanwhile, Reuters revealed that a report suggested Japan’s Honda is considering relocating some car production to the US to avoid tariffs.Across the border, the economic docket revealed that US import prices fell in March due to decreasing energy prices, as the US Labor Department showed on Tuesday. According to analysts quoted by Reuters, the effects of tariffs have not been felt.Ahead in the docket, Mexico will feature Retail Sales, mid-month inflation for April, and Economic Activity for February. In the US, Retail Sales would also be featured on Wednesday, followed by housing and Initial Jobless Claims data.Daily digest market movers: Mexican Peso hurt by tariffs, retreatsMexico’s Retail Sales in January were 0.6% MoM and 2.7% YoY. If Wednesday’s data falls below those figures, it would be another signal that the economy is slowing down, as Banco de Mexico (Banxico) Governor Victoria Rodriguez Ceja mentioned.Before the Senate, Victoria Rodriguez Ceja said the Governing Board is still unsatisfied with the inflation rate, which stood at 3.8% YoY in March, though far from the 3% target. She added that the disinflation process and the economic slowdown justify Banxico’s dovish approach and hinted that the central bank might continue easing policy.This would keep the USD/MXN underpinned as the interest rate differential between Mexico and the United States will reduce. For the upcoming meetings, Banxico is expected to lower rates by 50 basis points (bps) while the Federal Reserve (Fed) hinted they will keep rates unchanged.Money market players had priced in 85 bps of easing toward the end of 2025. The first cut is expected in July.US Retail Sales in March are expected to rise 1.3% Month over Month, up from 0.2% in February. Meanwhile, Industrial Production is projected to contract by 0.2% Month over Month, down from 0.7% expansion for the same period.USD/MXN technical outlook: Mexican Peso depreciates as USD/MXN surpasses 20.00The USD/MXN uptrend stays alive, yet the exotic pair fell briefly below 20.00, near the 200-day Simple Moving Average (SMA) at 19.86. However, it seems poised to close the day above 20.00, paving the way for buyers to push prices higher.If buyers drive the exotic pair past April 14's high of 20.29, the next resistance would be the confluence of the 50-day and 100-day Simple Moving Averages (SMAs) near 20.30 /36, followed by the 20.50 figure. Once hurdle, the next stop would be the April 9 daily peak of 21.07. Conversely, if USD/MXN tumbles below 20.00, look for a test of the 200-day SMA at 19.86. Mexican Peso FAQs What key factors drive the Mexican Peso? The Mexican Peso (MXN) is the most traded currency among its Latin American peers. Its value is broadly determined by the performance of the Mexican economy, the country’s central bank’s policy, the amount of foreign investment in the country and even the levels of remittances sent by Mexicans who live abroad, particularly in the United States. Geopolitical trends can also move MXN: for example, the process of nearshoring – or the decision by some firms to relocate manufacturing capacity and supply chains closer to their home countries – is also seen as a catalyst for the Mexican currency as the country is considered a key manufacturing hub in the American continent. Another catalyst for MXN is Oil prices as Mexico is a key exporter of the commodity. How do decisions of the Banxico impact the Mexican Peso? The main objective of Mexico’s central bank, also known as Banxico, is to maintain inflation at low and stable levels (at or close to its target of 3%, the midpoint in a tolerance band of between 2% and 4%). To this end, the bank sets an appropriate level of interest rates. When inflation is too high, Banxico will attempt to tame it by raising interest rates, making it more expensive for households and businesses to borrow money, thus cooling demand and the overall economy. Higher interest rates are generally positive for the Mexican Peso (MXN) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken MXN. How does economic data influence the value of the Mexican Peso? Macroeconomic data releases are key to assess the state of the economy and can have an impact on the Mexican Peso (MXN) valuation. A strong Mexican economy, based on high economic growth, low unemployment and high confidence is good for MXN. Not only does it attract more foreign investment but it may encourage the Bank of Mexico (Banxico) to increase interest rates, particularly if this strength comes together with elevated inflation. However, if economic data is weak, MXN is likely to depreciate. How does broader risk sentiment impact the Mexican Peso? As an emerging-market currency, the Mexican Peso (MXN) tends to strive during risk-on periods, or when investors perceive that broader market risks are low and thus are eager to engage with investments that carry a higher risk. Conversely, MXN tends to weaken at times of market turbulence or economic uncertainty as investors tend to sell higher-risk assets and flee to the more-stable safe havens.
00:10 NZD/USD Price Analysis: Kiwi holds near 0.5900 amid sustained bullish signals
The NZD/USD pair moved higher on Tuesday, seen trading near the 0.59 area ahead of the Asian session. The Kiwi continues to benefit from sustained buying interest, holding mid-range between the day’s lows and highs, and showing resilience despite broadly neutral oscillators.
NZD/USD trades near the 0.59 zone after gaining ground during Tuesday’s sessionTechnical outlook remains bullish, with key moving averages pointing northSupport aligns near 0.5890, with resistance seen at the 0.5910–0.5920 region
The NZD/USD pair moved higher on Tuesday, seen trading near the 0.59 area ahead of the Asian session. The Kiwi continues to benefit from sustained buying interest, holding mid-range between the day’s lows and highs, and showing resilience despite broadly neutral oscillators.From a technical perspective, the momentum bias leans bullish. The Relative Strength Index (RSI) stands at 63.91, still in neutral territory but comfortably above the midline and mildly rising. The Moving Average Convergence Divergence (MACD) prints a green histogram bar, signaling continued bullish momentum. However, some oscillators like the Stochastic RSI Fast (100.00) and Bull Bear Power (0.03077) remain neutral, suggesting the pair may be pausing after recent gains.Further strengthening the positive tone are the moving averages. The 10-day Exponential Moving Average at 0.57612 and 10-day Simple Moving Average at 0.57198 both signal buy. The broader trend is reinforced by the 20-day (0.57265), 100-day (0.57076), and 200-day (0.58908) Simple Moving Averages, which are all aligned to the upside and continue to offer support on dips.Looking ahead, support rests at 0.58908, followed by 0.58413 and 0.57612. Resistance is seen at 0.59128, with a breakout above this level potentially paving the way for further gains toward the 0.5950–0.6000 region.
Daily chart
The NZD/USD pair moved higher on Tuesday, seen trading near the 0.59 area ahead of the Asian session. The Kiwi continues to benefit from sustained buying interest, holding mid-range between the day’s lows and highs, and showing resilience despite broadly neutral oscillators.From a technical perspective, the momentum bias leans bullish. The Relative Strength Index (RSI) stands at 63.91, still in neutral territory but comfortably above the midline and mildly rising. The Moving Average Convergence Divergence (MACD) prints a green histogram bar, signaling continued bullish momentum. However, some oscillators like the Stochastic RSI Fast (100.00) and Bull Bear Power (0.03077) remain neutral, suggesting the pair may be pausing after recent gains.Further strengthening the positive tone are the moving averages. The 10-day Exponential Moving Average at 0.57612 and 10-day Simple Moving Average at 0.57198 both signal buy. The broader trend is reinforced by the 20-day (0.57265), 100-day (0.57076), and 200-day (0.58908) Simple Moving Averages, which are all aligned to the upside and continue to offer support on dips.Looking ahead, support rests at 0.58908, followed by 0.58413 and 0.57612. Resistance is seen at 0.59128, with a breakout above this level potentially paving the way for further gains toward the 0.5950–0.6000 region.
Daily chart
00:00 South Korea Import Price Growth (YoY) declined to 3.4% in March from previous 4.6%
South Korea Import Price Growth (YoY) declined to 3.4% in March from previous 4.6%
00:00 South Korea Export Price Growth (YoY) remains at 6.3% in March
South Korea Export Price Growth (YoY) remains at 6.3% in March
การเตือนความเสี่ยง: การเทรดมีความเสี่ยง เงินทุนของคุณมีความเสี่ยง Exinity Limited มีการกำกับดูแลโดย FSC (มอริเชียส)
การเตือนความเสี่ยง: การเทรดมีความเสี่ยง เงินทุนของคุณมีความเสี่ยง Exinity Limited มีการกำกับดูแลโดย FSC (มอริเชียส)
ขอต้อนรับเข้าสู่การสนับสนุนแบบไลฟ์ของ FXTM
โปรดเลือกวิธีการที่คุณต้องการให้ติดต่อ
| 1 | ติดตั้งแอพฯ WhatsApp |
| 2 | |
| 3 | เริ่มแชทได้เลย! |
| 1 | เพิ่มหมายเลขต่อไปนี้ของ FXTM ลงในรายชื่อผู้ติดต่อของคุณ: Like and follow FXTM on Facebook. |
| 2 | |
| 3 | Find FXTM by searching on the top search bar. |
| 4 | |
| 5 | เริ่มแชทได้เลย! |
| 1 | ติดตั้งแอพฯ Telegram |
| 2 | |
| 3 | เริ่มแชทได้เลย! |
หากคุณต้องการติดต่อทีมงานฝ่ายสนับสนุนลูกค้าของเราในช่วงวันหยุดสุดสัปดาห์ พวกเขาพร้อมให้บริการทางไลฟ์แชท, Viber, Telegram และ Facebook Messenger ในวันเสาร์ตั้งแต่เวลา 11:00 ถึง 16:00 และในวันอาทิตย์ตั้งแต่เวลา 12:00 ถึง 20:00 เวลาทั้งหมดเป็นเวลา GMT+2 (GMT+3 ในช่วง DST)
 | |
สแกน QR Code นี้เพื่อเอาไว้ติดต่อเรา! ! | |
| 1 | ดาวน์โหลดและเปิดบัญชี WeChat |
| 2 | เลือก "เพิ่มรายชื่อผู้ติดต่อ" |
| 3 | เลือก "สแกน QR Code" |
| 4 | สแกนโค้ดนี้เพื่อเอาไว้ติดต่อเรา! |