EUR/USD
The EUR/USD pair attracts some sellers to around 1.1355 during the early Asian session on Wednesday, pressured by the renewed US Dollar (USD) demand. The Greenback recovers after US President Donald Trump said he had no intention of firing Federal Reserve (Fed) Chair Jerome Powell despite his frustration with the central bank not moving more quickly to slash interest rates.
GBP/USD
The GBP/USD pair remains weak near 1.3280 during the early Asian session on Wednesday. Comments by US Treasury Secretary Scott Bessent hint at a thaw in US-China trade tensions, fueling optimism in markets and strengthening the US Dollar (USD) against the Pound Sterling (GBP).
USD/JPY
USD/JPY has picked up fresh bids to regain 142.00, reversing the dip to near 141.50 in the Asian session on Wednesday. Signs of easing US-China trade tensions led to a sharp recovery in the risk sentiment, lifting the US Dollar broadly despite doubts over Trump’s veracity.
AUD/USD
AUD/USD attracts some dip-buyers to hold near 0.6400 in the Asian session on Wednesday. Hopes for a possible de-escalation in the US-China trade war boost investors’ appetite for riskier assets and support the Aussie. Further, the pause in the US Dollar rebound also aids the pair’s upside.
NZD/USD
The NZD/USD pair gathers strength to around 0.5980 during the Asian trading hours on Wednesday. The New Zealand Dollar (NZD) has risen to its highest level since early November 2024 against the US Dollar (USD) after the optimistic comments from the US Treasury Secretary Scott Bessent. Traders will take more cues from the flash US S&P Global Manufacturing and Services PMIs for April, which will be published later on Wednesday.
USD/CAD
USD/CAD edges higher, rebounding from two consecutive sessions of losses, and is trading near 1.3830 during Asian hours on Wednesday. The US Dollar (USD) found support following remarks by US Treasury Secretary Scott Bessent, who called the ongoing tariff dispute “unsustainable,” hinting at potential de-escalation.
USD/CHF
The USD/CHF makes a U-turn and trade with gains of over 1% on Tuesday as market mood improved on trade headlines and a possible de-escalation of US-Sino conflict tensions. At the time of writing, the pair trades at 0.8181 after hitting a daily low of 0.8065.
CRUDE OIL
Oil prices extended gains in Asian trading on Wednesday as the U.S. imposed fresh sanctions on Iran amid ongoing nuclear talks, while investors assessed a weekly report showing a large decline in U.S. crude stockpiles.
Gold price is heading back toward $3,400, stalling Tuesday’s correction from the $3,500 mark, The US Dollar recovery fixxles, allowing Gold price to regain footing as investors remain wary about US President Trump’s intentions. Trump said on Tuesday that he hopes for US-China trade war de-escalation and doesnt intend to fire Fed’s Powell.
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