UOB’s Ho Woei Chen highlights that China’s March data showed a sharp divergence between exports and imports, narrowing the trade surplus to a 13‑month low.
ING analysts Muhammet Mercan, Frantisek Taborsky and James Wilson note that the Turkish Lira (TRY) has stabilised after US-Iran tensions eased, with the Central Bank of Turkey (CBT) maintaining market confidence and a steady USD/TRY path.
The AUD/USD surged near the 0.7160 price region on Wednesday, as investors positioned ahead of key Australian labor market data and continued to assess the broader US Dollar (USD) backdrop amid mixed United States (US) macro signals.
West Texas Intermediate (WTI) US Oil trades around $89.10 on Wednesday at the time of writing, remaining broadly stable on the day after earlier falling to a three-week low near $85.
The GBP/USD pair halts its advance on Wednesday and remains steady around 1.3570 as optimism about a resumption of US-Iran talks has tempered. At the same time, US equities extended their gains, and the Greenback seems to have bottomed after hitting a six-week low.
Gold (XAU/USD) holds modest losses on Wednesday even as the US Dollar (USD) remains under broad pressure, while evolving Middle East developments continue to shape broader market sentiment.
EUR/USD regains ground on Wednesday, erasing earlier losses as the US Dollar (USD) continues to weaken, allowing the Euro (EUR) to extend gains for an eighth consecutive day amid improving risk sentiment driven by hopes of renewed US-Iran talks.
Joachim Nagel, President of the Bundesbank and member of the European Central Bank (ECB) spoke in an interview with Bloomberg on Wednesday. He said that questions about the Strait of Hormuz are essential, as we're between the baseline and an adverse scenario.
Rabobank Senior FX Strategist Jane Foley notes that while risk sentiment has improved and the Dollar’s safe-haven bid has faded, the physical Oil market tells a different story.
Silver (XAG/USD) trades with a positive bias on Wednesday but lacks strong upside momentum as traders continue to monitor evolving geopolitical developments in the Middle East. At the time of writing, XAG/USD is trading around $80, hovering near one-month highs.
DBS Group Research economists Radhika Rao and Chua Han Teng assess how ASEAN-6 and India will respond to higher energy prices and renewed inflation pressures.
ING’s Bert Colijn notes that Eurozone industrial production rose just 0.4% in February versus January, leaving output below most of 2025 levels. He highlights that higher energy prices and the Middle East war are set to weigh further on energy‑intensive industry and investment.
Scotiabank strategists Shaun Osborne and Eric Theoret observe the Japanese Yen (JPY) is trading slightly weaker near the middle of its recent range and has underperformed G10 peers during the broader sentiment recovery.
USD/CHF trades around 0.7820 on Wednesday at the time of writing, up 0.04% on the day, but the pair remains close to a one-month low at 0.7790 reached on Tuesday.
MUFG’s Senior Currency Analyst Michael Wan notes that Asian currencies have benefited from a weaker US Dollar (USD) following the Iran conflict, but stresses growing dispersion across the region.
Royal Bank of Canada (RBC) Economist Abbey Xu reports that Canadian cardholder spending strengthened modestly in March, with underlying activity stabilizing even as discretionary goods remained soft.
EUR/GBP remains choppy on Wednesday as markets track Middle East developments, while cautious optimism prevails on expectations that the United States (US) and Iran could reach a deal through renewed negotiations.
ING’s Michiel Tukker notes that the ECB is unlikely to hike in April, but markets still price a 25bp increase by June and at least one more move in 2026.
Beth Hammack, President of the Federal Reserve (Fed) Bank of Cleveland, told CNBC in an interview on Wednesday that the key data to watch out for is how high energy prices get, but most importantly how long they stay high.
Scotiabank strategists Shaun Osborne and Eric Theoret say the Canadian Dollar (CAD) is slightly softer but continues to narrow its undervaluation versus the Dollar, with fair value around 1.3542. They stress that further CAD gains depend on fading USD haven demand.
Brown Brothers Harriman argues that with risk sentiment likely having bottomed on March 30, the Dollar Index should revert to trading primarily on rate differentials.
Standard Chartered revises its Japan macro outlook, cutting 2026 Gross Domestic Product (GDP) growth to 0.7% and raising Consumer Price Index (CPI) inflation to 2.0% on a worsening terms-of-trade shock from higher Oil and a weak Japanese Yen (JPY).
Rabobank Senior FX Strategist Jane Foley discusses EUR/GBP in light of shifting expectations for the European Central Bank (ECB) and Bank of England (BoE). She notes that EUR/GBP has traded with a downside bias recently but sees this fading as spring progresses.
Societe Generale’s Kit Juckes discusses whether the US Dollar’s global dominance is under threat as global imbalances widen and IMF meetings highlight systemic risks.
AUD/USD rises on Wednesday and trades around 0.7140 at the time of writing, up 0.28% on the day. The pair benefits from an improved risk environment after reports suggested that new discussions could take place between the United States (US) and Iran before the two-week ceasefire expires.
ING strategist Michiel Tukker stresses that current Oil volatility is feeding directly into rate expectations for the European Central Bank (ECB), Federal Reserve (Fed) and Bank of England (BoE).
The US Dollar (USD) is posting moderate gains against the Japanese Yen (JPY) on Wednesday, returning to levels past 159.00 to partially reverse the 0.5% depreciation witnessed over the last two days.
DBS Group Research’s Philip Wee notes that the US Dollar (USD) has given back most of its Iran‑war related strength, with the US Dollar Index (DXY) down this month and nearing pre‑conflict levels.
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann keep a mildly positive short-term view on AUD/USD after it climbed to 0.7147. The pair is expected to trade between 0.7100 and 0.7155 intraday, with a possible test of 0.7155 if momentum improves.
United States (US) President Donald Trump said in an interview with Fox Business Network that the war with Iran is very close to an end.
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