Trading news

US President Donald Trump said on Wednesday that the US knocked out Iran's navy and leaders. Trump added that the International Energy Agency (IEA) decision to release oil from reserves will substantially reduce oil prices.

Naval drones have been used in at least two attacks on oil tankers in the Gulf region since war erupted between the United States (US), Israel and Iran, suggesting ‌a dangerous new threat in the key shipping lane, Reuters reported on Wednesday.

RaboResearch highlights that US rare earths inventories may cover only about two months after depletion from the Iran conflict, potentially giving China significant leverage.

The EUR/USD tumbles for the second straight day after clashing with the 200-day Simple Moving Average (SMA) at 1.1672 on Tuesday, due to overall US Dollar strength.

New Zealand Manufacturing Sales declined to -0.5% in 4Q from previous 1.1%

Commerzbank’s Moses Lim notes that higher Oil prices and heavy reliance on Middle Eastern crude have kept KRW volatile, with USD/KRW trading between 1,420 and 1,500 and the won down year-to-date.

The AUD/NZD cross is trading near the 1.2100 price region on Wednesday, touching its highest level in 13 years amid market chaos due to the Middle East war between Israel, the US and Iran.

The Australian Dollar extends its gains on Wednesday amid growing speculation that the Reserve Bank of Australia (RBA) will raise rates at next week’s meeting. At the time of writing, the AUD/USD trades at 0.7152, up 0.47%.

The conflict between the United States (US), Israel and Iran continues apace after Iran's military commented that the world should be prepared for Oil to hit $200 a barrel. Iran has kept the Strait of Hormuz closed and attacked three vessels near it on Wednesday.

ABN AMRO analysts argue China is exposed to Iran-related Oil and LNG disruptions but cushioned by large reserves, diversified imports and rising renewables.

USD/CHF posted back-to-back bullish days on Wednesday, rising by over 0.25% after the latest US inflation report and as high energy prices pushed US Treasury yields higher, consequently the US Dollar. At the time of writing, the pair trades near 0.7800.

Tatha Ghose at Commerzbank highlights rising political uncertainty in Poland, including potential vetoes of defence-related EU funding legislation and a hard-right opposition candidate for 2027.

Gold (XAU/USD) prices edge lower on Wednesday amid broad US Dollar (USD) strength following the release of US inflation data, which maintained the status quo.

The Euro (EUR) edges lower against the US Dollar (USD) on Wednesday as the Greenback remains well supported amid cautious market sentiment driven by the ongoing US-Iran war.

ABN AMRO economists see the Dutch economy broadly mirroring Eurozone dynamics under Iran conflict scenarios, with transmission mainly via higher inflation rather than deep growth damage.

The USD/CAD pair is trading near the 1.3580 level, regaining its footing in Wednesday's American session after the International Energy Agency (IEA) agreed to release 400 million barrels of oil to address the supply disruption from the Iran war.

Silver (XAG/USD) trades lower on Wednesday, hovering around $85.30 at the time of writing, down 2.12% on the day. The precious metal struggles to extend its recent gains as a rebound in the US Dollar (USD) and higher US Treasury yields weigh on demand for non-yielding assets.

United States 10-Year Note Auction increased to 4.217% from previous 4.177%

Standard Chartered’s Bader Al Sarraf now expects the Central Bank of Egypt to keep policy rates at 19% through FY26, postponing earlier plans for near-term easing. The bank still forecasts a 13% policy rate by end-2026, assuming conditions stabilise.

USD/JPY extends gains on Wednesday as the Japanese Yen (JPY) remains under pressure amid concerns over Oil supply disruptions linked to the US-Iran war, as Japan relies heavily on imported energy, particularly from the Middle East.