Trading news

Gold price (XAU/USD) trades in negative territory around $4,705 during the early Asian session on Thursday. The precious metal edges lower amid a temporary two-week ceasefire between the US and Iran.   

GBP/USD surged more than 1% on Wednesday after the US and Iran agreed to a Pakistan-brokered two-week ceasefire, pushing Cable to a session high close to 1.3485.

United Kingdom RICS Housing Price Balance below forecasts (-18%) in March: Actual (-23%)

USD/JPY fell around 0.66% on Wednesday, retreating from the session high near 160.00 to settle close to 158.50.

AUD/USD gave back a portion of Wednesday's sharp rally, settling around 0.7050 after surging over 1% earlier in the session.

The NZD/USD pair is trading with a cautious tone around the 0.5830 region on Thursday, as the New Zealand Dollar (NZD) regains some traction following shifting geopolitical headlines.

The Australian Dollar extended its gains versus the Japanese Yen, driven by an improvement in risk appetite amid the two-week pause in the Middle East conflict between the US and Iran.

The NZD/USD rallied sharply on Wednesday, boosted by a double whammy. The de-escalation of the Middle East conflict, and hawkish remarks by the RBNZ Governor, Anna Breman, post the bank’s monetary policy meeting.

MUFG’s Senior Currency Analyst Lloyd Chan argues Singapore’s energy system and fiscal strength materially limit near‑term tail risks from Middle East tensions.

The US Dollar Index (DXY) holds firm near 99.10, supported by safe-haven demand late in the American session with expectations that the Federal Reserve (Fed) will remain cautious on easing.

BNP Paribas analysts assess that in the United States (USD), demand remains the main driver of inflation, though its contribution has eased from post‑Covid peaks.

The US Dollar Index (DXY) continued to grind lower during the front half of the US trading session on Wednesday, falling roughly 1% from the prior session's close near 100.00 to tag a low around 98.50 as the US-Iran ceasefire announcement triggered a broad wave of risk-on selling in the US Dollar.

The USD/CHF retreats some 0.85% on Wednesday after failing to clear the April 7 daily high of 0.8010, and as the pair slides beneath the 200-day SMA of 0.7940, as market sentiment gets lifted by a two-week ceasefire in the Middle East conflict.

OCBC strategists Sim Moh Siong and Christopher Wong highlight that USD/INR has dropped sharply as RBI’s targeted regulatory measures curbed speculative positioning and tightened market microstructure.

Silver (XAG/USD) trades with a positive bias on Wednesday, supported by a broadly weaker US Dollar following a two-week ceasefire agreement between the United States and Iran. At the time of writing, XAG/USD is trading around $74.50, up nearly 2% on the day after hitting an intraday high of $77.65.

Gold (XAU/USD) advances on Wednesday, yet trades off a three-week high of $4,857 hit earlier in the day, as falling Oil prices weighed on the US Dollar, which weakened to a four-week low in the US Dollar Index (DXY). At the time of writing, the XAU/USD pair trades at $4,735, up more than 0.70%.

Wells Fargo economists now expect the Federal Reserve (Fed) to delay easing in response to higher Oil prices and stickier inflation.

Scotiabank strategists Shaun Osborne and Eric Theoret highlight that the Japanese Yen (JPY) has gained over 0.7% versus the US Dollar (USD) but still lags other G10 currencies as risk sentiment improves on the ceasefire.

United States 10-Year Note Auction climbed from previous 4.217% to 4.282%

Dow Jones Industrial Average (DJIA) futures surged around 1,200 points on Wednesday, up close to 2.6%, after a last-minute diplomatic breakthrough averted what had been shaping up as a catastrophic escalation of the US-Iran war.