Trading news

EUR/USD remains subdued for the second consecutive day, trading around 1.1740 during the Asian hours on Wednesday. The pair holds little losses as the US Dollar (USD) gains ground on increased market caution amid ongoing uncertainty surrounding the Middle East conflict.

The USD/CAD pair fails to capitalize on the previous day's modest recovery from the 1.3630 region, or its lowest level since March 13, and remains on the back foot during the Asian session on Wednesday.

Gold prices rose in India on Wednesday, according to data compiled by FXStreet.

Netherlands, The Consumer Confidence Adj dipped from previous -30 to -44 in April

The AUD/USD pair trades in positive territory near 0.7160 during the Asian trading hours on Wednesday. However, the potential upside for the pair might be limited amid uncertainty regarding Iran's participation in further peace talks. 

The GBP/JPY cross trades with a positive bias for the third straight day and touches a fresh weekly top, around the 215.35-215.40 region during the Asian session on Wednesday.

Asian equities perform mixed amid uncertainty over US–Iran peace talks. US Vice President JD Vance canceled his visit to Islamabad after Tehran declined talks via Pakistan.

Gold (XAU/USD) gains some positive traction during the Asian session on Wednesday and moves away from a one-week low, around the $4,669-$4,668 region, touched the previous day.

The USD/CHF pair trades in a tight range around 0.7800 during the Asian trading session on Wednesday. The Swiss Franc pair consolidates as investors await remarks from Iran regarding the announcement of the ceasefire extension by the United States (US).

According to a report from The Wall Street Journal (WSJ), the United States (US) has suspended shipments of US Dollars (USDs) to Iraq, which were proceeds from Federal Reserve Bank of New York accounts against oil sales, in an attempt to cripple an Iran-backed military group in Baghdad.

EUR/JPY remains subdued for the second successive day, trading around 187.10 during Asian hours on Wednesday. The technical analysis of the daily chart indicates the currency cross is remaining within an ascending channel, signaling a persistent bullish bias.

The NZD/USD pair gathers strength to around 0.5905 during the Asian trading hours on Wednesday. The New Zealand Dollar (NZD) edges higher against the US Dollar (USD) on hotter-than-expected domestic inflation data. 

The United Kingdom (UK) Office for National Statistics (ONS) will publish the high-impact Consumer Price Index (CPI) data for March at 06:00 GMT. 

GBP/USD remains flat after registering modest losses in the previous trading day, hovering around 1.3510 during the Asian hours on Wednesday.

US Treasury secretary Scott Bessent said on Wednesday that the United States Navy will continue the blockade of Iranian ports, warning that constraints on maritime trade are aimed at targeting Iran’s main revenue sources.

The USD/JPY pair oscillates in a narrow band during the Asian session on Wednesday and currently trades around the 159.30 area, just below a one-week high set the previous day.

The USD/CAD pair trades on a weaker note near 1.3655 during the Asian trading hours on Wednesday. Tensions in the Strait of Hormuz provide some support to the commodity-linked Canadian Dollar (CAD) against the US Dollar (USD). 

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is holding ground after registering modest gains in the previous day and trading around 98.40 during the Asian hours on Wednesday.

Australia Westpac Leading Index (MoM): -0.1% (March) vs previous -0.08%

On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8635 compared to the previous day's fix of 6.8594 and 6.8233 Reuters estimate.