ไทม์ไลน์ข่าวสาร forex

พุธ, มีนาคม 18, 2026

Commerzbank’s Michael Pfister expects the Bank of Canada to leave rates unchanged, in line with Bloomberg consensus.

Commerzbank’s Michael Pfister expects the Bank of Canada to leave rates unchanged, in line with Bloomberg consensus. He argues the Bank of Canada is one of the few G10 central banks that could still hike in 2026, given slightly expansionary real rates and hopes for stronger growth in the second half. Emphasis on upside inflation risks could support the Canadian Dollar.BoC on hold but hike risk"The Bank of Canada will kick things off this afternoon, European time, with all economists surveyed by Bloomberg expecting an unchanged interest rate.""However, as we discussed on these pages on Monday, the Bank of Canada is likely one of the few G10 central banks that could really hike rates this year.""The real interest rate is likely in slightly expansionary territory, while at the same time, there are legitimate hopes that the real economy will pick up in the second half of the year.""If the monetary policymakers emphasize the significance of upside inflation risks today, discussions could gain momentum again - and the CAD could benefit.""But Monday's inflation figures also made it clear that a rate hike is not a foregone conclusion; the headline rate even fell by 0.1 percentage points more than expected."(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

The Pound Sterling (GBP) extends its winning streak against the US Dollar (USD) for the third trading day on Wednesday.

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The GBP/USD pair trades 0.1% higher to near 1.3370 during the early European trading session as the US Dollar is under pressure ahead of the Federal Reserve’s (Fed) monetary policy announcement at 18:00 GMT.At the press time, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades with caution near its three-day low around 99.50.According to the CME FedWatch tool, traders are confident that the Fed will hold interest rates steady in the current range of 3.50%-3.75%. Traders see the Fed maintaining the status quo as higher oil prices due to energy supply concerns have de-anchored inflation expectations globally.This week, major triggers for the British currency will be the United Kingdom (UK) employment data for three months ending in January and the Bank of England’s (BoE) interest rate decision on Thursday.According to a report from JP Morgan, the BoE will keep interest rates steady during the entire year, citing that price pressures are unlikely to return to the 2% target amid higher gas prices.GBP/USD technical analysisGBP/USD rises to near 1.3370 in the European trade. However, the pair remains broadly in a clear bearish territory after repeated failures at the descending resistance trend line plotted from the January 29 high of 1.3847 and a sustained close below the 20-day Exponential Moving Average (EMA), which now caps the upside near 1.3410. Price action has carved out a sequence of lower highs and lower lows, confirming the dominance of sellers despite the latest stabilization above 1.3320. The RSI has recovered from the negative territory, ranging from 20.00 to 40.00, to the 40.00-60.00 neutral zone, signaling fading downside momentum but not yet a shift to bullish control.Initial resistance is aligned at 1.3410, where the 20-day EMA converges with the broken 1.3400 trend-line area, and a break above this zone would expose the 1.3500 region next. On the downside, immediate support emerges at 1.3320, ahead of last week’s trough near 1.3220, which guards a deeper slide toward 1.3100. As long as the price trades below 1.3410, rallies are vulnerable to selling pressure, and the broader short-term structure favors renewed tests of support.(The technical analysis of this story was written with the help of an AI tool.) Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

The USD/CAD pair trades with mild gains around 1.3700 during the early European trading hours on Wednesday. Markets turn cautious ahead of critical interest rate decisions from both the Federal Reserve (Fed) and the Bank of Canada (BoC) later on Wednesday.

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Markets turn cautious ahead of critical interest rate decisions from both the Federal Reserve (Fed) and the Bank of Canada (BoC) later on Wednesday. Traders will closely monitor Fed Chair Jerome Powell’s remarks after the rate decision. The Fed is widely expected to keep interest rates unchanged at its current target range of 3.50%–3.75% at the conclusion of its two-day policy meeting on Wednesday. Escalating tensions in the Middle East and oil price spikes have complicated the inflation outlook, making a rate cut highly unlikely at this time. Traders scaled back Fed easing expectations, with markets now assigning about 25 basis points (bps) of cuts this year, according to a Reuters poll.Markets will take more cues from Fed’s Powell speech, as it might offer some hints about the US interest rate path. Any hawkish comments from Fed officials could underpin the Greenback against the CAD in the near term. The BoC is likely to hold interest rates steady at 2.25% for a third straight meeting on Wednesday as policymakers weigh the inflation risk of higher oil prices against a string of weak economic numbers. “The Bank of Canada won’t rush to respond without clarity on the size and duration of the oil price shock,” said Claire Fan, an economist with the Royal Bank of Canada.   Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports. Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. How do the decisions of the Bank of Canada impact the Canadian Dollar? The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive. How does the price of Oil impact the Canadian Dollar? The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD. How does inflation data impact the value of the Canadian Dollar? While inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar. How does economic data influence the value of the Canadian Dollar? Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall.

The AUD/USD pair trades 0.15% higher at around 0.7115 during the late Asian trading session on Wednesday.

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The Aussie pair rises as the Australian Dollar (AUD) trades broadly firm, following the Reserve Bank of Australia’s (RBA) monetary policy announcement on Tuesday, in which it raised its Official Cash Rate (OCR) by 25 basis points (bps) 4.1%.The RBA was anticipated to tighten its monetary conditions as the Iran conflict-led increase in the oil price has prompted price pressures globally. However, the major trigger behind AUD’s strength appears to be confirmation from Governor Michele Bullock that “inflation was already high,” even before the Middle East conflict, and the “cash rate was not high enough to bring inflation back to target”.Meanwhile, traders expect the RBA to raise interest rates further in the near term. Markets imply a 50-50 chance the Australian central bank will hike again at its next meeting in May, and rates of 4.35% are fully priced by August, Reuters reports.During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades cautiously near its three-day low around 99.50 ahead of the Federal Reserve’s (Fed) monetary policy announcement at 18:00 GMT. Investors expect the Fed to leave interest rates unchanged in the current range of 3.50%-3.75%.AUD/USD technical analysisAUD/USD trades higher to near 0.7113 during the press time. The pair holds a modest bullish near-term bias as it continues to trade above the 20-day Exponential Moving Average, which has flattened, but still runs beneath price and cushions shallow pullbacks. The 14-day Relative Strength Index (RSI) is inside the 40.00-60.00 zone after retracing from the 60.00-80.00 range, indicating a balanced momentum with a positive tone.Initial support emerges near 0.7065, where the 20-day EMA aligns with recent intraday lows, and a break below this area would expose the 0.7020 region as the next downside level. On the topside, immediate resistance stands at 0.7150, the recent local high that capped last week’s advance, followed by a more significant hurdle around 0.7200, where prior supply is likely to reappear if the current recovery extends.(The technical analysis of this story was written with the help of an AI tool.) Fed FAQs What does the Federal Reserve do, how does it impact the US Dollar? Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback. How often does the Fed hold monetary policy meetings? The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions. The FOMC is attended by twelve Fed officials – the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis. What is Quantitative Easing (QE) and how does it impact USD? In extreme situations, the Federal Reserve may resort to a policy named Quantitative Easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used during crises or when inflation is extremely low. It was the Fed’s weapon of choice during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy high grade bonds from financial institutions. QE usually weakens the US Dollar. What is Quantitative Tightening (QT) and how does it impact the US Dollar? Quantitative tightening (QT) is the reverse process of QE, whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing, to purchase new bonds. It is usually positive for the value of the US Dollar.

The Indian Rupee (INR) opens almost flat against the US Dollar (USD) on Wednesday. The USD/INR pair wobbles around 92.80 as investors shift to the sidelines ahead of the Federal Reserve’s (Fed) monetary policy announcement at 23:30 IST (18:00 GMT).

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The USD/INR pair wobbles around 92.80 as investors shift to the sidelines ahead of the Federal Reserve’s (Fed) monetary policy announcement at 23:30 IST (18:00 GMT).During the press time, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades flat around 99.50 after a steep correction in the last two trading days.The USD Index faced selling pressure in the last two trading days as its safe-haven demand diminished amid a recovery in riskier assets. Investors’ risk appetite improved after Iran allowed tankers from some nations, which are one of the largest oil importers in the world, to ship energy products through the Strait of Hormuz.Fed’s policy comes into the spotlightThe major highlight of the day is expected to be the Fed’s monetary policy announcement in which it is anticipated to leave interest rates unchanged in the range of 3.50%-3.75%, according to the CME FedWatch tool. This would be the second straight meeting when the Fed will hold interest rates steady.As the Fed will likely maintain the status quo, investors will pay more attention to the Fed’s dot plot, a tool that shows where officials see interest rates heading in the near-to-longer term, and comments from Chairman Jerome Powell in his press conference regarding the monetary policy outlook.The CME FedWatch tool also shows that traders are confident about the Fed keeping interest rates at their current levels till the July policy meeting. For the September meeting, traders see an almost 53% chance of an interest rate cut.The speculation of the Fed holding interest rates steady in the near term has intensified due to de-anchored inflation expectations across the world amid surging oil prices in the wake of the war in the Middle East, which involves the United States (US), Israel, and Iran.Outlook of Indian Rupee remains uncertainThe outlook for the Indian currency remains grim, partly due to higher oil prices and the consistent foreign outflows from the Indian equity market.Currencies from nations like India, which are heavily dependent on oil imports to fulfill their energy needs, face higher outflows in high oil price conditions. Although Iran has allowed Indian-flagged tankers to ship oil and Liquefied Petroleum Gas (LPG) through the Strait of Hormuz, this has eased concerns about India's domestic energy supply, but higher oil prices could widen India's fiscal deficit.So far in March, Foreign Institutional Investors (FIIs) have remained net sellers on all trading days and have offloaded their stake worth Rs. 70,989.96 crore, according to NSE data. There has been a significant outflow of foreign funds from the Indian stock market in March as higher oil prices have forced market experts to trim their earnings projections for the fourth quarter of FY 2025-26.Technical Analysis: USD/INR stays firm above 20-day EMAUSD/INR consolidates around 92.80 as of writing. The near-term bias is bullish as price holds above the rising 20-day Exponential Moving Average (EMA), which has trailed the advance from the mid-90.50s and continues to provide dynamic support. The sequence of higher closes remains intact despite a brief pause, while the 14-day Relative Strength Index (RSI) in the 60.00-80.00 zone signals strong upside momentum.Initial support emerges at the 20-day EMA around 92.15, followed by a deeper cushion at 91.70 that aligns with the prior breakout area. A daily close below the latter would weaken the bullish structure and expose 91.30 next. On the upside, immediate resistance is at 92.95, the all-time high posted on March 13, with a break above this level opening the path toward the 93.50 region as the next upside objective.(The technical analysis of this story was written with the help of an AI tool.) Indian Rupee FAQs What are the key factors driving the Indian Rupee? The Indian Rupee (INR) is one of the most sensitive currencies to external factors. The price of Crude Oil (the country is highly dependent on imported Oil), the value of the US Dollar – most trade is conducted in USD – and the level of foreign investment, are all influential. Direct intervention by the Reserve Bank of India (RBI) in FX markets to keep the exchange rate stable, as well as the level of interest rates set by the RBI, are further major influencing factors on the Rupee. How do the decisions of the Reserve Bank of India impact the Indian Rupee? The Reserve Bank of India (RBI) actively intervenes in forex markets to maintain a stable exchange rate, to help facilitate trade. In addition, the RBI tries to maintain the inflation rate at its 4% target by adjusting interest rates. Higher interest rates usually strengthen the Rupee. This is due to the role of the ‘carry trade’ in which investors borrow in countries with lower interest rates so as to place their money in countries’ offering relatively higher interest rates and profit from the difference. What macroeconomic factors influence the value of the Indian Rupee? Macroeconomic factors that influence the value of the Rupee include inflation, interest rates, the economic growth rate (GDP), the balance of trade, and inflows from foreign investment. A higher growth rate can lead to more overseas investment, pushing up demand for the Rupee. A less negative balance of trade will eventually lead to a stronger Rupee. Higher interest rates, especially real rates (interest rates less inflation) are also positive for the Rupee. A risk-on environment can lead to greater inflows of Foreign Direct and Indirect Investment (FDI and FII), which also benefit the Rupee. How does inflation impact the Indian Rupee? Higher inflation, particularly, if it is comparatively higher than India’s peers, is generally negative for the currency as it reflects devaluation through oversupply. Inflation also increases the cost of exports, leading to more Rupees being sold to purchase foreign imports, which is Rupee-negative. At the same time, higher inflation usually leads to the Reserve Bank of India (RBI) raising interest rates and this can be positive for the Rupee, due to increased demand from international investors. The opposite effect is true of lower inflation.

The EUR/GBP cross loses ground to near 0.8635, snapping the four-day winning streak during the early European session on Wednesday. Markets are in a "wait-and-see" mode ahead of the European Central Bank (ECB) and the Bank of England (BoE) interest rate decisions later on Thursday. 

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}EUR/GBP softens to around 0.8635 in Wednesday’s early European session. ECB is likely to leave its benchmark deposit rate unchanged at 2.00% on Thursday. BoE is expected to hold rates in March. The EUR/GBP cross loses ground to near 0.8635, snapping the four-day winning streak during the early European session on Wednesday. Markets are in a "wait-and-see" mode ahead of the European Central Bank (ECB) and the Bank of England (BoE) interest rate decisions later on Thursday. The ECB is expected to maintain its benchmark deposit rate at 2.0%. Traders will closely monitor the press conference for guidance from policymakers. Hawkish remarks from ECB officials could boost the Euro (EUR) against the Pound Sterling (GBP) in the near term. Interest rate futures are fully pricing a rate hike by the end of July and about a 55% chance of a second one by the end of December. But economists polled by Reuters March 9-13 stuck to their long‑held view of steady rates.On the UK front, the BoE is anticipated to keep its key interest rate unchanged at 3.75% at the March meeting on Thursday. Analysts said that the size and persistence of the energy price shock will determine its ultimate impact on inflation, inflation expectations, and the BoE’s response. Bank of America economists now expect two Bank Rate cuts in June and September, delayed from its previous forecast of March and June.The UK jobs data will also be in the spotlight on Thursday. The ILO Unemployment Rate is projected to rise to 5.3% in January from 5,2% in December. Any signs of strength in the UK labor market could lift the Pound Sterling against the Euro in the near term.  ECB FAQs What is the ECB and how does it influence the Euro? The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy for the region. The ECB primary mandate is to maintain price stability, which means keeping inflation at around 2%. Its primary tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will usually result in a stronger Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. What is Quantitative Easing (QE) and how does it affect the Euro? In extreme situations, the European Central Bank can enact a policy tool called Quantitative Easing. QE is the process by which the ECB prints Euros and uses them to buy assets – usually government or corporate bonds – from banks and other financial institutions. QE usually results in a weaker Euro. QE is a last resort when simply lowering interest rates is unlikely to achieve the objective of price stability. The ECB used it during the Great Financial Crisis in 2009-11, in 2015 when inflation remained stubbornly low, as well as during the covid pandemic. What is Quantitative tightening (QT) and how does it affect the Euro? Quantitative tightening (QT) is the reverse of QE. It is undertaken after QE when an economic recovery is underway and inflation starts rising. Whilst in QE the European Central Bank (ECB) purchases government and corporate bonds from financial institutions to provide them with liquidity, in QT the ECB stops buying more bonds, and stops reinvesting the principal maturing on the bonds it already holds. It is usually positive (or bullish) for the Euro.

USD/CHF gains ground after two days of losses, trading around 0.7850 during the Asian hours on Wednesday. The pair holds ground as the US Dollar (USD) remains steady on market caution ahead of the Federal Reserve’s (Fed) policy decision.

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The pair holds ground as the US Dollar (USD) remains steady on market caution ahead of the Federal Reserve’s (Fed) policy decision.According to the CME FedWatch Tool, markets widely expect the Federal Reserve to keep its benchmark interest rate unchanged at 3.50%–3.75% on Wednesday. If the Fed opts to hold rates steady, it would mark the second consecutive pause, reflecting a cautious stance amid increasing economic and geopolitical uncertainty.Traders await Fed Chair Jerome Powell’s remarks to gain impetus regarding how the recent surge in oil prices may influence the central bank’s policy outlook. Energy prices may further appreciate on following recent US military strikes on Iranian coastal sites near the Strait of Hormuz, citing threats from anti-ship missiles to global shipping, according to Reuters. Meanwhile, the BBC reported that Israel claimed responsibility for strikes that killed senior Iranian officials, including Ali Larijani and Basij chief Gholamreza Soleimani.However, the USD/CHF came under pressure as the Swiss Franc (CHF) gained on safe-haven demand amid persistent geopolitical risks. However, CHF’s upside may be limited after the Swiss National Bank (SNB) signaled a stronger willingness to intervene in FX markets, citing concerns that continued currency strength could trigger deflationary pressures.Meanwhile, surging energy prices linked to the Iran conflict pose risks to the global economy by fueling inflation and increasing the likelihood of higher interest rates. The Swiss National Bank is widely expected to keep its policy rate unchanged at 0% on Thursday. Swiss Franc FAQs What key factors drive the Swiss Franc? The Swiss Franc (CHF) is Switzerland’s official currency. It is among the top ten most traded currencies globally, reaching volumes that well exceed the size of the Swiss economy. Its value is determined by the broad market sentiment, the country’s economic health or action taken by the Swiss National Bank (SNB), among other factors. Between 2011 and 2015, the Swiss Franc was pegged to the Euro (EUR). The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone. Why is the Swiss Franc considered a safe-haven currency? The Swiss Franc (CHF) is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress. This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks. Turbulent times are likely to strengthen CHF value against other currencies that are seen as more risky to invest in. How do decisions of the Swiss National Bank impact the Swiss Franc? The Swiss National Bank (SNB) meets four times a year – once every quarter, less than other major central banks – to decide on monetary policy. The bank aims for an annual inflation rate of less than 2%. When inflation is above target or forecasted to be above target in the foreseeable future, the bank will attempt to tame price growth by raising its policy rate. Higher interest rates are generally positive for the Swiss Franc (CHF) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken CHF. How does economic data influence the value of the Swiss Franc? Macroeconomic data releases in Switzerland are key to assessing the state of the economy and can impact the Swiss Franc’s (CHF) valuation. The Swiss economy is broadly stable, but any sudden change in economic growth, inflation, current account or the central bank’s currency reserves have the potential to trigger moves in CHF. Generally, high economic growth, low unemployment and high confidence are good for CHF. Conversely, if economic data points to weakening momentum, CHF is likely to depreciate. How does the Eurozone monetary policy affect the Swiss Franc? As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland’s main economic partner and a key political ally, so macroeconomic and monetary policy stability in the Eurozone is essential for Switzerland and, thus, for the Swiss Franc (CHF). With such dependency, some models suggest that the correlation between the fortunes of the Euro (EUR) and the CHF is more than 90%, or close to perfect.

The EUR/USD pair struggles to capitalize on this week's goodish recovery move from the 1.1415-1.1410 area, or its lowest level since August 2025, and oscillates in a narrow band during the Asian session on Wednesday.

.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a}EUR/USD consolidates its strong recovery gains registered over the past two days.Traders opt to wait on the sidelines ahead of the key Fed and ECB policy updates.The technical setup warrants some caution before placing aggressive bullish bets.The EUR/USD pair struggles to capitalize on this week's goodish recovery move from the 1.1415-1.1410 area, or its lowest level since August 2025, and oscillates in a narrow band during the Asian session on Wednesday. Spot prices currently trade just below mid-1.1500s, nearly unchanged for the day, as traders opt to wait for the key central bank event risks before placing fresh directional bets.The US Federal Reserve (Fed) is scheduled to announce its decision at the end of a two-day meeting later today, which will be followed by the European Central Bank (ECB) policy update on Thursday. Investors will look for cues about the interest rate path going forward amid concerns that a war-driven surge in energy prices would negative impact on economic growth and revive inflationary pressures.The EUR/USD pair holds below the 200-hour Simple Moving Average (SMA) around 1.1547, capping recovery attempts. The Relative Strength Index (RSI) around 62 stays in positive territory but below overbought conditions, indicating moderate upside momentum without strong follow-through. The Moving Average Convergence Divergence (MACD) line has slipped marginally below the signal line near the zero mark, reinforcing a loss of bullish impulse and aligning with the rejection from the longer-term average.Immediate resistance emerges at the 50.0% retracement level at 1.1539, measured from the 1.1666 high to the 1.1413 low, with a clear break higher needed to expose the 61.8% Fibonacci retracement level at 1.1569 and then the 100-period SMA zone near 1.1580.On the downside, initial support stands at the 38.2% Fibo. retracement level at 1.1509, ahead of the 23.6% level at 1.1473, where a confluence with prior intraday lows would strengthen the floor. A decisive drop below 1.1473 would open the way toward the 1.1413 swing low, while sustained trading above 1.1569 would neutralize the current bearish tone and shift focus back to the 1.1612–1.1666 resistance band.(The technical analysis of this story was written with the help of an AI tool.)EUR/USD 1-hour chart Euro Price This week The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the strongest against the US Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.99% -0.89% -0.40% -0.20% -1.72% -1.19% -0.62% EUR 0.99% 0.12% 0.53% 0.79% -0.70% -0.20% 0.37% GBP 0.89% -0.12% 0.55% 0.67% -0.83% -0.32% 0.31% JPY 0.40% -0.53% -0.55% 0.22% -1.31% -0.77% -0.24% CAD 0.20% -0.79% -0.67% -0.22% -1.56% -0.98% -0.42% AUD 1.72% 0.70% 0.83% 1.31% 1.56% 0.52% 1.11% NZD 1.19% 0.20% 0.32% 0.77% 0.98% -0.52% 0.54% CHF 0.62% -0.37% -0.31% 0.24% 0.42% -1.11% -0.54% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

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

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Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up. (An automation tool was used in creating this post.)

The AUD/JPY cross posts modest gains around 113.00 during the early European session on Wednesday. The Australian Dollar (AUD) strengthens against the Japanese Yen (JPY) after the Reserve Bank of Australia (RBA) delivers a rate hike and keeps a hawkish tone.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}AUD/JPY trades in positive territory near 113.00 in Wednesday’s early European session.The constructive outlook of the cross remains intact above the 100-day EMA, with bullish RSI momentum.The immediate resistance level emerges at 113.70; the initial support level is seen at 111.40.The AUD/JPY cross posts modest gains around 113.00 during the early European session on Wednesday. The Australian Dollar (AUD) strengthens against the Japanese Yen (JPY) after the Reserve Bank of Australia (RBA) delivers a rate hike and keeps a hawkish tone.The RBA raised the Official Cash Rate (OCR) by 25 basis points (bps) to 4.10% at its March policy meeting on Tuesday. This follows a similar hike in February, marking the first back-to-back increases since mid-2023. During the press conference, Governor Michele Bullock stated that prices remained too high and the board was worried about second-round effects from higher energy costs, triggered by the Middle East conflict.The attention will shift to Australia’s employment data for February, which is due later on Thursday. The Unemployment Rate is expected to remain unchanged at 4.1% in February. Any signs of weakening in the US labor market could undermine the Aussie in the near term.Traders will closely monitor the situation in the Middle East. Iranian security chief Ali Larijani killed in Israeli air strikes, per BBC. Meanwhile, Iranian army chief Amir Hatami vowed to launch a “decisive and regrettable” retaliation for the killing of security chief Ali Larijani in an Israeli airstrike. Fears of a prolonged war in the Middle East could boost safe-haven demand, which supports the JPY and acts as a headwind for the cross.
Technical Analysis:In the daily chart, the near-term bias of AUD/JPY is bullish as price remains well above the 100-day exponential moving average around 106.40, keeping the broader uptrend intact. The latest candles track above the rising Bollinger middle band while the upper band continues to expand, confirming strong upside volatility. Daily RSI hovers in the low 60s, staying in positive territory without entering overbought extremes, which supports sustained buying pressure rather than an exhausted spike.Immediate resistance emerges at the recent peak near 113.70, backed by the upper Bollinger Band at 113.80; a daily close above this area would open the way toward the 115.00 region next. On the downside, initial support is at 111.40 from the Bollinger middle band, followed by the 110.15–110.35 zone, which coincides with prior consolidation and the mid-October band cluster. A deeper pullback would target the 108.70 area, just above the 100-day EMA, where trend support aligns with the lower part of the recent Bollinger structure; only a break below that region would threaten the current bullish setup.(The technical analysis of this story was written with the help of an AI tool.) Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. How do the decisions of the Bank of Japan impact the Japanese Yen? One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen. How does the differential between Japanese and US bond yields impact the Japanese Yen? Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential. How does broader risk sentiment impact the Japanese Yen? The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.

Iraq’s oil minister said on Tuesday that the Iraqi government and the Kurdistan Regional Government (KRG) reached an agreement to resume oil exports to Turkey’s Ceyhan energy hub starting on Wednesday, Reuters reported.  

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}} Iraq’s oil minister said on Tuesday that the Iraqi government and the Kurdistan Regional Government (KRG) reached an agreement to resume oil exports to Turkey’s Ceyhan energy hub starting on Wednesday, Reuters reported.  The KRG stated that both sides would form a joint committee to prepare for resuming oil exports via the region's pipeline from Wednesday, with revenue to be returned to the federal treasury. They also agreed to take the necessary security measures to protect oilfields and ensure the continuity of export operations. Market reactionAt the time of writing, the West Texas Intermediate (WTI) is down 2.87% on the day at $92.25.  WTI Oil FAQs What is WTI Oil? WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. What factors drive the price of WTI Oil? Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa. How does inventory data impact the price of WTI Oil The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency. How does OPEC influence the price of WTI Oil? OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
 

West Texas Intermediate (WTI) Crude Oil prices struggle to capitalize on the previous day's modest gains and meet with a fresh supply during the Asian session on Wednesday.

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The commodity is currently trading below the $93.00 mark, down over 2.5% for the day, and remains close to the weekly low, touched on Monday.Sources citing American Petroleum Institute figures said that US crude inventories rose by 6.56 million barrels in the week ended March 13. This, in turn, prompts some selling around Crude Oil prices, though heightened geopolitical uncertainty stemming from ongoing conflicts in the Middle East and supply concerns might continue to act as a tailwind for the black liquid.The US-Israel war on Iran is in its third week and has shown no clear signs of de-escalation. In fact, a senior Iranian official said that Iran’s new supreme leader rejected de-escalation offers conveyed by intermediary countries. This comes amid the closure of the Strait of Hormuz, which handles around 20% of global supply, and has led to severe disruption of energy trade.Meanwhile, the US military targeted sites along Iran’s coastline near the Strait of Hormuz. Moreover, Iran's top security official, Ali Larijani, and the head of the paramilitary Basij force, Gholamreza Soleimani, were killed in Israeli air strikes on Tuesday. Iran's army chief Amir Hatami said that Tehran's response to the assassination will be decisive and regrettable.This keeps geopolitical risks in play and might limit the downside for Crude Oil prices. The price action, however, suggests that market players have already fully priced in the current situation. Moreover, reduced bets for more rate cuts by the US Federal Reserve (Fed) underpin the US Dollar (USD) and warrant caution before placing bullish bets around Oil prices. WTI Oil FAQs What is WTI Oil? WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. What factors drive the price of WTI Oil? Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa. How does inventory data impact the price of WTI Oil The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency. How does OPEC influence the price of WTI Oil? OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.

EUR/JPY depreciates after registering gains in the previous two sessions, trading around 183.40 during the Asian hours on Wednesday.

.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a}EUR/JPY tests the immediate barrier around the upper descending triangle boundary at 183.40.The 14-day Relative Strength Index near 50 indicates neutral momentum.Immediate support lies at the nine-day EMA at 183.28.EUR/JPY depreciates after registering gains in the previous two sessions, trading around 183.40 during the Asian hours on Wednesday. The technical analysis of the daily chart shows the spot testing the upper boundary of a descending triangle, suggesting potential resistance and a possible continuation of the bearish trend unless a breakout occurs.However, the near-term bias is mildly bullish as the EUR/JPY cross holds above the 50-day EMA and the nine-day EMA, signaling an ongoing uptrend rather than a reversal. The 14-day Relative Strength Index (RSI) around 50 underscores balanced momentum, with neither overbought nor oversold conditions, which keeps the focus on price action around the clustered moving averages to judge whether buyers can regain control.A successful breakout above the descending triangle would indicate bullish confirmation and may support the EUR/JPY cross to explore the region around the all-time high of 186.88, reached on January 23.On the downside, immediate support is seen at the nine-day EMA of 183.28, followed by the 50-day EMA of 183.12. Further declines below the short- and medium-term averages would revive the bearish bias and put downward pressure on the EUR/JPY cross to navigate the area around the three-month low of 180.81, recorded on February 12, followed by the lower boundary of the descending triangle around 180.40. A break below the triangle would expose the four-month low at 175.70, recorded on November 5.EUR/JPY: Daily Chart(The technical analysis of this story was written with the help of an AI tool.) Euro Price Today The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the Australian Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD 0.04% -0.02% -0.03% 0.07% -0.06% 0.01% 0.10% EUR -0.04% -0.05% -0.06% 0.03% -0.11% -0.05% 0.05% GBP 0.02% 0.05% -0.02% 0.08% -0.05% 0.01% 0.09% JPY 0.03% 0.06% 0.02% 0.09% -0.02% 0.01% 0.09% CAD -0.07% -0.03% -0.08% -0.09% -0.13% -0.08% 0.02% AUD 0.06% 0.11% 0.05% 0.02% 0.13% 0.06% 0.15% NZD -0.01% 0.05% -0.01% -0.01% 0.08% -0.06% 0.08% CHF -0.10% -0.05% -0.09% -0.09% -0.02% -0.15% -0.08% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

Gold (XAU/USD) is seen extending its sideways consolidative price move around the $5,000 psychological mark for the third straight day on Wednesday as traders opt to wait for the crucial FOMC decision.

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The US Federal Reserve (Fed) is expected to maintain the status quo and keep interest rates steady at the end of a two-day meeting. The market focus, however, will be on the accompanying policy statement and updated economic projections, including the so-called dot plot. Moreover, Fed Chair Jerome Powell's comments during the post-meeting press conference will be scrutinized closely for more cues about the path of future interest rates amid fears of a war-driven spike in inflation. This, in turn, will influence the US Dollar (USD) price dynamics and provide a fresh directional impetus to the non-yielding yellow metal.Meanwhile, the US-Israel attacks on Iran and the effective closure of the Strait of Hormuz – a critical chokepoint handling around 20% of global oil supply – led to severe disruption of energy trade. This has been fueling inflationary concerns and forcing traders to trim their bets for more interest rate cuts by the Fed in 2026. In fact, the current market pricing indicates a significant shift in market expectations from multiple rate reductions to potentially just one in December. This, in turn, assists the USD to stall a two-day-old retracement slide from its highest level since May 2025 and turns out to be a key factor acting as a headwind for the Gold price. However, heightened geopolitical uncertainties continue to benefit traditional safe-haven assets and limit the downside for the precious metal, warranting caution for bears.Iranian authorities confirmed that top security official, Ali Larijani, and the head of the paramilitary Basij force, Gholamreza Soleimani, were killed in Israeli air strikes on Tuesday. Iran's army chief Amir Hatami said in a statement that Iran’s response to the assassination of the secretary of the Supreme National Security Council will be decisive and regrettable. Meanwhile, the US military targeted sites along Iran’s coastline near the Strait of Hormuz. This, along with the risk of a further escalation of conflicts in the Middle East, could offer some support to the Gold. Meanwhile, policy updates by other major central banks – the European Central Bank (ECB), the Bank of Japan (BoJ), and the Bank of England (BoE) – should produce some trading opportunities around the XAU/USD pair during the latter part of the week.XAU/USD 4-hour chartGold seems vulnerable as break below ascending trend line and 200-SMA on H4 remains in playThe near-term bias is mildly bearish as the precious metal has slipped beneath the 200-period Simple Moving Average (SMA) on the 4-hour chart and the upward-sloping trend line support. The Moving Average Convergence Divergence (MACD) line has turned higher above its Signal line but remains close to the zero mark, suggesting only tentative recovery attempts within a broader softening backdrop. The Relative Strength Index (RSI) near 39 stays below the 50 midline, indicating prevailing bearish pressure despite the recent stabilization.Immediate resistance emerges at the 200-period SMA around $5,061, and a recovery above this area would be needed to ease downside pressure and expose the recent swing region around $5,100 as the next barrier. On the downside, initial support is located at the recent low near $4,985, with a sustained break opening the way toward the previous reaction area around $4,950. A decisive move below $4,950 would strengthen the bearish extension toward the rising trend line’s prior consolidation band closer to $4,900, while only a firm reclaim of $5,061 and $5,100 would begin to neutralize the current negative tone.(The technical analysis of this story was written with the help of an AI tool.) Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up. Technical Analysis:In the 4-hour chart, XAU/USD trades at $5,002.73.

The Japanese Yen (JPY) trades almost flat around 159.00 against the US Dollar (USD) during the Asian trading session on Wednesday. The USD/JPY pair consolidates as investors await the Federal Reserve’s (Fed) monetary policy announcement at 18:00 GMT.

.fxs-event-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-event-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-event-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-event-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:12px}.fxs-event-module-section:last-child{border:none;margin-bottom:0}.fxs-event-module-header{color:#1b1c23;font-weight:700;font-size:16px;font-style:normal;line-height:20px;margin:0;padding:4px 0;background-color:#fff;border:none;position:relative;padding-right:32px}.fxs-event-module-header label{cursor:pointer;display:block}.fxs-event-module-header label:after,.fxs-event-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-event-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-event-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]{display:none}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:after{transform:rotate(45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-event-module-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0;margin-top:8px}.fxs-event-module-content.why-matters{max-height:0;overflow:hidden;transition:all .3s ease-in-out}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-content.why-matters{max-height:1000px;margin-top:8px}.fxs-event-module-calendar-title{color:#1b1c23;font-size:17.6px;font-family:Roboto;font-style:normal;font-weight:700;line-height:20.8px;margin:4px 0 0 0}.fxs-event-module-calendar-title-description-wrapper{display:flex;flex-direction:column;gap:12px;border-bottom:1px solid #ececf1;padding-bottom:16px;margin-bottom:16px}.fxs-event-module-inner-calendar{padding:16px}.fxs-event-module-inner-calendar .fxs-event-module-section{padding:0}.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:12.8px;line-height:17px}.fxs-event-module-read-more{display:flex;align-items:center;align-content:center;gap:4px;color:#e4871b;font-size:12.8px;font-family:Roboto;font-style:normal;font-weight:700;line-height:17px;text-decoration:none}.fxs-event-module-read-more svg{width:16px;height:16px}.fxs-event-module-read-more:hover span{text-decoration:underline}.fxs-event-module-release{margin:0;display:flex;flex-direction:column;gap:2px}.fxs-event-module-release>p{font-size:12.8px;font-family:Roboto;font-style:normal;line-height:17px;margin:0}.fxs-event-module-release>p>strong{color:#8c8d91;font-weight:700}.fxs-event-module-release>p>span{color:#8c8d91;font-weight:400}.fxs-event-module-release>p>a{color:#e4871b;font-weight:700;text-decoration:none}.fxs-event-module-release>p>a:hover>span{text-decoration:underline}.fxs-event-module-inner-calendar .fxs-event-module-container{margin:16px 0 0 0;border-top:1px solid #ececf1;padding:12px 0 0 0}@media (min-width:680px){.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:14.72px;line-height:20px}.fxs-event-module-release p{font-size:14.72px;line-height:20px}.fxs-event-module-read-more{font-size:14.72px;line-height:20px}.fxs-event-module-calendar-title{font-size:22.4px;line-height:25.6px}.fxs-event-module-title{font-size:19.2px;line-height:27.2px}.fxs-event-module-header{font-size:19.2px;line-height:25.92px}.fxs-event-module-content{font-size:16px;line-height:21.6px}}The Japanese Yen trades calmly near 159.00 against the US Dollar ahead of the Fed’s policy announcement.Both the Fed and the BoJ are expected to leave interest rates unchanged this week.Global oil concerns have eased slightly following the reopening of Hormuz for some nations.The Japanese Yen (JPY) trades almost flat around 159.00 against the US Dollar (USD) during the Asian trading session on Wednesday. The USD/JPY pair consolidates as investors await the Federal Reserve’s (Fed) monetary policy announcement at 18:00 GMT.As of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, holds onto two-day’s losses around 99.50. The USD Index has corrected in the last two trading sessions after a sharp rally, as the opening of the Strait of Hormuz by Iran for some countries has slightly eased global supply concerns.In the policy meeting, investors expect the Fed to leave interest rates unchanged again in the range of 3.50%-3.75% as the recent surge in oil prices due to Middle East conflicts has prompted inflation expectations in the United States (US) and the entire world.Therefore, market participants will pay close attention to the Fed’s dot plot and comments regarding the monetary policy outlook. According to the CME FedWatch tool, the Fed is unlikely to cut interest rates anytime before the September policy meeting.Meanwhile, the Japanese Yen (JPY) trades broadly firm as Bank of Japan (BoJ) Governor Kazuo Ueda has expressed confidence that prices and wages will continue to accelerate ahead of the monetary policy announcement on Thursday. “Expect underlying inflation to converge toward our target in the latter half of fiscal 2026 through fiscal 2027,” Ueda said on Tuesday.In the policy meeting on Thursday, the BoJ is expected to leave borrowing rates steady at 0.75% while leaving the door open for further interest rate hikes. Economic Indicator Fed Interest Rate Decision The Federal Reserve (Fed) deliberates on monetary policy and makes a decision on interest rates at eight pre-scheduled meetings per year. It has two mandates: to keep inflation at 2%, and to maintain full employment. Its main tool for achieving this is by setting interest rates – both at which it lends to banks and banks lend to each other. If it decides to hike rates, the US Dollar (USD) tends to strengthen as it attracts more foreign capital inflows. If it cuts rates, it tends to weaken the USD as capital drains out to countries offering higher returns. If rates are left unchanged, attention turns to the tone of the Federal Open Market Committee (FOMC) statement, and whether it is hawkish (expectant of higher future interest rates), or dovish (expectant of lower future rates). Read more. Next release: Wed Mar 18, 2026 18:00 Frequency: Irregular Consensus: 3.75% Previous: 3.75% Source: Federal Reserve

GBP/USD steadies after posting gains over the previous two sessions, hovering around 1.1350 during Asian trading hours on Wednesday.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}GBP/USD holds steady as investors stay cautious ahead of the Fed's rate decision on Wednesday.Traders await Powell’s guidance on how rising oil prices may shape the Fed’s policy outlook.Traders expect the BoE to hold rates at 3.75% as oil-driven inflation fears rise amid the Iran conflict.GBP/USD steadies after posting gains over the previous two sessions, hovering around 1.1350 during Asian trading hours on Wednesday. The pair shows limited movement as the US Dollar (USD) holds steady, with investors remaining cautious ahead of the Federal Reserve’s (Fed) policy decision scheduled for later in the day. Traders focus on guidance from Fed Chair Jerome Powell regarding how the recent surge in oil prices may influence the central bank’s policy outlook.Markets widely anticipate that the Federal Reserve will keep its benchmark interest rate unchanged within the 3.50%–3.75% range for March, according to the CME FedWatch Tool. If the Fed opts to hold rates steady, it would mark the second consecutive pause, reflecting a cautious stance amid increasing economic and geopolitical uncertainty.Traders expect the Bank of England (BoE) to keep interest rates unchanged at 3.75% on Thursday. Rising oil prices amid the ongoing Iran conflict have lifted inflation expectations in the United Kingdom and sharply reduced the likelihood of a March rate cut. Prior to the conflict, markets had priced in an 80% chance of a March cut; the vote split will be closely watched, with a 6–3 outcome signaling a more dovish tilt than the expected 7–2 consensus.Market participants are also monitoring energy prices, which have found renewed support following recent US military strikes on Iranian coastal sites near the Strait of Hormuz, citing threats from anti-ship missiles to global shipping, according to Reuters. Meanwhile, the BBC reported that Israel claimed responsibility for strikes that killed senior Iranian officials, including Ali Larijani and Basij chief Gholamreza Soleimani. Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 99.60 during the Asian trading hours on Wednesday.

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The DXY holds steady as traders wait on the sidelines ahead of the US Federal Reserve (Fed) interest rate decision later on Wednesday. Intensifying conflict in the Middle East could boost the safe-haven demand, which supports the US Dollar against its rivals. The BBC reported on Tuesday that Iranian security chief Ali Larijani was killed in Israeli air strikes. Iranian army chief Amir Hatami vowed to launch a “decisive and regrettable” retaliation for the killing of security chief Ali Larijani in an Israeli air strike.  “Geopolitical tensions in the Middle East have once again reinforced the USD’s role as a primary safe-haven currency,” HSBC forex analysts wrote in a Thursday note. The Federal Open Market Committee (FOMC) is expected to hold interest rates steady at 3.50%–3.75% at its March meeting on Wednesday. The ongoing war in Iran and oil price spikes have complicated the inflation outlook, making a rate cut highly unlikely at this time. Traders dialed back Fed easing expectations, with markets now assigning about 25 basis points (bps) of cuts this year, according to a Reuters poll. Traders will closely monitor Fed Chair Jerome Powell’s remarks after the rate decision. Fed Chair Jerome Powell will hold one of his final press conferences before his term ends in May. Any hawkish remarks from Fed officials could lift the USD, while dovish comments from policymakers could drag the DXY lower.  US Dollar FAQs What is the US Dollar? The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away. How do the decisions of the Federal Reserve impact the US Dollar? The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback. What is Quantitative Easing and how does it influence the US Dollar? In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar. What is Quantitative Tightening and how does it influence the US Dollar? Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.

USD/CAD remains flat after posting little gains in the previous session, hovering around 1.3690 during the Asian hours on Wednesday. The pair holds steady as traders remain cautious ahead of policy decisions from both the Federal Reserve (Fed) and the Bank of Canada (BoC) later in the day.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}USD/CAD steadies as traders await Powell’s guidance on oil surge impact on Fed policy outlook.Federal Reserve expected to hold benchmark rate steady at 3.50%–3.75% in March.Rabobank strategists expect BoC to hold rates at 2.25% through year-end despite inflation and slowing growth.USD/CAD remains flat after posting little gains in the previous session, hovering around 1.3690 during the Asian hours on Wednesday. The pair holds steady as traders remain cautious ahead of policy decisions from both the Federal Reserve (Fed) and the Bank of Canada (BoC) later in the day.Traders are particularly focused on guidance from Fed Chair Jerome Powell regarding how the recent surge in oil prices may influence the central bank’s policy outlook. Markets widely anticipate that the Federal Reserve will keep its benchmark interest rate unchanged within the 3.50%–3.75% range for March, according to the CME FedWatch Tool. Such a move would mark a second consecutive pause, underscoring a cautious approach amid rising economic and geopolitical uncertainty.On the Canadian side, Rabobank strategists Molly Schwartz and Christian Lawrence expect the BoC to hold its overnight rate at 2.25% at Wednesday’s meeting and maintain that level through year-end, despite persistent inflation and slowing economic activity. This March policy view aligns with the consensus among Bloomberg-surveyed analysts and is already fully priced in by markets. The conflict involving Iran and elevated oil prices are seen adding inflationary pressure that monetary policy may struggle to counter, while markets tentatively price in the possibility of a rate hike.USD/CAD may remain supported as the Canadian Dollar (CAD) faces pressure from softer oil prices. West Texas Intermediate (WTI) crude has pared recent gains, trading near $94.00 per barrel at the time of writing.However, oil prices could find renewed support amid escalating tensions around the Strait of Hormuz. The US military reported targeting Iranian coastal sites near the strait due to threats from anti-ship missiles to global shipping, according to Reuters. Meanwhile, the BBC reported that Israel claimed responsibility for strikes that killed senior Iranian officials, including Ali Larijani and Basij chief Gholamreza Soleimani. Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports. Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. How do the decisions of the Bank of Canada impact the Canadian Dollar? The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive. How does the price of Oil impact the Canadian Dollar? The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD. How does inflation data impact the value of the Canadian Dollar? While inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar. How does economic data influence the value of the Canadian Dollar? Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall.

The NZD/USD pair edges higher during the Asian session on Wednesday and currently trades just above mid-0.5800s, though it  lacks bullish conviction.

.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a}NZD/USD attracts some buyers during the Asian session, though it lacks follow-through.A positive risk tone keeps the USD bulls on the defensive and lends support to the Kiwi.Reduced Fed rate cut bets limit USD losses and cap the pair ahead of the FOMC decision.The NZD/USD pair edges higher during the Asian session on Wednesday and currently trades just above mid-0.5800s, though it  lacks bullish conviction. Spot prices remain below a technically significant 200-day Simple Moving Average (SMA) as traders keenly await the crucial FOMC rate decision before placing fresh directional bets.The US Dollar (USD) is seen consolidating following the recent pullback from its highest level since May 2025 and lending some support to the NZD/USD pair. A generally positive tone around the equity markets dents demand for traditional safe-haven assets and keeps the USD bulls on the defensive. However, expectations that the recent surge in crude oil prices would rekindle inflation and force the US Federal Reserve (Fed) to delay cutting interest rates should act as a tailwind for the USD.Hence, the market focus will remain glued to the outcome of a two-day FOMC policy meeting, scheduled to be announced later during the North American session. The outlook will play a key role in influencing the near-term USD price dynamics and help in determining the near-term trajectory for the NZD/USD pair. In the meantime, rising tensions in the Middle East might keep a lid on any optimism, which should benefit the safe-haven Greenback and cap the upside for the perceived riskier Kiwi.In the latest developments, Iran's top security official, Ali Larijani, and the head of the paramilitary Basij force, Gholamreza Soleimani, have been killed in Israeli air strikes on Tuesday. Iran's army vows revenge for security chief Larijani’s killing. Moreover, the US military said that it targeted sites along Iran’s coastline near the Strait of Hormuz – a critical energy chokepoint. This keeps geopolitical risks in play, which favors the USD bulls and should cap gains for the NZD/USD pair. US Dollar Price This week The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the strongest against the Canadian Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.98% -0.85% -0.35% -0.25% -1.70% -1.19% -0.61% EUR 0.98% 0.15% 0.55% 0.72% -0.73% -0.23% 0.36% GBP 0.85% -0.15% 0.53% 0.57% -0.87% -0.38% 0.27% JPY 0.35% -0.55% -0.53% 0.12% -1.35% -0.83% -0.27% CAD 0.25% -0.72% -0.57% -0.12% -1.50% -0.94% -0.35% AUD 1.70% 0.73% 0.87% 1.35% 1.50% 0.50% 1.11% NZD 1.19% 0.23% 0.38% 0.83% 0.94% -0.50% 0.56% CHF 0.61% -0.36% -0.27% 0.27% 0.35% -1.11% -0.56% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

The AUD/USD pair gains traction to near 0.7115 during the Asian trading hours on Wednesday. The Australian Dollar (AUD) strengthens against the US Dollar (USD) after a hawkish interest rate hike from the Reserve Bank of Australia (RBA).

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The Australian Dollar (AUD) strengthens against the US Dollar (USD) after a hawkish interest rate hike from the Reserve Bank of Australia (RBA). All eyes will be on the US Federal Reserve (Fed) interest rate decision later on Wednesday. As widely expected, the Australian central bank hikes the Official Cash Rate (OCR) by 25 basis points (bps) to 4.10% at its March meeting on Tuesday. This marks the second consecutive rate hike of the year, following a 25 bps increase in February. RBA Governor Michele Bullock said during the press conference that prices remained too high and the board was worried about second-round effects from higher energy costs, triggered by the Middle East conflict. She emphasized that the decision to move on Tuesday didn’t imply anything about the future path of policy. However, a hawkish tone from the RBA provides some support to the Aussie against the USD. The Fed is expected to keep its key interest rate on hold at its March policy meeting on Wednesday to give policymakers a chance to see how the war affects the US economy. Fed Chair Jerome Powell will hold one of his final press conferences before his term ends in May. Due to geopolitical uncertainty, many analysts believe the US central bank may not cut rates until October or December 2026.  Australian Dollar FAQs What key factors drive the Australian Dollar? One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD. How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive. How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar (AUD). When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected. Positive or negative surprises in Chinese growth data, therefore, often have a direct impact on the Australian Dollar and its pairs. How does the price of Iron Ore impact the Australian Dollar? Iron Ore is Australia’s largest export, accounting for $118 billion a year according to data from 2021, with China as its primary destination. The price of Iron Ore, therefore, can be a driver of the Australian Dollar. Generally, if the price of Iron Ore rises, AUD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Iron Ore falls. Higher Iron Ore prices also tend to result in a greater likelihood of a positive Trade Balance for Australia, which is also positive of the AUD. How does the Trade Balance impact the Australian Dollar? The Trade Balance, which is the difference between what a country earns from its exports versus what it pays for its imports, is another factor that can influence the value of the Australian Dollar. If Australia produces highly sought after exports, then its currency will gain in value purely from the surplus demand created from foreign buyers seeking to purchase its exports versus what it spends to purchase imports. Therefore, a positive net Trade Balance strengthens the AUD, with the opposite effect if the Trade Balance is negative.

On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8909 compared to the previous day's fix of 6.8961 and 6.8798 Reuters estimate.

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EUR/USD ticks slightly lower after posting gains over the previous two sessions, hovering near 1.1530 during Asian trading hours on Wednesday.

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The pair shows limited movement as the US Dollar (USD) holds steady, with investors remaining cautious ahead of the Federal Reserve’s (Fed) policy decision scheduled for later in the day.Markets widely anticipate that the Federal Reserve will keep its benchmark interest rate unchanged within the 3.50%–3.75% range for March, according to the CME FedWatch Tool. If the Fed opts to hold rates steady, it would mark the second consecutive pause, reflecting a cautious stance amid increasing economic and geopolitical uncertainty.Traders are particularly focused on guidance from Fed Chair Jerome Powell regarding how the recent surge in oil prices may influence the central bank’s policy outlook. Crude oil prices have continued to climb against the backdrop of persistent Middle East tensions, while US allies have resisted President Donald Trump’s request to assist in securing shipping routes through the strategically vital Strait of Hormuz.In a further escalation, the US military announced that it had targeted Iranian sites along the country’s coastline near the Strait of Hormuz, citing threats posed by Iranian anti-ship missiles to international shipping, according to Reuters. Separately, Israel stated that it had killed senior Iranian figures, including top security official Ali Larijani and Basij force chief Gholamreza Soleimani, in recent airstrikes, as reported by the BBC.Rising energy prices are adding to global inflationary pressures, placing the European Central Bank (ECB) in a more challenging position. The ECB is set to announce its policy decision on Thursday and is also expected to keep its benchmark “Rate On Deposit Facility” unchanged at 2.0% in March.Prior to the escalation in geopolitical tensions, markets had expected the ECB to remain on hold through 2026, supported by officials’ confidence that inflation was under control and policy settings were appropriate. However, the outlook has shifted notably, with traders now pricing in the possibility of a rate hike as early as July. ECB Governing Council member Peter Kazimir has also indicated that policymakers could consider raising rates sooner than previously anticipated. Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%). What is the ECB and how does it impact the Euro? The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. How does inflation data impact the value of the Euro? Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money. How does economic data influence the value of the Euro? Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy. How does the Trade Balance impact the Euro? Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

Silver (XAG/USD) lacks a firm intraday direction and oscillates in a narrow range during the Asian session on Wednesday as traders opt to wait on the sidelines ahead of the crucial FOMC rate decision.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}Silver struggles to gain any meaningful traction as traders keenly await the FOMC decision.The recent breakdown below a one-month-old ascending trend-line favors bearish traders.The said support breakpoint coincides with the 200-SMA on H4 and should cap any recovery.Silver (XAG/USD) lacks a firm intraday direction and oscillates in a narrow range during the Asian session on Wednesday as traders opt to wait on the sidelines ahead of the crucial FOMC rate decision. The white metal currently trades around the $79.35 area, nearly unchanged for the day, although the near-term bias seems tilted in favor of bearish traders.The upward sloping trend line from $66.65 has been decisively broken around $83.45, reinforcing a shift toward downside risk. Moreover, the XAG/USD holds below the rising 200-period Simple Moving Average (SMA) on the 4-hour chart near $83.00, signaling that the broader uptrend is under pressure while not yet fully reversed.Meanwhile, the Moving Average Convergence Divergence (MACD) line has recovered toward the zero line and signal line, but with only marginal positive readings, it hints at fading downside momentum rather than a clear bullish reversal. The Relative Strength Index (RSI) around 38 stays below the 50 midline, consistent with prevailing selling pressure despite the recent loss of downside speed.Immediate resistance emerges at the broken trend-line and 200-period SMA area around $83.00–$83.50, where a confluence of dynamic and former structural support now caps recovery attempts. A sustained break above that zone would open the way toward the mid-$86.00 region, where recent consolidation highs could attract renewed supply.On the downside, initial support sits near $79.00, in line with the latest base formation, followed by the $78.00 area as the next cushion if bears extend control. A clear drop through $78.00 would expose deeper retracement levels toward the mid-$76.00 region, whereas holding above $79.00 would keep the metal in a consolidative pause within a broader corrective downswing.(The technical analysis of this story was written with the help of an AI tool.)XAG/USD 4-hour chart Silver FAQs Why do people invest in Silver? Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets. Which factors influence Silver prices? Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices. How does industrial demand affect Silver prices? Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices. How do Silver prices react to Gold’s moves? Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.

The United States military said that it targeted sites along Iran’s coastline near the Strait of Hormuz, one of the world’s most critical energy chokepoints, because Iranian anti-ship missiles posed a risk to international shipping there, Reuters reported on Wednesday.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}} The United States military said that it targeted sites along Iran’s coastline near the Strait of Hormuz, one of the world’s most critical energy chokepoints, because Iranian anti-ship missiles posed a risk to international shipping there, Reuters reported on Wednesday."Hours ago, U.S. forces successfully employed multiple 5,000-pound deep penetrator munitions on hardened Iranian missile sites along Iran’s coastline near the Strait of Hormuz," US Central Command (CENTCOM) said in a statement on the US social media company X’s platform.Market reactionAt the time of writing, the West Texas Intermediate (WTI) is down 0.31% on the day at $94.67. WTI Oil FAQs What is WTI Oil? WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. What factors drive the price of WTI Oil? Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa. How does inventory data impact the price of WTI Oil The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency. How does OPEC influence the price of WTI Oil? OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $95.00 during the early Asian trading hours on Wednesday. The WTI price climbs amid intensifying Middle East conflict and severe supply disruptions.

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The WTI price climbs amid intensifying Middle East conflict and severe supply disruptions. Traders brace for the release of the US Energy Information Administration (EIA) report, which will be published later on Wednesday. Iran carried out attacks on production facilities in the United Arab Emirates (UAE) and Iraq on Tuesday. The Guardian said this is the first time since the start of the war with the US and Israel that Iran has successfully targeted oil and gas production facilities rather than just refineries, terminals and storage.Additionally, the Israeli military said Iran's top security official, Ali Larijani, and the head of the paramilitary Basij force, Gholamreza Soleimani, have been killed in Israeli air strikes. This raises fears of further retaliation and deeper supply cuts, which could boost the WTI price in the near term. On the other hand, a significant surge in U.S. crude oil inventories might cap the upside for the WTI. According to the American Petroleum Institute (API) weekly report, crude oil stockpiles in the US for the week ending March 13 climbed by 6.6 million barrels, compared to a fall of 1.7 million barrels in the previous week. The market consensus was for a decline of 600,000 barrels.  WTI Oil FAQs What is WTI Oil? WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. What factors drive the price of WTI Oil? Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa. How does inventory data impact the price of WTI Oil The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency. How does OPEC influence the price of WTI Oil? OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.

Australia Westpac Leading Index (MoM) declined to -0.1% in February from previous -0.04%

Japan Adjusted Merchandise Trade Balance: ¥-374.2B (February) vs previous ¥455.5B

Japan Merchandise Trade Balance Total above expectations (¥-483.2B) in February: Actual (¥57.3B)

Japan Imports (YoY) came in at 10.2%, below expectations (11.5%) in February

Japan Exports (YoY) came in at 4.2%, above expectations (1.6%) in February

The Israeli military said Iran's top security official, Ali Larijani, and the head of the paramilitary Basij force, Gholamreza Soleimani, have been killed in Israeli air strikes, BBC reported on Tuesday.

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WTI Oil FAQs What is WTI Oil? WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. What factors drive the price of WTI Oil? Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa. How does inventory data impact the price of WTI Oil The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency. How does OPEC influence the price of WTI Oil? OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.

Russia has been expanding its ‌intelligence sharing and military cooperation with Iran, providing satellite imagery and improved drone technology to aid Tehran’s targeting of US forces in the ‌region, the Wall Street Journal reported on Tuesday.

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WTI Oil FAQs What is WTI Oil? WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. What factors drive the price of WTI Oil? Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa. How does inventory data impact the price of WTI Oil The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency. How does OPEC influence the price of WTI Oil? OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.

Gold price (XAU/USD) trades on a flat note near the $5,000 psychological level during the early Asian session on Wednesday. Traders are cautious ahead of the US Federal Reserve (Fed) interest rate decision. 

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Israel said it killed Iran’s security chief, Ali Larijani. The development came after Tehran set a massive natural gas field in the United Arab Emirates (UAE) ablaze overnight. US President Donald Trump threatened to expand strikes on Kharg Island, Iran’s main export hub. Rising tensions in the Middle East, specifically involving Iran and the UAE, could boost a traditional safe-haven asset such as yellow metal. Fears that surging crude oil prices will lead to a rise in inflation have dampened expectations for US interest rate cuts in the near term. This, in turn, could weigh on a non-yielding asset. Goldman Sachs economists predicted rate cuts in September and December, versus June and September previously."With higher oil prices comes higher inflation. If we do have higher inflation, central banks are not going to be as motivated as they were six months ago to cut rates, which is a negative for gold prices," said Bob Haberkorn, senior market strategist at RJO Futures.The Fed is widely expected to hold interest rates steady at its current target range of 3.50% to 3.75% during the March meeting on Wednesday. Traders will take more cues from Fed Chair Jerome Powell’s remarks after the rate decision. Any hawkish comments from Powell could lift the US Dollar (USD) and undermine the USD-denominated commodity price in the near term.  Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
 

South Korea Unemployment Rate down to 2.9% in February from previous 3%

The Pound Sterling edged higher for a second session as traders brace for Wednesday's Fed hold and Thursday's BoE rate decision.

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The pair has found a floor between 1.3250 and 1.3300 after sliding to a three-month low close to 1.3220 late last week, though it remains below both its key daily moving averages. The two-day bounce has produced a pair of modestly bullish candles, but price is still well within the broader sell-off from the late-January high near 1.3870.Wednesday brings the Federal Reserve's (Fed) March decision, where the central bank is all but certain to keep interest rates on hold. The focus falls squarely on the updated Summary of Economic Projections (SEP) and dot plot, with the Iran conflict and surging energy prices complicating the current path toward further rate cuts. Futures pricing has shifted sharply since the war began, with traders now expecting only one cut this year, likely in December, compared with two or three before the conflict escalated. Chair Jerome Powell's press conference, one of his last before stepping down in May, will be watched for any signal on how the Federal Open Market Committee (FOMC) is weighing the oil shock against a softening labour market.Thursday is equally consequential for the Pound. UK employment data lands first, with the ILO unemployment rate forecast to tick higher to 5.3% from 5.2% and average earnings expected to cool to 3.9% from 4.2%. The Bank of England (BoE) rate decision follows at noon, where the Monetary Policy Committee (MPC) is expected to hold at 3.75% in a 7-2 vote. Just weeks ago, markets priced an 80% chance of a March cut; the Iran-driven energy shock has reversed that entirely. The vote split will be closely watched, with a 6-3 outcome signalling more dovish pressure than the consensus 7-2.GBP/USD daily chartTechnical AnalysisIn the daily chart, GBP/USD trades at 1.3361. The pair holds just above the 200-day exponential moving average near 1.3375, while price remains capped well below the 50-day EMA around 1.3460, keeping the near-term tone mildly bearish within a broader range. The recent sequence of lower closes from the mid-1.36s toward the low 1.33s confirms selling pressure, though the Stochastic oscillator stabilising in the high-20s suggests downside momentum is losing force rather than accelerating.Immediate resistance emerges at the 1.3400/1.3420 area, with a break above exposing the 1.3460 region around the 50-day EMA. A daily close above that latter barrier would be needed to ease the downside bias and open the way toward 1.3550. On the downside, initial support stands at the recent 1.3220 low, followed by the 1.3150 area if sellers regain control. A sustained move below 1.3220 would confirm a continuation of the bearish phase toward progressively lower levels.(The technical analysis of this story was written with the help of an AI tool.) Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

USD/JPY fell less than 0.1% on Tuesday, settling close to 158.90 in a narrow, directionless session.

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It was the second consecutive day of losses from last week's year-to-date high around 159.75, with a small-bodied candle reflecting the market's reluctance to push through the 160.00 level ahead of back-to-back central bank decisions.The Federal Reserve (Fed) is all but certain to hold its policy rate at 3.75% on Wednesday, with markets pricing near-zero odds of a move. Attention will fall on the updated Summary of Economic Projections (SEP) and Chair Jerome Powell's press conference, where any shift in the median 2026 cut projection could jolt the US Dollar. With just 22 basis points of cuts now priced across the full year, even a marginally dovish tilt in the dot plot would carry significant weight.The Bank of Japan (BoJ) follows on Thursday, with its policy rate also expected to hold at 0.75%. The central bank is likely to flag elevated energy prices tied to the Strait of Hormuz closure as a downside risk to Japan's growth outlook, potentially clouding the case for near-term tightening. Prime Minister Sanae Takaichi's pro-stimulus stance continues to complicate the BoJ's room to move, even as core inflation holds above target and wage growth remains firm.USD/JPY daily chartTechnical AnalysisIn the daily chart, USD/JPY trades at 158.93. The near-term bias is bullish as spot holds well above the rising 50-day EMA near 156.50 and the 200-day EMA just below 152.70, confirming an intact medium-term uptrend. Price action has recovered swiftly from the early-month dip toward 152.70, and the pair is consolidating just under last week’s highs, keeping dip-buying interest in control. The Stochastic oscillator remains deep in overbought territory above 90, flagging strong upside momentum but also warning that upside extensions risk exhaustion if fresh highs fail to attract follow-through demand.Initial support emerges at 158.00, where minor recent congestion aligns with the short-term trend structure, followed by the 50-day EMA around 156.50 as a more important downside pivot. A break below that area would expose the 154.30 region as the next support zone and then the 200-day EMA near 152.70. On the upside, immediate resistance stands at 159.50, just ahead of the recent peak near 159.75; a daily close above this band would open the way toward the 160.50 region. As long as the pair holds above 156.50, pullbacks are likely to be treated as corrections within the prevailing bullish trend.(The technical analysis of this story was written with the help of an AI tool.) Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. How do the decisions of the Bank of Japan impact the Japanese Yen? One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen. How does the differential between Japanese and US bond yields impact the Japanese Yen? Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential. How does broader risk sentiment impact the Japanese Yen? The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.

New Zealand Westpac Consumer Survey up to 94.7 in 4Q from previous 90.9

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