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NZD/USD Retreats Below 0.5700 on Middle East Tensions
The New Zealand Dollar gave up earlier gains versus the US Dollar, falling back below 0.5700 after rejection at 0.5725. Renewed tensions in the Middle East weighed on the pair during the European session.
TD Securities: FOMC Minutes to Highlight Hawkish Debate
TD Securities expects the June FOMC minutes to provide deeper insight into the hawkish policy debate, more than what was conveyed in the press conference.
Gold Slides Below $4,050 as Trump Ends Iran Pact, Markets Eye Fed Minutes
Gold (XAU/USD) dropped 1.40% to around $4,050 on Wednesday as the US Dollar strengthened following President Trump's cancellation of an Iran-related memorandum. Traders are now focused on the upcoming Federal Reserve meeting minutes.
EUR/USD Hesitates Above 1.1400 as Geopolitical Risks Mount
The Euro shows marginal losses against the US Dollar on Wednesday, hovering just above 1.1400 after rejection at higher levels amid rising geopolitical tensions.
Silver Falls 2.34% to $58.56, FXStreet Data Shows
Silver (XAG/USD) fell on Wednesday, trading at $58.56 per troy ounce, down 2.34% from the previous $59.97, according to FXStreet data.
GBP/USD Drops to 1.3352 as Geopolitical Tensions Rise
The pound fell to 1.3352 against the dollar on Wednesday as escalating tensions in the Strait of Hormuz and Iranian attacks on facilities in Kuwait and Bahrain weakened risk appetite.
AUD Slips as Trump Signals End to Iran MoU
The Australian Dollar reversed early gains, falling to near 0.6915 against the US Dollar after Donald Trump indicated that the Memorandum of Understanding with Iran may be over.
AUD/USD Pullback Within Broader Upside Risk – UOB
United Overseas Bank analyst Quek Ser Leang says the recent AUD/USD pullback is part of a broader upside risk against the US dollar, after the pair failed to clear resistance.
Chinese Yuan Holds Near 6.8000 as PBoC Targets Hong Kong Hub
The offshore Chinese yuan (CNH) remains stable around the 6.8000 level despite a series of structural measures from the People's Bank of China aimed at strengthening Hong Kong as a global offshore yuan hub.
GBP/JPY Nears 217.00, Eyes All-Time High at 217.24
The British Pound continues its uptrend against the Japanese Yen, approaching the 217.00 level and targeting the all-time high of 217.24.
FOMC Minutes to Reinforce Hawkish Message, Support Dollar
Markets are not overly concerned with US-Iran tensions, while focus shifts to the Fed's June meeting minutes, expected to reiterate a hawkish stance and underpin the US dollar.
UOB: USD/JPY Bias Tilted Higher, Resistance at 163.00
United Overseas Bank notes USD/JPY is trading firmly after a sharp rise, with intraday bias pointing toward 162.70 and major resistance expected at 163.00.
DXY Stays Range-Bound Near 101.00 as War Talks Continue
The US Dollar Index (DXY) retreated from 101.20 resistance during Wednesday's European session, pulling back to just below 101.00 as hopes for a negotiated end to the war support a range-bound trade.
Dollar Treads Water Between Oil Spike and Uninspiring Fed Minutes
The dollar remains range-bound as rising oil prices from US-Iran tensions offer a mechanical bid, but the greenback fails to trade as a full-blown safe haven, while stale Fed minutes provide no new catalyst.
RBNZ Hikes Rate 25 bps to 2.50%, NZD Strengthens – MUFG
The Reserve Bank of New Zealand raised its policy rate by 25 basis points to 2.50%, its first hike since May 2023. The New Zealand Dollar rallied on the decision, but MUFG sees only two more increases by March.
GBP/USD Momentum Fades After Testing Resistance – UOB
United Overseas Bank (UOB) analyst Quek Ser Leang reports that GBP/USD failed to sustain its recent strong rally, pulling back after testing a key resistance level.
USD/JPY Stays Below 162.40 Resistance on Middle East Tensions, BoJ Dovishness
The US dollar strengthens for a fourth straight session against the Japanese yen, with gains capped below the 162.40 resistance level as resurgent Middle East hostilities and dovish Bank of Japan remarks support the greenback.
RBNZ Hikes OCR to 2.5%, Commerzbank Warns NZD Vulnerable
The Reserve Bank of New Zealand raised its official cash rate to 2.5%, but Commerzbank analyst Volkmar Baur warns the New Zealand Dollar remains vulnerable despite the hawkish move.
Gold Dips to $4,100 as Market Awaits Fed Minutes
Gold pulls back from a recovery rally above $4,100, with traders eyeing the Fed's June meeting minutes for direction.
China Considers AI Restrictions in Retaliation; RBNZ Hikes Rates
China is reportedly considering its own restrictions on artificial intelligence in response to US actions. Meanwhile, US-Iran strikes escalate despite ongoing talks, and the Reserve Bank of New Zealand raised interest rates for the first time in three years.
Euro Gains as Dollar Sidelined Amid Cautious Markets
EUR/USD trades around 1.1410 during Asian hours as the euro gains against a sideways dollar amid cautious market sentiment.
Indian Rupee Gains Against Dollar Despite Rising Oil Prices
The Indian Rupee edged higher against the US Dollar on Wednesday, with USD/INR slipping to near 95.00, even as oil prices rose following US attacks on Iran.
NZD/USD Rises on Hawkish RBNZ Hike, Tests 0.5710-0.5715
The NZD/USD pair extended gains after the RBNZ delivered its first rate hike in three years, reclaiming the 0.5700 level and approaching a key resistance zone at 0.5710-0.5715.
Silver Climbs Above $60.00 as Dollar Softens Ahead of Fed Minutes
Silver price edged higher to near $60.35, breaking a two-day losing streak, as the US Dollar weakened ahead of the release of the June FOMC meeting minutes.