Daily market news

EUR/GBP remains choppy on Wednesday as markets track Middle East developments, while cautious optimism prevails on expectations that the United States (US) and Iran could reach a deal through renewed negotiations.

AUD/USD rises on Wednesday and trades around 0.7140 at the time of writing, up 0.28% on the day. The pair benefits from an improved risk environment after reports suggested that new discussions could take place between the United States (US) and Iran before the two-week ceasefire expires.

West Texas Intermediate (WTI), futures on NYMEX, recovers its early losses and turns positive around $90 during the European trading session on Wednesday.

The US Dollar (USD) is trimming some losses against the Canadian Dollar (CAD) on Wednesday. The pair trades at 1.3775 at the time of writing, after bouncing up from Tuesday’s lows near 1.3730, although it remains more than 1% below last week’s highs.

The (EUR) edges down against the US Dollar (USD) on Wednesday for the fist time in the last eight days. The pair trades at 1.1685, at the time of writing, after having reached fresh six-week highs above 1.1810 on Tuesday.

United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann report that USD/JPY fell to 158.59 and closed at 158.77, with downside momentum starting to build.

Here is what you need to know on Wednesday, April 15:

The Australian Dollar (AUD) outperforms its major currency peers, trading 0.23% higher to near 0.7137 against the US Dollar (USD), during the early European session on Wednesday.

The USD/CHF pair trades flat around 0.7812 during the late Asian trading session on Wednesday, but is still close to its monthly low of 0.7790 posted the previous day.