Forex
USD/CAD trades with a downside bias on Wednesday, as the US Dollar (USD) comes under broad selling pressure following a temporary ceasefire agreement between the United States and Iran. At the time of writing, the pair is trading around 1.3847, extending losses for the third straight day.
Forex
Scotiabank strategists Shaun Osborne and Eric Theoret note that the Pound (GBP) is a strong G10 performer, gaining about 1.1% on sentiment-driven buying and pushing to the top of its late-February range.
Mid-Week update for North-American Markets – The Ceasefire is officially in effect, bringing ecstatic flows into Markets and leading rough drops in the CAD and USD. Taking a close look at NA index and currency performance combined with a USD/CAD intraday chart to spot what's next for American Markets.
Commodities
Gold's "war premium" is fading after the US-Iran ceasefire sparked a rally, now stalled near $4900 resistance. The metal faces binary risks: a truce failure could send it to $4500, while strong net-long sentiment suggests a near-term slide. Dollar softness and silver's 7% rally provide underlying support.
Forex
The NZD/USD pair is up 1.6% to near 0.5830 in the European trading session on Wednesday.
Forex
The Australian Dollar (AUD) is trading higher against the US Dollar (USD) for the third consecutive day on Wednesday, boosted by investors’ optimism about the ceasefire in Iran.
Forex
The EUR/USD pair trades 0.75% higher to near 1.1700 during the European trading session on Wednesday. The major currency pair strengthens as the US Dollar (USD) underperforms amid an upbeat market mood.
Crude prices tumbled on Wednesday after the announcement of a two-week ceasefire in the Iran war. The price of the US benchmark West Texas Intermediate (WTI) barrel plunged more than 15% from Tuesday’s highs above $106.00 to consolidate around $90.00 at the time of writing.
Forex
The USD/CAD pair extends its weekly downtrend for the third straight day and dives to a nearly two-week low on Wednesday, though it lacks follow-through selling. Spot prices trade around mid-1.3800s, down nearly 0.30% for the day, amid mixed fundamental cues.
Commodities
A two-week US-Iran ceasefire has led to a massive relief rally in global markets, causing US Crude to tumble 15% and equities to surge. The de-escalation unwinds the "fear trade" and provides a cooling period for "War Inflation". While Gold remains resilient, the pause offers a critical window for stability, though traders should remain cautious as geopolitical headlines could quickly shift sentiment
