February 25th 2026 North-American Session Recap – A strict risk-on session brings back hopes for better days ahead. Too soon? Check up the Daily asset and FX performance, what changed fundamentally and what's coming up on Monday.
Forex
The Australian Dollar (AUD) skyrocketed to near a two-week high after a hotter-than-expected January inflation report, fueling speculation of additional rate hikes by the Reserve Bank of Australia (RBA).
Crypto
Crypto Rebound: BTC, Solana and ETH stage a double-bottom bounce as a landmark lawsuit accuses Jane Street of insider trading during the 2022 Terra collapse and brings relief to the Crypto Market. While the 10:00 AM slam narrative shifts, we analyze the impact of the Tech rebound and the first net ETF inflows in weeks.
Commodities
Gold (XAU/USD) breaches $5200/oz on a perfect storm of geopolitical risks (US-Iran talks), trade uncertainty, and rising rate cut bets. The rally faces a test from NVIDIA's earnings which could impact sentiment. Technically, it eyes $5300 but must hold $5200. The US Dollar Index retreat is aiding the climb. Key data: PPI on Friday.
Indices
S&P 500, Dow Jones, Nasdaq Analysis and Trading Levels: Tech leads a major breakout as Nvidia's Q4 earnings (est. $65.7B) take center stage. With duties on Asian imports slashed from 30% to 15%, we analyze the relief rally in hardware and crypto ahead of tomorrow's final round of US-Iran nuclear talks in Geneva.
Forex
EUR/USD regains traction on Wednesday as the US Dollar’s (USD) upside momentum fades, allowing the Euro (EUR) to trim its earlier intraday losses. At the time of writing, EUR/USD is trading around 1.1805, rebounding from the daily low near 1.1771.
Forex
The Pound Sterling (GBP) advances during the North American session on Wednesday as the Greenback remains unchanged amid uncertainty over US trade policies, with investors awaiting results of one of the seven megacap companies after the Wall Street close.
Forex
HSBC Global Research argues that GBP/USD looks expensive versus rate differentials as markets increasingly price a more dovish Bank of England. Sterling remains pressured after a narrow February vote to hold policy.
Mid-Week update for North-American Markets – Tariff anxiety keeps its grip on Markets. 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.
Forex
HSBC Global Research views USD/CAD as largely driven by the broader Dollar trend, with the pair trading slightly below levels implied by rate spreads, reflecting Canadian Dollar resilience. Elevated Oil prices linked to Middle East tensions are supportive.
