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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.
US President Donald Trump announced on Truth Social that he had agreed to suspend attacks on Iran for a period of two weeks, provided that Tehran ensures the “complete, immediate, and safe opening of the Strait of Hormuz.” Meanwhile, Tehran has agreed that safe transit through the Strait can be maintained during this period in coordination with Iranian armed forces.
In reaction, the US Dollar slid to one-month lows as traders unwound long positions after the ceasefire reduced immediate geopolitical risks. The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, is trading around 98.80, down nearly 0.85% on the day.
However, uncertainty remains elevated as reports of airstrikes between Israel and Lebanon continue to emerge. According to Iran’s Tasnim News Agency, citing an unnamed source, Tehran has warned it could withdraw from the ceasefire agreement if attacks on Lebanon persist.
In a separate development, Iran’s Islamic Revolutionary Guard Corps (IRGC) cautioned that any entry of foreign aircraft into its airspace would be considered a breach of the ceasefire.
Against this backdrop, further downside in USD/CAD could remain limited as lingering geopolitical risks and uncertainty around the durability of the ceasefire keep markets cautious.
On the Canadian Dollar side, the Loonie shows a muted reaction to Oil price moves, as broader US Dollar dynamics continue to dominate price action.
On the monetary policy front, the earlier surge in Oil prices raised concerns about inflation, reinforcing expectations that the Federal Reserve (Fed) and the Bank of Canada (BoC) may keep interest rates higher for longer or even raise rates. However, the recent pullback in Crude is now easing some of those pressures, prompting markets to reassess the policy outlook.
Looking ahead, attention will also turn to upcoming economic data and central bank signals, with the Fed’s meeting minutes due later on Wednesday, followed by US PCE on Thursday and US CPI and Canada’s jobs data on Friday.
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Canadian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.84% | -1.10% | -0.79% | -0.27% | -1.19% | -1.82% | -1.05% | |
| EUR | 0.84% | -0.28% | 0.04% | 0.55% | -0.34% | -1.02% | -0.23% | |
| GBP | 1.10% | 0.28% | 0.32% | 0.84% | -0.04% | -0.71% | 0.05% | |
| JPY | 0.79% | -0.04% | -0.32% | 0.52% | -0.37% | -1.03% | -0.26% | |
| CAD | 0.27% | -0.55% | -0.84% | -0.52% | -0.89% | -1.53% | -0.78% | |
| AUD | 1.19% | 0.34% | 0.04% | 0.37% | 0.89% | -0.67% | 0.10% | |
| NZD | 1.82% | 1.02% | 0.71% | 1.03% | 1.53% | 0.67% | 0.78% | |
| CHF | 1.05% | 0.23% | -0.05% | 0.26% | 0.78% | -0.10% | -0.78% |
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).
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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.
英镑（GBP）周三上涨，本周连续第三个交易日上涨，涨幅超过1.10%，原因是美元（USD）普遍走弱，市场风险偏好改善，受美国与伊朗两周停火影响所致。
The Pound Sterling (GBP) rallies on Wednesday, advancing for the third straight day this week, up more than 1.10% due to broad US Dollar (USD) weakness, sparked by an improvement in risk appetite following a two-week ceasefire between the US and Iran.
德国商业银行（Commerzbank）的阮秋兰（Thu Lan Nguyen）指出，布伦特原油价格因美国与伊朗达成为期两周的停火协议及霍尔木兹海峡重新开放的消息下跌了15美元，但仍在95美元附近交易，远高于战争爆发前的水平。她认为，这一价格水平是合理的，因为持续存在的地缘政治和基础设施风险，供应中断和重建需求可能会支撑布伦特油价。
Commerzbank’s Thu Lan Nguyen notes that Brent prices dropped by USD 15 on news of a two‑week U.S.–Iran ceasefire and reopening of the Strait of Hormuz, but still trade near USD 95, well above pre‑war levels.
据路透社报道，伊朗法尔斯通讯社周三报道，以色列违反停火协议后，经过霍尔木兹海峡的油轮已被拦截。
Iran's Fars News Agency reported on Wednesday that oil tankers passing through the Strait of Hormuz have been stopped after Israel breached the ceasefire, per Reuters.
法国巴黎银行分析师认为，与2022年相比，欧元区需求疲软有助于抑制通胀，尽管供应限制仍高于历史平均水平。他们指出，调查数据显示自2024年年中以来需求限制占主导地位，使通胀率回落至欧洲央行（ECB）2%的目标水平，尽管近期能源冲击和投入价格上涨可能会在后期推高核心通胀。
BNP Paribas analysts argue that weaker demand in the Eurozone compared to 2022 is helping to contain inflation, even as supply constraints remain above historical averages.