The USD/CAD pair declines to around 1.3835 during the early Asian trading hours on Wednesday. The US Dollar (USD) weakens against the Canadian Dollar (CAD) after Iran agrees to a two-week ceasefire with the United States (US).
Despite the United States (US) and Iran agreeing to a ceasefire for two weeks, Iranian attacks continue in the Middle East and on Israel as missile alerts keep sounding.
Japan Trade Balance - BOP Basis dipped from previous ¥3145B to ¥2709B in February
Japan Trade Balance - BOP Basis declined to ¥2.709B in February from previous ¥3145B
Silver (XAG/USD) rallies to a fresh weekly high during the Asian session on Wednesday, with bulls now looking to build on the momentum beyond the $77.00 mark amid a broad-based US Dollar (USD) selloff.
Gold price (XAU/USD) rises to near $4,815 during the early Asian session on Wednesday. The precious metal attracts some buyers after US President Donald Trump agrees to suspend Iran bombing for two weeks.
GBP/USD ripped higher on Tuesday as the US Dollar buckled under a wave of risk-on positioning triggered by President Trump's announcement of a two-week ceasefire with Iran.
Japan Current Account n.s.a. below forecasts (¥3549B) in February: Actual (¥3.933B)
Iran’s Foreign Minister, Abbas Araghchi, said on Tuesday that safe passage of Hormuz will be possible for two weeks. This statement came after US President Donald Trump agreed to a two-week ceasefire with Iran.
An Iranian official stated that it has accepted a two-week ceasefire after US President Donald Trump said he would suspend attacks, subject to Tehran agreeing to fully reopen the Strait of Hormuz.
Japan Labor Cash Earnings (YoY) came in at 3.3%, above forecasts (2.7%) in February
WTI Crude Oil plunged from above $106 to below $90 per barrel on Tuesday after President Trump announced a two-week suspension of military operations against Iran, though markets had already been selling Oil throughout the session as traders bet he would blink on his own 00:00 GMT Wednesday deadline
