West Texas Intermediate (WTI) – the benchmark US Crude Oil price – plummets to a nearly two-week trough during the Asian session on Wednesday in reaction to news that the US and Iran have agreed to a two-week ceasefire.
The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Wednesday at 6.8680 compared to the previous day's fix of 6.8854 and 6.8369 Reuters estimate.
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 99.05 during the Asian trading hours on Wednesday.
The USD/CHF pair attracts heavy selling during the Asian session on Wednesday and dives to a two-week low amid a broadly weaker US Dollar (USD).
NZD/USD extends its winning streak for the third successive day, trading around 0.5790 during the Asian hours on Wednesday. The pair appreciates amid risk-on sentiment after US President Donald Trump agrees to suspend Iran bombing for two weeks.
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.
