The GBP/USD pair halts its advance on Wednesday and remains steady around 1.3570 as optimism about a resumption of US-Iran talks has tempered. At the same time, US equities extended their gains, and the Greenback seems to have bottomed after hitting a six-week low.
West Texas Intermediate (WTI) US Oil trades around $89.10 on Wednesday at the time of writing, remaining broadly stable on the day after earlier falling to a three-week low near $85.
The AUD/USD surged near the 0.7160 price region on Wednesday, as investors positioned ahead of key Australian labor market data and continued to assess the broader US Dollar (USD) backdrop amid mixed United States (US) macro signals.
ING analysts Muhammet Mercan, Frantisek Taborsky and James Wilson note that the Turkish Lira (TRY) has stabilised after US-Iran tensions eased, with the Central Bank of Turkey (CBT) maintaining market confidence and a steady USD/TRY path.
Gold (XAU/USD) holds modest losses on Wednesday even as the US Dollar (USD) remains under broad pressure, while evolving Middle East developments continue to shape broader market sentiment.
EUR/USD regains ground on Wednesday, erasing earlier losses as the US Dollar (USD) continues to weaken, allowing the Euro (EUR) to extend gains for an eighth consecutive day amid improving risk sentiment driven by hopes of renewed US-Iran talks.
Joachim Nagel, President of the Bundesbank and member of the European Central Bank (ECB) spoke in an interview with Bloomberg on Wednesday. He said that questions about the Strait of Hormuz are essential, as we're between the baseline and an adverse scenario.
Rabobank Senior FX Strategist Jane Foley notes that while risk sentiment has improved and the Dollar’s safe-haven bid has faded, the physical Oil market tells a different story.
Silver (XAG/USD) trades with a positive bias on Wednesday but lacks strong upside momentum as traders continue to monitor evolving geopolitical developments in the Middle East. At the time of writing, XAG/USD is trading around $80, hovering near one-month highs.
DBS Group Research economists Radhika Rao and Chua Han Teng assess how ASEAN-6 and India will respond to higher energy prices and renewed inflation pressures.
ING’s Bert Colijn notes that Eurozone industrial production rose just 0.4% in February versus January, leaving output below most of 2025 levels. He highlights that higher energy prices and the Middle East war are set to weigh further on energy‑intensive industry and investment.
United States EIA Crude Oil Stocks Change came in at -0.913M, below expectations (0.2M) in April 10
