Forex News
- USD/CHF accelerates its reversal below 0.7900 amid a higher risk appetite.
- A two-week ceasefire in Iran has boosted investors' mood.
- The pair has broken the bullish structure from late-February lows.
The US Dollar (USD) accelerated its reversal against the Swiss Franc (CHF) on Wednesday, as investors pared back US Dollar long positions following the announcement of a ceasefire in Iran. The pair’s reversal from weekly highs right above 0.8000 extended to session lows near 0.7870 before picking up to the 0.7890 area at the time of writing.
The Greenback tumbled across the board following news reporting that the US and Iran had reached an agreement to stop the hostilities for two weeks, and allow safe passage for Gas and Oil tankers through the Strait of Hormuz.
Technical Analysis: USD/CHF breaks the bullish trendline support
The USD/CHF has slipped back below the ascending trendline support, confirming the end of the bullish cycle from February 27 lows. and providing bears confidence for a deeper correction.
The Relative Strength Index (RSI) hovers near 30 after dropping from above 60, signaling building downside momentum. The Moving Average Convergence Divergence (MACD) indicator holds below its signal line in negative territory, endorsing the view that rallies toward the recent breakdown area will face selling pressure.
The pair is now featuring a frail recovery attempt, but the support area between the 50% Fibonacci retracement of the March rally and 0.7860 and March 23 lows at 0.7835 is likely to attract selling pressure. On the upside, previous support at 0.7905 (April 1 low) is likely to act now as resistance ahead of the broken trendline, now at 0.7965.
(The technical analysis of this story was written with the help of an AI tool.)
US Dollar Price Today
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 | -0.76% | -1.04% | -0.73% | -0.10% | -0.91% | -1.44% | -1.08% | |
| EUR | 0.76% | -0.30% | 0.02% | 0.66% | -0.17% | -0.74% | -0.34% | |
| GBP | 1.04% | 0.30% | 0.30% | 0.96% | 0.17% | -0.41% | -0.04% | |
| JPY | 0.73% | -0.02% | -0.30% | 0.64% | -0.15% | -0.72% | -0.34% | |
| CAD | 0.10% | -0.66% | -0.96% | -0.64% | -0.78% | -1.34% | -0.99% | |
| AUD | 0.91% | 0.17% | -0.17% | 0.15% | 0.78% | -0.58% | -0.20% | |
| NZD | 1.44% | 0.74% | 0.41% | 0.72% | 1.34% | 0.58% | 0.38% | |
| CHF | 1.08% | 0.34% | 0.04% | 0.34% | 0.99% | 0.20% | -0.38% |
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).
Commerzbank notes that the Dollar is selling off as risk sentiment improves, with the Euro rising close to 1.17 against the Dollar following the ceasefire news. The bank highlights that an extended ceasefire would make an April ECB rate hike unlikely and sees the €STR curve’s previously aggressive pricing as a backdrop for bullish steepening in Euro rates.
Dollar weakness lifts single currency
"Brent slides to $95, US Treasuries bull-steepen with 10y yields falling 6bp. Asian equities and e-minis rally with Stoxx future up some 5%. Dollar sells off with EUR rising close to $1.17."
"If the ceasefire gets extended, an ECB rate hike in April, and beyond, becomes unlikely. The €STR curve was pricing some 80bp of rate hikes yesterday, about the most since the war began, which should give rise to strong bullish steepening."
"Just before the Easter break, the ECB published a blog post with insights from their Bank Treasurer Survey on preferred reserve levels and their proprietary Securities Financing Transactions Data."
"While transparency remains patchy, the findings support our view that reserve scarcity is still a long way off. The ECB projects that, by the end of this year, banks accounting for 50% of total assets will reach their preferred reserve level, up from 26% 'now' (which we understand to refer to last October). Unfortunately, the ECB does not disclose the aggregate preferred reserve level, akin to the Preferred Minimum Range of Reserves (PMRR) revealed by the BoE."
"While this is probably towards the lower (or later) end of the scale, we feel affirmed in our view that the point at which reserve scarcity will cause upward pressure on rates and lead to banks returning to ECB operations on a larger scale is unlikely to be reached before next year."
"While repo markets remain calm for now, by the end of the year we believe this will become another argument for cheaper Schatz swap spreads."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
DBS Group Research’s Eugene Leow notes that Gold surged over 2% to above USD4800 after a two-week ceasefire between the US and Iran reduced immediate escalation risks. He highlights that the sustainability of this truce and the recovery of shipping volumes through the Strait of Hormuz will guide Gold’s next move, while structural demand, including continued PBoC buying, remains supportive.
Ceasefire reprices risk and supports bullion
"Gold rallied following this morning's announcement of a two-week ceasefire between the US and Iran."
"Looking ahead, the sustainability of this temporary truce will likely dictate the next directional move for gold."
"If vessel throughput normalises to a credible rate during this two-week window, it will establish a favorable foundation for a more definitive, long-term ceasefire that should continue to support gold's upward trajectory."
"Beyond these geopolitical swings, gold's structural demand remains robust. The PBoC extended its purchasing streak to a 17th consecutive month in March, adding 160,000 troy ounces to its reserves."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
- EUR/GBP depreciates for the third consecutive day, reaching session lows at 0.8700.
- A two-week ceasefire agreement between the US and Iran has boosted risk appetite.
- ECB speakers have reiterated the need for a tighter monetary policy.
The Euro (EUR) trades lower against the British Pound (GBP) for the third consecutive day on Wednesday, with bears testing support at 0.8700 at the time of writing. The Pound fares better than the common currency amid the positive market sentiment triggered by the ceasefire in Iran.
News that the US and Iran had reached a deal for a two-week ceasefire that includes the reopening of the critical Strait of Hormuz has boosted risk appetite on Wednesday, triggering sharp rallies of the Euro and the Pound against the safe-haven US Dollar.
The agreement arrived less than two hours before the US President Donald Trump’s deadline of Tuesday, 8:00 PM Easter time (00:00 GMT on Wednesday), and following a gloomy comment from the US president, who said that “a whole civilisation would die” if Iran failed to accept his demands.
With Macroeconomic events gaining prominence amid the ceasefire, data from the UK and the Euro Area have failed to cheer investors. UK housing prices contracted against expectations in March whole in the EU, German Factory Orders growth missed expectations, producer prices contracted further, and retail sales dropped.
Eurozone figures, however, relate to the month of February, before the start of Iran war and therefore, they have been practically ignored by the market.
On Tuesday, European Central Bank (ECB) officials, Dimitar Radev and Pierre Wunsch reiterated the bank’s concerns about growing inflationary risks, with the latter advocating for a rate hike as soon as in April. These comments contrast with the Bank of England’s “wait and see” stance,. and provides some support to the Euro.
Economic Indicator
Producer Price Index (MoM)
The Producer Price Index (PPI) released by the Eurostat is an index that measures the change in prices received by domestic producers of commodities in all stages of processing (crude materials, intermediate materials, and finished goods). Generally, a high reading is seen positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).
Read more.Last release: Wed Apr 08, 2026 09:00
Frequency: Monthly
Actual: -0.7%
Consensus: -0.7%
Previous: 0.7%
Source: Eurostat
Economic Indicator
Retail Sales (MoM)
The Retail Sales data, released by Eurostat on a monthly basis, measures the volume of retail sales in the Eurozone. It shows the performance of the retail sector in the short term, which accounts for around 5% of the total value added of the Eurozone economies. Retail Sales data is widely followed as an indicator of consumer spending. Percent changes reflect the rate of changes in such sales, with the MoM reading comparing sales volumes in the reference month with the prior month. Generally, a high reading is seen as bullish for the Euro (EUR), while a low reading is seen as bearish
Read more.Last release: Wed Apr 08, 2026 09:00
Frequency: Monthly
Actual: -0.2%
Consensus: -0.2%
Previous: -0.1%
Source: Eurostat
Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $76.91 per troy ounce, up 5.38% from the $72.98 it cost on Tuesday.
Silver prices have increased by 8.19% since the beginning of the year.
Unit measure | Silver Price Today in USD |
|---|---|
Troy Ounce | 76.91 |
1 Gram | 2.47 |
The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 62.35 on Wednesday, down from 64.48 on Tuesday.
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
(An automation tool was used in creating this post.)
- EUR/USD rallies to near 1.1700 as the US Dollar’s safe-haven demand diminishes.
- US President Trump suspends scheduled attacks on Iran as it agrees to reopen the Hormuz.
- Eurozone Retail Sales declines 0.2% MoM in February, in line with expectations.
The EUR/USD pair trades 0.75% higher to near 1.1700 during the European trading session on Wednesday. The major currency pair strengthens as the US Dollar (USD) underperforms amid an upbeat market mood.
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.75% | -1.04% | -0.78% | -0.16% | -0.97% | -1.51% | -1.16% | |
| EUR | 0.75% | -0.30% | -0.04% | 0.60% | -0.23% | -0.80% | -0.43% | |
| GBP | 1.04% | 0.30% | 0.26% | 0.89% | 0.09% | -0.48% | -0.13% | |
| JPY | 0.78% | 0.04% | -0.26% | 0.61% | -0.17% | -0.73% | -0.39% | |
| CAD | 0.16% | -0.60% | -0.89% | -0.61% | -0.78% | -1.33% | -1.00% | |
| AUD | 0.97% | 0.23% | -0.09% | 0.17% | 0.78% | -0.56% | -0.23% | |
| NZD | 1.51% | 0.80% | 0.48% | 0.73% | 1.33% | 0.56% | 0.34% | |
| CHF | 1.16% | 0.43% | 0.13% | 0.39% | 1.00% | 0.23% | -0.34% |
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).
In the European trade, S&P 500 futures are up over 2.5% to near 6,780, reflecting a strong risk appetite of investors. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.7% lower to near 98.80.
Market sentiment turns favorable for risk-sensitive assets on a temporary ceasefire between the United States and Iran. US President Donald Trump announced that he has suspended planned attacks on Iranian civilian infrastructure as Tehran has agreed to reopen the Strait of Hormuz.
On the macro front, Eurozone Retail Sales data contracts 0.2% Month-on-Month (MoM) in February, faster than the previous reading of 0.1%.
Going forward, investors will focus on negotiations between the US and Iran over the 10-point proposal shared by Tehran for the complete ceasefire.
EUR/USD technical analysis
EUR/USD trades sharply higher at around 1.1700 during the press time. The near-term bias is bullish as price extends above the descending support trend line of the Symmetrical Triangle formation from 1.1403 and holds over the 200-day exponential moving average clustered around 1.1560, indicating buyers control the pullbacks for now.
The latest RSI reading at 57 shows positive momentum without overbought conditions, reinforcing the upside tilt after the recovery from the mid-1.14s.
Initial support emerges at the trend-line area near 1.1600, with the 200-day EMA just beneath reinforcing this zone; a break below would expose the 1.1550 region as the next downside level. On the topside, the intraday high of 1.1708 is the immediate resistance, followed by the March high at around 1.1800, where a sustained break would confirm continuation of the nascent upswing.
(The technical analysis of this story was written with the help of an AI tool.)
US Dollar FAQs
The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away.
The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback.
In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar.
Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.
Brown Brothers Harriman’s (BBH) Elias Haddad highlights that NZD/USD has surged over 2% on improved risk sentiment and a hawkish hold from the RBNZ. The central bank kept the OCR at 2.25% but signalled that temporary inflation would allow gradual normalization, while warning that decisive hikes would be needed if second-round inflation effects or higher medium-term expectations emerge, suggesting markets may be overpricing the pace of tightening.
RBNZ stance underpins New Zealand Dollar
"NZD/USD surged by over 2% on a solid rebound in risk sentiment. The RBNZ delivered a hawkish hold."
"The RBNZ noted that if the increase in near-term inflation is temporary, the OCR can be normalized gradually to more neutral levels (RBNZ estimated neutral range is between 2.3% and 4.1%)."
"The swaps curve has more than fully priced in a 25bps OCR increase to 2.50% by September and a total of 100bps of hikes over the next twelve months. The latest US-Iran ceasefire agreement reduces the risk of a more persist energy shock and argues for a more gradual RBNZ rate hike cycle than markets imply."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
- EUR/JPY may rebound toward the upper ascending channel boundary around 185.70.
- The Relative Strength Index near 59 signals sustained buying pressure.
- The pair may find initial support at the nine-day EMA of 184.33.
EUR/JPY edges lower after two days of gains, trading around 185.00 during the European hours on Wednesday. The technical analysis of the daily chart suggests the currency cross is moving upwards within the ascending channel pattern, indicating bullish bias.
The near-term bias stays mildly bullish as the EUR/JPY cross holds comfortably above the 50-day Exponential Moving Average (EMA), while the nine-day EMA rises above the medium-term average, reinforcing a short-term uptrend within an established broader advance.
Momentum backs this tone, with the Relative Strength Index (RSI) around 59, holding above the 50 line and confirming persistent buying pressure rather than overbought excess.
The EUR/JPY cross may retest the immediate resistance at the upper ascending channel boundary around 185.70. Further advances above the channel would reinforce the bullish bias and lead the EUR/JPY cross to explore the region around the all-time high of 186.88, reached on January 23.
On the downside, the initial support lies at the nine-day EMA of 184.33. A break below the short-term average would weaken the bullish bias and lead the EUR/JPY cross to test the 50-day EMA at 183.58, followed by the lower boundary of the ascending channel around 183.00.
(The technical analysis of this story was written with the help of an AI tool.)
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.78% | -1.06% | -0.82% | -0.14% | -1.05% | -1.52% | -1.15% | |
| EUR | 0.78% | -0.30% | -0.04% | 0.63% | -0.28% | -0.78% | -0.39% | |
| GBP | 1.06% | 0.30% | 0.26% | 0.93% | 0.04% | -0.46% | -0.09% | |
| JPY | 0.82% | 0.04% | -0.26% | 0.68% | -0.20% | -0.69% | -0.32% | |
| CAD | 0.14% | -0.63% | -0.93% | -0.68% | -0.88% | -1.35% | -1.01% | |
| AUD | 1.05% | 0.28% | -0.04% | 0.20% | 0.88% | -0.49% | -0.13% | |
| NZD | 1.52% | 0.78% | 0.46% | 0.69% | 1.35% | 0.49% | 0.36% | |
| CHF | 1.15% | 0.39% | 0.09% | 0.32% | 1.01% | 0.13% | -0.36% |
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 Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
UOB’s Jester Koh notes that the Reserve Bank of India (RBI) kept the policy repo rate at 5.25% in April 2026 and retained a neutral stance. He highlights RBI’s new Gross Domestic Product (GDP) and Consumer Price Index (CPI) projections, flags growth downside and inflation upside risks, and expects the policy repo rate to remain unchanged at 5.25% through 2026 as policy flexibility is preserved.
RBI holds steady and keeps options open
"At its 8 Apr 2026 MPC meeting, the Reserve Bank of India (RBI) unanimously voted to keep the policy repo rate unchanged at 5.25%, in line with expectations of all 34 analysts surveyed by Bloomberg (including UOB). Accordingly, the standing deposit facility (SDF) and marginal standing facility (MSF) rates were also left unchanged at 5.00% and 5.50%, respectively. The MPC continued to maintain a neutral monetary policy stance."
"On growth, based on the new GDP series (base year 2022-23), the RBI projects growth to moderate to 6.9% in FY27 (1Q: 6.8%, 2Q: 6.7%, 3Q: 7.0%, 4Q: 7.2%), down from 7.6% in FY26 based on the second advance estimates."
"On inflation, the RBI released its FY27 CPI projections based on the new CPI series (2024=100) and expects inflation to accelerate to 4.6% (Feb FY26 MPC forecast: 2.1%). Upside risks stem from “persistently elevated energy prices due to the West Asia conflict and possible El Niño conditions, which could adversely affect the southwest monsoon”."
"Nevertheless, the RBI noted that underlying inflationary pressures (beyond food and energy) are expected to remain contained. Our FY27 inflation projection is slightly higher than the RBI’s at 4.8%, driven by low base effects and potential tightening in food supply, as fertilizer shortages could weigh on crop yields during the Zaid and Kharif sowing seasons."
"Given uncertainty over the extent of the drag on growth and the upside risks to inflation, the RBI is likely to preserve policy flexibility, as reinforced by its neutral monetary policy stance which enables the central bank “to respond judiciously to incoming information”. We maintain our forecast that the RBI will keep the policy repo rate unchanged at 5.25% through 2026."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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