Forex News
Gold prices fell in India on Friday, according to data compiled by FXStreet.
The price for Gold stood at 14,169.53 Indian Rupees (INR) per gram, down compared with the INR 14,271.88 it cost on Thursday.
The price for Gold decreased to INR 165,273.20 per tola from INR 166,464.40 per tola a day earlier.
Unit measure | Gold Price in INR |
|---|---|
1 Gram | 14,169.53 |
10 Grams | 141,695.20 |
Tola | 165,273.20 |
Troy Ounce | 440,722.10 |
FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
(An automation tool was used in creating this post.)
- NZD/USD attracts sellers for the second straight day as Iran tensions continue to underpin the USD.
- Elevated Oil prices revive Inflation fears, tempering dovish Fed bets and further benefiting the buck.
- Expectations that the RBNZ may consider tightening policy could limit losses for the NZD and the pair.
The NZD/USD pair is seen extending this week's retracement slide from the 0.5925-0.5930 horizontal barrier and drifting lower for the second straight day on Friday. Spot prices slide back to the 0.5840 region during the Asian session and seem vulnerable near a technically significant 200-day Simple Moving Average (SMA) amid a bullish US Dollar (USD).
The USD Index (DXY), which tracks the Greenback against a basket of currencies, retains its positive bias for the fourth straight day on the back of intensifying US-Iran tensions. Moreover, the lack of progress in peace talks, due to a standoff over the Strait of Hormuz, keeps investors on edge and further benefits the USD's safe-haven status. This, in turn, is seen as a key factor exerting some downward pressure on the NZD/USD pair.
US President Donald Trump said on Tuesday that the US Navy blockade of Iranian ports will continue, while Iran has set the complete removal of the blockade as a strict precondition for resuming negotiations. Furthermore, Trump ordered the US Navy to shoot and kill any boat laying mines in the critical shipping channel. This keeps geopolitical risks in play and dampens hopes for a durable de-escalation, underpinning the USD.
Meanwhile, continued disruptions to energy supplies remain supportive of elevated Crude Oil prices and fuel inflationary fears, tempering hopes for a dovish US Federal Reserve (Fed). Traders now see the possibility of only one 25-basis-point (bps) rate cut by the Fed in 2026. This backs the case for a further appreciating move for the USD and suggests that the path of least resistance for the NZD/USD pair is to the downside.
However, persistent sticky inflation has spurred bets that the Reserve Bank of New Zealand (RBNZ) may maintain a cautious policy stance or consider tightening to bring inflation back to the 2% midpoint. In fact, data earlier this week showed that New Zealand's annual inflation held at 3.1% in the March 2026 quarter, slightly above the central bank's 1–3% target range. This could limit losses for the New Zealand Dollar (NZD) and the NZD/USD pair.
New Zealand Dollar FAQs
The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency. Another factor moving NZD is dairy prices as the dairy industry is New Zealand’s main export. High dairy prices boost export income, contributing positively to the economy and thus to the NZD.
The Reserve Bank of New Zealand (RBNZ) aims to achieve and maintain an inflation rate between 1% and 3% over the medium term, with a focus to keep it near the 2% mid-point. To this end, the bank sets an appropriate level of interest rates. When inflation is too high, the RBNZ will increase interest rates to cool the economy, but the move will also make bond yields higher, increasing investors’ appeal to invest in the country and thus boosting NZD. On the contrary, lower interest rates tend to weaken NZD. The so-called rate differential, or how rates in New Zealand are or are expected to be compared to the ones set by the US Federal Reserve, can also play a key role in moving the NZD/USD pair.
Macroeconomic data releases in New Zealand are key to assess the state of the economy and can impact the New Zealand Dollar’s (NZD) valuation. A strong economy, based on high economic growth, low unemployment and high confidence is good for NZD. High economic growth attracts foreign investment and may encourage the Reserve Bank of New Zealand to increase interest rates, if this economic strength comes together with elevated inflation. Conversely, if economic data is weak, NZD is likely to depreciate.
The New Zealand Dollar (NZD) tends to strengthen during risk-on periods, or when investors perceive that broader market risks are low and are optimistic about growth. This tends to lead to a more favorable outlook for commodities and so-called ‘commodity currencies’ such as the Kiwi. Conversely, NZD tends to weaken at times of market turbulence or economic uncertainty as investors tend to sell higher-risk assets and flee to the more-stable safe havens.
- USD/CHF appreciates as the US Dollar gains on safe-haven demand amid persistent US–Iran conflict uncertainty.
- Israel’s UN ambassador Danny Danon said the Lebanon ceasefire extension is “not 100%.”
- Markets expect SNB intervention to curb rapid, excessive CHF appreciation.
USD/CHF extends its winning streak for the fourth successive day, trading around 0.7870 during the Asian hours on Friday. The pair gains ground as the US Dollar (USD) receives support from safe-haven demand amid persistent uncertainty surrounding the United States (US)–Iran conflict.
The Guardian reported on Thursday that Lebanon will push for a one-month extension of the current ceasefire with Israel during a second round of direct talks in Washington. Israel’s Ambassador to the United Nations (UN), Danny Danon, said in a CNN News interview on Friday that the Lebanon ceasefire extension is "not 100%".
The US military intercepted two Iranian oil supertankers attempting to evade its blockade, as Washington presses ahead with efforts to curb Iran’s shipping, while Tehran continues to threaten vessels in the Strait of Hormuz. US military officials are also preparing contingency plans to target Iran’s capabilities in the Strait should the current ceasefire collapse.
On the US data front. Weekly Initial Jobless Claims rose to 215K from 212K, indicating continued strength in the labor market. Meanwhile, S&P Global PMIs surprised to the upside, with Manufacturing at 54.0 and Services at 51.3, pointing to sustained expansion in business activity.
Earlier this week, Swiss data showed the Trade Surplus narrowed to CHF 2.7 billion in March, down from a downwardly revised six-month high of CHF 4.4 billion in February. Imports jumped 10.1% MoM to a four-month high of CHF 19.6 billion, while exports increased modestly by 1% to CHF 22.4 billion.
The upside of the USD/CHF pair could be restrained as the Swiss Franc (CHF) may find support from safe-haven inflows. Additionally, the CHF may also gain ground as rising concerns over a prolonged energy-driven inflation shock reinforce expectations of a more hawkish Swiss National Bank (SNB). Market participants expect the SNB to intervene in FX markets to curb a rapid and excessive appreciation of the CHF.
Swiss Franc FAQs
The Swiss Franc (CHF) is Switzerland’s official currency. It is among the top ten most traded currencies globally, reaching volumes that well exceed the size of the Swiss economy. Its value is determined by the broad market sentiment, the country’s economic health or action taken by the Swiss National Bank (SNB), among other factors. Between 2011 and 2015, the Swiss Franc was pegged to the Euro (EUR). The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone.
The Swiss Franc (CHF) is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress. This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks. Turbulent times are likely to strengthen CHF value against other currencies that are seen as more risky to invest in.
The Swiss National Bank (SNB) meets four times a year – once every quarter, less than other major central banks – to decide on monetary policy. The bank aims for an annual inflation rate of less than 2%. When inflation is above target or forecasted to be above target in the foreseeable future, the bank will attempt to tame price growth by raising its policy rate. Higher interest rates are generally positive for the Swiss Franc (CHF) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken CHF.
Macroeconomic data releases in Switzerland are key to assessing the state of the economy and can impact the Swiss Franc’s (CHF) valuation. The Swiss economy is broadly stable, but any sudden change in economic growth, inflation, current account or the central bank’s currency reserves have the potential to trigger moves in CHF. Generally, high economic growth, low unemployment and high confidence are good for CHF. Conversely, if economic data points to weakening momentum, CHF is likely to depreciate.
As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland’s main economic partner and a key political ally, so macroeconomic and monetary policy stability in the Eurozone is essential for Switzerland and, thus, for the Swiss Franc (CHF). With such dependency, some models suggest that the correlation between the fortunes of the Euro (EUR) and the CHF is more than 90%, or close to perfect.
- Gold retains its negative bias on Friday as rising US-Iran tensions continue to underpin the US Dollar.
- Inflation fears temper dovish Fed bets, further benefiting the buck and weighing on the commodity.
- The technical setup favors the XAU/USD bears and backs the case for a further depreciating move.
Gold (XAU/USD) remains depressed below the $4,700 mark during the Asian session on Friday, near a two-week trough set on the previous day, and seems poised to register weekly losses for the first time in the five weeks. The global risk sentiment remains fragile on the back of intensifying US-Iran tensions over the Strait of Hormuz and the lack of progress in peace talks. Moreover, reviving inflationary concerns temper dovish US Federal Reserve (Fed) expectations and underpin the US Dollar (USD), which, in turn, is seen weighing on the yellow metal.
Signs of friction between the US and Iran remain due to the American naval blockade of Iranian ports. In fact, Iran's Foreign Minister, Abbas Araghchi, called the blockade an act of war. Moreover, Iran’s chief negotiator, Mohammad Bagher Ghalibaf, said that a complete ceasefire only makes sense if it is not violated by the maritime blockade. Meanwhile, US President Donald Trump ordered the US Navy to shoot and kill any boat laying mines in the critical shipping channel. This dampens hopes for a durable de-escalation and continues to underpin the Greenback's global reserve currency status, exerting some pressure on Gold prices.
Meanwhile, continued disruptions to energy supplies through the strategic waterway remain supportive of elevated Crude Oil prices. This revives worries about a significant surge in global inflation and could prompt a more hawkish shift from major central banks, including the US Federal Reserve (Fed). The current market pricing indicates the possibility of only one 25-basis-point (bps) rate cut by the US central bank in 2026. The outlook acts as a tailwind for US Treasury bond yields and the USD. This turns out to be another factor that contributes to the offered tone surrounding the non-yielding Gold and backs the case for further losses.
Friday's US economic docket features the revised University of Michigan US Consumer Sentiment Index. The focus, however, remains glued to geopolitical developments, which might continue to infuse volatility across the global financial markets and produce some meaningful trading opportunities around the Gold. Nevertheless, the aforementioned fundamental backdrop suggests that the path of least resistance for the XAU/USD pair remains to the downside. Hence, any attempted recovery might be seen as a selling opportunity and runs the risk of fizzling out rather quickly.
XAU/USD 4-hour chart
Gold seems vulnerable to extend the fall further below the ascending channel support
The commodity maintains a bearish near-term bias beneath the 200-period Exponential Moving Average (EMA) and is now looking to extend the slide below the rising channel floor at $4,680.47. The move away from the channel support hints at a loss of upside momentum.
Meanwhile, the Relative Strength Index (RSI) at 35.72 sits near oversold territory, and the Moving Average Convergence Divergence (MACD) remains negative with a sub-zero line reading around -4.92. This reinforces persistent downside pressure rather than an imminent reversal.
Hence, further weakness would leave XAU/USD vulnerable to exploratory downside. On the upside, immediate resistance emerges around the former channel bottom at $4,680.47, with a stronger cap at the 200-period EMA near $4,778.44, and the upper boundary of the ascending channel higher up at roughly $4,901.82. Only a recovery back above the said barriers would begin to alleviate the current bearish tone.
(The technical analysis of this story was written with the help of an AI tool.)
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
- EUR/JPY may rise toward the all-time high of 187.95.
- The 14-day Relative Strength Index near 58 indicates positive momentum without overbought conditions.
- The primary support lies at the 50-day EMA at 184.86.
EUR/JPY inches higher after three days of gains, trading around 186.60 during Asian hours on Friday. The technical analysis of the daily chart indicates the currency cross is positioned slightly below the ascending channel, signaling potential for a bearish reversal.
However, the EUR/JPY cross holds a constructive bullish bias as it remains above the 50-day Exponential Moving Average (EMA) while facing immediate friction at the nine-day EMA.
Additionally, the 14-day Relative Strength Index sits around 58, comfortably above the midline yet below overbought territory, which suggests positive but not overstretched momentum that could favor further upside as long as the EUR/JPY cross holds over the underlying average.
The EUR/JPY cross is testing the immediate barrier at the nine-day EMA of 186.69. A rebound back to the ascending channel would reinforce the bullish bias and support the EUR/JPY cross to test the all-time high of 187.95, which was recorded on April 17. Further advances above this level would support the currency cross to explore the region around the upper boundary of the channel, around 189.40.
On the downside, further declines would put downward pressure on the EUR/JPY cross to navigate the region around the 50-day EMA at 184.86.
(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 strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.09% | 0.10% | 0.05% | 0.10% | 0.17% | 0.21% | 0.12% | |
| EUR | -0.09% | 0.00% | 0.00% | 0.00% | 0.08% | 0.12% | 0.04% | |
| GBP | -0.10% | -0.01% | -2.13% | 0.02% | 0.08% | 0.12% | 0.02% | |
| JPY | -0.05% | 0.00% | 2.13% | 0.03% | 0.10% | 0.14% | 0.03% | |
| CAD | -0.10% | 0.00% | -0.02% | -0.03% | 0.06% | 0.10% | 0.02% | |
| AUD | -0.17% | -0.08% | -0.08% | -0.10% | -0.06% | 0.04% | -0.07% | |
| NZD | -0.21% | -0.12% | -0.12% | -0.14% | -0.10% | -0.04% | -0.09% | |
| CHF | -0.12% | -0.04% | -0.02% | -0.03% | -0.02% | 0.07% | 0.09% |
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).
- Silver price remains under pressure as the Oil price reflects strength amid the Hormuz closure.
- Major central banks are scheduled to announce their monetary policy next week.
- The Fed is expected to hold interest rates steady in the range of 3.50%-3.75%.
Silver price (XAG/USD) trades with caution near its 10-day low around $75 during the Asian trading session on Friday. The white metal has been under pressure as oil prices reflect strength due to the prolonged closure of the Strait of Hormuz, a critical passage to almost 20% of global energy supply.
During the press time, the WTI Oil price clings to gains near $95.00, the highest level seen in over a week.
Higher oil prices have remained a key drag on the Silver price, as they have prompted inflation expectations globally, which have discouraged central banks from turning dovish on the monetary policy outlook.
The event of steady or tight monetary conditions by global central banks bodes poorly for non-yielding assets, such as Silver.
Going forward, investors will focus on monetary policy announcements from a number of global central banks next week, including the Bank of Japan (BoJ), the Federal Reserve (Fed), and the European Central Bank (ECB).
The Fed is expected to leave interest rates unchanged in the range of 3.50%-3.75% and guide that the central bank will remain vigilant to upside inflation risks prompted by geopolitical tensions.
Silver technical analysis
XAG/USD trades lower below $75, maintaining a bearish near-term tone amid a breakdown of the Ascending Triangle formation on the daily chart. The break under the supportive upward-sloping border of the above-mentioned chart pattern suggests sellers retain control while the Relative Strength Index (14) at 45.26 stays below the midline, hinting at lacklustre upside momentum rather than an oversold condition.
Looking down, the April 13 low at $72.61 is the immediate support for the Silver price; a decisive break below this level would expose it towards the April 7 low of $68.28. On the topside, the initial hurdle is the upward-sloping border near $79.30, and only a sustained move above this level would widen the scope of further upside towards the horizontal barrier of the above-mentioned pattern around $83.35.
(The technical analysis of this story was written with the help of an AI tool.)
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.
Israel’s Ambassador to the United Nations (UN), Danny Danon, said in a CNN News interview on Friday that the Lebanon ceasefire extension "not 100%".
Key quotes
I have to be honest. You know, the Lebanese government have no control of Hezbollah and Hezbollah is sending rockets trying to sabotage the ceasefire.
And Israel, we have to retaliate. Every time we see a threat, we take action.
It’s a significantly better situation. It’s not 100%. I hope …to see that the Lebanese military are actually able to implement and to enforce this ceasefire.
Market reaction
Despite these remarks, Oil price remains in a corrective mode, with WTI moving further away from eight-day highs of 97.02 reached on Thursday. At the time of writing, the US oil loses nearly 1% on the day to trade at $94.86.
WTI Oil FAQs
WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media.
Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.
The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency.
OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
- USD/CAD holds ground as the US Dollar remains firm on safe-haven demand amid persistent US–Iran conflict uncertainty.
- US intercepted two Iranian supertankers evading its blockade, as Tehran threatens vessels in the Strait of Hormuz.
- Higher energy prices raise the likelihood of a more hawkish Bank of Canada stance.
USD/CAD remains flat following a three-day winning streak, trading around 1.3700 during the Asian hours on Friday. The pair steadies as the US Dollar (USD) maintains its position as safe-haven demand increases amid persistent uncertainty surrounding the United States (US)–Iran conflict.
Bloomberg reported on Thursday that the US military intercepted two Iranian oil supertankers attempting to evade its blockade, as Washington presses ahead with efforts to curb Iran’s shipping while Tehran continues to threaten vessels in the Strait of Hormuz. US military officials are also preparing contingency plans to target Iran’s capabilities in the Strait should the current ceasefire collapse.
US President Donald Trump warned that if Iran does not move its oil, its infrastructure would be targeted. Iranian officials, however, denied agreeing to any extension of the truce and accused Washington of breaching it by maintaining a naval blockade on Iranian trade.
The Greenback also found additional support from resilient US economic data. Weekly Initial Jobless Claims rose to 215K from 212K, indicating continued strength in the labor market. Meanwhile, S&P Global PMIs surprised to the upside, with Manufacturing at 54.0 and Services at 51.3, pointing to sustained expansion in business activity.
The latest data showed that higher energy prices lifted Canada’s annual consumer inflation by 0.6% to 2.4% in April, in line with Bank of Canada (BoC) warnings that rising energy costs are feeding into inflation expectations.
Elevated energy prices have increased the likelihood of a more hawkish response from the Bank of Canada. Oil and refined product prices moved sharply higher as commercial vessels transiting the Strait of Hormuz came under attack from both the US and Iran, reinforcing the risk of prolonged disruptions to tanker flows from the region.
Canadian Dollar FAQs
The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports. Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar.
The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive.
The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD.
While inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar.
Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall.
- USD/JPY trades with a positive bias for the fifth straight day and flirts with a nearly two-week top.
- Economic concerns due to the Hormuz standoff and delayed BoJ rate hike bets undermine the JPY.
- Less dovish Fed expectations support the USD and the pair, though intervention fears cap the upside.
The USD/JPY pair sticks to its positive bias for the fifth straight day and trades around the 159.80 area, or a nearly two-week top during the Asian session on Friday. Spot prices remain on track to register strong weekly gains, though the mixed fundamental backdrop makes it prudent to wait for a breakout through over a one-month-old range before positioning for a firm near-term direction.
The Japanese Yen (JPY) continues with its relative underperformance amid economic concerns stemming from intensifying tensions in the Middle East, which, along with a bullish US Dollar (USD), acts as a tailwind for the USD/JPY pair. Investors remain skeptical about a durable agreement between the US and Iran amid the lack of progress in peace talks due to the American blockade of Iranian ports. Iran has set the complete removal of the US naval blockade as a strict precondition for resuming negotiations.
Meanwhile, Iran attacked three ships in the Strait of Hormuz on Wednesday and seized two of them. This adds to worries that Japan's economy will come under substantial strains due to continued disruptions to energy supplies through the strategic waterway. Adding to this, expectations that the Bank of Japan (BoJ) will hold interest rates steady at its upcoming April meeting, bolstered by the latest inflation figures, turn out to be another factor undermining the JPY and supporting the USD/JPY pair.
A government report showed that Japan's headline Consumer Price Index (CPI) recovered from its lowest level in nearly four years and rose to the 1.5% YoY rate in March. Moreover, the core gauge, which excludes volatile fresh food costs, climbed 1.8% from 1.6% in February, though it remained below the BoJ's 2% annual target. That said, the Core CPI that excludes both fresh food and fuel costs rose 2.4%, suggesting that price pressures remain sticky and backing the case for an imminent BoJ rate hike.
The data, however, does little to provide any respite to the JPY bulls. The US Dollar (USD), on the other hand, preserves its gains registered over the past three days amid persistent geopolitical uncertainties and fading dovish US Federal Reserve (Fed) bets. This further contributes to a positive tone surrounding the USD/JPY pair. However, speculations that Japanese authorities will step in to stem further weakness in the domestic currency help limit deeper JPY losses and cap gains for the currency pair.
Economic Indicator
National CPI ex Fresh Food (YoY)
Japan’s National Consumer Price Index (CPI), released by the Statistics Bureau of Japan on a monthly basis, measures the price fluctuation of goods and services purchased by households nationwide excluding fresh food, whose prices often fluctuate depending on the weather. The YoY reading compares prices in the reference month to the same month a year earlier. Generally, a high reading is seen as bullish for the Japanese Yen (JPY), while a low reading is seen as bearish.
Read more.Last release: Thu Apr 23, 2026 23:30
Frequency: Monthly
Actual: 1.8%
Consensus: 1.8%
Previous: 1.6%
Source: Statistics Bureau of Japan
- WTI rises on supply concerns amid stalled US–Iran talks and continued Strait of Hormuz closure.
- US intercepted two Iranian supertankers evading its blockade, as Tehran threatens vessels in the Strait of Hormuz.
- Analyst warns prolonged Hormuz disruptions could push inventories below five-year lows, adding supply-risk premium to oil prices.
West Texas Intermediate (WTI) oil price gains ground after opening at levels below the previous close, trading around 95.60 during the Asian hours on Friday. Crude oil prices gain on rising supply concerns amid stalled US-Iran peace negotiations and the continued closure of the Strait of Hormuz.
Bloomberg reported on Thursday that the US military intercepted two Iranian oil supertankers attempting to evade its blockade, as Washington presses ahead with efforts to curb Iran’s shipping while Tehran continues to threaten vessels in the Strait of Hormuz. US military officials are also preparing contingency plans to target Iran’s capabilities in the strait should the current ceasefire collapse.
US President Donald Trump warned that if Iran does not move its oil, its infrastructure could be targeted. Iranian officials, however, rejected claims of any truce extension and accused Washington of violating the agreement by maintaining a naval blockade on Iranian trade.
Iran on Thursday released footage showing commandos in a speedboat boarding a large cargo vessel following the breakdown of peace talks, underscoring its control over the Strait of Hormuz, a route through which roughly 20% of global oil and gas supplies typically pass.
Reuters, citing Mingyu Gao, chief researcher for energy and chemicals at China Futures, noted that prolonged disruptions in the Strait of Hormuz could drive global crude and refined product inventories below five-year seasonal lows by late May or early June, reintroducing a supply-risk premium into oil prices.
WTI Oil FAQs
WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media.
Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.
The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency.
OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
Forex Market News
Our dedicated focus on forex news and insights empowers you to capitalise on investment opportunities in the dynamic FX market. The forex landscape is ever-evolving, characterised by continuous exchange rate fluctuations shaped by vast influential factors. From economic data releases to geopolitical developments, these events can sway market sentiment and drive substantial movements in currency valuations.
At Rakuten Securities Hong Kong, we prioritise delivering timely and accurate forex news updates sourced from reputable platforms like FXStreet. This ensures you stay informed about crucial market developments, enabling informed decision-making and proactive strategy adjustments. Whether you’re monitoring forex forecasts, analysing trading perspectives, or seeking to capitalise on emerging trends, our comprehensive approach equips you with the insights needed to navigate the FX market effectively.
Stay ahead with our comprehensive forex news coverage, designed to keep you informed and prepared to seize profitable opportunities in the dynamic world of forex trading.
