Forex News
- Gold price flat lines around $4,825 in Tuesday’s early Asian session.
- Traders will closely monitor the Middle East developments as the US-Iran ceasefire expiry looms.
- The US March Retail Sales data will be published later on Tuesday.
Gold price (XAU/USD) trades on a flat note near $4,825 during the early Asian session on Tuesday. The precious metal steadies amid renewed geopolitical instability in the Middle East.
Reuters reported on Monday that Iran is considering attending peace talks with the United States (US) in Pakistan, following moves by Islamabad to end a US blockade of Iran's ports. Nonetheless, officials stressed that no decision had been made, and Iranian Foreign Minister Abbas Araqchi said that "continued violations of the ceasefire" by the US are a major obstacle to continuing the diplomatic process.
A breakdown in US-Iran peace talks and a renewed blockade of the Strait of Hormuz have driven oil prices higher. Rising energy costs are stoking inflation fears, raising the bar for cutting rates. Gold is often used amid geopolitical uncertainty, but it does not yield interest, making it less attractive when interest rates are high.
The US Retail Sales report will be the highlight later on Tuesday. Retail Sales is projected to show a rise of 1.4% MoM in March, compared to 0.6% in February. However, if the report shows softer-than-expected inflation in the US, this could weigh on the US Dollar (USD) and support the USD-denominated commodity price.
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.
- The US-Iran ceasefire faced collapse after Washington seized an Iranian cargo ship days before Wednesday's expiry.
- Risk sentiment held firm despite oil's 6% jump to $89, with the Pound firming as the US Dollar broadly softened.
- UK jobs, CPI and PMIs join US Retail Sales and Kevin Warsh's Fed confirmation hearing in a packed week.
GBP/USD advanced 0.1% on Monday, trading around 1.3530 after pulling back from last week's peak near 1.3600. The pair has spent recent sessions consolidating between 1.3500 and 1.3600, with small-bodied daily candles pointing to hesitation following the strong recovery from early April lows close to 1.3160. Bullish momentum has cooled at the top of the range.
The Iran story remains the dominant macro driver this week, with the two-week US-Iran ceasefire set to expire Wednesday night and President Trump publicly calling an extension "highly unlikely." The US seizure of an Iranian cargo ship in the Gulf of Oman over the weekend pushed tensions to the brink, prompting Iran's Revolutionary Guard to threaten retaliation and reassert closure of the Strait of Hormuz until the US naval blockade is lifted. Even so, markets remain reluctant to price the downside: West Texas Intermediate futures jumped more than 6% to $89 a barrel overnight, yet equity futures firmed and the US Dollar broadly softened on the view that another ceasefire extension will ultimately materialize.
Monday's calendar was limited to the International Monetary Fund (IMF) Meeting and second-tier New Zealand data, but the week ahead is stacked. Tuesday brings the UK labor market report alongside US Retail Sales and Kevin Warsh's hearing before the Senate Banking Committee as Fed Chair-designate, where his prepared remarks emphasize fighting inflation and keeping the Fed "in its lane." Wednesday's UK Consumer Price Index (CPI) print is the week's standout for the Pound, followed by Thursday's flash Purchasing Managers Index (PMI) readings out of both the UK and the US, with UK Retail Sales and the University of Michigan (UoM) sentiment data closing the week on Friday. Despite the packed slate, Iran headlines are still expected to dominate.
GBP/USD 15-minute chart
Technical Analysis
In the fifteen-minute chart, GBP/USD trades at 1.3534. The pair holds above the day’s open at 1.3485, keeping a mildly constructive intraday bias despite the latest pullback from earlier highs. The Stochastic RSI at 18.85 sits in oversold territory, hinting that downside momentum may be slowing as price consolidates at elevated levels relative to the session open.
On the downside, initial support aligns with the day’s open near 1.3485, where a break would undermine the current positive tone and expose a deeper corrective phase. With no nearby technical resistance levels provided by moving averages or Fibonacci retracements, short-term topside progress will likely depend on whether oversold Stochastic RSI conditions can fuel another bounce away from the 1.3485 floor.
In the daily chart, GBP/USD trades at 1.3535, holding a clear bullish bias as price extends above both the 50-day and 200-day exponential moving averages (EMAs). The pair is supported by the 50-day EMA near 1.3421 and the 200-day EMA around 1.3358, with their upward slope hinting that the broader uptrend remains intact despite the latest stretch higher. However, the Stochastic RSI at 93.74 sits deep in overbought territory, suggesting that upside momentum is stretched and that the risk of a corrective pullback is rising even within the prevailing bullish structure.
On the downside, initial support emerges at the 50-day EMA around 1.3421, with a deeper floor seen at the 200-day EMA near 1.3358, where dip-buying interest could reappear if a correction unfolds. On the topside, while no clear nearby price-based resistance is highlighted by moving averages, the extreme Stochastic RSI reading warns that fresh gains may become harder to sustain, and any failure to hold above the 1.34 area would weaken the immediate positive tone.
(The technical analysis of this story was written with the help of an AI tool.)
Pound Sterling FAQs
The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE).
The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects.
Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall.
Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
New Zealand’s Consumer Price Index (CPI) climbed 3.1% YoY in the first quarter (Q1) of 2026, compared with the 3.1% increase seen in the fourth quarter of 2025, according to the latest data published by Statistics New Zealand on Tuesday. The market consensus was for a growth of 2.9% in the reported period
The quarterly CPI inflation climbed to 0.9% in Q1 from the previous print of 0.6%, above the market consensus of 0.8%.
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.
- The US seizure of an Iranian cargo ship pushed the two-week ceasefire back to the brink ahead of Wednesday's expiry.
- Risk sentiment held firm despite oil's 6% surge, with equity futures and AUD buyers shrugging off Iran tensions.
- Tuesday's US Retail Sales and Thursday's S&P Global PMIs stand out in an otherwise light economic data calendar.
AUD/USD slipped roughly 0.2% on Monday, trading near 0.7180 after opening the week with a downside gap close to 0.7115. The pair clawed back most of the early weakness through the session, though price remains below Friday's peak around 0.7220. Small-bodied candles through the back half of the session point to a loss of upside momentum.
The dominant driver remains the shaky US-Iran ceasefire, set to expire Wednesday night with President Trump calling an extension "highly unlikely." Over the weekend, the US seized an Iranian cargo ship in the Gulf of Oman, prompting Iran's Revolutionary Guard to threaten retaliation and reassert closure of the Strait of Hormuz until the US naval blockade is lifted. A second round of talks in Islamabad is nominally planned for this week, though Tehran's Foreign Ministry said Monday it had no confirmed plans to attend.
Despite the fresh escalation, markets continue to price a benign resolution. West Texas Intermediate futures jumped more than 6% to $89 a barrel overnight, yet US equity futures steadied into the European session and risk-sensitive currencies including the Australian Dollar found buyers on dips. This week's economic docket adds little counterweight. Monday's calendar is limited to the International Monetary Fund (IMF) Meeting and Q1 data out of New Zealand, with US Retail Sales on Tuesday and flash Purchasing Managers Index (PMI) figures on Thursday the only notable releases.
AUD/USD 15-minute chart
Technical Analysis
In the fifteen-minute chart, AUD/USD trades at 0.7178. The pair holds above the daily open at 0.7138, keeping the near-term tone constructive despite the lack of nearby technical caps overhead. The latest Stochastic RSI reading has retreated toward oversold territory, which hints that the recent pullback in momentum may be nearing exhaustion while price action itself remains supported.
On the downside, initial support is located at the daily open around 0.7138, where a break would expose a deeper corrective phase on this intraday horizon. As long as AUD/USD holds above that floor, dips could continue to attract buyers, with the oversold Stochastic RSI suggesting scope for another attempt higher once short-term consolidation runs its course.
In the daily chart, AUD/USD trades at 0.7178, extending its advance above both the 50-period Exponential Moving Average (EMA) at 0.7009 and the 200-period EMA at 0.6779, which keeps the near-term bias firmly bullish as these averages now underpin the uptrend. The Stochastic RSI at 98.19 sits deep in overbought territory, hinting that upside momentum is stretched and that the pair could be vulnerable to a corrective pause even as the broader technical tone remains constructive while price holds over the short- and long-term EMAs.
On the downside, initial support is located at the 50-period EMA around 0.7009, where a pullback would likely be tested by dip buyers, ahead of stronger structural demand at the 200-period EMA near 0.6779. On the topside, with no nearby price-based resistance levels in play, the overbought Stochastic RSI reading around 98.19 acts as a warning signal that further gains may become increasingly hard to sustain unless buyers absorb any corrective pressure without the pair falling back through the 0.7009 zone.
(The technical analysis of this story was written with the help of an AI tool.)
Japanese Yen FAQs
The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.
One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen.
Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential.
The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.
Commerzbank’s Dr. Henry Hao argues China is better positioned than other Asian economies to withstand energy disruptions from Middle East tensions and Strait of Hormuz risks. The report highlights China’s diversified crude sourcing, large strategic reserves, and falling fossil fuel intensity, while warning that sectoral pain, especially in transport and chemicals, and prolonged volatility could still challenge China’s growth outlook over the coming months.
China buffers regional energy supply shocks
"To further mitigate the immediate shock of volatile energy markets, Asian nations are deploying their strategic reserves with varying degrees of efficacy. Advanced economies like Japan, South Korea, and Taiwan maintain robust national petroleum reserves to insulate their domestic markets, whereas developing nations such as India, Thailand, and the Philippines possess limited strategic inventories and thus remain highly exposed to prolonged supply disruptions."
"While Asian economies face acute energy vulnerabilities, China leverages strategic reserves and policy interventions to absorb the shocks. This short-term resilience remains under pressure as geopolitical volatility continues."
"Conversely, China has actively pursued a diversification strategy in recent years. While the world's largest oil consumer still faces considerable exposure, the proportion of Chinese crude oil sourced from the Middle East is the lowest among major Asian economies and has been steadily declining since 2022."
"Furthermore, the evolution of China's overall energy mix provides an additional layer of structural resilience. By steadily reducing fossil fuel consumption per unit of GDP and integrating renewables, China is systematically decreasing its hydrocarbon reliance."
"However, this macro-level stability could mask the diverging impacts hitting specific industrial sectors differently. The economic pain inflicted by the conflict is uneven across the Chinese industrial landscape."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
- USD/JPY drifted sideways on Monday after Friday's pullback from near 159.50 to an intraday low close to 157.60.
- The US seized an Iranian cargo ship on Sunday, putting the two-week ceasefire set to expire on Wednesday in jeopardy.
- Tuesday's US Retail Sales and Thursday's PMI data are the week's only major catalysts outside the Iran focus.
USD/JPY edged lower by less than 0.1% on Monday, trading in a tight range around 158.80. The pair slid from highs near 159.50 on Friday to an early-session low close to 157.60 before buyers stepped in, and has since consolidated in a roughly 150-pip band between 158.50 and 159.20 through the Asian and European sessions. Small-bodied candles and overlapping wicks point to indecision as traders await the next move in the US-Iran standoff.
The two-week US-Iran ceasefire announced on April 8 is looking increasingly fragile after US Navy forces boarded and seized an Iranian-flagged cargo ship, the Touska, in the Gulf of Oman on Sunday. President Trump has since declared the truce will end on Wednesday evening and suggested an extension is highly unlikely without a deal, while Iranian officials have publicly denied that a second round of Islamabad talks has been firmly scheduled. Despite the flurry of escalation, including Iran re-closing the Strait of Hormuz on April 18 and a surge in West Texas Intermediate (WTI) crude above $89 per barrel, currency markets have been notably reluctant to price in a collapse of talks. Risk sentiment looks anchored to a best-case outcome, leaving plenty of room for an abrupt repricing should the negotiations fail or military action resume.
The data docket is otherwise relatively light this week. Tuesday's US Retail Sales print and Thursday's flash Purchasing Managers Index (PMI) figures offer a read on consumer resilience and business conditions after weeks of elevated energy prices. Friday's Japanese national Consumer Price Index (CPI) is unlikely to move the pair meaningfully given that the Tokyo CPI release typically front-runs the national print by several weeks. The University of Michigan (UoM) consumer sentiment survey later that day rounds out the calendar, though its impact should prove muted while traders keep their attention fixed on the Iran headlines.
USD/JPY 15-minute chart
Technical Analysis
In the fifteen-minute chart, USD/JPY trades at 158.83, holding below the day’s open at 159.18, which keeps the near-term tone mildly bearish as intraday rallies continue to be rejected beneath that reference point. The Stochastic RSI has eased back to about 67 from overbought territory, hinting that upside momentum is fading rather than accelerating, which reinforces the idea of a capped bounce while price remains under the opening pivot.
On the topside, initial resistance is located at the day’s open around 159.18, and a sustained break above this level would be needed to alleviate immediate downside pressure and open the way for a more convincing recovery. On the downside, the lack of nearby defined support levels on this timeframe suggests that any renewed selling could see the pair probing lower intraday lows, with traders watching price action and momentum signals for signs of stabilization before considering a reversal.
In the daily chart, USD/JPY trades at 158.83. The pair maintains a constructive bullish bias as spot holds above the 50-day exponential moving average (EMA) at 158.15 and the 200-day EMA at 154.60, keeping the broader uptrend intact despite the recent pullback. The Stochastic RSI at 21.19 hovers in oversold territory, hinting that downside momentum is losing traction while price action remains supported by these underlying trend markers.
On the downside, initial support is located at the 50-day EMA around 158.15, where a break would expose the more robust bullish floor at the 200-day EMA near 154.60. Until those levels give way, the path of least resistance stays to the upside, with any further dips toward the 158 handle likely viewed as corrective within the prevailing uptrend.
(The technical analysis of this story was written with the help of an AI tool.)
Japanese Yen FAQs
The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.
One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen.
Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential.
The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.
Heightened tensions in the Middle East, which included the closure of the Strait of Hormuz and the US seizing an Iran-flagged vessel, dominate the narrative in the financial markets as traders wait for the second round of talks between Iran and the US. Wall Street ended Monday’s session in the red, while the US Dollar (USD) erased its previous gains, finishing the day with moderate losses, amid a mixed market mood.
Here’s what to watch on Tuesday, April 21:
The US Dollar Index (DXY) reached a five-day high of 98.35 before reversing, poised to end near 98.00. A scarce economic docket keeps the Greenback leaning on the dynamics of US President Donald Trump’s social media posts, while a US delegation heads to Pakistan. Besides this, traders await the release of Retail Sales, the ADP Employment Change 4-week average, and the hearing of the nominee for Fed Chair, Kevin Warsh, before the US Senate.
EUR/USD began the week on a lower note, gapping down, but as the trading day progressed, it is poised to end near 1.1800 for a 0.20% gain. The docket featured ECB President Lagarde, who said the bank is ready to act and that a quick resolution of the conflict will limit the impact of the energy shock. On Tuesday, traders would eye speeches by ECB officials, along with the EU and German ZEW Survey of Economic Sentiment for April.
GBP/USD reclaimed 1.3500, posting limited gains against the Euro amid broad US Dollar weakness. On Tuesday, traders eye the release of employment figures, with the ILO Unemployment Rate for February—the 3-month rollover—expected to come unchanged at 5.2%.
USD/JPY rose as the Japanese Yen was the worst-performing currency in the G10 FX space, amid the Bank of Japan’s hint that it would keep rates unchanged, even though money markets are pricing 47 basis points of tightening. The calendar will feature the Adjusted Merchandise Trade Balance, Exports, and Imports.
AUD/USD remains underpinned by expectations of Reserve Bank of Australia (RBA) rate hikes, even as market sentiment was mixed. The pair finished the session above 0.7150, and, with the lack of economic data released, suggests that price action would lie in the hands of the Greenback.
WTI posted the best performance among the financial markets, gaining more than 2.4% to $85.89, amid tensions in the US-Iran conflict. The resumption of talks would exert downward pressure on the black gold. But if the ceasefire expires with no agreement, crude could aim higher, clearing the $90.00 milestone.
Last but not least, Gold prices remained pressured by high US Treasury yields. Although the Greenback was pressured, expectations of higher Fed interest rates due to the energy shock weighed on the non-yielding metal, with XAU/USD remaining above $4,800.
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 Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.18% | -0.13% | 0.11% | -0.33% | -0.07% | 0.03% | -0.32% | |
| EUR | 0.18% | 0.05% | 0.26% | -0.11% | 0.08% | 0.08% | -0.15% | |
| GBP | 0.13% | -0.05% | 0.21% | -0.15% | 0.04% | 0.04% | -0.24% | |
| JPY | -0.11% | -0.26% | -0.21% | -0.46% | -0.22% | -0.27% | -0.53% | |
| CAD | 0.33% | 0.11% | 0.15% | 0.46% | 0.24% | 0.20% | -0.03% | |
| AUD | 0.07% | -0.08% | -0.04% | 0.22% | -0.24% | -0.02% | -0.26% | |
| NZD | -0.03% | -0.08% | -0.04% | 0.27% | -0.20% | 0.02% | -0.25% | |
| CHF | 0.32% | 0.15% | 0.24% | 0.53% | 0.03% | 0.26% | 0.25% |
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).
OCBC strategists Sim Moh Siong and Christopher Wong note USD/SGD rebounded sharply after Iran reclosed the Strait of Hormuz, reversing Friday’s drop to 1.2667. While daily momentum remains bearish, RSI is turning up from oversold, with key support at 1.2700 and 1.2670 and resistance at 1.2750/60, 1.2800 and 1.2850. Focus stays on whether parties reach a deal or escalate militarily in coming days.
Safe-haven bid lifts pair off lows
"USD/SGD had traded as low as 1.2667 last Fri, on news of conditional open of passageway at strait of Hormuz."
"But the pair rebounded sharply this morning in early trade following the weekend setback – reclosure of the strait."
"Focus remains on whether both parties manage to get a deal or if there are further military escalation in the next 24-48 hours."
"Bearish momentum on daily chart intact but shows tentative signs of fading while RSI shows signs of rising from near oversold conditions."
"Key support at 1.27, 1.2670 (76.4% fibo). Resistance at 1.2750/60 levels (50 DMA, 50% fibo), 1.28 levels (21, 100 DMAs, 38.2% fibo retracement of 2026 low to high), 1.2850 (200 DMA, 23.6% fibo)."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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