Forex News
ING strategist Francesco Pesole argues that EUR/GBP has limited further downside after slipping below 0.8700, as United Kingdom (UK) political risks and stretched Bank of England (BoE) tightening expectations offset risk-on pressures. He notes that recent UK inflation data do not alter the outlook, with the BoE still expected to stay on hold through year-end.
Political risk and rates cap Pound gains
"We think EUR/GBP has limited downside potential after breaking below 0.870 over the past 24 hours."
"Risk‑on episodes tend to weigh on EUR/GBP, but rate differentials usually emerge as the more durable driver."
"In that context, the 41bp of tightening priced into the GBP curve looks stretched in our view relative to the 54bp of expected ECB tightening."
"That should be enough to keep the BoE on hold next week and, in our view, until year‑end."
"On our base case, inflation peaks briefly around 4% and oscillates between 3.5‑4% in 2H, though current gas pricing points to a peak closer to 3.5% – still not enough to force a hike."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
- EUR/JPY trades around 187.25 on Wednesday, posting a modest 0.05% gain on the day.
- European Central Bank officials adopt a cautious tone amid uncertainty stemming from the energy shock and the Middle East war.
- The Japanese Yen remains influenced by Oil price movements and expectations surrounding Bank of Japan policy.
EUR/JPY trades around 187.25 on Wednesday at the time of writing, up a modest 0.05% on the day. The cross remains supported by relative stability in the Euro (EUR) as investors assess the impact of geopolitical tensions and diverging monetary policy expectations between Europe and Japan.
European Central Bank (ECB) President Christine Lagarde warned that the Eurozone economic outlook remains highly uncertain due to a significant energy supply shock linked to tensions in the Middle East and the blockade of the Strait of Hormuz. Although energy prices have not yet reached their worst-case levels, she stressed that the outlook remains fragile.
ECB Governing Council member Martins Kazaks also said that the central bank is “not in a rush” to move on interest rates. According to him, uncertainty linked to the Middle East war remains very high and its impact on the real economy is only gradually being felt, giving the ECB time to gather more data before making any policy decisions.
Markets are now awaiting several speeches from ECB officials later in the day, including Christine Lagarde. In this context, the central bank is widely expected to maintain a cautious stance at its April meeting, preferring to wait for additional economic data before adjusting monetary policy.
On the Japanese side, the Japanese Yen (JPY) is moving within a complex environment. The currency remains sensitive to energy price fluctuations, as Japan relies heavily on Crude Oil imports from the Middle East.
At the same time, investors widely expect the Bank of Japan (BoJ) to leave interest rates unchanged at its April meeting while assessing the economic fallout from the Middle East conflict. However, according to Reuters sources, the central bank could signal a potential shift toward policy normalization as early as June, while raising its inflation outlook and lowering growth forecasts.
Geopolitical developments also remain closely monitored. United States (US) President Donald Trump said he would extend the ceasefire with Iran at Pakistan’s request while maintaining the US naval blockade of Iranian ports. Any escalation or prolonged tensions in the Middle East could revive demand for safe-haven assets such as the Japanese Yen and create headwinds for the EUR/JPY pair.
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.06% | -0.12% | -0.03% | -0.08% | -0.15% | -0.35% | 0.05% | |
| EUR | 0.06% | -0.06% | 0.04% | -0.00% | -0.10% | -0.30% | 0.11% | |
| GBP | 0.12% | 0.06% | 0.09% | 0.06% | -0.03% | -0.22% | 0.16% | |
| JPY | 0.03% | -0.04% | -0.09% | -0.04% | -0.11% | -0.32% | 0.05% | |
| CAD | 0.08% | 0.00% | -0.06% | 0.04% | -0.07% | -0.26% | 0.11% | |
| AUD | 0.15% | 0.10% | 0.03% | 0.11% | 0.07% | -0.20% | 0.17% | |
| NZD | 0.35% | 0.30% | 0.22% | 0.32% | 0.26% | 0.20% | 0.38% | |
| CHF | -0.05% | -0.11% | -0.16% | -0.05% | -0.11% | -0.17% | -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 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).
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that AUD/USD eased to 0.7152 after recent gains, with price action offering few fresh clues. They expect intraday trading between 0.7125 and 0.7175 and see the pair locked in a 0.7060–0.7210 range over the coming weeks. On a multi-month view, a break below 0.6850/0.6870 could trigger a slide toward 0.6765.
Near-term range, medium-term pressure
"24-HOUR VIEW: Yesterday, we highlighted that AUD “is likely to trade between 0.7140 and 0.7195.” AUD then traded within a lower range of 0.7131/0.7185. The price action provides no fresh clues, and we continue to expect AUD to trade in a range, most likely between 0.7125 and 0.7175"
"1-3 WEEKS VIEW: There is not much to add to our update from Monday (20 Apr, spot at 0.7130). As highlighted, “the current price movements are likely part of a range-trading phase between 0.7060 and 0.7210.”"
"1-3 MONTHS VIEW: The overall technical picture points to a lower AUD/USD; a breach of the 0.6850/0.6870 support zone could trigger a decline toward 0.6765. (dated 27 Mar 2026, 0.6885)."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $78.10 per troy ounce, up 1.90% from the $76.64 it cost on Tuesday.
Silver prices have increased by 9.87% since the beginning of the year.
Unit measure | Silver Price Today in USD |
|---|---|
Troy Ounce | 78.10 |
1 Gram | 2.51 |
The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 60.93 on Wednesday, down from 61.59 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.)
Societe Generale strategists note that Brent has retreated from recent highs after President Trump extended the Iran ceasefire indefinitely, with Oil prices still seen on an uncertain path back toward normalisation. Their technical team highlights resistance near $120 and the April high around $104, while warning that a failure to hold the 50‑DMA area near $91/90 could trigger a deeper decline.
Oil rebound hinges on key supports
"Oil prices retraced overnight after popping above $100/b intra-day yesterday but even with the indefinite extension of the ceasefire, the path to re-opening the Strait of Hormuz and towards a normalisation in oil prices remains highly uncertain."
"According to Tehran, there have been signs that the US are ready to lift the naval blockade, a condition to participate in the next round of the negotiations in Pakistan. The US will hold of further strikes until Iran submits a new proposal "and discussions are concluded, one way or the other"."
"One line of reasoning for the US willingness to extend is rooted in the view fractures exist within the current Iranian leadership and there is no consensus on the negotiation position with regards to the control of nuclear material. Markets have so far seized every extension as a motivation to wade back into risk."
"Brent has embarked on a phase of pullback after repeatedly encountering strong resistance near $120. It has recently tested the 50‑DMA for the first time since January. A brief consolidation cannot be ruled out."
"The April high near $104 represents the first hurdle; a break above this would be important to confirm a broader rebound. Conversely, failure to hold above the moving‑average around $91/90 denote the risk of a deeper decline."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
- EUR/CAD holds losses as the Canadian Dollar gains on improved oil prices.
- Maritime authorities said an IRGC-linked gunboat fired on a Liberia-flagged vessel and two other cargo ships.
- ECB’s Lagarde warns Eurozone outlook is highly uncertain due to a significant energy supply shock.
EUR/CAD extends its losing streak for the sixth consecutive day, trading around 1.6040 during the European hours on Wednesday. The currency cross stays subdued as the Canadian Dollar (CAD) draws support from a stronger risk-on mood after US President Donald Trump extended the ceasefire despite the collapse of second-round US–Iran talks.
Moreover, the commodity-linked CAD is further supported by firmer oil prices amid renewed attacks on shipping near Iran. Maritime authorities reported that a Liberia-flagged container vessel was fired upon by a gunboat linked to Iran’s Islamic Revolutionary Guard Corps, while two additional outbound cargo ships were also targeted.
However, a Bloomberg headline, citing Tasnim News Agency affiliated with the IRGC, noted that Iran has received “some sign” the United States (US) may be willing to ease its naval blockade.
The Canadian Dollar may continue to gain as rising energy prices could boost foreign exchange inflows into Canada’s financial system, reflecting the country’s status as the largest crude exporter to the United States. Higher energy costs could also lift inflation, potentially prompting the Bank of Canada (BoC) to signal a firm stance against persistent price pressures, further underpinning the currency.
European Central Bank (ECB) President Christine Lagarde warned that the Eurozone outlook remains highly uncertain due to a significant energy supply shock tied to Middle East tensions and the Strait of Hormuz blockade. While energy prices have yet to reach worst-case levels, she stressed that the outlook remains fragile.
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.
Commerzbank’s Tatha Ghose sees a binary Turkish central bank (CBT) decision, with markets split between no change and a 300 bp hike, and stresses that corridor tightening would still be de facto tightening. He argues disinflation was already unconvincing, external balances are deteriorating, and warns that failure to deliver significant tightening could trigger a sharper Turkish Lira (TRY) sell-off and raise the odds of abrupt adjustment.
CBT dilemma and Lira vulnerability
"The Turkish central bank’s (CBT’s) rate decision today comes at a point where the disinflation narrative was becoming increasingly unconvincing. The market consensus for today is bi-polar: analysts either expect no change to the official repo rate, or they forecast a 300bp rate hike – the majority expect no change."
"For us, though, it is irrelevant whether the price shock is temporary or permanent. In our view, the current shock makes the pre-existing unsustainable inflation situation all the more urgent. We do not accept that disinflation was working fine until the shock came along.
"Policymakers now acknowledge that the oil price shock will make this situation much worse in the months ahead. It is another matter that some skeptics, who also see disinflation as having failed, think that higher interest rates should not be used in future. We thoroughly disagree."
"But their reluctance confirms market concerns that they may choose the convenience of inaction because of political pressure. If there were no significant tightening step today, we would get concerned about a sharper lira sell-off. More secondary liquidity management measures, such as limits on swap exposures or obligation of exporters to sell FX proceeds to CBT etc., do not count: markets typically interpret such policies to confirm inability to act because of political constraints."
"The TRY exchange rate continues to be heavily managed. This can smooth volatility in the near term, but it does not resolve the underlying imbalances. The probability of a more abrupt currency adjustment will rise materially in the event of no monetary policy change."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
- USD/CHF eases below 0.7800, but remains trading within the weekly range.
- Concerns about the fate of the US-Iran peace process are providing support to the USD.
- Technical indicators suggest the immediate bearish trend may be coming to an end.
The US Dollar (USD) posts moderate losses against the Swiss Franc (CHF) on Wednesday, but remains trading within previous ranges, with price action fluctuating around 0.7800, halfway through the weekly trading band.
A cautious market mood, as hopes of a swift end to the US-Iran war wane, is keeping US Dollar crosses steady on Wednesday. US President Donald Trump extended the deadline of the ceasefire indefinitely, but Tehran has dismissed the initiative, as the US maintains the blockade of Iranian ports, which they consider an “act of war.”
Previously, an upbeat US Retail Sales report restored confidence in the US economic outlook. Beyond that, the testimony of the Fed Chair appointment, Kevin Warsh, assuring that he has not promised Trump any specific monetary policy, was seen as hawkishly-leaning, and provided a fresh boost to the USD.
Technical Analysis: USD/CHF shows hints of a potential trend shift
The USD/CHF maintains a mildly bearish near-term bias, but a possible double bottom pattern at the 0.7775 area, a common figure that anticipates trend shifts, and the bullish divergence in the Relative Strength Index (RSI), suggest that the pair might have found a significant support.
Technical indicators in 4-hour charts are mixed, highlighting a lack of clear direction. The mentioned RSI remains capped below the key 50 line, while the Moving Average Convergence Divergence (MACD) indicator hovers close to the zero line with a shallow positive reading
Bulls should break the April 16 and 17 highs near 0.7845 to confirm the double bottom pattern and set sail to the previous support area between 0.7865 and 0.7880 ahead of the April 13 high, near 0.7930.
On the contrary, a confirmation below the April 17 and 20 lows at 0.7775 would negate the bullish view and bring the March 10 low, at the 0.7750 area, into focus, ahead of the February 27 low, near 0.7670.
(The technical analysis of this story was written with the help of an AI tool.)
US Dollar Price This week
The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.08% | -0.30% | 0.35% | -0.29% | -0.57% | -0.93% | -0.19% | |
| EUR | 0.08% | -0.21% | 0.41% | -0.18% | -0.45% | -0.91% | -0.10% | |
| GBP | 0.30% | 0.21% | 0.65% | 0.06% | -0.24% | -0.68% | 0.11% | |
| JPY | -0.35% | -0.41% | -0.65% | -0.63% | -0.85% | -1.29% | -0.51% | |
| CAD | 0.29% | 0.18% | -0.06% | 0.63% | -0.18% | -0.67% | 0.09% | |
| AUD | 0.57% | 0.45% | 0.24% | 0.85% | 0.18% | -0.37% | 0.37% | |
| NZD | 0.93% | 0.91% | 0.68% | 1.29% | 0.67% | 0.37% | 0.76% | |
| CHF | 0.19% | 0.10% | -0.11% | 0.51% | -0.09% | -0.37% | -0.76% |
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).
Deutsche Bank analysts report that S&P 500 futures are rebounding after the index suffered its worst day since late March, pressured by Iran-related geopolitical risks and a more hawkish Federal Reserve (Fed) outlook. Despite strong US data and some upbeat earnings, equities fell broadly, with Energy the only major sector to advance on higher Oil prices.
Futures bounce after broad decline
"Trump’s ceasefire extension has led to some recovery in markets overnight after bonds and equities lost ground on both sides of the Atlantic yesterday."
"S&P futures (+0.51%) are seeing a sizeable rebound, on course to reverse most of the -0.63% S&P 500 decline yesterday, which marked the first back-to-back decline for the index in three weeks."
"Despite the stronger data, US equities struggled yesterday, as Iran fears and the prospect of a more hawkish Fed served to dampen sentiment."
"So the S&P 500 gave up its initial gains at the open to close -0.63% lower."
"This marked the S&P 500’s worst day since March 27, with a broad-based fall that saw two-thirds of the index lower on the day."
"Energy (+1.31%) was the only major sector group to advance. The decline also came despite some positive earnings, including from UnitedHealth Group (+6.96%) as they raised their outlook."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
DBS Group Research economist Radhika Rao notes that the Reserve Bank of India (RBI) has partially rolled back recent FX curbs that were introduced to stem one-sided Indian Rupee (INR) depreciation. The changes restore some related-party and Non-Deliverable Forward (NDF) hedging flexibility while keeping net open position caps. Rao highlights that the Rupee has recovered from record lows but still underperforms year-to-date, and further administrative tools from 2013 remain available.
RBI relaxes FX measures, Rupee still lagging
"The RBI partly rolled back FX curbs imposed earlier in the month, which were intended to arrest one-sided depreciation in the rupee, but had caused liquidity and positioning disruptions in onshore as well as offshore trades."
"According to an official circular on Monday, the central bank will permit transactions in the related-party deals, which include cancellation and rollover of existing contracts, as well as undertake back-to-back hedging in the NDF market to offset the risk from FX contracts."
"The nominal ceiling on net open positions in the local deliverable market will remain in place, along with restrictions preventing banks from engaging in the full range of FX derivative transactions with related parties."
"Since these administrative measures were introduced last month, the rupee has strengthened by nearly 2% against the dollar, recovering from record lows of around 95 per USD last month."
"Overall, the decision to ease some of the measures appear to be aimed at striking a balance between supporting genuine hedging needs while curbing arbitrage/speculative activity in the currency market."
"Despite recent gains, rupee has underperformed on ytd basis, more than regional peers. Besides the special oil dollar window, other notable options from the 2013 playbook include – gold import curbs, concessions for debt investors, special non-resident deposit facility and as a last resort, policy tightening to improve returns to attract rate sensitive flows, etc."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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