Forex News
Rabobank’s Molly Schwartz notes that Europe faces renewed energy security risks as Middle Eastern LNG reliability deteriorates following QatarEnergy’s production halt. TTF prices have surged to their highest level since early 2025, and Rabobank’s Energy Strategists warn that a full removal of Qatar from LNG supply could push European gas prices back toward 2022 levels, significantly tightening the regional energy complex.
TTF prices react to Qatar LNG halt
"Europe was hit with the first strike to its energy supply chain after the Russian invasion of Ukraine and had to start diversifying its inflows from elsewhere. Now that Middle Eastern LNG is losing reliability, Europe might have to get involved just to keep the lights on."
"While the EU and UK would probably be more than happy to spectate from the proverbial “monitoring chair,” they may not have a choice. TTF prices reached highs of - €48.95/MWh yesterday—the highest since February of 2025."
"QatarEnergy announced that it has ceased production of LNG and associated products due to the recent escalation. Our Energy Strategists, Florence Schmit and Joe DeLaura, note that we could see prices return to 2022 levels should Qatar be taken out of the LNG equation entirely (easily back to €100/MWh)."
"This puts the entire European energy complex at risk and might be just the incentive needed for Europe to get out of the monitoring chair and into the ring. France24 reports that “France, Germany, UK ready to take ‘defensive action’ against Iran.”"
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Silver prices (XAG/USD) fell on Tuesday, according to FXStreet data. Silver trades at $84.81 per troy ounce, down 5.78% from the $90.01 it cost on Monday.
Silver prices have increased by 19.30% since the beginning of the year.
Unit measure | Silver Price Today in USD |
|---|---|
Troy Ounce | 84.81 |
1 Gram | 2.73 |
The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 62.43 on Tuesday, up from 59.24 on Monday.
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
(An automation tool was used in creating this post.)
- EUR/CAD depreciates ahead of the Eurozone preliminary Harmonized Index of Consumer Prices (HICP) data release.
- The commodity-linked Canadian Dollar gains support from higher Oil prices.
- US officials say they destroyed Iran's IRGC command posts, air defenses, and missile launch sites.
EUR/CAD extends its losing streak for the fourth successive session, trading around 1.5910 during the European hours on Tuesday. Traders await the Eurozone preliminary Harmonized Index of Consumer Prices (HICP) data for February, which is scheduled to be published later in the day.
The EUR/CAD cross depreciates as the commodity-linked Canadian Dollar (CAD) received support from higher Oil prices. Canada’s status as a major crude exporter makes its currency particularly sensitive to movements in Oil prices.
West Texas Intermediate (WTI) Oil price rises toward $75.00 at the time of writing. Crude Oil prices remain stronger on supply concerns due to the Middle East war. US military officials said on Tuesday that they have destroyed command posts of Iran’s Revolutionary Guards as well as Iranian air defense and missile launch sites since the start of the joint Israeli-US offensive on Saturday.
Ebrahim Jabari, senior adviser to the commander-in-chief of the Islamic Revolutionary Guard Corps (IRGC), said: “The Strait of Hormuz is closed. If anyone tries to pass, the heroes of the Revolutionary Guards and the regular navy will set those ships ablaze,” reported by Reuters.
Additionally, the CAD draws support as higher Oil prices reignite concerns about a fresh inflation wave in Canada, as investors fear rising energy costs could force central banks to keep interest rates higher for longer.
Euro FAQs
The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%).
The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.
Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.
Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy.
Another significant data release for the Euro 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 then its currency will gain in value 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.
MUFG’s Senior Currency Analyst Lee Hardman notes the Swiss Franc has failed to benefit from safe-haven demand, as the Swiss National Bank signalled a greater willingness to intervene in FX markets. The SNB’s statement lifted EUR/CHF back above 0.9100 after a 0.9025 low. Markets still see only a small probability of negative rates returning ahead of the 19 March policy meeting.
SNB verbal intervention supports EUR/CHF
"Even the Swiss franc which normally benefits from a pick-up in safe haven demand triggered by geopolitical and global inflation risks has weakened."
"The Swiss franc attempted to strengthen initially yesterday but quickly gave back those gains after the SNB sent a strong signal that they were moving closer to intervening in the foreign exchange market to dampen currency strength."
"The SNB stated that “in view of international developments, we are increasingly prepared to intervene in the foreign exchange market.""
"We are ready to intervene in the foreign exchange market to curb a rapid and excessive appreciation of the Swiss franc, which would jeopardize price stability in Switzerland”."
"The statement helped to lift EUR/CHF back above the 0.9100-level after it hit a low yesterday at 0.9025."
"The verbal intervention from the SNB indicates as well that they would prefer to intervene if necessary to dampen currency strengthen rather than lower rates back into negative territory."
"The Swiss rate market is still pricing in only a small probability of a return to negative rates ahead of the SNB’s upcoming policy meeting on 19th March."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
- AUD/USD meets with a fresh supply as Middle East tensions continue to underpin the USD.
- The RBA’s hawkish outlook does little to impress the Aussie bulls or lend support to the pair.
- Traders now look to the Australian Q4 GDP print on Wednesday for some meaningful impetus.
The AUD/USD pair attracts fresh sellers following an intraday uptick to the 0.7120-0.7125 region and extends its steady intraday descent through the first half of the European session on Tuesday. Spot prices slide back closer to mid-0.7000s in the last hour, with bears eyeing the lower boundary of a multi-week-old trading range support amid a broadly firmer US Dollar (USD).
Traders have been trimming their bets for three interest rate cuts by the US Federal Reserve (Fed) in 2026 amid sticky inflation. Furthermore, the rapid escalation of geopolitical tensions in the Middle East continues to drive flows towards traditional safe-haven assets, which, in turn, lifts the USD to a fresh high since January 20 and undermines the perceived riskier Aussie.
US President Donald Trump said the big wave is yet to come. Secretary of State Marco Rubio added that the US is preparing for more attacks in Iran over the next 24 hours. Meanwhile, the US State Department urged citizens to leave Middle East countries immediately due to serious risks.
This continues to weigh on investors' sentiment and boosts the USD's global reserve currency status, overshadowing the hawkish Reserve Bank of Australia (RBA). In fact, RBA Governor Michelle Bullock said the Board remains uncertain whether financial conditions are restrictive enough to return inflation to the midpoint of the target range within a reasonable timeframe.
In the absence of any relevant market-moving data, the incoming geopolitical headlines will drive the USD demand and provide some impetus to the AUD/USD pair ahead of the Australian Q4 GDP report on Wednesday. Nevertheless, the aforementioned mixed fundamental backdrop makes it prudent to wait for a break below the trading range before placing fresh bearish bets.
Economic Indicator
Gross Domestic Product (QoQ)
The Gross Domestic Product (GDP), released by the Australian Bureau of Statistics on a quarterly basis, is a measure of the total value of all goods and services produced in Australia during a given period. The GDP is considered as the main measure of Australian economic activity. The QoQ reading compares economic activity in the reference quarter to the previous quarter. Generally, a rise in this indicator is bullish for the Australian Dollar (AUD), while a low reading is seen as bearish.
Read more.Next release: Wed Mar 04, 2026 00:30
Frequency: Quarterly
Consensus: 0.6%
Previous: 0.4%
Source: Australian Bureau of Statistics
The Australian Bureau of Statistics (ABS) releases the Gross Domestic Product (GDP) on a quarterly basis. It is published about 65 days after the quarter ends. The indicator is closely watched, as it paints an important picture for the economy. A strong labor market, rising wages and rising private capital expenditure data are critical for the country’s improved economic performance, which in turn impacts the Reserve Bank of Australia’s (RBA) monetary policy decision and the Australian dollar. Actual figures beating estimates is considered AUD bullish, as it could prompt the RBA to tighten its monetary policy.
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