EUR/USD
EUR/USD is back in the red below 1.0800 in the early European morning on Wednesday as investors rush for the safe-haven US Dollar, aniticpating US President Donald Trump’s long-threatened “reciprocal” tariffs package, due to be announced at 1900 GMT.
GBP/USD
GBP/USD is trading with caution above 1.2900 early Wednesday, struggles to capitalize on the overnight bounce amid resugent haven demand for the US Dollar. Traders remain wary heading into the US ‘reciprocal tariffs’ announcement on “Liberation Day’ at 1900 GMT.
USD/JPY
The Japanese Yen (JPY) sticks to its negative bias through the Asian session on Wednesday, lifting the USD/JPY pair back closer to the 150.00 psychological mark. Speculations that a tariff-driven economic slowdown might force the Bank of Japan (BoJ) to keep the policy steady for the time being undermine the JPY. Apart from this, a generally positive tone around the Asian equity markets turns out to be another factor weighing on the safe-haven JPY.
AUD/USD
The AUD/USD pair trades on a flat note near 0.6275 during the early Asian session on Wednesday. The markets turn cautious ahead of US President Donald Trump’s announcement of reciprocal tariffs. Also, the US March ADP Employment Change will be published.
NZD/USD
The NZD/USD pair gains strong follow-through positive traction for the second straight day and climbs to a fresh weekly high, around the 0.5720-0.5725 region during the Asian session on Wednesday.
USD/CAD
The USD/CAD pair reverses an Asian session dip to sub-1.4300 levels or a fresh weekly low touched during the Asian session on Wednesday, and for now, seems to have stalled the overnight pullback from the 1.4415 area, or a nearly three-week high. Spot prices, however, lack follow-through buying as traders opt to wait on the sidelines ahead of US President Donald Trump’s tariffs announcement later today.
USD/CHF
The USD/CHF pair softens to near 0.8840 during the early European session on Tuesday. The US Dollar (USD) edges lower against the Swiss Franc (CHF) as traders grow risk-averse ahead of US trade tariffs expected to be unveiled on Wednesday.
CRUDE OIL
Oil prices steadied in thin trading on Wednesday after falling in the previous session on concerns that new U.S. tariffs, set to be unveiled at 2000 GMT, may deepen a global trade war that could limit crude demand.
Gold price regains positive traction amid concerns about Trump’s aggressive trade policies. Fed rate cut bets keep the USD bulls on the defensive and further benefiting the XAU/USD pair. A broadly stable risk sentiment might cap gains ahead of Trump’s tariffs announcement.
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