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Forex Today: US Dollar drops to six-week low, markets hope for a swift end to US-Iran war
Here is what you need to know on Tuesday, April 14:
Fxstreet
Tue, Apr 14
USD/CAD consolidates below 1.3800 amid hopes of a US-Iran deal
The US Dollar (USD) posts marginal losses against the Canadian Dollar (CAD) on Tuesday, and extends its decline to three-week lows below 1.3790 after dropping from a high of 1.3878 on Monday.
USD/CAD
Brent
WTI
Fxstreet
Tue, Apr 14
EUR/USD Price Forecast: Sees more upside above 1.1800 as risk-on intensifies
The EUR/USD pair trades firmly near 1.1760 during the early European trading session on Tuesday, the highest level seen in six weeks. The major currency pair reflects strength as market sentiment remains risk-on due to optimism towards a permanent ceasefire between the United States (US) and Iran.
EUR/USD
US Dollar Index
Fxstreet
Tue, Apr 14
CHF: Safe-haven puzzle and SNB signals – Commerzbank
Commerzbank’s Michael Pfister notes that despite the war-related volatility in G10 FX, the Swiss Franc (CHF) has been one of the weakest G10 currencies, even though it remains a key safe haven.
USD/CHF
EUR/CHF
Fxstreet
Tue, Apr 14
AUD/USD Price Forecast: Trades below 0.7100 as bulls turn cautious near four-week top
The AUD/USD pair struggles to capitalize on the previous day's strong move up and retreats slightly from the 0.7100 mark, or a nearly four-week high set during the Asian session this Tuesday.
AUD/USD
Fxstreet
Tue, Apr 14
USD/CHF remains below 0.7850 as US-Iran talks weigh on US Dollar
USD/CHF continues its losing streak for the seventh successive day, trading around 0.7830 during the Asian hours on Tuesday.
USD/CHF
Fxstreet
Tue, Apr 14
GBP/USD Price Forecast: Refreshes six-week high above 1.3500
The Pound Sterling (GBP) extends its rally to near 1.3515 against the US Dollar (USD) during the Asian trading session on Tuesday.
GBP/USD
US Dollar Index
Fxstreet
Tue, Apr 14
NZD/USD treads water above 0.5850 following China’s Trade Balance data
NZD/USD inches lower after registering 0.5% gains in the previous day, trading around 0.5860 during the Asian hours on Tuesday. The pair remains subdued following the release of China's Trade Balance data for March.
NZD/USD
Fxstreet
Tue, Apr 14
Japanese Yen Strengthens to 159.00 Against Usd; Bulls Lack Conviction Amid Hormuz Risks
The USD/JPY pair is seen extending the previous day's modest pullback from the 159.85 region and drifting lower during the Asian session on Tuesday. Spot prices drop to the 159.00 mark in the last hour, though the downside potential seems limited amid mixed fundamental cues.
USD/JPY
Fxstreet
Tue, Apr 14
Canadian Dollar remains stronger as risk-on mood weighs on US Dollar
USD/CAD remains subdued for the second consecutive day, trading around 1.3790 during the Asian hours on Tuesday.
USD/CAD
Brent
Fxstreet
Tue, Apr 14
EUR/USD climbs to 1.1765-1.1770, highest since March as Iran diplomacy hopes undermine USD
The EUR/USD pair is seen building on the previous day's strong intraday move up of over 100 pips and gaining some follow-through traction during the Asian session on Tuesday.
EUR/USD
Fxstreet
Tue, Apr 14
Australian Dollar edges lower despite reinforced hawkish RBA bias
AUD/USD retreats after posting modest gains in the previous session, trading around 0.7090 during Asian hours on Tuesday.
AUD/USD
Fxstreet
Tue, Apr 14
PBOC sets USD/CNY reference rate at 6.8593 vs. 6.8657 previous
The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Tuesday at 6.8593 compared to the previous day's fix of 6.8657 and 6.8173 Reuters estimate.
USD/CNH
Fxstreet
Tue, Apr 14
GBP/USD rallies to seven-week highs above 1.3500 as US Dollar fades
GBP/USD opened the new week on the soft side, dipping to a session low near 1.3380, but staged a strong recovery through Monday's session to close around 1.3510, up 0.35% on the day.
GBP/USD
Fxstreet
Mon, Apr 13
Silver Price Analysis: Recovery stalls at 100-day SMA, sellers eye $75
Silver (XAG/USD) recovers some ground on Monday yet is poised to finish the day with losses of 0.33% after gapping down over the weekend due to news painting a gloomy outlook for the US-Iran conflict. At the time of writing, XAG/USD trades at $75.58 after bouncing off daily lows of $72.61.
Silver
Fxstreet
Mon, Apr 13
USD/JPY fades from near 160.00 as improving sentiment softens the US Dollar
USD/JPY traded in a wide intraday range on Monday, briefly spiking to a session high near 159.86 before pulling back steadily to settle around 159.35, roughly flat on the day.
USD/JPY
Fxstreet
Mon, Apr 13
NZD/USD rebounds as USD weakness dominates despite geopolitical tensions
The NZD/USD pair is pushing higher on Monday, April 13, climbing back toward the 0.5880 region as broad US Dollar (USD) weakness becomes the dominant market driver.
NZD/USD
Fxstreet
Mon, Apr 13
EUR/USD extends gains as Dollar slides to fresh six-week lows now
EUR/USD extended its gains on Monday as market mood improved, weighing on the US Dollar, which fell to six-week lows near 98.36 according to the US Dollar Index (DXY). At the time of writing, the pair trades at 1.1757, up 0.32%.
EUR/USD
Fxstreet
Mon, Apr 13
USD/CAD slides below 1.3800 as Crude Oil surge and soft Greenback lift the Loonie
USD/CAD slipped around 0.4% on Monday, falling to session lows near 1.3790 as the Canadian Dollar gained ground on surging Crude Oil prices and broad US Dollar softness.
USD/CAD
Fxstreet
Mon, Apr 13
AUD/USD rebounds as US-Iran deal hopes boost risk sentiment and temper Dollar strength
AUD/USD stages a sharp reversal on Monday after opening the week with a gap lower, as investors reassess evolving geopolitical developments in the Middle East and the prospects for a US-Iran deal.
AUD/USD
Brent
Fxstreet
Mon, Apr 13
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