Trading news

On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8917 compared to the previous day's fix of 6.8982 and 6.8824 Reuters estimate.

The EUR/USD pair holds positive ground around 1.1620 during the early Asian session on Wednesday. The Euro (EUR) rebounds from a four-month low of 1.1507 against the Greenback as safe-haven demand softens.

West Texas Intermediate (WTI) crude oil price gave up gains from the previous session, trading around $81.70 per barrel during the Asian hours on Wednesday.

The Israel Defense Forces said that it had unleashed a new wave of strikes on Iran, shortly after a round of explosions was heard in Tehran.

Japan Producer Price Index (YoY) below expectations (2.1%) in February: Actual (2%)

Japan Producer Price Index (MoM) below forecasts (0.1%) in February: Actual (-0.1%)

The European Central Bank (ECB) President Christine Lagarde said late Tuesday that the degree of uncertainty and volatility is very surprising. Lagarde added that the central bank will take the necessary measures to control inflation.

The US Central Command said in a statement that US forces eliminated multiple Iranian naval vessels, including 16 minelayers operating near the Strait of Hormuz, Reuters reported on Wednesday. 

Gold price (XAU/USD) holds steady near $5,190 during the early Asian session on Wednesday. The precious metal steadies after a period of volatility following signals of potential de-escalation in Middle East tensions. 

The USD/JPY edges higher on Tuesday, rising nearly 0.25% as risk appetite deteriorated late in the New York session, even though the US President Donald Trump hinted a de-escalation of the conflict. At the time of writing the pair trades at 158.07 some 80 pips above its opening price.

MUFG’s Senior Currency Analyst Lee Hardman highlights that strong Chinese trade data and a firmer PBoC daily fix are supporting the Chinese Yuan.

United States API Weekly Crude Oil Stock registered at -1.7M, below expectations (1.4M) in March 6

The NZD/USD pair is trading near the 0.5930 price region, reversing its intraday gains late in the American session.

The USD/CHF recovers some ground on Tuesday, rises a modest 0.20% as the US Dollar recovers from earlier losses as risk appetite remains deteriorated as depicted by Wall Street, with three of the fourth US indices ending with losses.

UOB economist Ho Woei Chen highlights that strong China exports and imports in early 2026 are supporting growth, with clear diversification away from the US toward ASEAN, EU and regional partners.

The Aussie Dollar surges nearly 1% on speculation that the Reserve Bank of Australia is expected to raise rates at the March meeting. At the time of writing the AUD/USD trades at 0.7131, after refreshing three-year high at 0.7168.

Gold price (XAU/USD) rallies on Tuesday as the US Dollar (USD) retreats after Oil prices edge lower, reflecting the Greenback's close correlation with crude. At the time of writing, XAU/USD trades at $5,187, up more than 0.50%.

MUFG’s Senior Currency Analyst Michael Wan argues Asian currencies have been buffeted by Iran-related headlines as Asia’s heavy reliance on Middle East energy and Strait of Hormuz flows magnifies risk.

Better market sentiment is taking its toll on the Greenback as stabilizing Oil prices give riskier positions more appeal to investors.

West Texas Intermediate (WTI) remains volatile on Tuesday, with sharp two-way swings as traders continue to assess the evolving geopolitical situation in the Middle East and its impact on global energy markets.