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GBP/USD: Sterling enjoys its reserve currency status – ING
GBP/USD continues to benefit from broader dollar weakness and reserve diversification trends, with FX managers potentially trimming dollar holdings in favor of currencies like sterling. The pair also closely follows EUR/USD moves, as Europe embraces fiscal stimulus.
Technical Analysis
Banks
GBPUSD
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Fxstreet
DXY hovers near lows as trade uncertainty weighs – OCBC
Dollar Index (DXY) inched modestly higher overnight but continues to trade near recent lows. Trump launched a probe into the need for tariffs on critical minerals, the latest action in an expanding trade war that has targeted key sectors of the global economy.
DollarIndex
Banks
Technical Analysis
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Fxstreet
USD/JPY: Leading the charge lower in the dollar – ING
The Japanese Yen’s (JPY) solid current account and foreign asset position continue to pressure USD/JPY lower, even as the rare decoupling from US Treasury yields unfolds. While this divergence may prove short-lived, markets could settle into a lower USD/JPY as Fed cuts materialize later this year.
Technical Analysis
BOJ
USDJPY
Banks
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Fxstreet
EUR/USD consolidates near 1.13 – OCBC
The Euro (EUR) is consolidating as markets digest tariff concerns and await the ECB meeting, where a 25bp rate cut is expected. While bullish momentum continues, dovish ECB rhetoric or pushback on recent euro strength could limit further gains.
Technical Analysis
EURUSD
Banks
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Fxstreet
Real money flows fuel EUR/USD rally – ING
The EUR/USD rally appears driven by real money flows as investors hedge dollar exposure or repatriate US assets.
EURUSD
Banks
Technical Analysis
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Fxstreet
Palladium price today: Rare metals mixed at the start of the European session
Platinum Group Metals (PGMs) trade mixed at the beginning of Wednesday, according to FXStreet data.
Platinum
Commodities
Palladium
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Fxstreet
NZD/USD rises above 0.5900 as US Dollar struggles ahead of US Retail Sales data
NZD/USD continues its winning streak for the sixth successive day, trading around 0.5910 during the European hours on Wednesday. The pair appreciates as the New Zealand Dollar (NZD) gains ground following the release of key economic data from China.
Majors
NewZealand
NZDUSD
Macroeconomics
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Forex Live
Gold jumps above $3,300 as the surging run continues
It was just a week ago that gold was still trading under $3,000
Gold
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Fxstreet
US Dollar Index falls below 99.50 due to eroding investor confidence, Retails Sales eyed
The US Dollar Index (DXY), which measures the US Dollar (USD) against a basket of six major currencies, declined after gaining in the previous session, trading near 99.50 during Wednesday's European hours.
DollarIndex
Fed
Macroeconomics
Majors
TradeWar
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Eurozone February current account balance €33.1 billion vs €13.2 billion prior
Latest data released by the ECB - 16 April 2025
EUR
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Fxstreet
Crude Oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Wednesday, early in the European session. WTI trades at $60.29 per barrel, down from Tuesday’s close at $61.01. Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $63.66 after its previous daily close at $64.36.
Oil
WTI
Commodities
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Forex Live
Ex-China mouthpiece hits back at US, says "we're curious to see who holds out longer"
Some interesting remarks by Hu Xijin, former Global Times editor, who is also a prolific nationalistic commentator
CNY
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Fxstreet
Forex Today: US Dollar selloff resumes after short reprieve, eyes on BoC and Powell
Here is what you need to know on Wednesday, April 16:
Currencies
Majors
EconomicIndicator
Commodities
Macroeconomics
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Fxstreet
China’s Foreign Ministry urges US to stop threats and blackmail
On Wednesday, China’s Foreign Ministry urged the US to stop threats and blackmail.
China
TradeWar
AUDUSD
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Fxstreet
WTI drops to near $60.00 as US-China trade dispute continues to weigh on energy demand
West Texas Intermediate (WTI) Oil price continues its decline for the third consecutive session, losing over 1.00% and trading near $60.30 per barrel during early European hours on Wednesday.
Oil
WTI
Commodities
Macroeconomics
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Forex Live
China Foreign Ministry: Urge US to stop threats and blackmail
Remarks from the Chinese Foreign Ministry on the latest US moves against China
market overview
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Fxstreet
Pound Sterling comes under pressure as UK inflation cools down
The Pound Sterling (GBP) faces selling pressure against its major peers on Wednesday, except the US Dollar (USD), after the release of the softer-than-expected United Kingdom (UK) Consumer Price Index (CPI) data for March.
TradeWar
SEO
Inflation
BOE
GBPUSD
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Forex Live
Nvidia said to have kept some customers in the dark about China restrictions - report
Nvidia reportedly did not inform some of its major customers about the new US export rules despite being told about a week ago requiring it to obtain licenses
market overview
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Fxstreet
GBP/JPY Price Forecast: Bearish outlook remains intact below 189.00
The GBP/JPY cross attracts some sellers to around 188.80 during the early European session on Wednesday. The Pound Sterling (GBP) weakens against the Japanese Yen (JPY) after the UK Consumer Price Index (CPI) inflation report.
Crosses
Technical Analysis
GBPJPY
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Nomura cuts China 2025 GDP growth forecast to 4% from 4.5% previously
Nomura the latest to join the bandwagon
CNY
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Fxstreet
India Gold price today: Gold hits lifetime highs on renewed US Dollar weakness
Fears of the US-China trade war escalation and its impact on the US economy remain unabated, driving a fresh leg down in the US Dollar.
Gold
India
Commodities
TradeWar
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Forex Live
What are the main events for today?
The highlights include the US Retail Sales report and the BoC Policy Decision, but the focus remains on tariff negotiations
market overview
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Fxstreet
EUR/GBP holds positive ground above 0.8550 after UK CPI inflation data
The EUR/GBP cross gains momentum to near 0.8565 during the early European session on Wednesday. The Pound Sterling (GBP) weakens against the Euro (EUR) after the UK Consumer Price Index (CPI) inflation report.
Crosses
UnitedKingdom
CPI
EURGBP
Macroeconomics
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Forex Live
Eurostoxx futures -1.6% in early European trading
The risk mood goes back on the defensive today
Stocks
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Forex Live
UK March CPI +2.6% vs +2.7% y/y expected
Latest data released by ONS - 16 April 2025
GBP
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Fxstreet
FX option expiries for Apr 16 NY cut
FX option expiries for Apr 16 NY cut at 10:00 Eastern Time via DTCC can be found below.
Currencies
Options
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Forex Live
Dollar comes under pressure again as risk mood gets unsettled
The greenback is down across the board going into the session ahead
USD
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Fxstreet
USD/CHF drops to mid-0.8100s, back closer to multi-year low on weaker USD
The USD/CHF pair attracts fresh sellers during the Asian session on Wednesday and erodes a major part of the previous day's modest recovery gains.
Currencies
TradeWar
Fed
RetailSales
USDCHF
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Fxstreet
USD/CAD Price Forecast: Breaks below 1.3950 as bearish bias prevails
The USD/CAD pair slips slightly after posting gains in the previous session, trading near 1.3940 during Wednesday’s Asian session. Technical analysis on the daily chart indicates a prevailing bearish trend as the pair continues to move lower within a descending channel.
Technical Analysis
Canada
USDCAD
Majors
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Forex Live
Risk mood shaken up ahead of European trading
Tech shares under pressure as US moves to ban Nvidia from selling H20 chips to China
market overview
News Discussion Forum
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Fxstreet
Gold price retreats after hitting fresh all-time peak; back below $3,300 ahead of Powell's speech
Gold price (XAU/USD) trims a part of strong intraday gains to a fresh all-time high touched during the first half of the European session and slips back below the $3,300 mark in the last hour.
TradeWar
Fed
SEO
Gold
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Forex Live
ANZ downgrades China 2025 GDP forecast to 4.2% from 4.8% previously
US tariffs weigh on the outlook
CNY
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Fxstreet
EUR/USD rises to near 1.1350 ahead of Eurozone HICP inflation data
EUR/USD is trading around 1.1340 during the Asian hours on Wednesday, rebounding after two consecutive sessions of losses.
EURUSD
Macroeconomics
Majors
Eurozone
ECB
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Forex Live
No place like gold as US-China trade tensions continue to dominate the market landscape
Gold hits a fresh record high of $3,283 ahead of European trading
Gold
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Forex Live
ForexLive Asia-Pacific FX news wrap NVDA $5.5bn bombshell, China data solid, BOJ May hold?
Forex news for Asian trading on Wednesday, April 16, 2025
Session wrap
Wrap Asia
News Discussion Forum
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Fxstreet
Silver Price Forecast: XAG/USD edges higher to near $32.50 due to safe-haven demand
Silver price (XAG/USD) is inching higher after recent losses, trading around $32.30 per troy ounce during Wednesday’s Asian session. The uptick comes as lingering uncertainty over US trade policy continues to fuel safe-haven demand for the precious metal.
Silver
Metals
Commodities
Macroeconomics
XAGUSD
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Fxstreet
USD/INR tumbles ahead of US Retail Sales release, Fed’s Powell speech
The Indian Rupee (INR) trades in positive territory for the fifth consecutive day on Wednesday. The weakening of the US Dollar (USD) and the extended decline in crude oil prices eased the Indian currency’s losses.
EmergingMarkets
SEO
USDINR
India
Macroeconomics
News Discussion Forum
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Fxstreet
GBP/USD extends rally to fresh six-month highs near 1.3250 ahead of UK CPI data
The GBP/USD pair continues its winning streak that began on April 8, trading around 1.3250 during Wednesday’s Asian session. Earlier in the day, it touched a fresh six-month high at 1.3256.
UnitedKingdom
Majors
Macroeconomics
GBPUSD
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