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NZD/USD rises above 0.5550 on rising hope of de-escalation in global trade tensions
The NZD/USD pair is stabilizing near 0.5560 during Wednesday's European session after three consecutive days of losses.
NZD/USD: Downward momentum is building - UOB Group
Downward momentum is building; New Zealand Dollar (NZD) is likely to decline vs US Dollar (USD), but it is unclear whether it can break the major support at 0.5450.
Eurozone growth to take a bigger hit from Trump's tariffs than the ECB earlier estimated - Reuters
Citing sources with direct knowledge of the European Central Bank (ECB) thinking, Reuters reported on Wednesday that the "Eurozone growth is expected to take a bigger hit from US President Donald Trump's tariffs than the ECB earlier estimated."
RBNZ cuts rates, signals more easing ahead - ING
The Reserve Bank of New Zealand delivered a widely expected rate cut and opened the door to further easing as trade tensions weigh on the outlook. With AUD and NZD under pressure, any sign of de-escalation between China and the US could offer much-needed relief.
EUR/GBP climbs toward 0.8600 amid growing hopes of easing trade tensions
EUR/GBP continues its upward momentum for a fifth consecutive session, trading near 0.8600 during Wednesday's European hours.
AUD/USD: Downward momentum has increase slightly - UOB Group
Downward momentum has increase slightly; Australian Dollar (AUD) is likely to edge lower but is unlikely to reach 0.5870 vs US Dollar (USD).
Japan's Top FX Diplomat Mimura: Closely watching market moves with high sense of urgency
Following the meeting between the Bank of Japan (BoJ), Japanese Financial Services Agency (FSA) and Ministry of Finance (MoF) on Wednesday, Atsushi Mimura, Japan's Vice Finance Minister For International Affairs and top foreign exchange official, said on Wednesday, they are "closely watching market
USD: Sell America? - ING
Just when the dollar seemed to be regaining some confidence, the US decision to go ahead with a tariff hike of 104% on China led to a rotation away from the greenback.
ECB's Knot: Impact of trade war on long term is likely inflationary
European Central Bank (ECB) policymaker Klaas Knot said on Wednesday that a trade was in the long term is a negative supply shock, per Reuters.
GBP/USD: Likely to trade between 1.2740 and 1.2860 - UOB Group
Current price movements are likely part of a range-trading phase, probably between 1.2740 and 1.2860.
Palladium price today: Rare metals advance at the start of the European session
Platinum Group Metals (PGMs) trade with a positive tone at the beginning of Wednesday, according to FXStreet data.
CNY: Depreciation remains a key policy response - ING
In China, the PBoC set the USD/CNY fixing at 7.2066 this morning. This marks the fifth consecutive adjustment higher, reinforcing the view that a controlled weakening of the yuan (albeit not a devaluation) is part of China's policy response to tariffs, ING's FX analyst Francesco Pesole notes
EUR/USD: Any advance might not reach 1.1050 - UOB Group
Bias for Euro (EUR) is on the upside, but any advance might not reach 1.1050.
EUR: Benefitting from USD losses - ING
EUR/USD has rallied back above 1.10, banking on idiosyncratic USD weakness. The Atlantic spreads can have inverse correlations with FX if there are signs that markets are losing confidence in a broader spectrum of USD-denominated assets, ING's FX analyst Francesco Pesole notes.
RBNZ: Staying measured - Standard Chartered
RBNZ cuts 25bps to 3.50%, in line with February guidance and our expectations. Statement strikes a steady tone: downside risks noted, but no rush to reprice the cycle.
New Zealand: RBNZ reduces OCR by 25 bps, with scope for deeper cuts ahead - UOB Group
As widely expected, the Reserve Bank of New Zealand (RBNZ) decided to lower the Official Cash Rate (OCR) by 25bps to 3.50%.
Pound Sterling extends gains against US Dollar on fears of potential US recession
The Pound Sterling (GBP) extends the previous day's recovery to near 1.2850 against the US Dollar (USD) in Wednesday's European session.
Forex Today: US Dollar under pressure on trade war escalation, eyes on FOMC Minutes
Here is what you need to know on Wednesday, April 9:
WTI drops to near $57.70 as fears of weakening global demand intensify
West Texas Intermediate (WTI) Oil continues to decline for the second consecutive day, trading near $57.70 during early European hours on Wednesday.
Crude oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Wednesday, early in the European session.
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