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USD/CAD gauges temporary support near 1.4400 after US CPI, BoC’s policy decision
USD/CAD gauges temporary support near 1.4400 after US CPI, BoC’s policy decision
The USD/CAD pair looks for temporary support near the key level of 1.4400 during North American trading hours on Wednesday after the release of the United States (US) Consumer Price Index (CPI) data for February and the Bank of Canada’s (BoC) interest rate decision.
USDCAD
BOC
Fed
Inflation
InterestRate
EIA weekly US crude oil inventories +1448K vs +2001K expected
EIA weekly US crude oil inventories +1448K vs +2001K expected
Weekly US energy inventory data for the week ending March 7
Canada finance minister: Early review of USMCA not on Canada's agenda
Canada finance minister: Early review of USMCA not on Canada's agenda
Finance Minister said it's not on the agenda for tomorrow's White House meeting
USD/JPY jumps to near 149.00 after soft US CPI data
USD/JPY jumps to near 149.00 after soft US CPI data
The USD/JPY pair surges to near 149.20 during North American trading hours on Wednesday.
USDJPY
Fed
BOJ
Inflation
DollarIndex
GBP holds in low 1.29 zone – Scotiabank
GBP holds in low 1.29 zone – Scotiabank
Pound Sterling (GBP) is down slightly on the session, but price moves largely reflect the broader tone on the USD, Scotiabank's Chief FX Strategist Shaun Osborne notes.
GBPUSD
Technical Analysis
Banks
EUR retains bullish undertone – Scotiabank
EUR retains bullish undertone – Scotiabank
The Euro (EUR) peaked around 1.0950 yesterday vs US Dollar (USD), helped in part by news of progress in Ukraine peace talks, Scotiabank's Chief FX Strategist Shaun Osborne notes.
EURUSD
Technical Analysis
Banks
Bullish
Ronald Reagan's comments about tariffs ring true about the US steel industry today
Ronald Reagan's comments about tariffs ring true about the US steel industry today
Tariffs lead to industries being reliant on the government
Politics
CAD trades steadily on the day – Scotiabank
CAD trades steadily on the day – Scotiabank
The Canadian Dollar (CAD) is moderately higher (with the MXN) as 25% steel/aluminum tariffs were enforced as of midnight.
USDCAD
Technical Analysis
Banks
USD steadies, undertone remains weak – Scotiabank
USD steadies, undertone remains weak – Scotiabank
The US Dollar (USD) is trading a little higher overall on the session, but gains are limited and price action suggests the DXY is consolidating recent losses, rather than reversing, at this point, Scotiabank's Chief FX Strategist Shaun Osborne notes.
DollarIndex
Technical Analysis
Banks
US Dollar flattens after soft CPI does not change intraday's narrative
US Dollar flattens after soft CPI does not change intraday's narrative
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is little changed on the day after the United States (US) Consumer Price Index (CPI) release for February. Both yearly and monthly numbers for
DollarIndex
Macroeconomics
UnitedStates
SEO
TradeWar
Change
We will have contact with Russia today - Rubio
We will have contact with Russia today - Rubio
Remarks by US secretary of state, Marco Rubio
Politics
ForexLive European FX news wrap: The calm before the storm?
ForexLive European FX news wrap: The calm before the storm?
Forex news from the European morning session on Mar 12, 2025
Session wrap
Wrap Europe
Canada to announce retaliatory tariffs in response to Trump's steel, aluminum tariffs
Canada to announce retaliatory tariffs in response to Trump's steel, aluminum tariffs
The retaliatory tariffs will total up to around C$29.8 billion
Politics
AUD/USD oscillates below 0.6300 ahead of US Inflation data
AUD/USD oscillates below 0.6300 ahead of US Inflation data
The AUD/USD pair trades in a tight range below the key level of 0.6300 in Wednesday’s European session.
AUDUSD
Fed
TradeWar
Inflation
Recession
US MBA mortgage applications w.e. 7 March +11.2% vs +20.4% prior
US MBA mortgage applications w.e. 7 March +11.2% vs +20.4% prior
Latest data from the Mortgage Bankers Association for the week ending 7 March 2025
USD/CAD to tick down to 1.41 in the near term – Danske Bank
USD/CAD to tick down to 1.41 in the near term – Danske Bank
Today, focus in CAD FX space turns to the BoC meeting at 14:45 CET - where markets and consensus favour a 25bp rate cut, Danske Bank's FX analysts Kristoffer Kjær Lomholt and Filip Andersson report.
USDCAD
Technical Analysis
Banks
EUR/USD: Market focus shifts to US CPI – Danske Bank
EUR/USD: Market focus shifts to US CPI – Danske Bank
EUR/USD has edged slightly higher over the last 24 hours, with the EUR and European currencies broadly outperforming in the G10 space amid rising optimism that Germany's debt package will be approved, Danske Bank's FX analysts Kristoffer Kjær Lomholt and Filip Andersson report.
EURUSD
Technical Analysis
Banks
US CPI to reaffirm stall in disinflation progress?
US CPI to reaffirm stall in disinflation progress?
The estimates point to a sticky set of numbers coming up later
USD/JPY: Further tactical downside may be limited for now – Danske Bank
USD/JPY: Further tactical downside may be limited for now – Danske Bank
The tactical short USD/JPY spot trade from FX Top Trades 2025, initiated on 13 January, has reached its soft target of 147.00, Danske Bank's FX analysts Kristoffer Kjær Lomholt and Filip Andersson report.
USDJPY
Technical Analysis
Banks
USD/CAD can move towards 1.4240 and 1.4150 – Société Générale
USD/CAD can move towards 1.4240 and 1.4150 – Société Générale
USD/CAD broke out from its multiyear range and experienced an extended uptrend, Société Générale's FX analysts note.
USDCAD
Technical Analysis
Banks
Back and forth on tariffs – ING
Back and forth on tariffs – ING
President Donald Trump threatened to increase steel and aluminium tariffs on Canada to 50% in retaliation to Ontario’s move to raise taxes on electricity exports to the US, a sign of trade war escalation.
Metals
Commodities
Banks
Copper
USD/CNH: Room for another leg lower towards 7.2200 before stabilization – UOB Group
USD/CNH: Room for another leg lower towards 7.2200 before stabilization – UOB Group
As long as any recovery in US Dollar (USD) remains below 7.2500 vs Chinese Yuan (CNH), there is room for another leg lower towards 7.2200 before stabilization can be expected.
USDCNH
Technical Analysis
Banks
China: FDI no longer a two-way street – Standard Chartered
China: FDI no longer a two-way street – Standard Chartered
China has turned into a FDI net exporter since 2022, with inward flows collapsing to USD 4.5bn in 2024.
China
TradeWar
Growth
Banks
USD/JPY: Expected to trade in a range between 146.50 and 149.50 – UOB Group
USD/JPY: Expected to trade in a range between 146.50 and 149.50 – UOB Group
US Dollar (USD) could continue to rebound vs Japanese Yen (JPY), but it does not seem to have enough momentum to break above 148.80.
USDJPY
Technical Analysis
Banks
Gas: Market is eagerly watching how ceasefire talks evolve – ING
Gas: Market is eagerly watching how ceasefire talks evolve – ING
European natural gas prices rose yesterday with TTF Natural Gas Futures (TTF) settling almost 3.6% higher on the day, ING's commodity experts Ewa Manthey and Warren Patterson note.
Gas
Technical Analysis
Banks
Energy
Silver Price Forecast: XAG/USD jumps to near $33 on US slowdown fears, US CPI eyed
Silver Price Forecast: XAG/USD jumps to near $33 on US slowdown fears, US CPI eyed
Silver price (XAG/USD) climbs to near $33.00 in European trading hours on Wednesday, the highest level seen in more than two weeks.
Silver
XAGUSD
Fed
TradeWar
Recession
Kremlin: Need to hear from US before commenting on the acceptability of a ceasefire for Russia
Kremlin: Need to hear from US before commenting on the acceptability of a ceasefire for Russia
The Kremlin said in a statement on Wednesday, “we need to hear from US National Security Advisor Mike Waltz and Secretary of State Marco Rubio before we will comment on the acceptability of a ceasefire for Russia.” Additional takeaways A call between Trump and Putin can be organised "very fast" if needed Carefully studying statements issued after US-Ukraine talks.
RussianFederation
UnitedStates
Politics
DollarIndex
NZD/USD: Expected to trade in a 0.5675/0.5730 – UOB Group
NZD/USD: Expected to trade in a 0.5675/0.5730 – UOB Group
Momentum indicators are turning neutral; New Zealand Dollar (NZD) is expected to trade in a 0.5675/0.5730 range vs US Dollar (USD).
NZDUSD
Technical Analysis
Banks
Russia says waiting to hear from US on acceptability of a ceasefire
Russia says waiting to hear from US on acceptability of a ceasefire
The Kremlin says a call between Trump and Putin can be organised "very fast" if needed
Politics
Gold braces for side effects of US CPI release on US rates
Gold braces for side effects of US CPI release on US rates
Gold’s price (XAU/USD) turns flat to $2,915 at the time of writing on Wednesday ahead of the United States (US) Consumer Price Index (CPI) release for February. Market consensus is for a deceleration in all inflation measures, both monthly and yearly gauges. However, many analysts and economists have commented that the current US tariff approach will be inflationary for the US, which could trickle through in the numbers.
Gold
Commodities
UnitedStates
SEO
TradeWar
AUD/USD: Expected to trade in a 0.6255/0.6320 – UOB Group
AUD/USD: Expected to trade in a 0.6255/0.6320 – UOB Group
Australian Dollar (AUD) is expected to trade in a 0.6255/0.6320 range vs US Dollar (USD).
AUDUSD
Technical Analysis
Banks
CAD: Another insurance cut – ING
CAD: Another insurance cut – ING
We expect a 25bp rate cut of the Bank of Canada overnight rate to 2.75% today.
USDCAD
Technical Analysis
Banks
EUR/USD corrects as US Dollar rebounds despite moderate US Inflation growth
EUR/USD corrects as US Dollar rebounds despite moderate US Inflation growth
EUR/USD corrects to near 1.0890 in North American trading hours on Wednesday after the release of the United States (US) Consumer Price Index (CPI) report for February, which showed that inflationary pressures grew at a slower-than-expected pace.
EURUSD
ECB
Fed
Recession
SEO
GBP/USD may have just enough momentum to test 1.2975 – UOB Group
GBP/USD may have just enough momentum to test 1.2975 – UOB Group
While overbought, Pound Sterling (GBP) may have just enough momentum to test 1.2975 vs US Dollar (USD) before the risk of a pullback increases.
GBPUSD
Technical Analysis
Banks
ECB's Šimkus: We will see if we cut rates or pause in April
ECB's Šimkus: We will see if we cut rates or pause in April
European Central Bank (ECB) Governing Council member Gediminas Šimkus said on Wednesday that “we will see if we cut rates or pause in April.” Further comments It is irrational to commit to future rate decisions.
ECB
CentralBanks
InterestRate
EURUSD