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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
FX option expiries for Mar 12 NY cut
FX option expiries for Mar 12 NY cut
FX option expiries for Mar 12 NY cut at 10:00 Eastern Time via DTCC can be found below.
Currencies
Options
Silver price today: Silver rises, according to FXStreet data
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data.
Silver
Commodities
Metals
USD/CAD Price Forecast: Remains below 1.4450 near immediate support at nine-day EMA
USD/CAD Price Forecast: Remains below 1.4450 near immediate support at nine-day EMA
USD/CAD retraces its recent losses, trading around 1.4440 during the European hours on Wednesday.
USDCAD
Technical Analysis
Majors
NZD/USD bulls remain on the defensive near 0.5700; focus remains on US CPI report
NZD/USD bulls remain on the defensive near 0.5700; focus remains on US CPI report
The NZD/USD pair struggles to capitalize on the overnight bounce from a multi-day low, around the 0.5680-0.5675 region and attracts fresh sellers on Wednesday amid a modest US Dollar (USD) uptick.
NZDUSD
TradeWar
Fed
Inflation
Currencies
What is the distribution of forecasts for the US CPI?
What is the distribution of forecasts for the US CPI?
Knowing the range of expectations is important, but the distribution of forecasts is another key input in the market's reaction
market overview
BoC Governor Macklem: Our estimate of neutral is centred on 2.75%
BoC Governor Macklem: Our estimate of neutral is centred on 2.75%
All eyes are on the Bank of Canada (BoC) this Wednesday, with market consensus expecting another rate cut—the seventh in a row.
BOC
USDCAD
CentralBanks
SEO
Canada
USD: Room to rebound – ING
USD: Room to rebound – ING
Global risk sentiment continued to sour yesterday as President Trump announced he’d double tariffs on Canadian steel and aluminum to 50%, and later pulled the threat as Ontario suspended a 25% surcharge on electricity exports.
DollarIndex
Technical Analysis
Banks
EUR/USD: More likely to consolidate in a 1.0870/1.0950 range – UOB Group
EUR/USD: More likely to consolidate in a 1.0870/1.0950 range – UOB Group
Further sustained rise in Euro (EUR) vs US Dollar (USD) seems unlikely; it is more likely to consolidate in a 1.0870/1.0950 range.
EURUSD
Technical Analysis
Banks
WTI advances to near $66.50, upside seems limited due to rising US growth concerns
WTI advances to near $66.50, upside seems limited due to rising US growth concerns
West Texas Intermediate (WTI) Oil price gains ground for the second successive day, trading $66.40 during the European hours on Wednesday.
Oil
WTI
Macroeconomics
Commodities
Majors
Crude oil price today: WTI price bullish at European opening
Crude oil price today: WTI price bullish at European opening
West Texas Intermediate (WTI) Oil price advances on Wednesday, early in the European session.
Oil
WTI
Commodities
Bullish
EUR: Still rather expensive – ING
EUR: Still rather expensive – ING
EUR/USD received some extra support yesterday from the news that Ukraine agreed to a 30-day truce with Russia, but has retreated from the 1.095 highs to just under 1.090 as the dollar started to recover and the EU announced €26bn worth of retaliatory tariffs against the US.
EURUSD
Technical Analysis
Banks
European indices look for a bounce at the open today
European indices look for a bounce at the open today
The risk mood is holding up for now but all eyes are on the US CPI report later to settle the score
Pound Sterling refreshes four-month high against US Dollar on soft US Inflation report
Pound Sterling refreshes four-month high against US Dollar on soft US Inflation report
The Pound Sterling (GBP) posts a fresh four-month high at 1.2980 against the US Dollar (USD) in Wednesday’s North American session.
GBPUSD
Fed
BOE
Inflation
SEO
EUR/GBP holds losses near 0.8450 due to cautious tone surrounding the BoE policy outlook
EUR/GBP holds losses near 0.8450 due to cautious tone surrounding the BoE policy outlook
EUR/GBP halts its seven-day winning streak, trading around 0.8430 during the European hours on Wednesday.
EURGBP
Crosses
Macroeconomics
Eurozone
UnitedKingdom
Japan’s Hayashi: I would like to have close communication with the US over auto tariffs
Japan’s Hayashi: I would like to have close communication with the US over auto tariffs
Japan’s Chief Cabinet Secretary Yoshimasa Hayashi noted on Wednesday that “I would like to have close communication with the US over auto tariffs.” Additional quotes It's regrettable that the US went ahead with steel and aluminum tariff despite our request for exemption.
Japan
USDJPY
TradeWar
UnitedStates
Heads up: We'll have a bunch of ECB speakers coming up
Heads up: We'll have a bunch of ECB speakers coming up
ECB policymakers are attending the 'ECB and Its Watchers' event in Frankfurt today
What are the main events for today?
What are the main events for today?
The US CPI and the BoC Rate Decision are the main highlight
market overview
Forex Today: Markets take a break from tariff headlines, focus on BoC and US inflation
Forex Today: Markets take a break from tariff headlines, focus on BoC and US inflation
Here is what you need to know on Wednesday, March 12: Following a volatile American session that was dominated by tariff headlines on Tuesday, financial markets quiet down early Wednesday.
Majors
Currencies
Macroeconomics
Inflation
Commodities
Eurostoxx futures +0.4% in early European trading
Eurostoxx futures +0.4% in early European trading
A slight bounce slated for the open after the late recovery in Wall Street
US Dollar Index Price Forecast: Key support level emerges near 103.00, oversold RSI condition eyed
US Dollar Index Price Forecast: Key support level emerges near 103.00, oversold RSI condition eyed
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, recovers to near 103.55 after bouncing off four-month lows around 103.20.
DollarIndex
Technical Analysis
BoJ’s Ueda: Very worried about uncertainty over overseas economy, prices
BoJ’s Ueda: Very worried about uncertainty over overseas economy, prices
The Bank of Japan (BoJ) Governor Kazuo Ueda said on Wednesday that he is “very worried about uncertainty over overseas economy, prices.” Additional quotes Underlying inflation still remains below 2%.
BOJ
CentralBanks
InterestRate
USDJPY
UK’s Reynolds: Negotiating a wider economic agreement to eliminate additional tariffs.
UK’s Reynolds: Negotiating a wider economic agreement to eliminate additional tariffs.
UK Trade Minister Jonathan Reynolds said on Wednesday that they are “negotiating a wider economic agreement to eliminate additional tariffs.” Further comments It's disappointing that the US has imposed global tariffs on steel and aluminum.
UnitedKingdom
TradeWar
UnitedStates
GBPUSD
EC President von der Leyen: EU responds with countermeasures to US tariffs on steel
EC President von der Leyen: EU responds with countermeasures to US tariffs on steel
European Commission President Ursula von der Leyen said on Wednesday that the European Union (EU) has launched 'swift and proportionate countermeasures' on US imports in the EU in response to steel tariffs.
Eurozone
TradeWar
EURUSD
RiskAversion
Little on the agenda today as the focus is on the US CPI report
Little on the agenda today as the focus is on the US CPI report
No major releases coming up in European morning trade
economic calendar
USD/CHF strengthens to near 0.8850 ahead of US CPI inflation release
USD/CHF strengthens to near 0.8850 ahead of US CPI inflation release
The USD/CHF pair trades in positive territory for the third consecutive day near 0.8840 during the early European session on Wednesday.
USDCHF
Majors
Macroeconomics
EU says to respond to US steel, aluminum tariffs with countermeasures
EU says to respond to US steel, aluminum tariffs with countermeasures
The counter tariffs applied will try and match the €26 billion worth of tariffs by the US, starting from next month
Politics
USD/MXN Price Forecast: Seems vulnerable while below 100-day SMA; US CPI awaited
USD/MXN Price Forecast: Seems vulnerable while below 100-day SMA; US CPI awaited
The USD/MXN pair struggles for a firm intraday direction on Wednesday and oscillates in a narrow trading band, around the 20.2790-20.2795 region through the Asian session.
USDMXN
Technical Analysis
Fed
Inflation
Currencies
EUR/JPY climbs above 161.50 amid a slight uptick in global risk sentiment
EUR/JPY climbs above 161.50 amid a slight uptick in global risk sentiment
EUR/JPY continues its upward momentum for the second consecutive day, trading around 161.60 during Wednesday’s Asian session.
EURJPY
Crosses
Macroeconomics
Japan
Eurozone
Gold price remains confined in a range near weekly top ahead of US inflation data
Gold price remains confined in a range near weekly top ahead of US inflation data
Gold price (XAU/USD) trades near the weekly high during the Asian session on Wednesday and looks to build on the previous day's goodish rebound from the $2,880 region, or a one-week low.
Gold
Commodities
TradeWar
SEO
CPI
India Gold price today: Gold steadies, according to FXStreet data
India Gold price today: Gold steadies, according to FXStreet data
Gold prices remained broadly unchanged in India on Wednesday, according to data compiled by FXStreet.
Gold
India
Commodities
Metals
EUR/USD declines to near 1.0900 on renewed US Dollar demand, US CPI data looms
EUR/USD declines to near 1.0900 on renewed US Dollar demand, US CPI data looms
The EUR/USD pair attracts some sellers to near 1.0900, snapping the three-day winning streak during the Asian trading hours on Wednesday.
EURUSD
Majors
Macroeconomics
Trump's steel and aluminum tariffs take effect
Trump's steel and aluminum tariffs take effect
This is the 25% tariffs as what was touted before
Politics
USD/CAD holds gains near 1.4450 ahead of US CPI data, BoC interest rate decision
USD/CAD holds gains near 1.4450 ahead of US CPI data, BoC interest rate decision
USD/CAD maintains its gains after a previous session of losses, trading around 1.4440 during Asian hours on Wednesday.
USDCAD
Majors
Macroeconomics
TradeWar
BOC
ForexLive Asia-Pacific FX news wrap: EUR/USD drifted back under 1.09 (barely)
ForexLive Asia-Pacific FX news wrap: EUR/USD drifted back under 1.09 (barely)
Forex news for Asian trading on Wednesday, March 12, 2025
Session wrap
Wrap Asia
Silver Price Forecast: XAG/USD hovers near $33.00, four-month highs
Silver Price Forecast: XAG/USD hovers near $33.00, four-month highs
Silver price (XAG/USD) loses ground after registering gains in the previous session, trading around $32.80 during the Asian hours on Wednesday.
Silver
XAGUSD
Technical Analysis
Commodities
Metals
GBP/USD trades with negative bias below mid-1.2900s, downside seems limited ahead of US CPI
GBP/USD trades with negative bias below mid-1.2900s, downside seems limited ahead of US CPI
The GBP/USD pair edges lower during the Asian session on Wednesday and erodes a part of the previous day's strong move up to over a four-month peak, around the 1.2965 area.
GBPUSD
Inflation
Fed
TradeWar
Currencies
Breaking: US CPI inflation softens to 2.8% in February vs. 2.9% forecast
Breaking: US CPI inflation softens to 2.8% in February vs. 2.9% forecast
The United States (US) Bureau of Labor Statistics (BLS) is set to publish the high-impact Consumer Price Index (CPI) inflation report for February on Wednesday at 12:30 GMT.
EconomicIndicator
EURUSD
SEO
Inflation
Breaking