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- USD/CAD edges up to near 1.3780; outlook remains worsened on hopes of US-Iran permanent ceasefire.
- US President Trump expresses confidence that the war with Iran is close to over.
- Investors await the announcement of another round of US-Iran talks.
The USD/CAD pair trades slightly higher to near 1.3780 during the European trading session on Wednesday. The Loonie pair gained a temporary ground after posting a fresh three-week low near 1.3730 on Tuesday; however, the outlook remains uncertain amid hopes that the United States (US) and Iran could reach a permanent ceasefire soon.
Earlier in the day, US President Donald Trump said in an interview with Fox News, “I view it as very close to over,” when asked how long the war with Iran will continue.
Meanwhile, US Vice President (VP) JD Vance has also expressed confidence, in a public event, that both sides are working towards a deal, and talks are taking place via channels including Pakistan. Vance added, “Discussions have made tremendous progress, and the current ceasefire holds for a seventh consecutive day.”
During the press time, market sentiment remains risk-on amid hopes of a US-Iran ceasefire. S&P 500 futures hold onto Tuesday’s gains near 6,970. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.1% higher to near 98.20, but is still close to its over six-week low of 97.97 posted on Tuesday.
US Dollar Price Last 7 Days
The table below shows the percentage change of US Dollar (USD) against listed major currencies last 7 days. US Dollar was the weakest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -1.61% | -1.98% | -0.40% | -0.77% | -2.19% | -2.80% | -2.03% | |
| EUR | 1.61% | -0.39% | 1.20% | 0.80% | -0.63% | -1.22% | -0.45% | |
| GBP | 1.98% | 0.39% | 1.62% | 1.23% | -0.26% | -0.83% | -0.05% | |
| JPY | 0.40% | -1.20% | -1.62% | -0.38% | -1.83% | -2.53% | -1.62% | |
| CAD | 0.77% | -0.80% | -1.23% | 0.38% | -1.36% | -2.15% | -1.23% | |
| AUD | 2.19% | 0.63% | 0.26% | 1.83% | 1.36% | -0.71% | 0.20% | |
| NZD | 2.80% | 1.22% | 0.83% | 2.53% | 2.15% | 0.71% | 0.89% | |
| CHF | 2.03% | 0.45% | 0.05% | 1.62% | 1.23% | -0.20% | -0.89% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Going forward, investors will focus on the outcome of the second round of US-Iran talks, whose date has not been confirmed, but will likely take place before the expiration of the two-week ceasefire on April 21, according to Reuters.
On the domestic front, traders do not expect the Federal Reserve (Fed) to raise interest rates this year anymore amid optimism on the US-Iran truce.
