NZD/USD gains ground to near 0.5905 in Wednesday’s Asian session.
New Zealand’s CPI rose 3.1% YoY in Q1, hotter than expected.
Warsh rejected senators’ concerns that he would bend to Trump’s demands to cut interest rates.
The NZD/USD pair gathers strength to around 0.5905 during the Asian trading hours on Wednesday. The New Zealand Dollar (NZD) edges higher against the US Dollar (USD) on hotter-than-expected domestic inflation data.
New Zealand’s Consumer Price Index (CPI) rose 3.1% YoY in the first quarter (Q1) of 2026, versus 3.1% increase seen in the fourth quarter of 2025, Statistics New Zealand reported on Tuesday. This figure came in above the market consensus of 2.9%. The quarterly CPI inflation climbed to 0.9% in Q1 from the previous reading of 0.6%, beating the estimates of 0.8%.
Higher-than-expected Q1 inflation data has fueled market speculation that the Reserve Bank of New Zealand (RBNZ) may need to raise interest rates sooner than previously. This, in turn, provides some support to the Kiwi.
On the other hand, remarks from Federal Reserve (Fed) Chair nominee Kevin Warsh regarding independent monetary policy might help limit the USD’s losses. Warsh said on Tuesday he had made no promises to Trump about cutting interest rates, as he tried to assure US senators mulling his confirmation to lead the Fed that he would act independently of the White House while pursuing broad reforms.
EUR/JPY may find its initial resistance around the all-time high of 187.95.
The 14-day Relative Strength Index near 63 suggests buyers remain in control.
The primary support lies at the nine-day EMA of 186.83.
EUR/JPY remains subdued for the second successive day, trading around 187.10 during Asian hours on Wednesday. The technical analysis of the daily chart indicates the currency cross is remaining within an ascending channel, signaling a persistent bullish bias.
The EUR/JPY cross holds a bullish near-term bias as it consolidates above both the nine-day and 50-day Exponential Moving Averages (EMAs). The alignment of the shorter EMA above the longer one. Additionally, the 14-day Relative Strength Index near 63 suggests buyers retain control despite the latest pause just under recent highs.
The EUR/JPY cross may appreciate toward the all-time high of 187.95, which was recorded on April 17. Further advances would support the currency cross to explore the region around the upper boundary of the ascending channel around 188.90.
On the downside, the EUR/JPY cross may find its primary support at the nine-day EMA of 186.83, followed by the lower ascending channel boundary around 186.50. A sustained break below the channel would expose the 50-day EMA at 184.73.
EUR/JPY: Daily Chart
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the New Zealand Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
0.02%
0.01%
-0.02%
-0.03%
-0.07%
-0.20%
0.00%
EUR
-0.02%
-0.00%
-0.02%
-0.03%
-0.09%
-0.22%
-0.02%
GBP
-0.01%
0.00%
-0.02%
-0.02%
-0.08%
-0.20%
-0.02%
JPY
0.02%
0.02%
0.02%
-0.02%
-0.05%
-0.19%
-0.01%
CAD
0.03%
0.03%
0.02%
0.02%
-0.03%
-0.16%
0.02%
AUD
0.07%
0.09%
0.08%
0.05%
0.03%
-0.14%
0.04%
NZD
0.20%
0.22%
0.20%
0.19%
0.16%
0.14%
0.19%
CHF
-0.00%
0.02%
0.02%
0.01%
-0.02%
-0.04%
-0.19%
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 Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
USD/CHF flattens around 0.7800 as the US Dollar trades calmly.
US President Trump extends the ceasefire with Iran for an indefinite period.
Fed’s Warsh prioritizes a smaller balance sheet while testifying in his confirmation hearing.
The USD/CHF pair trades in a tight range around 0.7800 during the Asian trading session on Wednesday. The Swiss Franc pair consolidates as investors await remarks from Iran regarding the announcement of the ceasefire extension by the United States (US).
As of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, holds onto Tuesday’s gains around 98.40.
Late Tuesday, US President Donald Trump announced the extension of the ceasefire for an indefinite period, through a post on Truth Socia, stating that the military department will hold their attacks on Iran until Washington receives a unified proposal.
Meanwhile, the US blockade on Iranian sea ports continues, which is one of the key reasons highlighted by Iran for not agreeing to sit down again with Washington for the resumption of peace talks. Earlier in the day, Iran has warned a powerful attack if the US continues the blockade.
On the domestic front, newly appointed Federal Reserve (Fed) Chairman Kevin Warsh has stated in his confirmation hearing that he will prioritize “smaller balance sheet”, which would mean “rates could be lower, inflation get better, economy stronger”.
The Mexican peso was at the 17.3 per USD mark, remaining relatively close to the six-week high of 17.25 from April 15th as markets dimmed expectations of rate hikes by the Federal Reserve, supporting emerging market currencies against the dollar. Benchmark oil prices eased off their multi-year peaks from late March and limited the magnitude of risk-off sentiment. In the meantime, mid-month inflation data showed that headline price growth in Mexico surged to its highest in 17 months in March. The data strengthened the argument for hawks in the Bank of Mexico, increasing the likelihood of a hold in the central bank’s upcoming decision following the controversial cut this month.
EUR/GBP edges lower as the Pound outperforms on resilient UK labor data.
Weak Eurozone ZEW sentiment weighs on the Euro amid growth concerns.
Focus shifts to UK inflation data on Wednesday for monetary policy cues.
EUR/GBP trades on the back foot on Tuesday, with the British Pound (GBP) outperforming the Euro (EUR) following broadly resilient UK labor market data, while softer economic sentiment from the Eurozone adds further pressure on the Euro.
At the time of writing, the cross is trading around 0.8700. However, it lacks strong directional momentum and remains range-bound as traders stay cautious amid ongoing US-Iran tensions and uncertainty over potential peace talks.
European sentiment weakened notably in April, with the Eurozone’s ZEW Economic Sentiment Index falling to -20.4 from -8.5 and Germany’s ZEW Economic Sentiment Index dropping to -17.2 from -0.5, both missing expectations.
The sharp drop in sentiment shows that ongoing tensions in the Middle East are starting to weigh on the Eurozone’s outlook. “Businesses are concerned about long-term shortages of energy supply, and this discourages investment and weakens the effect of government stimuli,” said ZEW President Professor Achim Wambach, commenting on the latest survey results.
Meanwhile, markets are also pricing in potential interest rate hikes from the European Central Bank (ECB), as rising Oil prices fuel inflation concerns. However, policymakers remain cautious and are not signaling any immediate policy shift. ECB Vice-President Luis de Guindos said on Tuesday, “I believe we need to be cautious, keep a cool head and analyse the data in a context of tremendous uncertainty.”
ECB President Christine Lagarde said on Monday that policymakers need to gather more information before drawing firm conclusions for monetary policy.
Earlier in the day, data released by the Office for National Statistics showed that the Claimant Count Change rose by 26.8K in March, above expectations. However, other labor market indicators pointed to underlying resilience. Employment Change came in at 25K in the three months to February, while the ILO Unemployment Rate eased to 4.9% from 5.2%.
The mixed but resilient labor market data suggest that the Bank of England (BoE) can afford to remain patient on policy easing, even as markets price in the risk of rate hikes driven by higher Oil prices. UK inflation data for March, due on Wednesday, could further influence interest rate expectations.
A Reuters poll on Tuesday showed that all 62 economists expect the BoE to keep the Bank Rate at 3.75% at its April meeting. Around 53% also expect rates to remain unchanged for the rest of the year.
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Australian Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
0.22%
0.12%
0.18%
-0.00%
0.20%
-0.25%
0.19%
EUR
-0.22%
-0.10%
-0.04%
-0.23%
-0.02%
-0.48%
-0.03%
GBP
-0.12%
0.10%
0.06%
-0.11%
0.06%
-0.38%
0.07%
JPY
-0.18%
0.04%
-0.06%
-0.17%
0.00%
-0.48%
-0.00%
CAD
0.00%
0.23%
0.11%
0.17%
0.18%
-0.30%
0.18%
AUD
-0.20%
0.02%
-0.06%
-0.01%
-0.18%
-0.48%
-0.01%
NZD
0.25%
0.48%
0.38%
0.48%
0.30%
0.48%
0.47%
CHF
-0.19%
0.03%
-0.07%
0.00%
-0.18%
0.00%
-0.47%
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 Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
EUR/USD drifts to session lows near 1.1750 on Tuesday but maintains its upside bias intact.
Investors remain cautious ahead of the ZEW Survey and the US-Iran peace talks.
Eurozone economic sentiment is expected to have remained downbeat in April.
The Euro (EUR) extends losses against the US Dollar (USD) on Tuesday, reaching session lows right above 1.1750 at the time of writing after failing to extend Monday’s gains past 1.1790. Investors have adopted a “wait-and-see” mode, awaiting the release of Eurozone economic sentiment data and developments from the US-Iran peace talks.
The Wall Street Journal affirmed that Tehran told regional mediators that they will send a delegation to Pakistan after threatening to pull out from the process on Monday, following the seizure of an Iranian cargo vessel by the US military. Beyond that, Reuters cited an anonymous US source, affirming that “things are moving forward”, altogether, feeding a moderate market optimism.
In the Eurozone, the German and Eurozone ZEW Economic Sentiment Survey is expected to show downbeat figures in April, highlighting the negative economic impact of the energy shock stemming from the conflict in the Middle East.
The German Economic Sentiment Index is expected to have deteriorated to -5, its weakest reading in the last 12 months, from -0.5 in March. In the Eurozone, the reading is seen improving to -3.6, from -8.5 in the previous month, but still at negative levels, pointing to a pessimistic view about the near-term outlook.
EUR/USD maintains its upside trend from the late-March lows intact, but recent price action shows some hesitation ahead of the 1.1800 area. Technical indicators in the 4-hour chart are also hinting at a weakening upside momentum.
The Relative Strength Index has been moving back and forth around the 50 midline, pointing to a lack of clear bias. The Moving Average Convergence Divergence (MACD) remains at its slightly negative levels, showing a fading upside pressure rather than a decisive bearish turn, at least for now.
Bulls have been capped at 1.1790 area earlier on Tuesday, which is closing the path towards Friday’s highs near 1.1850 for now. On the downside, immediate support is located at Monday’s lows near 1.1730, followed by the upward-sloping trendline, now around 1.1705. A clear break below this area would open the way towards a cluster of support levels between 1.1645 and 1.1675, which held bears on April 8, 9, 10, and 13.
EUR/JPY consolidates in a range on Tuesday amid a combination of diverging forces.
Economic concerns due to the Hormuz risks undermine the JPY and support the cross.
Intervention fears and hawkish BoJ bets limit JPY losses, capping gains for spot prices.
The EUR/JPY cross struggles to capitalize on the previous day’s goodish rebound from the 186.25 area, or a one-week low, and oscillates in a narrow range during the Asian session on Tuesday. Spot prices currently trade around the 187.20-187.25 region, nearly unchanged for the day, and remain well within the striking distance of the highest level since August 1990, touched last Friday.
The Japanese Yen (JPY) weakens slightly in reaction to a Reuters report that the Bank of Japan (BoJ) is increasingly likely to hold interest rates steady at its upcoming April meeting. This comes on top of economic concerns stemming from the Middle East conflict and the risk to energy supplies due to continued disruptions to shipping through the Strait of Hormuz. This turns out to be a key factor acting as a tailwind for the EUR/JPY cross.
The BoJ, however, is expected to signal readiness to hike in June as imported energy costs cloud the inflation picture. Moreover, speculations that Japanese authorities would step in to stem further weakness in the domestic currency hold back the JPY bears from placing aggressive bets. Apart from this, a modest US Dollar (USD) uptick is seen weighing on the shared currency, which contributes to capping the upside for the EUR/JPY cross.
The recent breakout above the 185.00 psychological mark comes on top of repeated rebounds from the 100-day Exponential Moving Average (EMA) and favors the EUR/JPY bulls. Adding to this, the Moving Average Convergence Divergence (MACD) indicator is in positive territory, and its histogram is still constructive. Moreover, the Relative Strength Index (RSI) hovers around 64, hinting at strong but not yet extreme buying pressure.
Meanwhile, initial support is reinforced by the 100-day EMA near 183.04, where a deeper pullback would be expected to attract dip-buying interest while the broader bullish structure remains intact. Unless the EUR/JPY cross slides back through this floor, the technical setup suggests that spot prices remain positioned to extend gains, with any consolidation above the moving average likely to be viewed as a pause within the prevailing uptrend rather than a trend reversal.
(The technical analysis of this story was written with the help of an AI tool.)
USD/CHF rises as the US Dollar strengthens on safe-haven demand amid persistent uncertainty over US–Iran talks.
President Trump said Vice President Vance will leave Monday for Pakistan to resume negotiations.
Traders expect SNB policymakers ready to intervene in FX markets to curb excessive Swiss Franc appreciation.
USD/CHF edges higher after registering modest losses in the previous day, trading around 0.7790 during the Asian hours on Tuesday. The pair gains ground as the US Dollar (USD) receives support from increasing risk aversion, driven by persistent uncertainty surrounding US–Iran ceasefire negotiations. Traders assess ongoing geopolitical tensions in the Middle East as the 14-day ceasefire deadline approaches.
Bloomberg reported that US President Donald Trump stated that US Vice President JD Vance is leaving later on Monday for Pakistan to resume negotiations, “either Tuesday night or Wednesday morning.” Iran is also sending a team, although it is unclear who would lead the delegation.
President Donald Trump has issued mixed signals earlier on the Iran war, saying he is not rushing to end it while expressing optimism about renewed talks with Tehran ahead of Wednesday’s ceasefire expiry.
However, the upside of the USD/CHF pair could be limited as the Swiss Franc (CHF) may find support from safe-haven inflows. Additionally, the CHF may also gain ground as rising concerns over a prolonged energy-driven inflation shock reinforce expectations of a more hawkish Swiss National Bank (SNB). Meanwhile, SNB meeting minutes from March highlighted growing uncertainty surrounding Switzerland’s economic outlook.
Market participants expect the SNB to intervene in FX markets to curb a rapid and excessive appreciation of the Swiss Franc. Traders await Swiss Trade Balance data due later in the day.
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