Market Update: AUD and NZD Strongest, CHF and USD Weakest Amid Commodity Rally

Thursday, 4 April 2024, 06:16
In the ongoing trading session, the AUD and NZD are showing significant strength, fueled by a rise in commodity prices, notably Copper. Conversely, safe-haven currencies such as the CHF and USD are exhibiting weakness. Notably, the CHF is the weakest performer, with the USD closely behind. Amidst these market dynamics, the USD is experiencing intriguing price movements alongside bond flow shifts, while upcoming Swiss CPI data may impact CHF exchange rates.
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Market Update: AUD and NZD Strongest, CHF and USD Weakest Amid Commodity Rally

Market Performance Update

Throughout the current trading session, the AUD (blue) and NZD (purple) have emerged as the strongest performers, capitalizing on the surge in commodity prices, particularly Copper.

Safe-haven Currencies

On the contrary, safe-haven currencies like the CHF (green) and USD (yellow) are displaying notable weakness, with the CHF identified as the weakest among them, closely trailed by the USD.

Notably, the USD is exhibiting interesting price actions as investor flows in the bond market fluctuate. Keep an eye on the upcoming Swiss CPI data at 06:30 GMT for potential impacts on CHF-related exposures.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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