Global sentiment buoyant as peace talks near
Global markets pushed higher again overnight as optimism around a potential Iran peace deal lifted risk appetite.
Equity markets were broadly firmer and demand for risk-sensitive assets continued to build.
The US’s S&P 500 gained 0.6% as it climbed for the seventh consecutive day.
US and Iranian officials are scheduled to hold peace talks during today’s Asian trading session, keeping investors positioned for a possible diplomatic breakthrough. The prospect of easing geopolitical tensions has helped underpin confidence and supported a more constructive mood across global markets
Aussie gains for fourth day
The Australian dollar was the standout performer, rising 0.8% against the US dollar to mark its fourth consecutive daily gain.
The move reflects improving global risk sentiment and renewed demand for growth-linked currencies on the back of peace hopes.
Price action remains decisively positive, with the Aussie now trading comfortably above 8- and 21-day moving averages – a sign of strength.
Looking forward, major long-term resistance is seen at 0.7200, while support is seen at 0.7000.
CNY hits three-year highs
In Asia, the Chinese yuan was the clear winner.
The USD/CNH fell to its lowest level in three years as confidence in the regional outlook improved.
The move reflects a combination of stronger risk sentiment and ongoing support for Asian currencies, with the yuan’s strength adding to the positive tone across regional FX markets.
The USD/SGD fell 0.2% to new one-month lows.
Aussie leads over last seven days
Table: seven-day rolling currency trends and trading ranges
Key global risk events
Calendar: 6 – 11 April
All times are in EST
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*The FX rates published are provided by Convera’s Market Insights team for research purposes only. The rates have a unique source and may not align to any live exchange rates quoted on other sites. They are not an indication of actual buy/sell rates, or a financial offer.
