Sectors lifting US indices, JPY pairs, Gold and Silver bounce, Crude Oil up [Video]
![Sectors lifting US indices, JPY pairs, Gold and Silver bounce, Crude Oil up [Video]](https://editorial.fxsstatic.com/images/i/gold-march-05.jpg)
Author
Kim Cramer Larsson
KCL Consult
Kim Cramer Larsson hosts the Daily Technical Update, a daily 15-20 minutes video with live charts.
More from Kim Cramer Larsson
Editor's Picks
GBP/USD builds on Tuesday’s losses, although it now manages to pick up some pace and bounce off earlier multi-month troughs near 1.3140. The Greenback’s solid performance and continued political turmoil in the UK are keeping Cable under persistent pressure, with little sign of a meaningful recovery.
After bottoming out near 1.1320, EUR/USD gathers some traction and reclaims the 1.1350-1.1360 band as the NA session draws to a close on Wednesday. The pair’s drop to multi-month lows comes in response to the continuous leg higher in the US Dollar, which remains propped up by hawkish Fed expectations and uncertainty over the outcome of US-Iran peace negotiations.
Gold accelerates its decline and gyrates around the key $4,000 mark per troy ounce on Wednesday, its lowest level since November 2025. In the meantime, tighter-for-longer Fed expectations and a broadly firmer US Dollar continue to weigh on the yellow metal, while uncertainty surrounding a potential US-Iran peace agreement has done little to revive demand for the safe haven space.
Ripple (XRP) continues to face significant selling pressure, trading around $1.05 at the time of writing on Wednesday. This decline mirrors the broader weakness in the crypto market, exacerbated by mounting macroeconomic headwinds and persistent geopolitical uncertainties.
Oil markets received some encouraging news after weeks of rising tensions in the Middle East. But let’s not get ahead of ourselves: we’re far from victory, and markets just seem to have priced out the worst-case scenario. The US and Iran have reportedly made "substantive progress" in talks in Switzerland and agreed on a framework for working toward a broader deal within 60 days.
The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.
