NZD/CAD Exchange rate

The EUR/USD trades near fresh 2025 highs in the 1.1640 price zone as Federal Reserve Chairman testifies before Congress. His optimistic words fuel risk appetite. The market's mood improved in Asia following news of a ceasefire in the Middle East. 

GBP/USD trades well above the 1.3600 mark in the American session, following comments from the BoE and the Fed's heads. Diminishing recession-related concerns are undermining the sentiment, despite persistent uncertainty about inflation. Hopes about easing Middle East tensions add to the upbeat mood. 

Gold price maintains its heavily offered tone early in the American session, approaching the $3,300 threshold on news indicating easing Middle East tensions. The ceasefire between Iran and Israel revived risk-on flows, to the detriment of the bright metal. Fed's Powell testimony before Congress coming up next.  

Bitcoin price stabilizes around $105,000 on Tuesday after a 4.33% gain on Monday, driven by easing geopolitical and regulatory concerns. Global risk appetite is increasing as the ceasefire between Iran and Israel, along with the Fed's softer stance on crypto-related banking, takes hold.

As the Israel-Iran conflict reaches new heights, an old threat is coming back to haunt the markets: that of the closure of the Strait of Hormuz. This narrow arm of the sea in the Persian Gulf, wedged between Iran to the north and the United Arab Emirates and Oman to the south, is much more than a simple sea passage.